Boric Acid Industry Company Overview, Statistics, Regional Economy, Development and Forecast to 2030
Market Overview
Boric Acid Market is projected to be worth USD 1,169.89 Million by 2030, registering a CAGR of 5.8% during the forecast period (2022- 2030).
Even if borosilicate glass over quite some time has been showing a good demand, there is no doubt that in covid times due to pandemic crises, the market got hit very badly. As the other industries got paused be it construction or manufacturing, the market was hit in all countries and considering the market for boric acid there was no exemption. However, as the ban is getting uplifted and many countries are not in the pandemic crises anymore, it is expected that the demand for the Boric Acid Market is likely to upscale again in full swing. You may see some better outcomes for the same in the coming years. It is also likely to meet its goal of certain million dollars to be reached during the forecast timelines. Besides, there are construction industries that are showing growth opportunities in the global acid market.
Boric acid is one weak yet odourless acid that occurs naturally. This compound consists of an element called boron. You can find it in powder form and also in the form of colourless crystals and white powder that is said to be water-soluble. It is rich in antibiotic properties that are against both fungal and bacterial infections. Considering the demand in the growing construction industries, there is no doubt that boric acid maker is also getting a huge demand. It can be used in household and industrial applications and also in creating soldering operations, textile fibreglass and lubricants to be made. It is useful for insecticides and antibacterial compounds as well. Considering the rise in the per capita income and urbanization, the market for boric acid is growing at a faster pace. There are also construction activities that are emerging in developing countries like China and India where fibreglass is being boosted in terms of construction. That is why the demand for boric acid has increased considerably.
Get a Free Sample PDF Brochure https://www.marketresearchfuture.com/sample_request/7294
Market Segmentation
The market of Global boric acid is categorized per application, end-use and region.
l As per the end-use, the market of Global boric acid is categorized into ceramics, tiles, flame and fibreglass
Regional Classification
If the regional analysis is to be considered, the market for boric acid is growing in regions like North America, Asia Pacific, Europe, The Middle East And Africa and Latin America. Out of which, Asia Pacific is showing a good share of the market in the boric acid which of course is soon going to grow in coming years. Further, the agriculture industry is growing too which is why the demand in this region is quite high.
Industry News
The US Food and Drug Administration in December 2021approved the Vuity eye drop 1.25% to treat presbyopia.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Comments
Post a Comment