Boron Minerals and Chemicals Market Forecasts and Opportunities, 2021- Trends, Outlook and Implications across COVID Recovery Cases to 2027

The boron minerals and chemicals market is projected to surpass a significant valuation by 2027 owing to soaring product demand for glass and ceramics in the construction industry across the globe.

Boron compounds are used as intermediates and raw materials in producing several products across various industrial verticals, including textile, automotive, construction, and food & beverages, among others. Escalating demand for boron minerals and chemicals from energy-saving appliances has fueled product demand in recent years.

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The boron minerals and chemicals market has been segmented based on application, product type, and region. With respect to product type, the market has further been categorized boron chemicals and boron minerals. The boron minerals segment is set to showcase steady growth at about 3.5% CAGR through the forecast period.

Under boron minerals, the boron minerals and chemicals market has been divided into tourmaline, colemanite, and ulexite. The ulexite segment is estimated to amass considerable gains over 2021-2027 owing to prominent utilization of ulexite in fiberglass manufacturing with specific reference to heat-resistant application glasses. The tourmaline segment is slated to expand notably over the study timeline due to the extensive usage of tourmaline in pressure gauges. Moreover, tourmaline also finds widespread application in air and water purifiers due to its piezoelectric properties, which is likely to drive segmental demand.

The boron chemicals sub-segment is expected to attain more than 85% in the global boron minerals and chemicals market by 2027. Under boron chemicals, the boron minerals and chemicals market has been bifurcated into anhydrous borax, boric acid, borax, boron halides, anhydrous borates, boron carbide, boric acid esters, boron nitride, boron hydrides, and others.

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The anhydrous borates segment is speculated to reach a sizable valuation by the end of 2027 on account of its wide-ranging applications in the glass and ceramics industry. The anhydrous borax segment is anticipated to grow at a solid pace through the assessment timeframe due to the excellent durability that the product offers in glass formulations.

The boron halides segment is projected to develop significantly owing to its prevalent use as a catalyst in the petrochemical industry. Under boron halides, the boron minerals and chemicals market has been segregated into boron trifluoride, boron tribromide, boron trichloride, and others. The boron trichloride segment is expected to grow considerably over the stipulated timeline. This growth is attributed to increasing consumption of boron trichloride in the metal and alloy industry for refining, soldering, and aluminum casting.

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