Boron Minerals and Chemicals Market: Global Industry Analysis and Forecast 2021 - 2027

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.

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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.

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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The boron trifluoride segment is likely to grow at approximately 4.5% CAGR over the review period. The boron tribromide segment is poised to hold more than 30% share in the boron halides product segment by 2027. The others boron halides segment includes boron triiodide and is slated to exceed a valuation of USD 10 million by the end of 2027.

The boric acid esters segment is anticipated to progress at a substantial rate through the analysis timeline owing to its excellent chemical and physical properties for glass manufacturing. The boron hydrides segment is foreseen to expand at a CAGR of above 2.5% over the estimated period. Under boron hydrides, the boron minerals and chemicals market has been segmented into arachno borane, closo borane, and nido borane.

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