LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global boric acid market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the report, Boric acid is the second largest borate derivative by volume, borax being the first. The demand for boric acid is on a rise over the past few years due to new applications of boric acid, such as its substitution over other minerals. China and the US are the largest consumers of boric acid. The major end users of boric acid are manufacturers of ceramic and tiles and fiberglass, accounting for nearly 50% of the global consumption of boric acid. Pharmaceuticals, agriculture, cosmetics, and wood preservation are the other end users of boric acid.
The glass and fiberglass segment is the largest end user of boric acid. The segment accounted for a consumption volume of nearly 70% of the market, in 2015. The growth in the global construction industry will foster the market for glass and fiberglass during the forecast period.
In 2015, APAC dominated the market with more than 57% of the market share. “The region will sustain its market share owing to the growth in construction activities, fostered by rapid urbanization and economic growth, especially in developing economies,” says Swapnil Tejveer Sharma Mutsuddi, lead specialty chemicals analyst from Technavio.
3M, Avantor Performance Materials, BASF, Borax, Eti Maden, and Gujarat Boron Derivatives are the six major vendors in the market. Borax functions as the largest boric acid plant in the world, catering to more than 40% of the global demand for boric acid.
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Technavio’s chemicals and materials research analysts provide the following insights into the key vendors:
3M
3M is involved in the development and manufacturing of a range of products for the industrial, electronics, safety, energy, healthcare, and consumer segments. The company through its subsidiary Ceradyne, specializes in the production of isotopic boron products for specific applications, primarily in the nuclear energy sector. Ceradyne operates the largest boron isotope enrichment facility worldwide. The company manufactures 10B and 11B boric acid isotopes through its proprietary processes.
Avantor Performance Materials
Avantor Performance Materials is a manufacturer of high-performance chemicals and materials worldwide. The company supplies boric acid as per the ACS Reagent Chemical Requirements under ULTRAPURE and BAKER ANALYZED brands. It has a purity of more than 99.5% and has applications in laboratory equipment, research, and manufacturing.
BASF
BASF offers chemicals, plastics, performance and crop protection products, and explores oil and gas. BASF in global boric acid market offers Perma-Dust, which is a pressurized dust with boric acid as the active ingredient. It is used as a household pest extermination agent.
Borax
Borax is involved in the mining, refining, and marketing of borates. The company operates one of the world's richest open-pit mines in Boron, California, US. The company is a subsidiary of Rio Tinto. Its products are crystalline and are a multifunctional source of boric acid. These products are also available as granules or in powder form.
Eti Maden
Eti Maden is a Turkish state-owned mining company that focuses on the manufacture of boron products. Some of its offerings include EtiDot 67, which is used in the production of herbicides, pesticides and fertilizers, and wood protection products; Eti Matik, for the production of detergents; and EtiSteel, an additive for the steel manufacturing process.
Gujarat Boron Derivatives
Gujarat Boron Derivatives is a manufacturer of inorganic chemicals, primarily boron compounds, cobalt salts and pigments, and magnesium nitrate. The company has manufacturing facilities in Halol, Gujarat, India. Its products are marketed to South Africa, Kenya, Jordan, Australia, Taiwan, Sri Lanka, and countries in Europe and Central America. Gujarat Boron Derivatives in global boric acid market. The company produces boric acid as a white crystalline powder or in granular forms.
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