Market Size of Boron Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 4.89 Million tons |
| Market Volume (2029) | 6.04 Million tons |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Boron Market Analysis
The Boron Market size is estimated at 4.89 Million tons in 2024, and is expected to reach 6.04 Million tons by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
COVID-19 negatively impacted the market as all the industries halted their manufacturing processes. Lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. However, the conditions started recovering in 2021, restoring the market's growth trajectory.
- One of the major factors driving the market study is the growing adoption of fiberglass in various end-user industries. Also, increasing demand from the agriculture industry will likely boost the demand for boron during the forecast period.
- However, rising concerns regarding the scarcity of the compound are likely to restrain the market.
- The growing demand from the ceramics industry is likely to act as an opportunity for market growth in the future.
- Asia-Pacific dominated the boron market, owing to high demand from various industries like automobiles, buildings, and construction in the region.
