A recent report published by Transparency Market Research pegs the value of the global boron compounds market at US$1.98 bn in 2013. The market, according to the report, is likely to reach an estimated valuation of US$3.15 bn by the end of 2020.
If the figures hold true, the market will exhibit a positive CAGR of 6.9% during the aforementioned forecast period. The report is titled “Boron Compounds Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” and is available on the company website for sale.
The report presents a comprehensive overview of the global boron compounds market and provides insights into the factors that are likely to drive or restrain the growth of the market. Based on in-depth research, the report states that the total production volume of boron compounds stood at 1,759 kilo tons in 2013.
Increasing demand from the ceramic tile industry for boric acid, which is an oxidized product derived from boron, will push the demand for boron compounds. Furthermore, rising application of boric acid in fiberglass is also anticipated to fuel demand from the global boron compounds market, states the report. While growth prospects for the market may seem rather positive, abundant availability of close substitutes is a major threat that might hinder its progress in the long run.
The limited availability of boron ore, concentrated only in a few regions around the world, also makes it difficult for companies in the industry to ensure smooth operation. With an aim to present an executive-level snapshot of the market, the report studies in great detail every factor that is likely to have an impact on the growth trajectory of the global boron compounds market.
The report profiles leading companies operating in the market to study its competitive landscape. The companies profiled in the report include Borax Morarji Ltd., AkzoNobel, Boron Compoundss Ltd., Eti Maden, ESK Ceramics, and BASF.