세계 붕산 시장 규모는 2024년에 9억 3,600만 달러에 달했습니다. 향후 IMARC 그룹은 2033년까지 4.61%의 연평균 성장률(CAGR)을 기록하며 2033년까지 14억 420만 달러에 달할 것으로 예측했습니다. 작물 수확량을 개선하고 토양 건강을 개선하기 위해 비료에 붕산 사용이 증가함에 따라 시장 성장을 가속하고 있습니다.
붕산은 붕소, 산소, 수소로 구성된 화합물로 화학식은 H3BO3입니다. 백색의 무취의 결정성 분말로 존재합니다. 이 만능 물질은 방부제, 수렴제, 살충제, 비료, 의약품, 농업, 화장품 등 다양한 산업에 응용되고 있습니다. 이 외에도 붕산은 플럭스(flux)로 작용하는 능력으로 유리, 세라믹, 에나멜의 제조에 이용됩니다. 또한, 붕산은 순한 항균 작용으로 스킨케어 제품 및 점안제에도 널리 사용되고 있습니다.
농업, 세라믹, 유리 및 제약과 같은 다양한 최종 사용 산업에서 붕산에 대한 수요가 증가함에 따라 시장 성장을 주도하고 있습니다. 이 외에도,. 특히 개발도상국의 농업 부문의 성장이 촉진되고 있으며, 작물 수확량을 향상시키기 위해 붕산 기반 비료와 농약에 대한 수요가 증가하고 있습니다. 또한, 건축용 유리 섬유 및 단열재 제조에 붕산에 대한 수요가 증가함에 따라 시장 확대에 기여하고 있습니다. 이와 함께, 스킨케어 제품 및 점안제에서 붕산의 장점에 대한 인식이 높아지면서 시장 성장을 강화하고 화장품 및 헬스케어 산업에서의 채택을 촉진하고 있습니다. 또한 신흥 경제국의 급속한 산업화, 도시화, 인프라 개발 등 다양한 요인이 시장 확대의 기회로 작용하고 있습니다.
다양한 산업 분야에서의 다양한 활용
붕산의 다재다능함과 다양한 산업 분야에서 폭넓게 사용되는 것은 시장 성장을 가속하는 주요 요인입니다. 또한, 건강한 식물의 성장을 가속하고 수확량을 증가시키기 위해 작물에 필수적인 미량 영양소로 번성하고 있는 농업 부문 전반에 걸쳐 급증하는 제품 채택이 시장을 앞당기고 있습니다. 동시에 붕산은 세라믹 및 유리 산업에서 플럭스(용융제)로 작용하여 재료의 융점을 낮추어 유리 및 세라믹 제품의 제조 공정을 개선합니다. 이 용도는 전자 부품, 디스플레이 패널, 절연 목적의 유리 섬유 생산에 특히 중요합니다. 또한, 붕산은 방부제 및 수렴제로서 의약품에 적용되어 헬스케어 분야에서의 사용에 기여하고 있습니다.
신흥국 농업 부문의 성장
신흥국을 중심으로 확대되고 있는 농업 부문은 세계 붕산 시장의 중요한 성장 촉진요인이 되고 있습니다. 세계 인구가 계속 증가함에 따라 농산물에 대한 수요가 증가하면서 붕산 기반 비료와 농약에 대한 필요성이 증가하고 있습니다. 개발도상국은 급속한 산업화와 도시화를 경험하고 있으며, 이는 식량 수요 증가에 대응하기 위한 농업 활동 증가를 가져오고 있습니다. 붕소 기반 비료 및 농약과 같은 농업 투입물로서 붕산의 중요성은 토양 비옥도와 식물 건강을 개선하는 역할로 인해 견인력을 얻고 있습니다. 신흥국들이 농업 현대화 및 투자를 지속함에 따라 붕산 수요는 꾸준히 증가할 것으로 예상됩니다.
건설 및 인프라 개발로 인한 수요 증가
건설 산업의 성장과 전 세계 인프라 개발의 확대는 시장 개척을 촉진하는 중요한 요인 중 일부입니다. 붕산은 건설 프로젝트의 필수적인 구성 요소인 유리 섬유 및 단열재 제조에 활용되고 있습니다. 이러한 재료는 우수한 단열성과 방음성을 발휘하기 때문에 건축, 자동차, 항공우주 분야에서 필수적인 역할을 하고 있습니다. 그 결과, 급속한 도시화와 전 세계 건설 활동 증가로 인해 이러한 응용 분야에서 붕산 수요는 크게 증가할 것으로 예상되며, 시장 확대에 대한 밝은 전망을 제공합니다.
The global boric acid market size reached USD 936.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,404.2 Million by 2033, exhibiting a growth rate (CAGR) of 4.61% during 2025-2033. The increasing use of boric acid in fertilizers to enhance crop yields and improve soil health is stimulating the market growth.
Boric acid is a chemical compound composed of boron, oxygen, and hydrogen, with the chemical formula H3BO3. It exists as a white, odorless, crystalline powder. This versatile substance finds applications in various industries, including pharmaceuticals, agriculture, and cosmetics, as an antiseptic, astringent, pesticide, and fertilizer. Besides this, boric acid is utilized in manufacturing glass, ceramics, and enamel due to its ability to act as a flux. Its mild antiseptic properties also make it popular in skin care products and eye drops.
The increasing demand for boric acid in various end-use industries such as agriculture, ceramics, glass, and pharmaceuticals, is primarily fueling its market growth. In addition to this, the bolstering growth of the agricultural sector, especially in developing regions, is fueling the need for boric acid-based fertilizers and pesticides to enhance crop yield. Furthermore, the rising demand for boric acid in the production of fiberglass and insulation materials for construction purposes is contributing to market expansion. Concurrent with this, the growing awareness about the benefits of boric acid in skin care products and eye drops is boosting its employment in the cosmetics and healthcare industries, thereby strengthening the market growth. Moreover, various other factors, such as rapid industrialization, urbanization, and infrastructure development in emerging economies, are presenting lucrative opportunities for market expansion.
Diverse applications in various industries
Boric acid's versatility and wide range of applications across diverse industries are major factors fueling its market growth. Moreover, the surging product adoption across the thriving agriculture sector as an essential micronutrient for crops to promote healthy plant growth and increase yield is propelling the market forward. Concurrent with this, boric acid acts as a flux in the ceramics and glass industries, reducing the melting point of materials and enhancing the manufacturing process of glass and ceramics products. This application is particularly crucial in the production of electronic components, display panels, and glass fibers for insulation purposes. Furthermore, boric acid finds application in pharmaceuticals as an antiseptic and astringent, contributing to its usage in the healthcare sector.
Growing agricultural sector in emerging economies
The expanding agricultural sector, especially in emerging economies, is acting as a significant growth-inducing driver for the global boric acid market. As the global population continues to grow, the demand for agricultural products rises, thereby increasing the need for boric acid-based fertilizers and pesticides. Developing regions are witnessing rapid industrialization and urbanization, leading to an increase in agricultural activities to meet the rising demand for food. Boric acid's importance as an agricultural input, such as boron-based fertilizers and pesticides, has gained traction due to its role in improving soil fertility and plant health. As emerging economies continue to modernize and invest in agriculture, the demand for boric acid is expected to grow steadily.
Rising demand from construction and infrastructure development
The construction industry's growth and the expanding infrastructure development across the globe are some of the key factors impelling the market growth. Boric acid is utilized in the manufacturing of fiberglass and insulation materials, which are integral components in construction projects. These materials provide excellent thermal and acoustic insulation properties, making them essential in buildings, automotive, and aerospace sectors. As a result, with rapid urbanization and a surge in global construction activities, the demand for boric acid in these applications is expected to witness substantial growth, creating a positive outlook for market expansion.
>=99% dominates the market
The demand for boric acid with a purity of >=99% is propelled by its essential role in high-tech industries and advanced applications. Industries such as electronics and semiconductor manufacturing require boric acid with exceptional purity levels to ensure the production of precise and reliable components. Boron doping in semiconductors is essential for optimizing electrical conductivity and enhancing device performance. Moreover, the aerospace and defense sectors use high-purity boric acid in the development of advanced materials and composites for lightweight and durable applications. As these industries continue to advance and demand cutting-edge technologies, the need for boric acid with purity >=99% is set to increase significantly.
Ceramics & fiberglass hold the largest share in the market
The demand for boric acid in ceramics and fiberglass industries is primarily driven by its unique properties that enhance product performance and manufacturing efficiency. In the ceramics sector, boric acid acts as a fluxing agent, reducing the melting point of materials and improving their workability during shaping and forming processes. This results in higher-quality ceramic products with enhanced strength and durability. For the fiberglass industry, boric acid is used as a crucial component in the production of glass fibers, providing excellent thermal and acoustic insulation properties. As a result, with the flourishing expansions of the construction and automotive sectors and the subsequent surge in demand for fiberglass-based materials, there is an increasing demand for boric acid.
Wholesale dominates the market
The widespread applications of boric acid across various industries and the economies of scale offered by bulk purchases are impelling the product sales through wholesale channels. Besides this, wholesale channels serve as a convenient and cost-effective means for industries to procure boric acid in large quantities, ensuring a steady supply for their manufacturing processes. Moreover, the wholesale distribution network allows buyers to access competitive prices and discounts for bulk orders, making it financially advantageous. Furthermore, wholesale suppliers often cater to a wide range of industries, including agriculture, pharmaceuticals, and construction, further contributing to the consistent demand for boric acid through this distribution channel. As the global market for boric acid continues to grow, wholesale channels will remain pivotal in meeting the increasing demand efficiently.
Pharmaceuticals hold the largest share in the market
The demand for boric acid across the pharmaceutical sector, driven by its valuable properties and diverse applications in medicinal products, is presenting remunerative opportunities for market expansion. Boric acid's antiseptic and astringent characteristics make it a vital ingredient in various pharmaceutical formulations, such as eye drops and topical creams for treating eye infections and skin conditions. Additionally, boric acid is used as a buffering agent in oral medications to maintain their pH levels and stabilize their effectiveness. Moreover, its role as an excipient in tablets and capsules aids in improving drug dissolution and bioavailability. With the continuous need for effective and safe pharmaceutical solutions, the demand for boric acid in the industry is expected to remain robust, creating a favorable outlook for market growth.
Asia Pacific exhibits a clear dominance, accounting for the largest boric acid market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.
Rising industrialization and urbanization in the Asia Pacific region, particularly in countries including China, India, and Southeast Asian nations, are driving the construction and automotive industries, thereby increasing the need for fiberglass and ceramics products where boric acid is a critical component. Moreover, the expanding agricultural sector in the region necessitates the use of boric acid-based fertilizers and pesticides to enhance crop yields, which, in turn, is strengthening the market growth. In addition to this, the growing pharmaceutical and healthcare industries in the Asia Pacific region are contributing to the demand for boric acid's applications in antiseptic and medicinal formulations, which is propelling the market forward.
The global boric acid market exhibits a competitive landscape with several key players vying for market share. Major manufacturers and suppliers dominate the boric acid market with a wide geographic presence and strong distribution networks. They focus on product innovation, R&D, and strategic partnerships to maintain their competitive edge. Additionally, these players adopt mergers, acquisitions, and collaborations to expand their market outreach and access new regions. The market also witnesses the participation of smaller regional players, who cater to local demands and niche applications. The competitive environment is characterized by price competitiveness, quality assurance, and adherence to international regulations. As the demand for boric acid continues to grow in various industries, competition among key players is expected to intensify, leading to further innovations and market expansion.
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report