Asia Pacific Boron Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The Asia Pacific boron market is projected to grow significantly, reaching approximately US$ 4,654.81 million by 2031, up from US$ 3,322.79 million in 2023, with a compound annual growth rate (CAGR) of 4.3% during this period.

Executive Summary and Market Analysis

The boron market in the Asia Pacific region is primarily driven by the rapid growth of the glass, electronics, agriculture, and pharmaceutical sectors. Increased awareness of energy-efficient glass for construction and advancements in the solar industry are expected to enhance the demand for glass, thereby boosting boron consumption. Photovoltaic (PV) modules, which are integral to solar applications, utilize architectural laminated glass cover plates, indicating a strong correlation between the glass industry's expansion and boron demand. The region hosts several major and numerous smaller players in the glass sector, all contributing to the boron market's growth. Companies are actively pursuing strategies such as new product launches and R&D investments. For instance, in April 2022, AGC, a Japanese glass manufacturer, introduced a building-integrated PV panel suitable for various architectural needs, which can be installed in facades and canopies. Borosilicate glass, which contains boron, is favored for its superior clarity and strength in sunlight transmission, making it a preferred choice for solar panel manufacturers.

In agriculture, the boron market is bolstered by increasing awareness of crop protection chemicals, government subsidies, population growth, and rising food demand. Boron is commonly mixed with fertilizers and applied directly to crops or through irrigation systems. The demand for high-quality agricultural products and the need for increased productivity are particularly pronounced in countries like China, Japan, and India, which have high consumption rates of boron due to their robust agricultural sectors. The Asian Development Bank notes that rising incomes and urbanization are changing food consumption patterns, while international policies on pesticide management are aiding government efforts in the region. The Food and Agriculture Organization's (FAO) International Code of Conduct on pesticide distribution has also significantly supported pest management initiatives, further driving boron demand.

Market Segmentation

The Asia Pacific boron market can be segmented by derivatives and end-use industries.

Derivatives: The market includes borax, boric acid, boron nitride, boron carbide, boron oxide, and others, with boron nitride holding the largest market share in 2023.
End-Use Industries: The market is divided into agrochemicals, glass, ceramics, detergents, pharmaceuticals, electrical and electronics, and others, with the glass segment dominating in 2023.

Market Outlook

Boron is a vital micronutrient for plant growth, particularly for root and shoot development. It is included in fertilizer programs for high-value crops and acts as a catalyst for other nutrients. Common boron compounds used in fertilizers include boric acid, sodium tetraborate, and borax. China is a leading global producer and consumer of fertilizers, accounting for over 50% of worldwide fertilizer consumption, which significantly impacts the agrochemicals sector. Boron-based herbicides are derived from borax and boric acid, with borax decahydrate and pentahydrate being the most utilized in fertilizers.

Boron powder is highly soluble and serves as a crop nutrient spray. Its application is crucial for high-demand crops such as alfalfa, sugar beets, and soybeans. In 2022, the US, Brazil, and China reported substantial soybean production, indicating a strong demand for boron in the agrochemicals industry.

Country Insights

The Asia Pacific boron market includes Australia, China, India, Japan, South Korea, and other regions, with China leading in market share in 2023. As one of the fastest-growing economies, China is a major hub for glass manufacturing, accounting for nearly 70% of global glass fiber production. The demand for glass in construction and electronics is driving boron market growth in China. With a large population and limited arable land, the country produces a significant portion of the world's grain, which is expected to further stimulate the boron market as agriculture expands.

Additionally, the Chinese government is heavily investing in the semiconductor industry, which is anticipated to increase boron demand due to its applications in electronics.

Company Profiles

Key players in the boron market include Hoganas AB, 3M Co, Ube Corporation, Arkema SA, JFE Mineral & Alloy Co Ltd, and others. These companies are focusing on expansion, product innovation, and strategic mergers and acquisitions to enhance their market presence and offer innovative solutions to consumers.

Product Code: BMIRE00032111

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Asia Pacific Boron Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Intensity of Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Boron Manufacturers
- 4.3.3 Distributors
- 4.3.4 End-Use Industry
4.4 List of Vendors in the Value Chain

5. Asia Pacific Boron Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growth of Glass & Ceramics Industry
- 5.1.2 Surge in Demand from Agrochemicals Industry
5.2 Market Restraints
- 5.2.1 Fluctuations in Boron Prices
5.3 Market Opportunities
- 5.3.1 Growing Investments in Aerospace & Defense Industry
5.4 Future Trends
- 5.4.1 Surging Utilization of Boron Nanoparticles in Several Industries
5.5 Impact of Drivers and Restraints:

6. Boron Market - Asia Pacific Analysis

6.1 Asia Pacific Boron Market Volume (Kilo Tons), 2021-2031
6.2 Asia Pacific Boron Market Volume Forecast and Analysis (Kilo Tons)
6.3 Asia Pacific Boron Market Revenue (US$ Million), 2023-2031
6.4 Asia Pacific Boron Market Forecast and Analysis

7. Asia Pacific Boron Market Volume and Revenue Analysis - by Derivatives

7.1 Borax
- 7.1.1 Overview
- 7.1.2 Borax: Asia Pacific Boron Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.1.3 Borax: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Boric Acid
- 7.2.1 Overview
- 7.2.2 Boric Acid: Asia Pacific Boron Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.2.3 Boric Acid: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.3 Boron Nitride
- 7.3.1 Overview
- 7.3.2 Boron Nitride: Asia Pacific Boron Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.3.3 Boron Nitride: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Boron Carbide
- 7.4.1 Overview
- 7.4.2 Boron Carbide: Asia Pacific Boron Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.4.3 Boron Carbide: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.5 Boron Oxide
- 7.5.1 Overview
- 7.5.2 Boron Oxide: Asia Pacific Boron Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.5.3 Boron Oxide: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.6 Others
- 7.6.1 Overview
- 7.6.2 Others: Asia Pacific Boron Market - Volume and Forecast, 2021-2031 (Kilo Tons)
- 7.6.3 Others: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. Asia Pacific Boron Market Revenue Analysis - by End-use Industry

8.1 Agrochemicals
- 8.1.1 Overview
- 8.1.2 Agrochemicals: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Glass
- 8.2.1 Overview
- 8.2.2 Glass: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 Ceramics
- 8.3.1 Overview
- 8.3.2 Ceramics: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.4 Detergents
- 8.4.1 Overview
- 8.4.2 Detergents: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.5 Pharmaceuticals
- 8.5.1 Overview
- 8.5.2 Pharmaceuticals: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.6 Electrical and Electronics
- 8.6.1 Overview
- 8.6.2 Electrical and Electronics: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.7 Others
- 8.7.1 Overview
- 8.7.2 Others: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. Asia Pacific Boron Market - Country Analysis

9.1 Asia Pacific
- 9.1.1 Asia Pacific Boron Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.1 Asia Pacific Boron Market Volume and Forecast and Analysis - by Country
  - 9.1.1.2 Asia Pacific Boron Market Revenue and Forecast and Analysis - by Country
  - 9.1.1.3 Australia: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.3.1 Australia: Asia Pacific Boron Market Share - by Derivatives
    - 9.1.1.3.2 Australia: Asia Pacific Boron Market Share - by End-use Industry
  - 9.1.1.4 China: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.4.1 China: Asia Pacific Boron Market Share - by Derivatives
    - 9.1.1.4.2 China: Asia Pacific Boron Market Share - by End-use Industry
  - 9.1.1.5 India: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.5.1 India: Asia Pacific Boron Market Share - by Derivatives
    - 9.1.1.5.2 India: Asia Pacific Boron Market Share - by End-use Industry
  - 9.1.1.6 Japan: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.6.1 Japan: Asia Pacific Boron Market Share - by Derivatives
    - 9.1.1.6.2 Japan: Asia Pacific Boron Market Share - by End-use Industry
  - 9.1.1.7 South Korea: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.7.1 South Korea: Asia Pacific Boron Market Share - by Derivatives
    - 9.1.1.7.2 South Korea: Asia Pacific Boron Market Share - by End-use Industry
  - 9.1.1.8 Rest of APAC: Asia Pacific Boron Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.8.1 Rest of APAC: Asia Pacific Boron Market Share - by Derivatives
    - 9.1.1.8.2 Rest of APAC: Asia Pacific Boron Market Share - by End-use Industry

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning and Concentration

11. Industry Landscape

11.1 Overview
11.2 Market Initiative
11.3 Partnerships and Collaborations

12. Company Profiles

12.1 Nippon Denko Co., Ltd.
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Hoganas AB
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 3M Co
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 UBE Corporation
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Arkema SA
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 JFE Mineral & Alloy Co Ltd
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Tokyo Chemical Industry Co Ltd
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Rio Tinto Ltd
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Compagnie de Saint Gobain SA
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Eti Maden
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
12.11 Stella Chemifa Corporation
- 12.11.1 Key Facts
- 12.11.2 Business Description
- 12.11.3 Products and Services
- 12.11.4 Financial Overview
- 12.11.5 SWOT Analysis
- 12.11.6 Key Developments
12.12 FREEMAN (JAPAN) CO., LTD.
- 12.12.1 Key Facts
- 12.12.2 Business Description
- 12.12.3 Products and Services
- 12.12.4 Financial Overview
- 12.12.5 SWOT Analysis
- 12.12.6 Key Developments
12.13 KROSAKI HARIMA CORPORATION
- 12.13.1 Key Facts
- 12.13.2 Business Description
- 12.13.3 Products and Services
- 12.13.4 Financial Overview
- 12.13.5 SWOT Analysis
- 12.13.6 Key Developments
12.14 Washington Mills Electro Minerals Limited
- 12.14.1 Key Facts
- 12.14.2 Business Description
- 12.14.3 Products and Services
- 12.14.4 Financial Overview
- 12.14.5 SWOT Analysis
- 12.14.6 Key Developments
12.15 Boron Specialties, LLC
- 12.15.1 Key Facts
- 12.15.2 Business Description
- 12.15.3 Products and Services
- 12.15.4 Financial Overview
- 12.15.5 SWOT Analysis
- 12.15.6 Key Developments

13. Appendix

13.1 About Us