Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "Boron Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global boron market is expected to witness steady growth over the forecast period. The market is projected to grow from $3.87 billion in 2022 to $4 billion in 2023 at a Compound Annual Growth Rate (CAGR) of 3.4%. Further, it is estimated to reach $4.88 billion in 2027 at a CAGR of 5.1%.
Factors Driving Growth
The growth in the boron market is attributed to several factors, including increasing demand for mining, advancements in technologies, and the emergence of new markets. Mining, which accounted for approximately 10% of Australia's total GDP in 2020, has been a significant contributor to the country's economy. Additionally, the global production of various minerals, including potash and bauxite, saw an increase of over 5% in 2020 compared to the previous year.
Moreover, 3D printing technology has become prevalent in the mining industry, enabling the onsite manufacture of critical parts in remote locations. This capability reduces delays caused by unplanned maintenance and eliminates the need for holding inventories, which is a major trend in the boron market.
Market Overview
The Middle East is the largest region in the boron market. The regions covered in the boron market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major Players
Some of the major players in the boron market include Boron Molecular Pty Limited, Boron Specialities LLC, Ceradyne Inc., 3M, and S B Boron Corporation.
Conclusion
The boron market is expected to witness steady growth in the coming years, driven by factors such as increased demand for mining, technological advancements, and the adoption of 3D printing technology. The Middle East holds a prominent position in the market, and key players continue to play a significant role in shaping its growth trajectory.
Key Topics Covered
1. Executive Summary
2. Report Structure
3. Boron Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Boron Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Boron Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Boron Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Boron Market Trends And Strategies
8. Boron Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market
9. Boron Market Regional Analysis
9.1. Global Boron Market, 2022, By Region, Value ($ Billion)
9.2. Global Boron Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
9.3. Global Boron Market, Growth And Market Share Comparison, By Region
10. Boron Market Segmentation
10.1. Global Boron Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.1.1. Aerospace Composite Materials
10.1.2. Boronated Glasses
10.1.3. Others - Boron
10.2. Global Boron Market, Segmentation By Mining Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.2.1. Underground Mining
10.2.2. Surface Mining
11. Boron Market Metrics
11.1. Boron Market Size, Percentage Of GDP, 2017-2022, 2022-2027F, 2032F, Global
11.2. Per Capita Average Boron Market Expenditure, 2017-2022, 2022-2027F, 2032F, Global
A selection of companies mentioned in this report includes:
- Boron Molecular PTY Limited
- Boron Specialities LLC
- Ceradyne Inc.
- 3M
- S B Boron Corporation
For more information about this report visit https://www.researchandmarkets.com/r/mhvm07
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