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Global Boron Market Size, Share, Industry Outlook Forecast 2018-2025

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The Global Boron market size is anticipated to grow at a moderate CAGR of xx% and reach to USD xx Million by 2025 mounting from USD xx Million in 2017 over the forecast period. One of the major factors driving the boron market growth is increasing demand for electronic products and rising penetration of fiberglass in markets predictably held by steel and concrete. Moreover, penetration of fiberglass in turbine blades for wind power generation is also anticipated to positively impact development of global boron market. Besides, growth of construction industry, is also leading to higher fiberglass demand for communal construction for instance bridges and roads is estimated to provide the global boron market with new opportunities. On the other hand, low availability of boron, complex process of manufacturing and enormously concentrated reserves are major restraints towards the growth of boron market.

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Boron has been named for the mineral borax, derived from the Persian name burah for that mineral. It is a chemical element that is produced with the process known as cosmic ray spallation. Boron finds its usage in several products that are used in day to day activities for instance composites used in car body panels, LCD screens, glass wool for loft insulation and others in the form of ferro boron, borosilicate glass, insulation-grade materials as well as fiberglass. Furthermore, major end-use industries, using boron as their raw material include agriculture, glass, ceramics, pharmaceuticals, detergents and others.

Geographical segmentation of global boron market is led by Europe acquiring largest share in terms of supply. This is because of the substantial reserves in Turkey that accounts for more than one third of the total reserve across the world. Further, Europe was trailed by Latin America as well as North America respectively. Additionally, Asia Pacific is the largest consumer of boron market, on account of rising demand for fiberglass in several industries including electronic products & automotive.

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