Boron is a chemical element produced by the process of cosmic ray spallation. There is low abundance of boron and are found in mines in the form of colemanite, kernite, tincal, and ulexite. Boron is used in various daily used products such as LCD screens, composites used in car body panels, glass wool for loft insulation and others in the form of borosilicate glass, ferro boron, insulation-grade materials and fiberglass. Major end-use industries, using boron as a raw material include glass, agriculture, ceramics, detergents, pharmaceuticals and others.
Growing demand for electronic products and increasing penetration of fiberglass in markets conventionally held by concrete and steel, are expected to drive boron market growth. Fiberglass penetration in turbine blades in wind power generation is also expected to positive influence on boron market development. Increase in construction spending, leading to fiberglass demand for communal structure such as bridges and roads is expected to come up as a new opportunity for the global boron market. Scarcity of boron, very concentrated reserves and multifaceted manufacturing process may be a challenge for participants in the global boron market.
Europe was the largest regional boron market, in terms of supply, owing to significant reserves in Turkey which in combination account for more than one third of the total reserve across the globe. Europe was followed by Latin America and North America, respectively. Asia Pacific is the largest consuming boron market, owing to growing demand for fiberglass in various industries including electronic products and automotive. Major players for the global boron market include Boron Molecular, Boron Specialities LLC., Ceradyne, Inc., 3M, SB Boron, Dalian Jinma Boron Technology Group Co. Ltd., ETI mines, Rio Tinto, Quiborax, Manufacturas Los Andes and Mudanjiang Jingangzuan Boron Carbide.
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