Boron oxide is white, glassy, solid and also known as diboron trioxide. The global market size for industrial grade and high purity grade boron oxide is expected to reach xx$ Bn. by 2027 from xx$ Bn. in 2019. The report has covered, raw material availability and its analysis, demand drivers by region, pricing by region, and profit margins of key players in the industry. Brief analysis of restraints and challenges in the market are also covered with the examples by region. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments and key trends in the market.
Scope of Global Boron Oxide Market
Global Boron Oxide Market, By Application
• Glass Formulations
• Ceramics
• Metallurgy
• Refractories
By Application, Glass Formulation is expected to be the largest market share and grow at xx$ Bn. CAGR in the forecast period.
Boron oxide is widely used by large number of manufacturers in glass formulations. There is currently no alternative to compete with boron oxide in the glass formulation for his unique applications such as heat resistant cookware, laboratory ware, and liquid crystal display (LCD) screens, etc. The use of borosilicate glasses shows their unique properties like low coefficient of thermal expansion, high thermal shock resistance, and good chemical inertness.
Global Boron Oxide Market
Global Boron Oxide Market, By End User
• Borosilicate Glass
• E-Class Glass
Global Boron Oxide Market1
By End User, soldering and welding fluxes segment leads the global market with the largest share.
Boron Oxide covers the outer surface of the metal thereby excluding air and prevent oxidation of metal. It acts as a solvent in dissolving metal oxides surrounding the metal to be jointed as well as serve as detergent for cleaning; floating away dissolved oxides, grease, and other foreign matters.
Global Boron Oxide Market, By Region
• North America
• Europe
• Asia-Pacific
• MEA & Africa
• Latin America
APAC is expected to hold largest market share in the global boron oxide market during the forecast period, both in terms of value and volume.
The Asia Pacific is the largest producer of glass fiber, electronic devices, and ancillary parts in the world. The export and manufacturing services in the Asia Pacific is the reason behind the surging demand of the global market in this region. The Asia Pacific accounts for 50% of the total global demand, led by China, Japan, Korea, and India. Demand for boron oxide from North America and Europe follows that from the Asia Pacific.North America is the second-largest growing region for the boron oxide market due to the increase in demand for boron oxide in the metals, alloy, and glass industry.
Global Boron Oxide Market2
Market Dynamics
Drivers: Growing use of boron oxide as raw material or additive in different material production process.
The production of glass involve large number of chemical reactions with boron oxide as raw material which is completely consumed and finally transformed into a new substance with a different structure and different characteristics. Along with this, boron oxide has its additional properties for dissolution of raw material and maintain the temperature in the production process. Most laboratory glassware for example Pyrex or Hysil is now made of borosilicate glass which is made from boron oxides.
Restraints: gradual popularity of boron free glass fibers and flat glass.
Boron-free glass has better fundamental properties as compared to borosilicate glass. The corrosion-resistant boron-free E-glass fiber effectively prevents the brittle fracture which is mostly occur with boron oxide. Glass which is made up of commonly used boron oxide failed mechanically in less than 2 h whereas the glass based on the corrosion-resistant boron-free fiber have less chances of visible damage.
Opportunities: opportunity exists in the surging electronics application.
Boron oxide occurs in several polymorphs, from which cubic and hexagonal varieties have found numerous electronic applications. Various forms of BO have been used as a lubricant and abrasive material for their electronic properties. Due to their wide optical bandgaps, cubic and hexagonal polymorphs of BO is generally used for optoelectronic devices operating in the deep-ultraviolet range. It is also used in high-power electronic devices for switching and radio-frequency applications. Their hexagonal polymorph allows the preparation of ultrathin nanosheets with very smooth surfaces and low defect density, which are proved to be useful as supporting substrates and gate dielectric layers in graphene-based structures.
Covid-19 Impact on the smart phone market:
• The coronavirus pandemic has placed tremendous pressure on businesses and sectors across the globe. The governments from all countries have introduced a lock-up to detect the transmission of infectious disease. The contribution of these regulations makes negative impact on delay in the production and supply chain.
• The coronavirus adversely impacted metal processing, chemical manufacturing, and electronic equipment. The interruption of export and import operations due to limitations on foreign flights would further restrict the market’s development. The disruption caused by the lockdown would harm the market. Strong strategies for the manufacture and procurement of raw materials would have a destructive effect on the boron oxide industry.
The objective of the report is to present a comprehensive analysis of the Global Boron Oxide Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Boron Oxide Market dynamics, structure by analysing the market segments and projects the Global Boron Oxide Market size.
Global Boron Oxide Market Key Players
• GFS Chemicals Inc.
• The Chemical Company
• HDG Chemicals Ltd.
• Acemler Chemco San A.S
• Okandan Cam Sanayi Chemical Co.
• BASF SE
• Akzo Nobel N.V.
• RPM International Inc.
• PPG Industries Inc.
• Hempel A/S
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