Boric Acid Market Technological Advancements, Industry Outlook, Forecast 2024-2030

Boric Acid Market Poised for Robust Growth, Projected to Reach USD 1320.66 Million by 2030

The Boric Acid Market, valued at USD 890 million in 2023, is projected to grow at a CAGR of 5.8%, reaching nearly USD 1320.66 million by 2030. This growth is driven by its versatile applications across various industries, including agriculture, pharmaceuticals, ceramics, and construction.

Market Estimation & Definition
Boric acid (hydrogen borate) is a white, crystalline substance valued for its versatile properties, including antiseptic, insecticidal, and flame-retardant capabilities. Its wide-ranging applications cover agriculture (as a soil enhancer), ceramics (as a flux), pharmaceuticals (as an antiseptic ingredient), and construction (in fiberglass production).

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Market Growth Drivers & Opportunities

Advancements in Agriculture:
As a key micronutrient, boric acid improves soil fertility and crop productivity, bolstering the agricultural sector’s expansion.