Pune, Maharashtra, India, September 19 2022 (Wiredrelease) Market.biz –:The global market for borax, projected at US$1.3 billion in 2022, is expected to grow to US$1.9billion by 2030, growing at a CAGR of 5.8% between 2022 and 2030.
Global Borax Market by Types(Anhydrous Borax (Na2B4O7), Borax Pentahydrate (Na2B4O7 5H2O), Borax (Na2B4O7 10H2O)), End Use(borax Acid, Fiberglass, Enamel)- Global Opportunity Analysis and Industry Forecast, 2022-2030, is a new report from Market.Biz. The report examines key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and the competitive landscape in depth. This study is an excellent source of information for market participants, investors, VPs, stakeholders, and new entrants seeking a thorough understanding of the industry and determining steps to take to gain a competitive advantage.
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The increased use of borax in glass and textile fiberglass is driving the borax market. Because of its heat and chemical resistance, as well as scratch and shock resistance, borax is used in glass and textile fiberglass. Borax also adds strength and durability to a variety of products ranging from cell phones to solar panels. The presence of a large number of substitutes, such as borax and washing soda, is a major impediment to the global borax market.
The U.S. Market is Estimated at $327.9 Million, While China is Forecast to Grow at an 8.5% CAGR
In 2022, the Borax market in the United States is expected to be worth $327.9 million. China, the world’s second-largest economy, is expected to reach a market size of $368 million by 2030, with a CAGR of 8.5% from 2022 to 2030. Japan and Canada, for example, are expected to grow at 2.9% and 4.8%, respectively, between 2022 and 2030. Germany is expected to grow at a CAGR of 3.2% in Europe.
Global Borax Market Segmentation
Key Players
Borax
Searles Valley Minerals
Orocobre
Borax Morarji Limited
Elsmere Canyon
U.S. Borax, Inc
Raj Borax Private Ltd
By Types:
Anhydrous Borax (Na2B4O7)
Borax Pentahydrate (Na2B4O7 5H2O)
Borax (Na2B4O7 10H2O)
By Application:
Boric Acid
Fiberglass
Enamel
Key Benefits:
• To identify new opportunities, the report conducts a qualitative and quantitative analysis of current borax market trends, forecasts, and market size from 2022 to 2030.
• Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of industry competition.
• The research highlights the top influencing factors and major investment pockets.
• Each region’s major countries are examined, and their revenue contributions are noted.
• The market player positioning segment explains the current position of the market players in the borax industry.
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Reason to Buy
• Save and reduce time conducting entry-level research by identifying the global Borax Market’s growth, size, leading players, and segments.
• Highlights key business priorities to help Borax-related companies reform their business strategies and establish themselves across a broad geography.
• The key findings and recommendations highlight important progressive industry trends in the Borax Market, allowing players to develop effective long-term strategies to increase market revenue.
• Create/modify business expansion plans by utilizing significant growth opportunities in developed and emerging markets.
• Examine in-depth global Borax market trends and outlook, as well as the factors driving the market and, to some extent, those restraining growth.
• Improve decision-making by comprehending the strategies that underpin commercial interest in products, segmentation, and Borax industry verticals.
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