Calcium Borate Market Growth, Size, Share, Trends, and Forecast 2030

Calcium Borate Industry Prospective:

The global calcium borate market size was evaluated at $10 billion in 2022 and is slated to hit $15 billion by the end of 2030 with a CAGR of nearly 5.8% between 2023 and 2030.

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Calcium Borate Market: Overview

Calcium borate is a compound that is prepared by making calcium metal and boric acid react with each other. Apart from this, the compound can be extracted from ulexite ores and colemanite ores. Furthermore, it is a bluish-white crystal and is utilized as a fertilizer, ceramic flux, and flame retardant. For the record, ceramic flux includes the use of calcium borate as a key raw material in the production of glass. The compound also finds large-scale applications in textile glass fibers.

Key Insights

• As per the analysis shared by our research analyst, the global calcium borate market is projected to expand annually at the annual growth rate of around 5.8% over the forecast timespan (2023-2030)
• In terms of revenue, the global calcium borate market size was evaluated at nearly $10 billion in 2022 and is expected to reach $15 billion by 2030.
• The global calcium borate market is anticipated to grow rapidly over the forecast timeline owing to the surging use of products in the automotive, construction, and farming sectors.
• In terms of application, the flame retardants segment is slated to register the highest CAGR over the analysis period.
• Based on end-user, the construction segment is projected to record a massive surge in the coming years.
• Region-wise, the Middle East and African calcium borate industry is expected to register the fastest CAGR during the assessment timeline.

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Calcium Borate Market: Growth Factors

Rising usage of products in construction & automotive sectors to drive global market trends 

The surging use of products in the automotive, construction, and farming sectors will boost the growth of the global calcium borate market. Escalating product penetration in various end-use sectors owing to its flame retarding features will steer the global market expansion. In addition to this, the rising need for enhancing crop yield will boost the global market expansion in the years ahead. Moreover, the cost of calcium borate is relatively higher as compared to other compounds and hence finds use in specific applications. In addition to this, they are also utilized in ceramic glazes, food preservatives, medicines, and a large number of other applications. Apart from this, colemanite is a kind of calcium-bearing borate that possesses inherent beneficial features such as low water solubility, thereby further enhancing the demand for calcium borate. New product launches are predicted to contribute majorly towards the global market proceeds in the upcoming years. For instance, in the first half of 2019, Orient Bell Limited, a key ceramic tiles manufacturer, introduced a new horizon tiles series that had contrasting effects.  

Calcium Borate Market: Restraints

High raw component costs can inhibit the global industry surge over 2023-2030

Huge raw material costs due to their low supply along with disruption in supply chain activities and lack of distribution of products can pose a huge impediment to the growth of the calcium borate industry globally. Additionally, strict government laws pertaining to licensing and use of the compound can further hinder the global industry surge over the forecast period.  

Calcium Borate Market: Opportunities

An increase in the GDP of emerging economies can create new growth facets for the global market   

A prominent surge in the GDP of developing countries including BRICS countries is predicted to open a spectrum of growth avenues for the global calcium borate market in the upcoming years.  

Calcium Borate Market: Challenges

Availability of apt product alternatives to prove a big challenge for the global industry surge over forecasting timeline

The easy availability of product substitutes can pose a huge challenge in the growth of the global calcium borate industry in the years ahead.

Calcium Borate Market: Segmentation

The global calcium borate market is sectored into application, end-user, and region.                   

In application terms, the global calcium borate market is segregated into fertilizers, flame retardants, ceramic flux & glazes, and reinforced glass fibers segments. Furthermore, the flame retardants segment, which gained approximately 61% of the global market revenue in 2022, is projected to register the highest gains in the forthcoming years. The growth of the segment during the assessment period can be credited to the large-scale use of products as flame retardants in a plethora of end-use industries. 

Based on the end-user, the global calcium borate industry is sectored into construction, agriculture, automotive, and others segments. Moreover, the construction segment, which accumulated the largest share of the global industry in 2022, is anticipated to dominate the segmental sphere in the next couple of years. The expansion of the segment in the ensuing years can be owing to the humungous use of products in construction activities in emerging economies of APAC and LATAM.

Calcium Borate Market: Report Scope

Calcium Borate Market: Regional Insights

Asia-Pacific is predicted to maintain its dominant position in the global Calcium Borate market over the prognosis timespan

Asia-Pacific, which amassed approximately 43% of the global calcium borate market revenue share in 2022, is predicted to dominate the regional landscape in the upcoming years. Additionally, the regional market expansion over the ensuing years can be credited to the surging use of epoxy compounds in the electronics & electrical, and automotive sectors. In addition to this, a rise in the use of products in construction activities in densely populated countries such as China and India will proliferate the regional market size. In addition to this, favorable government policies and an increase in foreign direct investments in the region will prompt the regional market size in the years ahead.

The Middle East and African calcium borate industry is set to register the highest CAGR in the upcoming years owing to a rise in the use of products as petrochemical additives used for manufacturing petroleum products such as petrol, diesel, and gasoline. Countries such as Saudi Arabia Kuwait, Iraq, and UAE are projected to be key regional revenue drivers.  

Calcium Borate Market: Competitive Space

The global calcium borate market profiles key players such as:

• Chemtura
• AkzoNobel N.V
• Albemarle Corporation
• Clariant AG
• BASF SE
• Bayer Material Science
• Corporation
• E.I. Du Pont De Nemours and Company
• Hainan Zhongxin Chemical Co. Ltd
• Lanxess
• Oceanchem Group Limited
• Novista Chemicals
• Shandong Shouguang Shen Runfa Ocean Chemical Co. Ltd
• Weifang Graceland Chemicals Co. Ltd
• Qingdao On-Billion Industrial Co. Ltd.

The global calcium borate market is segmented as follows:

By End-User

• Construction
• Automotive
• Agriculture
• Others

By Application

• Flame Retardants
• Ceramic Flux & Glazes
• Fertilizers
• Reinforced Glass Fibers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa