Global Elemental Boron Market Size, Share, and Growth Report 2030

Global Elemental Boron Market Size, Share, and Growth Report 2030

The global elemental boron market was worth approximately USD 56 million in 2022 and is expected to increase to approximately USD 71 million by 2030, with a compound annual growth rate (CAGR) of approximately 3.95% between 2023 and 2030.

Elemental Boron Market: Overview

Elemental boron is a non-metallic chemical element that is the lightest member of the periodic table’s boron group. Elemental boron is a brittle, black, glossy solid that is insoluble in water. It is a poor heat and electrical conductor. Boron occurs naturally in trace amounts, but it is most typically synthesized through the reduction of boron trichloride with hydrogen gas. It has a wide range of industrial applications and is used in everything from glass and ceramics to nuclear control systems. Boron consumption is predicted to reach 5,500 kilotons by 2030 due to its application in various sectors.

Elemental Boron Market: Growth Drivers

The aerospace industry’s increasing need for elemental boron will fuel market expansion throughout the forecast period.

Boron of high grade is utilized in the manufacture of aircraft components such as jet engines and rocket engines. The aerospace industry is also quickly expanding, which is driving up demand for high-quality boron. The worldwide aerospace sector is expected to grow by USD 1 trillion in the next 6-7 years. This expansion is being driven by rising air transport demand, the expansion of the defense industry, and the development of new technology such as drones and electric aircraft. Furthermore, elemental boron is utilized to make lightweight, high-strength structural components for aviation and spacecraft in the form of boron fibers and composites. Boron-based composites are well-known for their outstanding stiffness, strength, and temperature resistance. They are employed in applications such as airframes, wings, and fuselages where weight reduction, high performance, and durability are vital.

Elemental Boron Market: Segmentation

The global Elemental Boron market is divided into three sections: type, application, and geography.

The global market is divided into two types: amorphous boron and crystalline boron. The amorphous boron segment now dominates the worldwide elemental boron market. Amorphous boron’s features, such as its high melting point, hardness, and low density, make it an ideal material for a wide range of applications. Amorphous boron has a melting point of 2300°C and a Mohs hardness of 9.3. This makes it a particularly strong and long-lasting substance. Amorphous boron also has a density of 2.45 g/cm3. This makes it a lightweight material, which is useful in applications where weight is a crucial consideration. Amorphous boron also has a high thermal conductivity of 60 W/mK. This makes it an excellent choice for applications where heat dissipation is critical.

Elemental Boron Market: Regional Analysis

Asia Pacific to lead the market during the forecast period

Strong electronic industry and booming aerospace and defense industry are generating more revenue pockets for the elemental boron industry in the APAC market. The electronics industry is a major consumer of elemental boron. The electronics industry in Asia Pacific is attracting significant investment from both domestic and foreign investors. As a fact, in 2021, the electronics industry in Asia Pacific attracted a record USD 150 billion in investment. Moreover, the Regional Comprehensive Economic Partnership (RCEP) agreement, which came into effect in January 2022, is expected to boost trade in electronics goods between the member countries. Boron is used in the production of semiconductors, which are used in a variety of electronic devices, such as computers, smartphones, and TVs.

Elemental Boron Market: Competitive Analysis

The global elemental boron market is dominated by players like:

SB Boron
Pavezyum Kimya
Höganäs
Noah Technologies Corporation
Borman(Tronox)
New Metals and Chemicals
YingKou Liaobin Fine Chemicals
Baoding Pengda New Material Technology
Dandong Chemical Engineering Institute (DCEI)
SkySpring Nanomaterials

The global elemental boron market is segmented as follows:

By Type

Amorphous Boron
Crystalline Boron

By Application

Metallurgy
Automotive
Aerospace and Defense
Ceramics
Other Applications

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

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