What is Global Borate Mineral Market?
The Global Borate Mineral Market is a vast and dynamic sector that encompasses a wide range of minerals, including borax, ulexite, colemanite, kernite, and others. These minerals are primarily used in various industries such as glass, ceramics, agriculture, detergents, and more. The market's value was estimated at US$ 1963 million in 2023 and is projected to reach US$ 2829.9 million by 2030, growing at a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2024 to 2030. Borax, ulexite, colemanite, kernite, and others are the key minerals in the Global Borate Mineral Market. Borax is the most dominant, accounting for over 70% of the market share. These minerals are extracted from various parts of the world and processed for use in different industries. Borax, for instance, is a versatile mineral used in glass manufacturing, ceramics, and detergents. Ulexite, on the other hand, is used in the production of fiberglass, ceramics, and as a fertilizer in agriculture. Colemanite is used in the manufacture of heat-resistant glass, while kernite is used in the production of borax and other boron compounds. The Global Borate Mineral Market finds extensive application in various sectors. In the glass industry, borate minerals are used to make borosilicate glass, which is resistant to heat and chemicals. In ceramics, they are used as a flux to lower the melting point of raw materials during the firing process. In agriculture, borate minerals are used as micronutrients in fertilizers to enhance crop yield. They are also used in the production of detergents due to their excellent cleaning properties. Other applications include the manufacture of flame retardants, corrosion inhibitors, and wood preservatives. The Global Borate Mineral Market has shown significant growth over the years. In 2023, the market was valued at US$ 1963 million. However, it is expected to reach a value of US$ 2829.9 million by 2030. This represents a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2024 to 2030. The top three manufacturers in this market hold a share of over 80%, indicating a high level of market concentration. Borax is the largest product segment in this market, holding a share of over 70%.
Borax, Ulexite, Colemanite, Kernite, Others in the Global Borate Mineral Market:
English: #GlobalBorateMineralMarket #Borax #Ulexite #Colemanite #Kernite #GlassIndustry #Ceramics #Agriculture #Detergents #MarketGrowth
Glass, Ceramics, Agriculture, Detergents, Others in the Global Borate Mineral Market:
Japanese: #グローバルボレート鉱物市場 #ボラックス #ウレキサイト #コールマナイト #ケルナイト #ガラス業界 #セラミックス #農業 #洗剤 #市場成長
Global Borate Mineral Market Outlook:
Korean: #글로벌보레이트광물시장 #보락스 #울렉사이트 #콜마나이트 #커나이트 #유리산업 #세라믹 #농업 #세제 #시장성장
| Report Metric | Details |
| Report Name | Borate Mineral Market |
| Accounted market size in 2023 | US$ 1963 million |
| Forecasted market size in 2030 | US$ 2829.9 million |
| CAGR | 5.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Eti Mine Works, Rio Tinto (Borax), Quiborax, Inkabor, MCC Russian Bor, Minera Santa Rita, Orocobre, Searles Valley Minerals |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
