Transparency Market Research Report Added "Boron Market" to its database.
Albany, NY -- (SBWIRE) -- 01/20/2015 -- Boron is a low abundance chemical element synthesized by cosmic ray spallation. Boron is mined in four forms which are colemanite, tincal, ulexite and kernite. Boron has applications in various industries which include fiber class, borosilicate glass, ceramics, agriculture, construction, detergents, ferro boron and insulation grade materials among others.
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The boron market is driven mainly by building and construction industry with fiberglass having highest application share. The growing populations and improving building standards is one of the main factors for increase in the construction industry. Increasing demand in construction activity and government initiatives to reduce the energy consumption are fueling the boron based insulation fiberglass. Use of fiber glass in civil structure such as roads, bridges and others is expected to open a new opportunity for the boron based fiber glass market. Research & developments coupled with technological advances improving the properties of boron based materials and widening the applications area. Use of the boron fiber glass in reinforced plastics is expected to drive the market in near future. Low abundance, concentrated reserves and complex manufacturing process are the main restraints for the boron market.
China is the largest the consumer of the boron based materials. Boron reserves are highly concentrated in Turkey and the U.S. producing natural and refined borates. Turkey is the largest producer of the boron and its derivates. The U.S. and Turkey based industries are focusing on the Chinese market as it is the largest producer of the textile grade material and construction activities are growing at higher rate to accommodate the growing population. The U.S. is the largest producer of the insulation grade material and forms the second largest market for boron and its derivatives. Europe is growing at lower growth rate as compare to Asia-Pacific region as the production cost is higher. Some of the major players include ETI mines, Rio Tinto, Quiborax, Manufacturas Los Andes and others.
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