Boric Acid Market Share

North America Market Forecast

North America boric acid market is set to capture revenue share of around 44% by the end of 2037. The strong presence of key market players and high use in the automotive and aerospace components is fueling the overall market growth. The U.S. and Canada both are lucrative marketplaces for boric acid producers.

As per the analysis by the United States Geological Survey (USGS), most of the boric acid products consumed in the U.S. are domestically manufactured. The countries that imported boric acid in 2023 from the U.S. are Mexico, China, Japan, and Malaysia. Further, the Observatory of Economic Complexity report reveals that 29.1% of boric acid exports across the world were from the U.S.

According to the World Integrated Trade Solution Report 2023 around 12,339,900 kg of boric acid was imported into Canada. Wherein, in 2022 the boric acid import value amounted to USD 12.1 million. The swiftly expanding pharma and pesticide industries are pushing the sales of boric acid in the country.

Asia Pacific Market Statistics

In Asia Pacific, the consumption of boric acid is estimated to increase at a high pace during the projected period. The rapidly expanding industrial activities in sectors such as automotive, agriculture, pharma, cosmetics, and aerospace are generating profitable opportunities for boric acid producers. Japan, China, India, and South Korea are the most profitable marketplaces for boric acid manufacturers.

India’s swiftly increasing agricultural sector is positively influencing the consumption of boric acid. Boric acid is also finding widespread use in fertilizers to accelerate the growth of crops such as cotton, rice, wheat, and fruits. The growing demand for high-yield quality crops is propelling the use of boric acid in fertilizers. Furthermore, India being the 2^nd largest producer of wheat, rice, and fruits is creating a win-win opportunity for boric acid manufacturers.

The report by the Observatory of Economic Complexity reveals that China totaled around USD 262 million in boric acid imports in 2022. The rising production of glass particularly fiberglass and flat glass is augmenting the sales of boric acid. Furthermore, the growing demand for energy-efficient buildings, EVs, and consumer electronics is pushing the demand for boric acid.