Boric Acid Market Size

Boric Acid Market size was USD 1.2 billion in 2024 and is estimated to reach USD 2.5 billion by the end of 2037, expanding at a CAGR of 5.8% during the forecast period, i.e., 2025-2037. In 2025, the industry size of boric acid is evaluated at USD 1.3 billion.

The Observatory of Economic Complexity report reveals that the global trade of boric acid totaled USD 694 million, in 2022 and held the 2592^nd position as the most traded product. The exports of boric acid increased by 26% from 2021 to 2022. The U.S., Turkey, Chile, Russia, and Peru are some of the top exporters of boric acid. The U.S. and Turkey exported around USD 202 million and USD 194 million of boric acid, in 2022. Whereas, by holding top positions as importers in the same year, China and Brazil totaled USD 262 million and USD 54.5 million.

The rising use of boric acid in automotive and aerospace component manufacturing is positively fueling the overall boric acid market growth. In automotive, boric acid enhances the manufacturing of high-efficiency engine coolants, preventing the engine from overheating, and also acts as a lubricant additive, which mitigates fiction in vehicle pistons. The boric-sulfuric anodizing process aids in corrosion protection and paint adhesion in aerospace components.

The report by the United States Geological Survey (USGS) reveals that over 200 boron minerals occur naturally, but only 4 of them account for 90% of borate usage in industries globally. The boric acid-based technical ceramic products are widely used in aerospace, electronics, and ballistics. The ceramic industry is anticipated to hold over 15% of the global boron consumption.