Potassium Fluoroborate Market Segmentation:
Application (Soldering Agent, Abrasive, Metal Processing, Fluxing Agent)
The global potassium fluoborate market is segmented and analyzed for demand and supply by application into soldering agent, abrasive, metal processing, fluxing agent and others. Out of these, the abrasive segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the increasing demand for abrasives in automotive and construction industries. Abrasives are used for processing and finishing of metal parts. The ever-increasing demand for precision in car and other vehicle manufacturing necessitates the use of abrasive materials for polishing and grinding. For instance, a total of 78 million motor vehicles were produced worldwide in 2021, an increase of 1.2% from 2020. Over 22,930,200 vehicles were produced by the Indian automobile industry between April 2021 and March 2022, an increase from 22,600,600 units in April 2020 and March 2021. Additionally, the development of advanced abrasives with improved properties such as high hardness and strength is expected to drive the growth of the segment in the future.
Type (Technical Grade, Reagent Grade)
The global potassium fluoborate market is segmented and analyzed for demand and supply by type into technical grade, reagent grade. Out of these, the reagent grade segment is estimated to gain significant market share in the year 2035. The growth of the segment can be attributed to the increasing use of reagent grade in industries such as pharmaceuticals, agriculture, and food & beverages. The reagent grade is used to manufacture high-end products and to improve the quality of existing products. Additionally, reagent grade potassium fluoborate is used in the production of synthetic rubber and in industrial waste water treatment. Moreover, Glass' growing popularity in construction and in automotive applications, as well as the increasing production of glass, is expected to contribute to the segment growth. A total of 1200 companies produce 205 million tonnes of glass annually across 2155 sites in the glass industry. By 2023, demand for flat fabricated glass is expected to reach nearly USD 135 billion. Reagent grade potassium fluoborate is used in the production of glass because it helps to reduce the melting point of the glass mixture, making it easier and more efficient to produce glass. It also helps to improve the clarity of the glass.
Our in-depth analysis of the global market includes the following segments:
|
By Application |
|
|
By Type |
|
