Potassium Fluoroborate Market Size

Potassium Fluoroborate Market size was over USD 321.36 million in 2024 and is projected to reach USD 644.58 million by 2037, growing at around 5.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of potassium fluoroborate is assessed at USD 350.26 million.

The need for potassium fluoborate is driven by the need for more advanced machinery, as well as the need for improved lubricants and metalworking fluids that can withstand the high temperatures and pressures of modern machinery. Furthermore, there has also been an increase in global demand for goods, which has resulted in the need for more metals to be produced, such as steel and iron, which in turn creates a demand for potassium fluoborate. For instance, a total of 132 metric tons of crude steel and 121 metric tons of finished steel were produced in India in FY22. There were 70 MT of crude steel and 69 MT of finished steel produced during April-October 2022. Potassium fluoborate is used in metal production as it helps to increase the quality and strength of these metals. It is also used in the manufacturing of other goods, such as aerospace components, that require metal with a high level of strength and durability.

In addition to these, factors that are believed to fuel the market growth of potassium fluoborate include the increasing demand from various industries such as automotive, construction, and electrical & electronics and the growing demand for potassium fluoborate in flame retardant materials owing to its superior properties such as low toxicity, high thermal stability, and high compatibility with other materials. These factors are expected to drive the market growth of potassium fluoborate, in turn, over the forecast period. Additionally, the increasing demand for ceramics in various industries is expected to further contribute to the growth of the potassium fluoborate market. Globally, the ceramics industry produces around USD 32 billion in value each year, accounting for about 27% of global output. The use of potassium fluoborate in ceramics helps to reduce manufacturing costs and makes the process more efficient.