Boric acid has been utilized in diverse applications. Key of these are in making nutritional supplements, ceramics and fiberglass, flame retardants, pest control application, and as wood preservative. It has been extensively used in making antibacterial compound, mainly in preventing athlete’s foot. The insecticidal property of the weak acid has spurred the demand for this in formulations for killing cockroaches and ants in households.
The use of boric acid as a precursor to several other compounds has bolstered the sales around the world. It is used in making cattle hides, calfskins, and sheepskins.
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New Application Areas Opening Up
Strides being made by lubrication industry and ceramics manufacturing are spurring the production and sales in the boric acid market. Boric acid has been increasingly utilized in lubricating ceramic surfaces. Over the years, the boric acid market has seen a new revenue stream in its demand in the agriculture industry. It is used in preserving rice and wheat, and also in meeting the boron deficiencies in plants.
Over the years, the chemistry of boron has been extensively studied. More importantly, new applications have emerged on the back of growing body of in-vivo studies on assessing its genotoxicity. Other key end-use industries are pharmaceutical, building and construction, and nuclear.
Vendors Focus on Meet High-End Performance Characteristics to End-Use Industries
The boric acid market is expected to be increasingly fragmented with the presence of several players. Those players are interlocked in intense competition over the evolution of the boric acid market. Several chemical manufacturers are expanding their product portfolio and eyeing new application avenues in the developed regions to consolidate their positions or shares in the global market. Some key players have also leveraged the synergies of partnerships, deals, and collaborations in order to consolidate their shares in the boric acid market. Partnerships also help them commit substantial research findings to develop boric acid formulations that can meet high-end performance characteristics.
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