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The boron market has witnessed exponential growth in recent years, surging from $6.57 billion in 2023 to $7.99 billion in 2024 at a remarkable compound annual growth rate (CAGR) of 21.7%. This significant historic period expansion can be attributed to the increasing demand in agricultural applications, the glass and ceramics industry, consumer products, as well as electronics and semiconductors, along with the growing influence in the medical and healthcare sector. Looking ahead, the market is poised for rapid growth, reaching $12.68 billion in 2028 with a CAGR of 12.2%. The forecasted growth is driven by the rising demand in agriculture, ongoing innovations in glass and ceramics, increased manufacturing of consumer products, advancements in electronics, and the expanding applications within the healthcare sector. Notable trends in the forecast period include a focus on boron neutron capture therapy (BNCT), boron’s role in the aerospace industry, the utilization of boron-based flame retardants, its application in nuclear power, and a commitment to sustainable mining practices.

The increasing expansion of agriculture sector is expected to propel the growth of boron market going forward. The agriculture sector refers to the portion of the economy that is involved in the cultivation of land, raising crops, and rearing animals for various purposes. Boron is utilized in agriculture as a crucial micronutrient, supporting processes such as cell development, pollination, and fruit formation in plants. It is commonly administered through boron-containing fertilizers to address soil deficiencies, ensuring optimal crop growth, yield, and quality. For instance, in June 2022, according to Organization for Economic Co-operation and Development, a France-based intergovernmental organization, agricultural productivity would need to increase by 28% in the next decade to achieve the zero-hunger target. Further, global crop production is estimated to increase by 87% by 2030. Therefore, the increasing expansion of agriculture sector is driving the growth of boron market. The boron market size was $1.5 billion in 2023, and it is projected to reach $2.8 billion by 2028.

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Which Market Players Are Driving Growth In The Boron Market?

Major companies operating in the boron market report are Rio Tinto Group, 3M Company, Borusan Holding A.Ş., Allkem Limited, Searles Valley Minerals Inc., Ceradyne Inc., Borax Inc., S B Boron Corporation, Boron Molecular PTY. Limited, Gujarat Boron Derivatives Pvt. Ltd., China National Bluestar Group Co. Ltd., Minera Santa Rita SRL (MSR), SB Boron Corporation, Qinghai Zhongtian Boron Lithium Mining Co. Ltd., Quiborax S.A., Boron Specialities LLC, Eti Maden İşletmeleri Genel Müdürlüğü, Qinghai Huaxia Boron Co. Ltd., Inner Mongolia Mengyuan Boron Co. Ltd., ABC Corporation, Sichuan Tianli Group Co. Ltd., Henan Sanxing Boron Co. Ltd., LMN Minerals, Jiangxi Lianyi New Materials Co. Ltd., PQR Chemicals, Xinjiang Yutai Boron Compounds Co. Ltd., Fujian Minnan Borate Co. Ltd., Shanxi Borui New Materials Co. Ltd., Hebei Xin’an Boron New Materials Co. Ltd., Hunan Bolin New Materials Co. Ltd.

How Is The Global Boron Market Segmented?
The boron market covered in this report is segmented –

1) By Type: Aerospace Composite Materials, Boronated Glasses, and Other Types- Boron
2) By Mining Type: Underground Mining, Surface Mining

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The Boron Global Market Report 2024 provides an overview of the boronmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The boron market forecast analyzes boron market size, boron market share, leading competitor and their market positions.

The Table Of Content For The Boron Market Include

1. Boron Market Executive Summary
2. Boron Market Segments
3. Boron Market Size And Template Market Growth Rate
4.  Key Boron Market Trends
5. Major Boron Market Drivers
……
25. Key Mergers And Acquisitions In The Boron Market
26. Top Boron Companies
27. Boron Market Opportunities And Strategies
28. Boron Market, Conclusions And Recommendations
29. Appendix

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