Boron Oxide Market to Record Sturdy Growth by 2023
Submitted 3 sec ago by TMR Market research.
Boron Oxide is a white, glassy and brittle solid commonly marketed under the name anhydrous boric acid. Boron oxide is also known as boric oxide, boron trioxide, diboron trioxide and boria. Boron oxide has several applications and used as a raw material or additive in different material production process. Boron oxide is used as a fluxing agent for glass and enamels. Boron oxide is also used as the main chemical from which downstream boron compounds such as boron carbide, boron halides, metallic borates, sodium borohydrides and borate esters are derived. It is used as an additive in the production of glass fibers and borosilicate glass. They also find use in the manufacturing of firebricks and castables, commonly used in refractory and require high temperature, abrasion, corrosion and chemical resistance. It is also used to manufacture specialty ceramics and glasses. Boron oxide also acts as an excellent solvent to metallic oxides at high temperature. This property is utilized to prepare special soldering and welding fluxes, to harden steel, to manufacture alloys of iron, manganese or nickel. It is also used to manufacture rare-earth magnets.
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The global market for boron oxide is multi dimensional and depends upon the demand from several end use industries. The largest application of boron oxide is in the manufacturing of borosilicate glass. Application of boron oxide in the manufacturing of E- class glass fibers is another large-scale application of the chemical. E- class glass fiber accounts for about 90% of the global glass fiber market and is extensively used in building & construction, transportation and industrial applications. Application of boron oxide in specialty ceramics manufacturing process is another major growth driver of the market. Use of boron oxide in manufacturing of bricks for refractory application has also witnessed steady growth in the recent past. Most of the end use industries of boron oxide have exhibited medium to strong growth and is estimated to propel the market in the foreseeable future.
In spite of a large array of applications, the market is slightly restrained by the gradual popularity of boron free glass fibers and flat glass. The rate of substitution is gradual and is a long term threat to the boron oxide market. However, opportunity exists in the surging electronics application. Use of boron oxide as soldering flux is a potentially large application and the growth in electronic goods and white goods provides attractive growth opportunity for the chemical.
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