Boron Market Size to Reach USD 15.3 Billion by 2033, at 3.9% CAGR, Says Allied Market Research

Rise in demand for energy storage devices and development of high performance materials that withstand extreme and hazardous conditions are expected to drive the growth of the boron market.

PORTLAND, Ore., Feb. 16, 2026 /PRNewswire/ -- Allied Market Research published a report, titled, "Global Boron Market by End-Use Industry (Automotive and Transportation, Building and Construction, Healthcare, Semiconductor, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". The global boron market size was valued at $10.5 billion in 2023 and is projected to reach $15.3 billion by 2033, growing at a CAGR of 3.9% from 2024 to 2033.

Prime determinants of growth

The global boron market is experiencing growth due to rise in demand for higher agricultural productivity, rise in demand for boron in lightweight materials, and surge in demand for boron in the automotive industry for vehicle manufacturing. However, high extraction and processing of boron that impact the environment are expected to hinder the growth of the boron market. Moreover, development of advanced materials from boron is expected to offer lucrative opportunities for the growth of the market.

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Report coverage & details:

Boron is a chemical element possessing properties between metals and non-metals, and rarely occurs freely in nature. It is found in compounds such as borax and boric acid. Boron is essential for plant growth and has various industrial applications, including the production of borosilicate glass, which is heat-resistant and used in laboratory equipment and cookware. It is also utilized in detergents, fertilizers, and as a neutron absorber in nuclear reactors. Boron is a necessary micronutrient for humans, which contributes to bone health and metabolic functions, though excessive intake can be toxic.

Segment Highlights

The boron market is vital to the building and construction industry. A key application is in the production of fiberglass insulation, where boron compounds like boric acid and borax are incorporated into the glass fibers. This enhances both thermal and acoustic insulation, improving energy efficiency and reducing noise pollution in buildings. Additionally, boron increases the fire resistance of fiberglass insulation, promoting safer construction and more resilient building environments.

Regional Outlook

Asia-Pacific to maintain its dominance by 2033

Boron is a critical industrial element driving economic and technological growth across the Asia-Pacific region. Its dominant application is in borosilicate glass production for laboratory glassware, cookware, and high-strength glass in electronics and display technologies. Rapid expansion in electronics, consumer goods, and high-tech manufacturing in countries such as China and Japan has intensified boron demand, positioning the region as a key driver of global boron markets. With increasing adoption in advanced materials and industrial applications, boron's strategic importance in Asia-Pacific continues to grow, thus supporting both innovation and infrastructure development.

Why is Demand Increasing in This Market?

The demand for boron is increasing due to its growing applications across multiple high-growth industries and regions. One of the primary drivers is the expansion of the electronics and technology sector, particularly in Asia-Pacific countries like China, Japan, and South Korea. Boron is essential in producing borosilicate glass for electronic devices, smartphones, and display panels, which are seeing rising consumer and industrial demand. Additionally, boron is a critical component in fiberglass, which is widely used in construction for insulation, roofing, and fire-resistant materials, driven by urbanization and infrastructure development.

Agricultural demand is also rising, as boron is an essential micronutrient for crop growth, particularly in regions focusing on sustainable and high-yield farming practices. In energy and defense sectors, boron's use in advanced ceramics, armor plating, and lightweight composites further boosts consumption. Innovations in renewable energy and battery technology, such as boron-based energy storage materials, are emerging as new growth avenues, reflecting the element's versatility.

Environmental and safety regulations are contributing indirectly to demand as well. Boron-containing materials improve fire resistance, energy efficiency, and durability, aligning with stricter building codes and sustainability initiatives worldwide. Overall, a combination of industrial growth, technological innovation, infrastructure expansion, and regulatory trends is driving the rising global demand for boron, making it a key element in modern economies.

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Recent Developments

Major boron producers are actively expanding capacity, diversifying products, and investing in advanced technologies to capture growing demand across sectors like electronics, aerospace, and sustainable energy.

Eti Maden, the world's largest boron producer, is expanding its Kırka processing facility, to boost boric acid output by 200,000 tons annually and target high-value segments such as electronics and pharmaceuticals with advanced purification systems.

Rio Tinto has modernized its California boron operations, adding automated processing and expanding high-purity product capabilities to support semiconductor and specialty markets. The company is also investing in boron-based battery R&D to tap into future energy storage demand.

Searles Valley Minerals has formed a partnership with an EV battery maker (e.g., Tesla) to develop boron-enhanced additives that improve thermal stability and cycle life.

Mid-sized regional players like Quiborax S.A. are securing financing to build new boric acid production plants, while several firms are launching ultra-pure boron powders and nano-scale materials for aerospace, semiconductor, and advanced ceramics markets.

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Key Players in the Boron Market

• SB Boron Corporation
• Eti Maden
• Rio Tinto
• 3M
• Gujarat Boron Derivatives Pvt. Ltd.
• Quiborax
• Boron Molecular
• DuPont
• Lenntech B.V.
• Arihant Chemical Industries

The report provides a detailed analysis of these key players in the global boron market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.         

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