US Global Boric Acid Market Research Report Information By End Use (Tiles, Ceramics, Fiberglass, Flame Retardants, Agriculture, Wood Preservation, Pharmaceuticals, Cosmetics), By Application (Industrial and Household), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

The demand for boric acid in the United States is witnessing a notable upswing, driven by diverse applications across various industries. As of 2020, the U.S. boric acid market was valued at USD 873.9 million, and it is projected to experience robust growth, reaching USD 1530.2 million by the end of 2030, with a Compound Annual Growth Rate (CAGR) of 6.1%. This growth is attributed to several factors influencing the market dynamics.
One of the primary drivers of the boric acid market in the United States is the escalating demand for insulation materials. Boric acid plays a crucial role in providing insulation, especially in the residential and commercial sectors. As the construction industry witnesses steady growth and there is an increased focus on energy-efficient building materials, the demand for boric acid in insulation applications is on the rise. This is further fueled by macroeconomic factors such as an increase in per capita income, contributing to a surge in building and construction activities.
The market growth is also significantly supported by the expanding demand for boric acid in fiberglass insulation. Fiberglass is a widely used material in the construction industry for insulation purposes, and boric acid finds extensive usage in enhancing the properties of fiberglass. The trend of using boric acid in fiberglass insulation is anticipated to persist in the coming years, further boosting the demand in the U.S. market.
Additionally, boric acid is witnessing increased demand in the oil and gas industry, particularly for its applications as viscosity and pH modifiers. As the oil and gas sector continues to evolve, the need for boron and borate products, including boric acid, is likely to grow, creating new opportunities in the U.S. market.
However, there are certain challenges impacting the market dynamics. The restrictions on using boric acid in personal care items, driven by European regulations classifying it as a carcinogenic compound, pose a hindrance to market growth. Compliance with these regulations becomes crucial for market players operating in the U.S., and they need to navigate these challenges effectively.
On the positive side, the U.S. boric acid market is expected to benefit from the increasing demand for energy-efficient compounds. The growing emphasis on sustainability and environmental considerations is driving the adoption of materials like borosilicate glass in applications such as cookware and laboratory equipment, contributing to the demand for boric acid.
The demand for boric acid in the U.S. is poised for substantial growth, fueled by its diverse applications in insulation, fiberglass, and the oil and gas industry. While challenges exist, the market is expected to capitalize on opportunities arising from the shift towards energy-efficient materials and sustainable solutions, ensuring a promising trajectory in the years to come.