Global Borax Market: Overview

Borax is the common name for the naturally occurring mineral sodium tetraborate decahydrate (Na2B407-10H2O). It's found all over the world, including Chile, California, Bolivia, Tibet, Turkey, and Romania. It is a highly important boron compound. The International Union of Pure and Applied Chemistry (IUPAC) name for borax is sodium tetraborate decahydrate. Currently, the southern U.S. accounts for majority of borates in the world.

Rise in usage of borax in glass and textile fiberglass is the major driver of the borax market. Borax is employed in glass and the textile fiberglass due to its heat resistant, chemical resistant, and scratch and shock resistant properties. Borax also provides strength and durability to a wide range of products from cell phones to solar panels. Presence of large number of substitutes such as boric acid and washing soda is the key factor hampering the global borax market.

Global Borax Market: Key Segments

Based on application, the global borax market can be segmented into adhesives & sealants, glass & textile fiberglass, agriculture, batteries & capacitors, detergents, lubricants, insulation & polymers, oil & gas, nuclear energy, and others. Glass & textile fiberglass is the dominant segment of the global borax market. Borax has the ability to affect alkalinity and its chemical cross-linking capabilities make them an excellent component in the manufacture of casein- and dextrin-based adhesives. Borax plays a key role in protecting soil health, supporting sustainable farming, and increasing nutrition and yield of crops. Borates are components in the electrolyte of lithium ion batteries. Borax has a variety of uses, but it is most effective for cleaning homes or freshening up laundry. It can help control hard water. This, in turn, can help with the clothes cleaning process. Borax also actively works to improve detergent’s effectiveness by enhancing its stain-fighting ability. It helps in enhancing stain removal and bleaching capabilities, stabilizing enzymes, buffering alkalinity, softening water, and boosting surfactant performance.

Based on geography, the global borax market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific accounts for leading share of the global borax market, due to the high demand for borax in agricultural purposes. Borax is an essential micronutrient for growth and development of healthy plants. It also plays a vital role in agriculture. Borax is essential in plant production. In small concentration, borax are used as micronutrients in fertilizers in agriculture. China has become one of the largest consumers of borax due to the strong presence of end-use industries in the region. India is estimated to be a promising country for borax during the forecast period, owing to the presence of strong chemical industry. North America is a rapidly expanding region of the global borax market. New product launches, joint ventures, and expansions are key growth strategies adopted by major players operating in the borax market in the region. Manufacturing companies and end-product manufacturers in North America are investing significantly in advancements and modifications in technology to meet the rising demand for borax in end-user industries in the region. North America is followed by Europe. High demand for refined borax products reflects increased consumption in agriculture and industrial applications.

Global Borax Market: Key Players

Key players operating in the global borax market are Rio Tinto, Eti Maden, JC & AT Searle Pty Ltd., Inkabor, Alfa Aesar, and Indo Borax & Chemicals Limited.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Borax Market

Pre Book