The Europe Boric Acid Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 100.1 kilo tonnes, showcasing a growth of 4.3% (2019-2022).
Boric acid is frequently used as a flame retardant in textiles, plastics, and polymers. Due to its capacity to impede the spread of flames, it is an important component in producing fire-resistant materials. Boric acid is an effective corrosion inhibitor in metalworking and industrial fluids. Its inclusion helps protect metal surfaces from degradation, extending the lifespan of machinery and equipment. Boric acid is a vital micronutrient for plants, and its inclusion in fertilizers helps address boron deficiencies in the soil. This enhances plant growth, improves crop quality, and increases overall yields. In addition to acting as a micronutrient, boric acid is used to amend soil conditions, particularly in areas with boron-deficient soils. It helps create an optimal environment for plant growth.
Boric acid exhibits antiseptic and antifungal properties, making it a valuable pharmaceutical ingredient. It is used to formulate creams, ointments, and eyewashes for various skin and eye conditions. Ongoing research explores the potential of boric acid in cancer treatment. Preliminary studies suggest its ability to inhibit the growth of cancer cells, opening avenues for innovative cancer therapies. Due to its mild antiseptic properties, boric acid is incorporated into skincare products such as creams and lotions. It contributes to formulating products that promote skin health and address certain skin conditions. Boric acid may control dandruff and address scalp-related issues in shampoos and haircare formulations. It is a suitable constituent for maintaining a healthy scalp due to its antimicrobial properties.
According to the UK Government, with its highly linked supply chains and substantial demand for UK-built cars throughout the region, the European region has benefited the U.K. automotive sector with its varied products, encompassing volume, premium, and niche vehicles. Thus, all these factors will uplift the regional market’s expansion in the coming years.
The Germany market dominated the Europe Boric Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $74.9 Million by 2030. The UK market is exhibiting a CAGR of 4.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.9% during (2023 - 2030).
Free Valuable Insights: The Global Boric Acid Market will Hit USD 1.5 Billion by 2030, at a CAGR of 5.3%
Based on Grade, the market is segmented into Industrial, Pharmaceutical, and Others. Based on End-use, the market is segmented into Construction, Agriculture, Automotive, Electronics, Pharmaceutical & Healthcare, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Grade (Volume, Killo Tonnes, USD Billion, 2019-2030)
By End Use (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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