The North America Boric Acid Market would witness market growth of 4.6% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 202.7 kilo tonnes, showcasing a growth of 3.9% (2019-2022).
Boric acid is widely employed as a natural and effective insecticide. It controls pests such as ants, cockroaches, termites, and silverfish. Boric acid disrupts the digestive system of insects, leading to their eventual demise. In nuclear reactors ' control systems, boric acid is used as a neutron absorber. By adjusting the concentration of boric acid in the reactor coolant, operators can control the rate of nuclear reactions and maintain reactor stability. Boric acid is used to preserve wood from decay and insect infestation. Wood treated with boric acid exhibits enhanced resistance to fungal growth and wood-boring insects.
Boric acid finds application in producing photographic chemicals, particularly in developing certain photographic emulsions. Its role in this industry highlights its importance in niche applications. In electronics manufacturing, boric acid is used as a flux in soldering. It helps remove metal oxides from surfaces, facilitating the soldering process and improving the quality of electronic connections. Boric acid is a component in some household cleaning agents due to its disinfectant properties. It is effective against various bacteria and fungi, making it useful for maintaining a hygienic environment.
The rising manufacture of electronic components and devices in Canada may increase demand for boric acid-based fluxes. As the electronics manufacturing sector expands in Canada, particularly in producing displays, sensors, and electronic packaging, there can be an increased demand for boric acid in glass and ceramic manufacturing. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Boric Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $270.1 Million by 2030. The Canada market is experiencing a CAGR of 6.8% during (2023 - 2030). Additionally, The Mexico would exhibit a CAGR of 6% during (2023 - 2030).
Free Valuable Insights: The Boric Acid Market is Predict to reach 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 U.S., Mexico, Canada, and Rest of North America.
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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