Global Borax Pentahydrate Market Forecast, Trend Analysis And Competition Tracking - Market insights 2015 to 2031

Borax Pentahydrate Market Introduction

Demand for Borax Pentahydrate from 2015 to 2020 Vs. Future Market Projections for 2021-2031

From 2015 to 2020, sales of borax pentahydrate have increased at a stable rate, expanding over 3.6% CAGR.

Borax, also known as sodium borate (Na2B4O7.10H2) and boric acid (H3BO3), is a colorless salt-like substance with a physical appearance of a white powder. Borax and boric acid have many legal uses and are widely used in the manufacture of detergents, water softeners and weak preservatives. Borax pentahydrate is widely used in glass and ceramic industries owing to its inherent properties. Their water content distinguishes borax in the following compounds:

• Anhydrous borax or sodium tetraborate (Na2B4O7)
• Borax pentahydrate (Na2B4O7·5H2O)
• Borax decahydrate (Na2B4O7·10H2O)

Global Borax Pentahydrate Market Revenue Outlook:

The global borax pentahydrate market was valued at over US$ 654.9 Mn in 2020 and is projected to register а САGR approximately to 3.6% by 2031.

Increasing demand for powerful laundry detergents amidst the COVID-19 pandemic is expected to impact the target market growth positively. Borax pentahydrate is mainly consumed for glasses and fiberglass applications, but some are also used in industries, including agriculture, chemical, engineering, infrastructure, automotive, and electronics. In addition, borax pentahydrate is an excellent choice for cleaning metal surfaces and various other metal operations owing to its mild or moderate abrasive properties, anti-corrosive, and water-softening capabilities.

Regulatory Framework for Boric Acid and Sodium Borate

COVID-19 Impact Analysis

The COVID-19 pandemic has resulted in the slowdown of critical trade activities across several countries. The onset of this given pandemic has also impacted the respective supply chains of these companies. As major economies imposed precautionary manufacturing lockdowns, a considerable gap between market supply and demand has been created, making it difficult for manufacturers and distributors to manage their supply operations effectively. This is a primary factor that is expected to negatively influence future revenue growth prospects for the global borax pentahydrate market. A potentially looming economic recession is also likely to affect future investments in this sector adversely.

Import-Export Data of Disodium tetraborate "Refined Borax" under HS code (284019)

Factors limiting the growth of the borax pentahydrate market

The availability of alternative products such as vinegar, lemon, baking soda, to borax for cleaning purposes with similar properties and end-use applications is expected to limit the growth of this target market.  Moreover, several countries such as the European Union (EU), Canada, and Indonesia have considered borax and boric acid exposure a potential health risk that may cause respiratory and skin irritation if inhaled in large quantities.

Products containing borax as an essential ingredient

Opportunities for the revenue growth of key players operating in this target industry

Major companies are now focusing on adopting multiple strategic policies to expand their business on a global scale. Policies such as strategic mergers & acquisitions, joint ventures and partnerships with other companies to ducts, and expanding existing product portfolios, with the aim to maintain This is also another factor that is expected further to improve the financial development of this particular market period.

• In April 2019, Rio Tinto entered into a joint venture with Alcoa, one of the largest aluminum producers, and named the joint venture “ELYSIS”. This new research and development facility is in Saguenay–Lac-Saint-Jean region in Québec.

Market Dynamics:

The global borax pentahydrate market is segmented into application and region. The application segment is further categorized into glasses and fiberglass, glazes and enamels, detergents and bleach, flame retardancy, and other applications. The glasses and fiberglass segment is expected to create a major share and hold the leading position in this target market. The glasses and fiberglass segment is estimated to account for a 53.1% revenue share in 2020 and is expected to register a CAGR of 3.8% during the forecast period.

The Asia-Pacific region is anticipated to hold a significant share of the global borax pentahydrate market. Increasing demand for end-use products containing borax coupled with increased import-export activities from emerging economies such as Chine, etc., is expected to boost the revenue growth for this target market in the region. Moreover, prominent players in the region are also expected to support the market revenue growth. The first five-year cumulative revenue (2021–2025) for the Asia-Pacific market is estimated to be US$ 1,826.3 Mn, as compared to a moderately higher cumulative revenue of US$ XX Mn for the latter five years of the forecast period (2026–2030).

Borates Consumption by Region, 2020

Competitive Landscape:

The borax pentahydrate market landscape appears highly consolidated, with a significant chunk of it being dominated by players in the European region.

• Rio Tinto Plc (U.S. Borax Incorporated)
• Etimaden
• Searles Valley Minerals Inc.
• Orocobre Limited
• Shanghai Yixin Chemical Co., Ltd
• Rose Mill Co.
• Dhairya International
• Fluobor India Pvt. Ltd.
• Shree Sai Shraddha Industries
• Maas Graphite & Carbon Products
• Other Key Industry Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Key Segments Covered

Borax Pentahydrate Market, By Application

• Glasses and Fiberglass
• Glazes and Enamels
• Detergents and Bleach
• Flame Retardancy
• Other Applications