Sodium Tetraborate Market (Borax) Sodium Tetraborate is also...

Sodium Tetraborate Market (Borax)

• Sodium Tetraborate is also known as Borax, Sodium Borate, or Disodium Tetraborate.
• Sodium Tetraborate is naturally occurred in evaporate deposits that are produced by the repeated evaporation of seasonal lakes.
• Sodium Tetraborate can be produced synthetically from other boron compounds.
• The naturally occurring sodium Tetraborate is refined by the process of recrystallization.
• Sodium Tetraborate is a mineral, an important boron compound, and a salt of boric acid.
• Sodium Tetraborate is widely used and is a component in cosmetics, enamel glazes, and detergents.
• Sodium Tetraborate is also used to make buffer solutions in biochemistry, as a fire retardant, and as an anti-fungal compound.
• Sodium Tetraborate is necessary in small amounts for the plant growth, which is one of the 16 essential nutrients for plants. However, in a larger quantity it is harmful for the plants.
• Another major driver, surging the demand for sodium Tetraborate is the use as a non-toxic & and non-specific herbicides.
• Sodium Tetraborate is majorly used in insulation of fiberglass and textile fiberglass.

Sodium Tetraborate Market at a Glance

https://www.futuremarketinsights.com/reports/sodium-tetraborate-market

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Borax - Global Market Trajectory & Analytics

- Published: April 2021 by: Global Industry Analysts, Inc
https://www.researchandmarkets.com/reports/5302316/borax-global-market-trajectory-and-analytics

Amid the COVID-19 crisis, the global market for Borax estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.8 Billion by 2027, growing at a CAGR of 5.6% over the analysis period 2020-2027.

Fiberglass, one of the segments analyzed in the report, is projected to record a 6.1% CAGR and reach US$676.2 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Borosilicate Glass segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $330.9 Million, While China is Forecast to Grow at 8.7% CAGR

The Borax market in the U.S. is estimated at US$330.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$378 Million by the year 2027 trailing a CAGR of 8.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Ceramics Segment to Record 6.4% CAGR

In the global Ceramics segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$110.8 Million in the year 2020 will reach a projected size of US$165.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$240.8 Million by the year 2027, while Latin America will expand at a 7.7% CAGR through the analysis period.