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The boric acid market size is forecast to increase by USD 262.8 million at a CAGR of 5.9% between 2023 and 2028. The market is witnessing significant growth due to the versatile properties of this chemical compound, which make it a sought-after ingredient in various industries. Hydrogen borate, a derivative of boric acid, is gaining popularity as a soil amendment, particularly in agriculture applications. In the pharmaceuticals sector, boric acid is used as a preservative and an antiseptic. The renewable energy sector is also driving market growth, as boric acid is a crucial component in nuclear reactors as a neutron moderator and coolant. Additionally, boric acid finds extensive applications in ceramics and textiles industries, further fueling market expansion. However, stringent regulations and policies regarding the handling and disposal of boric acid are posing challenges to market growth. Despite these challenges, the market is expected to continue its upward trajectory, driven by the increasing demand from developing countries and the expanding applications in various industries.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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