Europe Boron Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe boron market is projected to grow significantly, reaching approximately USD 1,406.94 million by 2031, up from USD 1,053.56 million in 2023, reflecting a compound annual growth rate (CAGR) of 3.7% during this period.

Executive Summary and Market Analysis

The glass industry stands as one of the largest manufacturing sectors in Europe, with the region being the leading global producer, accounting for about one-third of total world production, as reported by the European Commission. Europe encompasses a mix of developed and developing economies, including Germany, France, Italy, the UK, Spain, and Russia. Major glass manufacturers such as Saint-Gobain, Schott, and AGC Inc. are actively expanding and innovating their product lines to cater to the increasing demand from various end-use industries. For example, AGC Inc. invested approximately USD 10.57 million in February 2022 to enhance its laminating line at the Osterweddingen Plant in Germany, aiming to meet the growing demand for high-performance glazing that offers safety, security, and acoustic comfort.

The demand for energy-efficient solutions and the rise in building renovations have spurred the need for glass, thereby enhancing the prospects for the boron market. Boron contributes to the production of glass with superior chemical durability and a low coefficient of thermal expansion. Additionally, investments in solar power infrastructure are driving the demand for solar glass. Notably, in 2021, North Macedonia's government, in collaboration with Elektrani na Severna Makedija (ESM), constructed a solar power plant with a capacity of 300–350 MW, with plans to expand to 400 MW by 2024. Countries like France, Germany, and Luxembourg have implemented strict regulations promoting photovoltaic (PV) building incentives, further accelerating the adoption of solar glass.

Architects in Europe are increasingly incorporating solar glass into their designs to enhance building value and comply with new regulations. Borosilicate glass, a key component in solar water heating systems, is essential for efficient solar collectors known as evacuated tube collectors (ETC). Furthermore, Europe is a hub for pharmaceutical manufacturing, with Germany, France, Switzerland, and Italy being the primary producers. In this sector, boron is utilized in eye care products due to its moisture-retaining properties and pH control capabilities.

Market Segmentation

The Europe boron market is segmented by derivatives and end-use industries. The derivatives include borax, boric acid, boron nitride, boron carbide, boron oxide, and others, with boron nitride holding the largest market share in 2023. In terms of end-use industries, the market is divided into agrochemicals, glass, ceramics, detergents, pharmaceuticals, electrical and electronics, and others, with the glass segment dominating in 2023.

Market Outlook

Boron fibers and boron carbide are lightweight, high-strength materials increasingly used in aerospace applications. The demand for lightweight materials in the aerospace and defense sectors is propelling the boron market. Boron compounds like boron nitride are valued for their ability to withstand high temperatures, making them suitable for applications in thermal protection systems and heat shields. Additionally, boron serves as a dopant in semiconductors, enhancing the performance of advanced electronics in aerospace and defense.

The European Union's Horizon Europe program, launched in 2021 with a budget of around USD 103 billion, emphasizes research and innovation in aerospace, reflecting increased government investments in this sector due to rising security concerns. France hosts several major aircraft manufacturers, including Airbus SE and Dassault Aviation, which contribute to the robust aerospace industry.

Country Insights

The Europe boron market is comprised of key countries such as Germany, France, Italy, the UK, Russia, and others, with Germany leading the market in 2023. The demand for boron in Germany is primarily driven by the increasing use of fiberglass and solar glass. Insulation-grade fiberglass typically contains 5–12% boron, which helps reduce viscosity during fiberization. Strategic partnerships, such as the one between Niedax Group and GIGA FIBER GmbH, are enhancing the fiberglass network in Germany. Furthermore, Germany's Buildings Energy Act (GEG) promotes renewable energy and energy efficiency, further boosting the solar glass market.

Company Profiles

Key players in the boron market include Hoganas AB, 3M Co, Ube Corporation, Arkema SA, JFE Mineral & Alloy Co Ltd, and others. These companies are pursuing strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to consumers.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe boron market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in Europe boron market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the boron market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution. Show more