The global boric acid market size accounted for USD 857 million in 2024 and is expected to exceed around USD 1,464 million by 2034, growing at a CAGR of 5.5% from 2024 to 2034.
The market for boric acid is expanding at a significant rate, driven by its wide applications in the pharmaceutical and personal care industries. In the pharmaceutical industry, boric acid is used in the formulation of ointments to treat minor cuts and burns due to its antifungal and antiseptic properties. It is also used as a preservative in cosmetic and personal care products due to its antibacterial properties, further preventing products from spoilage. The demand for boric acid is increasing with the rising demand for pharmaceutical and personal care products.
The rising emphasis on organic and sustainable farming practices is expected to boost the boric acid market in the coming years. Boric acid is used as a pest control agent and micronutrient supplement for crops. It promotes the growth of the plant, resulting in improved crop yields. The rising area of applications further contributes to market expansion. Boric acid is used in the production of tiles and ceramics as a secondary binder, providing refractory mixture sufficient strength to retain its shape. It is also used in glass manufacturing as it improves the chemical composition of glass.
Published by Saurabh Bidwai
