Boron Global Market Report 2022| MENAFN.COM

Sunday, 02 October 2022 09:47 GMT

Boron Global Market Report 2022


(MENAFN- GlobeNewsWire - Nasdaq)

New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Boron Global Market Report 2022' -
65 billion in 2021 to $1.7 billion in 2022 at a compound annual growth rate (CAGR) of 3.3%. The boron mining market is expected to grow to $1.74 billion in 2026 at a compound annual growth rate (CAGR) of 0.6%.
The boron mining market consists of sales of boron by entities (organizations, sole traders, and partnerships) that mine boron.
The main types of boron mining are aerospace composite materials, boronated glasses, and other types- of boron.Boronated glasses refer to silicate glass that is composed of at least five percent oxide of boron and is used mainly in heat-resistant glassware The various applications involved glass, ceramics, agriculture, and detergents.
The mining type includes underground mining, and surface mining.
The Middle East was the largest region in the boron mining market. The regions covered in boron mining report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The growth in the boron mining market is due to increasing demand for mining, improving technologies, and emerging markets. For instance, in 2020, according to USGS, a US-based Government agency data, Geological Survey stated that U.S. mines produced approximately 86.3 billion minerals 2019.
Modular components designed with 3D printing are being widely used in the mining industry. 3D printing technology enables companies in remote locations to manufacture critical parts onsite as per the requirement, thereby reducing delays due to unplanned maintenance and also eliminating the need for holding inventories, which is the major trend in the Boron mining market.
The countries covered in the boron mining market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, the USA
Read the full report:
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