Boron Market Report 2026

The boron market size has grown strongly in recent years. It will grow from $3.63 billion in 2025 to $3.88 billion in 2026 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to expansion of boron mining activities, rising demand from glass manufacturing industries, growth in boron-based chemical production, availability of surface mining reserves, increasing industrial applications of boron compounds.

The boron market size is expected to see steady growth in the next few years. It will grow to $4.57 billion in 2030 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to growing adoption of boron in aerospace composites, rising demand for boron-based fire retardants, expansion of specialty glass production, increasing investments in boron refining technologies, growing use of boron in medical applications. Major trends in the forecast period include increasing demand for boron-based advanced materials, growing use of boron in glass and composite manufacturing, expansion of high-purity boron processing, rising focus on lightweight and heat-resistant applications, enhanced integration of boron in specialty chemicals.

The surge in construction activities is expected to drive growth in the boron market in the coming years. Construction activities encompass the various processes, tasks, and operations involved in planning, designing, and building structures or infrastructure. Boron is utilized in construction mainly as a key ingredient in borosilicate glass and fiberglass materials, which offer enhanced thermal and chemical resistance for applications such as windows, insulation, and structural components. For instance, in August 2024, Eurostat, a Luxembourg-based government agency, reported a 1% increase in construction production in the euro area from June 2023 to June 2024. Thus, the growing construction activities are contributing to the expansion of the boron market.

Major companies in the boron market are actively developing new products, such as fertilizer formulations, to gain a competitive advantage. Fertilizer products are essential substances applied to soil or plants to supply the nutrients necessary for plant growth and improved crop yields. For instance, in April 2024, Fauji Fertilizer Company Ltd, a Pakistan-based chemical manufacturing firm, launched Sona Boron DAP. This fertilizer contains 18% nitrogen and 46% phosphorus - key macronutrients for plant growth - and includes 0.1% boron, an essential micronutrient that enhances crop development, particularly during the reproductive and fruit-setting stages. This product addresses the critical issue of boron deficiency in Pakistani soils, where approximately 60% of soils are identified as lacking this micronutrient. The formulation ensures the even distribution of boron in the soil, increasing its availability and effectiveness for crops. Such innovations are expected to significantly boost crop production and yield potential, meeting the micronutrient needs of modern agriculture.

In November 2025, Worldwide Diversified Holdings, Inc., a U.S.-based investment firm, acquired a controlling stake in American Lithium Minerals, Inc. for an undisclosed sum. Through this acquisition, Worldwide Diversified seeks to progress its global mineral and rare earth development strategy by utilizing American Lithium Minerals’ 1,730-acre property in Nevada that contains lithium and boron, which are essential materials for electric vehicle batteries and advanced manufacturing, thereby reinforcing its portfolio of strategic mineral assets. American Lithium Minerals, Inc. is a U.S.-based mineral exploration company focused on developing lithium and boron resources in Nevada.

Major companies operating in the boron market are Rio Tinto Group, Borusan Holding A.Ş., Searles Valley Minerals Inc., Ceradyne Inc., Borax Inc., SB Boron Corporation, Boron Molecular PTY. Limited, Gujarat Boron Derivatives Pvt. Ltd., China National Bluestar Group Co. Ltd., Minera Santa Rita SRL (MSR), Qinghai Zhongtian Boron Lithium Mining Co. Ltd., Quiborax S.A., Boron Specialities LLC, Eti Maden İşletmeleri Genel Müdürlüğü, Qinghai Huaxia Boron Co. Ltd., Inner Mongolia Mengyuan Boron Co. Ltd., Sichuan Tianli Group Co. Ltd., Henan Sanxing Boron Co. Ltd., Jiangxi Lianyi New Materials Co. Ltd., Xinjiang Yutai Boron Compounds Co. Ltd., Fujian Minnan Borate Co. Ltd., Shanxi Borui New Materials Co. Ltd., Hebei Xin'an Boron New Materials Co. Ltd., Hunan Bolin New Materials Co. Ltd.

Middle East was the largest region in the boron market in 2025. The regions covered in the boron market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the boron market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The boron market includes revenues earned by entities by providing mining for boron compounds such as colemanite, ulexite, tincal, and kernite. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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