Colemanite Market Report 2026

The colemanite market size has grown steadily in recent years. It will grow from $1.71 billion in 2025 to $1.78 billion in 2026 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to expansion of steel manufacturing activities, increasing use of boron compounds in glass fiber production, growth of plastics additives consumption, availability of natural borate reserves, steady industrial demand for boron minerals.

The colemanite market size is expected to see strong growth in the next few years. It will grow to $2.22 billion in 2030 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising demand from electric vehicle glass components, increasing use of boron in renewable energy applications, expansion of advanced material manufacturing, growing investments in efficient boron extraction technologies, rising focus on sustainable mineral processing. Major trends in the forecast period include increasing demand for boron-based industrial minerals, rising use of colemanite in advanced glass and ceramics, growing focus on high-purity boron extraction, expansion of process optimization in borate mining, enhanced emphasis on resource efficiency.

The increasing need for steel is anticipated to drive the expansion of the colemanite market in the future. Steel, a metal alloy primarily composed of iron, carbon, and trace elements, is renowned for its strength, resilience, and versatility, making it a highly sought-after material. The growing demand for steel has a direct impact on the colemanite market, as colemanite serves as a critical source of boron. Boron, an essential element used as an alloying agent in steel production, significantly enhances steel's strength and performance across various industries. For example, as per the World Steel Association in April 2023, steel demand is projected to rebound by 2.3%, reaching a total of 1.82 billion metric tons (Mt) in 2023 and 2024. Additionally, steel demand is expected to rise by 1.7%, reaching a capacity of 1.85 billion metric tons (Mt) in 2024. Hence, the escalating demand for steel is a key driver of the colemanite market's growth.

The growing production of minerals and metals is anticipated to drive the expansion of the colemanite market in the coming years. Minerals and metals are natural substances with unique chemical and physical properties, specific compositions, and atomic structures. Colemanite, a hydrated calcium borate, plays a crucial role in various industrial applications, particularly in mineral and metal production. It serves as a key source of boron, essential for producing boron compounds used in glass and ceramics, detergents, alloys, metals, and agrochemicals. For example, in July 2023, the International Energy Agency projected that global investments in critical mineral mining would need to reach between $360 billion and $450 billion from 2022 to 2030. Consequently, the rise in mineral and metal production is fueling growth in the colemanite market.

The increase in construction activities is expected to drive growth in the colemanite market. Colemanite is a key component in glass production, which is widely used in building construction for windows, facades, and decorative elements. As construction projects grow, so does the demand for glass products, leading to a rise in colemanite consumption. For example, in July 2023, the Australian Bureau of Statistics reported that the number of dwellings under construction rose by 1.3% in the March 2023 quarter, reaching a record 240,813 units, surpassing the previous record of 240,065 units set in the March 2022 quarter. Thus, the uptick in construction activity is boosting the demand for colemanite.

Major companies operating in the colemanite market are BASF SE, Kemira Oyj, Omya International AG, Active Minerals International LLC, Borochemie International, Rio Tinto plc, Liaoning Shougang Boron Iron Co. Ltd., Searles Valley Minerals Inc., U.S. Borax Inc., Mining Associates Pvt. Ltd., Eti Soda AS, Borax Argentina S.A., American Borate Company, Raj Borax Limited, Minera Santa Rita S.R.L., Gujarat Boron Derivatives Pvt. Ltd., Quiborax S.A., Eti Bakir Co., Eti Maden İşletmeleri Genel Müdürlüğü, Palmers Chemical Inc., Dhairya International, Sun Borax Industries.

North America was the largest region in the colemanite market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the colemanite market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the colemanite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The colemanite market consists of sales of boric acid, borax, boron fertilizers, fiberglass, enamels and glazes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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