The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry. The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry.
In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
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The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic.
Boron is an indispensable element, mostly found in soil, water and rocks across the globe. The average soil boron concentration is in the range of 10 to 20 ppm, however most of the areas across the globe is boron deficient. High concentration of boron in soil has found in western part of the U.S. and area in between Mediterranean to Kazakhstan. The average sew water boron concentration is ranges from 0.5 to 9.0 ppm, while fresh water has very low boron concentration. Highly concentrated and economically feasible boron sources are generally found in the in arid areas with a history of volcanism or hydrothermal activities such as Turkey and United States. Open-pit mining method is used to mine large deposits of high grade beds of crude borax at the Kramer deposit in California and the Kirka deposit in Ankara, Turkey.
Boron minerals concentrates and chemicals are commercially produced and consumed worldwide. Borax pentahydrate, Borax (tincal), Colemanite, Ulexite, Boric Acid and Anhydrous borax are the important boron minerals and chemicals which widely used by chemical industry to manufacture variety of products such as detergents and laundry bleaches, glass, adhesives, agrochemicals and fire retardants among others. Boron is an essential element for plants, which help the transfer of sugar from leaves to reproductive system, and enable pollination and seed development.
Boron minerals has found great application in manufacturing variety of glass such as borosilicate glass, insulation fiberglass, textile fiberglass, enamels and glazes. Borosilicate glass has more thermal shock resistance due to the presence of boron trioxide which lowers the expansion coefficient. In fiberglass, boric acid offers desirable quality drawing and improves its mechanical and chemical properties such as strength and durability. Boron is also used to treat wood, in order to protect it against delay by white/brown rots. Boron exhibits excellent metal oxide stabilizing ability and used in welding rods and fluxes. Boric acid, borates and tetraborates are widely used by pharmaceuticals industries to manufacture personal care products such as bath products, oral hygiene products and talc.
Boron Minerals and Boron Chemicals Market: Market Dynamics
Glass and ceramic and chemicals are two industries which accounts for major consumption of boron minerals and its compounds. Recovering construction industry especially after financial downturn in North America and Western Europe is expected to drive demand for boron composite fiberglass. Agriculture is an essential need of a community and agriculture industry is expected to grow linear with growth in population. Growing demand for reinforced materials especially in Asia Pacific will drive the consumption of boron compounds. Value added application of boron compounds in alloy and metal industry is expected to drive overall consumption of boron minerals and its compounds at steady rate. However growing regulations over use of boron in personal care products may restrain the consumption of boron and its compounds.
Boron Minerals and Boron Chemicals Market: Segmentation
On basis of product types, global boron minerals and boron chemicals market can be segmented as follow as;
- Boron Minerals
- Boron Chemicals
- Bulk Volume
- Boric Acid
- Others Borates
- Small Volume
- Elemental Boron
- Boron Halides
- Boron Carbide
- Bulk Volume
On basis of application, global boron minerals and boron chemicals market can be segmented as follow as;
- Glass and Ceramics
- Insulation Fiberglass
- Textile Fiberglass
- Enamels and Glazes
- Detergents and Bleaches
- Alloy and Metals
- Fire Retardants
- Other Chemicals
On basis of geographies, global boron minerals and boron chemicals market can be segmented as follow as;
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa (MEA)
Boron Minerals and Boron Chemicals Market: Regional Outlook
After economic down turn in Europe and North America, construction industry is recovering slowly and it is expected that boron minerals and boron chemicals market will grow with a growth of construction industry in this region. However consumption of boron minerals and boron chemicals in APAC has been significantly increased in last five years and it is expected that it will grow linearly, owing to infrastructure development in India and China. Turkey and U.S. are collectively accounted for the largest production of boron and its compounds and global boron minerals and boron chemicals market is dominated by this geographies. Growing end-use industries such as automobile, electronics, chemicals and construction in APAC will drive the consumption of fiberglass significantly.
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Boron Minerals and Boron Chemicals Market: Key Players
Some of the key players in the global boron minerals and boron chemicals market are as follow as;
- Eti Maden
- Rio Tinto Group
- American Borate Company
- Boron Specialist LLC
- Gremont Chemicals Co. Ltd.
- Searles Valley Minerals Inc.
- Orocobre Limited
- Rose Mill Co.
- The Chemical Company
- Mitsui Chemicals, Inc.
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