High Purity Boron Market
High Purity Boron Market Study by 5N and 6N for Silicon Wafers, Industrial, Aerospace, and Military Applications From 2024 to 2034
Analysis of High Purity Boron Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
High Purity Boron Market Outlook (2024 to 2034)
The global high purity boron market is valued at US$ 1.21 billion in 2024 and is forecasted to expand at a CAGR of 8.5% to reach US$ 2.72 billion by the end of the assessment period in 2034.
The market for high purity metallic boron is anticipated to expand gradually over the next several years due to rising demand from several sectors, including nuclear energy, electronics, and aerospace. There is a growing use in the energy, electronics, and aerospace industries, where high-purity boron is employed for its remarkable qualities, such as increased material strength and strong thermal neutron absorption. T
he increasing emphasis on sustainable and high-performance materials coupled with technological improvements has led to a considerable increase in the demand for high-purity boron compounds, particularly those that surpass 99.9% purity.
The market for high purity boron has more opportunities as several industries look for new applications and improved performance materials. Potentially high growth markets in Asia-Pacific, especially those in China and India, are expanding significantly because of the region's fast industrialization and technological breakthroughs. New income streams are also created by the growing use of high-purity boron in electronic products and nuclear reactors.
The market potential is further amplified by the transition to renewable energy sources and developments in battery technology, rendering it a desirable domain for investment and growth in the coming years.
One of the prominent end-use industries for high-purity boron is the semiconductor sector. As a dopant, boron is utilized in the manufacturing of semiconductors, which will see a sharp increase in demand in the coming years. The rising usage of semiconductors in electronic devices, including tablets, laptops, and smartphones, is the main driver of this rise. It is projected that as the market for semiconductors grows, so will the need for high-purity boron. The need for high-purity boron is rising because of several developments occurring in the semiconductor sector.
As an illustration, the industry is shifting toward the usage of more potent and compact semiconductors. Because smaller semiconductors need higher-purity boron to obtain the requisite electrical characteristics, this development is boosting the demand for high-purity boron. Thereby, the increasing need for semiconductors is positively impacting global market dynamics.
| Report Attribute | Detail |
|---|---|
| High Purity Boron Market Size (2024E) | US$ 1.21 Billion |
| Forecasted Market Value (2034F) | US$ 2.72 Billion |
| Global Market Growth Rate (2024 to 2034) | 8.5% CAGR |
| East Asia Market Value (2034F) | US$ 967.32 Million |
| North America Market Share (2034F) | 30.6% |
| Aerospace Segment Value (2034F) | US$ 579.04 Million |
| Japan Market Value (2034F) | US$ 140.58 Million |
| Key Companies Profiled | SB Boron; H.C. Starck GmbH; SkySpring Nanomaterials Inc.; CRS Chemicals; Boading Zhongpuruituo Technology; New Metals and Chemicals Ltd.; Noah Technologies Corporation; YingKou Liaobin Fine Chemicals; Dandong Chemicals Engineering; Institute (DCEI); Tangshan Weihao Magnesium Powder. |
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Why has high-purity boron gained importance in the global market?
Demand from High-tech Energy Applications is Driving the Growth of the Market
High-purity boron is an essential material for many high-tech industries, such as aerospace, defines, and electronics. It is used in the production of semiconductors, superconductors, and other electronic components.
Boron is also used in the production of batteries and energy storage systems. As the demand for renewable energy sources grows, the demand is expected to increase. Moreover, it is used to manufacture semiconductors, such as boron-doped silicon, which is used in computer chips, LEDs, and solar cells.
According to the World Semiconductor Trade Statistics (WSTS) latest forecast, the global semiconductor market is expected to expand significantly. The rising penetration of artificial intelligence (AI), the Internet of Things (IoT), and cloud-based technology has fueled the use of optoelectronics and sensors.
Advanced Nanomaterial Technology to Bring a Swift Uptake in the Market
Nanomaterials have now become an integral part of several industries including construction, packaging, healthcare, electrical and electronics, chemical products, and energy among others. The high melting points, hardness, low density, and electron-deficient nature of boron make it suitable for the development of nanomaterials such as boron nanowires, nanotubes, nanobelts, nanoribbons, and Nano sheets among others. Boron nanomaterials find applications in hydrogen storage, batteries, catalysts, superconductors, and other electronic components.
Further, research in the field of boron nanomaterials is underway to enhance its application potential. For instance, recently a combination of hexagonal boron nitride and graphene has been studied to enhance the capacities of Valleytronics, an emerging field of semiconductor technology. Another study on boron nitride nanotubes (BNNTs) has revealed that BNNT microfibrils remain stable at higher temperatures such as 1000OC. The observation can be further extended in the aircraft industry to use BNNTs as an alternative to carbon nanotubes (CNTs).
Moreover, as per a study published in ACS Nano in 2019 reported that high-purity boron nanoparticles can be used as a contrast agent for biomedical imaging, exhibiting high contrast and good biocompatibility.
Boron Neutron Capture Therapy for the Treatment of Cancer
High-purity boron is used in medical applications, such as boron neutron capture therapy for the treatment of cancer. Moreover, it’s an essential micronutrient for plants, and high-purity boron is used in the production of fertilizers and other agricultural applications. In the aerospace sector, this material is used to manufacture components of aircraft and missiles due to its high strength and lightweight.
Boron as an Atomic Reactor Catalyst
The market is expected to gain high traction in the coming years, owing to its increasing use as raw material for the control rod of the atomic reactor and as a catalyst in the organic synthetic process. The insolubility of this material in water, alcohol, hydrochloric acid, and ether is the key demand-driving determinant. Top players operating in the market are focusing on the development of enriched products for specific applications. Emerging trends of incorporating nano-materials across various industries are likely to expand the application, which in turn favors market growth.
The high-purity amorphous boron powder is utilized in fuel-rich propellants for rockets, ramjets, and igniter formulations due to its strong reactivity and high heat of combustion. This has an advantage over conventional rocket fuels including magnesium and aluminum as a more preferred fuel.
Recent Research and Development
Boron in a lithium-ion battery
Scientists have been exploring this material as a key ingredient for the formation of lithium-ion batteries needed for electric vehicles. A study published in the Journal of Power Sources in 2021 reported that high-purity boron (HPB) can be used as an anode material in lithium-ion batteries, exhibiting excellent electrochemical performance and stability.
Boron as a chemical reaction Catalyst
A study published in the Journal of the American Chemical Society in 2020 reported that high-purity boron powder can serve as an efficient and selective catalyst for the selective hydrogenation of alkynes to alkenes.
The aforementioned areas of research are anticipated to unlock the real potential of boron in the future. This will further highlight boron as a crucial material in the forecast period 2024- 2034.
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Competitive Landscape
As a result of multiple regional and international players, this industry is highly fragmented. Many strategies are adopted by the key players such as acquisitions, collaborations, and partnerships. Additionally, the top businesses use new product creation as a strategic way to enhance their market position among consumers. The material has increased as a result of these tactics.
Companies are optimizing their production processes to reduce costs and improve profitability. This may involve implementing new technologies, improving supply chain management, or reducing waste. Furthermore, companies are applying different marketing approaches to increase their reach and customer base. H.C. Starck GmbH in 2019 underwent new branding efforts to be known as H.C. Starck Solutions. This branding initiative will support them being a solution-based provider and will also strengthen the brand image of the company in the marketplace.
Segmentation of High Purity Boron Market
-
By Product Type :
- 5N
- 6N
- Other Product Types
-
By Application :
- Silicon Warfare
- Industrial
- Aerospace
- Military
- Others
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Application 7. Global Market Analysis and Forecast, By Product Type 7.1. 5N 7.2. 6N 7.3. Other Product Types 8. Global Market Analysis and Forecast, By Application 8.1. Silicon Wafers 8.2. Industrial 8.3. Aerospace 8.4. Military 8.5. Others 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. East Asia 9.6. South Asia & Pacific 9.7. MEA 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. MEA Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Product Type and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. SB Boron 19.2. H.C. Starck GmbH 19.3. SkySpring Nanomaterials Inc. 19.4. CRS Chemicals 19.5. Boading Zhongpuruituo Technology 19.6. New Metals and Chemicals Ltd. 19.7. Noah Technologies Corporation 19.8. YingKou Liaobin Fine Chemicals 19.9. Dandong Chemicals Engineering Institute (DCEI) 19.10. Tangshan Weihao Magnesium Powder 19.11. Other Market Players
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Product Type
Table 3: Global Market US$ Mn Forecast by Application
Table 4: North America Market US$ Mn Forecast by Country
Table 5: North America Market US$ Mn Forecast by Product Type
Table 6: North America Market US$ Mn Forecast by Application
Table 7: Latin America Market US$ Mn Forecast by Country
Table 8: Latin America Market US$ Mn Forecast by Product Type
Table 9: Latin America Market US$ Mn Forecast by Application
Table 10: Western Europe Market US$ Mn Forecast by Country
Table 11: Western Europe Market US$ Mn Forecast by Product Type
Table 12: Western Europe Market US$ Mn Forecast by Application
Table 13: Eastern Europe Market US$ Mn Forecast by Country
Table 14: Eastern Europe Market US$ Mn Forecast by Product Type
Table 15: Eastern Europe Market US$ Mn Forecast by Application
Table 16: East Asia Market US$ Mn Forecast by Country
Table 17: East Asia Market US$ Mn Forecast by Product Type
Table 18: East Asia Market US$ Mn Forecast by Application
Table 19: South Asia & Pacific Market US$ Mn Forecast by Country
Table 20: South Asia & Pacific Market US$ Mn Forecast by Product Type
Table 21: South Asia & Pacific Market US$ Mn Forecast by Application
Table 22: MEA Market US$ Mn Forecast by Country
Table 23: MEA Market US$ Mn Forecast by Product Type
Table 24: MEA Market US$ Mn Forecast by Application
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 17: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 18: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 19: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 20: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 21: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the present market size?
The market at present has a value of USD 1.21 billion in 2024.
What is the anticipated rate of growth for the forecast duration of 2024-34?
This industry is evaluated to grow further with a CAGR of 8.5% through 2034.
What is future market size anticipation?
The market is forecasted to surpass a valuation of USD 2.72 billion by the end of 2034.
Which was the leading region in the Market in 2024?
North America topped the global market accounting for 30.6% of the global market share in 2024.
Which product type segment contributes the maximum share in sales?
5N segment under the product type segment contributes 35.6% of the market share in global sales.
High Purity Boron Market