Global Anhydrous Borax Market 2018-2022| Increasing Demand from Developing Countries to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Dec 20, 2018-- analysts forecast the global anhydrous borax market to grow at a CAGR of nearly 6% during the forecast period, according to their latest market research report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181220005483/en/
Technavio has released a new market research report on the global anhydrous borax market for the period (Graphic: Business Wire)
The increase in demand from the solar energy sector is one of the major trends being witnessed in the . The rising demand for borosilicate glass, due to the green energy policies and fossil energy costs, is expected to fuel the consumption of anhydrous borax. Solar collector tubes at power stations and solar water heating use collector tubes made of borosilicate glass to gather the reflected radiation to generate electricity. Specialized borosilicate glasses are used in photovoltaic cells that have high impact resistance, compatibility, and strength-to-weight ratio. Growth in the global renewable energy industry is mainly driven by voluntary procurement of solar projects by corporations and utilities.
According to Technavio analysts, one of the key factors contributing to the growth of the global anhydrous borax market is the increase in the demand for anhydrous borax from developing countries:
Global anhydrous borax market: Increase in the demand for anhydrous borax from developing countries
Developing economies such as China, Brazil, the Philippines, and Indonesia display a high demand for anhydrous borax. Factors such as availability of raw materials, land, and low-cost labor, low transportation costs, and comparatively lenient government regulations and policies are enabling several vendors anhydrous borax in shifting their manufacturing bases to these countries.
According to a senior analyst at Technavio for research on specialty chemicals, “In developing countries in APAC and South America, factors such as the ever-rising population, high disposable incomes, and increasing purchasing power are attracting heavy investments in the construction, glass manufacturing, and cosmetics industries. The governments of these countries invest considerably in the housing industry due to urbanization and improved standard of living.”
Global anhydrous borax market: Segmentation analysis
The global anhydrous borax market research report provides market segmentation by application (glass, glazes and enamels, and agriculture) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The glass segment held the largest market share in 2017, accounting for 48% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of over 55%. This region is expected to dominate the market through 2022, with over 1% increase in its market share.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at .
View source version on businesswire.com:https://www.businesswire.com/news/home/20181220005483/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: MANUFACTURING TECHNOLOGY OTHER NATURAL RESOURCES MINING/MINERALS NATURAL RESOURCES OTHER TECHNOLOGY OTHER MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/20/2018 10:03 AM/DISC: 12/20/2018 10:04 AM