The global elemental boron market was valued at 56 million U.S. dollars in 2022. This figure is forecast to grow over the next decade – based on a compound annual growth rate (CAGR) of 3.95 percent – to reach a market value of 71 million U.S. dollars in 2030. This would represent an increase of nearly 27 percent when compared to 2022. Boron is used as a rocket fuel igniter and in pyrotechnic flares. It also exists as different compounds, such as boron carbide, which is commonly used in tank armor and bulletproof vests.
Market value of elemental boron worldwide in 2022, with a forecast for 2030
(in million U.S. dollars)
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Zion Market Research. (August 31, 2023). Market value of elemental boron worldwide in 2022, with a forecast for 2030 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1452878/forecast-global-elemental-boron-market-size/
Zion Market Research. "Market value of elemental boron worldwide in 2022, with a forecast for 2030 (in million U.S. dollars)." Chart. August 31, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1452878/forecast-global-elemental-boron-market-size/
Zion Market Research. (2023). Market value of elemental boron worldwide in 2022, with a forecast for 2030 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1452878/forecast-global-elemental-boron-market-size/
Zion Market Research. "Market Value of Elemental Boron Worldwide in 2022, with a Forecast for 2030 (in Million U.S. Dollars)." Statista, Statista Inc., 31 Aug 2023, https://www.statista.com/statistics/1452878/forecast-global-elemental-boron-market-size/
Zion Market Research, Market value of elemental boron worldwide in 2022, with a forecast for 2030 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1452878/forecast-global-elemental-boron-market-size/ (last visited November 21, 2024)
Market value of elemental boron worldwide in 2022, with a forecast for 2030 (in million U.S. dollars) [Graph], Zion Market Research, August 31, 2023. [Online]. Available: https://www.statista.com/statistics/1452878/forecast-global-elemental-boron-market-size/
