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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Market value 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 August 24, 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 August 24, 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: August 24, 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 August 24, 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/