Boric acid market seen reaching $1.8 billion by 2032

By AI, Created 11:41 AM UTC, June 02, 2026, /AGP/ – Allied Market Research says the global boric acid market was worth $1.0 billion in 2022 and is projected to hit $1.8 billion by 2032, driven by demand in construction, industrial uses and healthcare. Asia-Pacific led the market in 2022, while pharmaceutical-grade boric acid is expected to grow fastest.

Why it matters: - Boric acid demand is expanding across construction, industrial manufacturing, agriculture and healthcare. - Allied Market Research projects the global market will grow at a 5.6% CAGR from 2023 to 2032. - The forecast points to continued use of boric acid in products tied to durability, preservation and antimicrobial performance.

What happened: - Allied Market Research published a report on the global boric acid market covering grades and end-use industries from 2022 to 2032. - The market was valued at $1.0 billion in 2022 and is projected to reach $1.8 billion by 2032. - The report covers pharmaceutical grade, industrial grade and other grades, along with automotive, construction, agriculture, pharmaceutical and healthcare, electronics and other end uses. - The report is available through a sample request page.

The details: - Industrial-grade boric acid held the largest share in 2022, with more than two-fifths of global revenue. - Industrial-grade material is used in glass, ceramics, detergents, textiles, plastics, metalworking fluids and nuclear power generation. - Pharmaceutical-grade boric acid is expected to post the fastest segment CAGR at 5.9% through 2032. - Pharmaceutical-grade boric acid is used in ophthalmic solutions, skin ointments, ear drops and other medicinal products. - Construction was the largest end-use segment in 2022, with more than one-fourth of global revenue. - Boric acid is used in wood preservation, cellulose insulation, concrete additives and specialized cement formulations. - The pharmaceutical and healthcare segment is projected to grow at a 6.0% CAGR between 2023 and 2032. - Asia-Pacific was the largest regional market in 2022, accounting for more than two-fifths of global revenue. - The report names BASF SE, 3M, GUJARAT BORON DERIVATIVES PVT LTD, SPEED INTERNATIONAL, MINERA SANTA RITA, QUIBORAX, U.S. BORAX, ETI MADEN, JUNSEI CHEMICAL CO., LTD. and ROSE MILL CO. as key players.

Between the lines: - Boric acid’s antimicrobial, antifungal, flame-retardant and corrosion-inhibiting properties are driving use across multiple industries. - Rapid industrial activity and rising construction spending are supporting demand, while environmental rules and health concerns may limit growth. - The Russia–Ukraine conflict is adding supply-chain uncertainty through production, transportation and trade disruptions. - Manufacturers may respond by seeking alternative materials and diversifying sourcing.

What’s next: - Fiberglass manufacturing could create additional growth opportunities during the forecast period. - Asia-Pacific is expected to keep its lead as industrialization, infrastructure spending and agricultural activity expand in China and India. - Companies are focusing on product launches, partnerships, joint ventures, capacity expansions and collaborative agreements to strengthen market positions. - The full report is available through purchase options.

The bottom line: - Boric acid is on a steady growth path, with construction, industrial uses and healthcare expected to anchor demand through 2032.