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Welcome back to the Borates Today podcast.
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Each week we cover a topic that is relevant to the industry and timely.
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We cover the latest industry news.
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Who are the key players in the sector?
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What are the latest trends, driving demand and supply for boron.
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What is the science behind boron and who's doing valuable research into
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new boron applications and benefits?
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We look at how boron helps in advanced energy, in food security,
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and in providing nutrition.
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So don't forget to check out boron applications and benefits
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on our website borates.today.
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In today's podcast, we're going to look at the global high purity
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boron market, which will experience strong growth in the coming years.
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This is mainly due to the increasing demand for boron based products
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across various industries, including electronics, semiconductors
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and in the automotive sector.
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The High Purity Boron Market.
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According to fact.mr., the global high-purity born market is forecast to
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grow at a compound annual growth rate of three and a half percent from just over $1
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billion to nearly one and a half billion dollars in the coming 10 year cycle.
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This is compared to a 2.2 compound annual growth rate between 2017 and 2021.
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These higher numbers are a result of the increasing demand for advanced
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solutions in boron-based chemicals and materials in various industries,
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which we will discuss below.
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Boron is a crucial element in manufacturing a wide range of products,
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including glass, ceramics, detergents, agricultural chemicals, and electronics.
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This growing demand for these products is expected to fuel the growth.
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of the high-purity boron market over the next decade accounting for approximately
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42% of the total boron market.
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As an aside, North America accounts for 35.1% of the boron market share in 2022.
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So what does the growth forecast look like for the next 10 years?
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High purity boron is more expensive than regular boron.
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And it's usually sold as a powder.
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However, the expanding scope of its applications is forecast
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to impact the market's growth.
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High purity boron also produces borides, which are used in the
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pharmaceutical and ceramic industries.
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High purity boron is also gaining popularity in the semiconductor
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industry and for laser technology.
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Small amounts of high-purity boron can be added to semiconductor materials
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to change their electrical properties, making them more efficient and effective.
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The high-purity boron market is further being used as a raw material.
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High purity boron is further being used as a raw material for atomic
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reactor control rods and as a catalyst in organic synthetic mechanisms.
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The low solubility of high-purity boron in water, alcohol, hydrochloric acid, and
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ether is a critical demand driving factor.
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Top players in the high-purity boron market concentrate on developing enriched
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products for specific applications.
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The emerging trend of introducing nanomaterials throughout various
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industries is expected to broaden the application of high-purity boron
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solutions driving further market growth.
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High purity boron is also in high demand in the electronics industry
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for its exceptional performance, quality and affordability.
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As a semiconductor dopant, it produces monocrystalline silicon, which is
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required for electronic applications.
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Furthermore boron carbide is used in military lightweight armor applications.
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So, where does this high-purity boron come from?
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Well, boron is naturally found in the form of borates,
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colemanite and orthoboric acid.
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Global industries primarily use four types of boric, mineral to
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produce various forms of boron.
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Colemanite kernite tinkle and ulexite.
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Turkey and the United States have the most boron resources followed by other parts of
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North and South America, Europe, and Asia.
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Colemanite is the most common type of boron deposit in Turkey, comprising around
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70% of all deposits in that country.
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In the United States, tincal, kernite, and borates in brines make up the majority
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of deposits with ulexite and colemanite occurring in smaller quantities.
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According to estimates, global reserves of boron are sufficient to meet future
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demand at current consumption levels.
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Depending on the final application, manufacturers deliver various grades
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of boron ranging from 99% to 99.999%.
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The higher boron purity levels are marketed as ultra high purity boron.
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As demand for high-purity metals rises, only a few global
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manufacturers will remain dominant.
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One such manufacturer, 5E advanced materials in Fort Cady, California, has
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set out a long term strategy to provide high-purity boron to satisfy the market
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for advanced materials, which contribute to decarbonization, advanced energy
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solutions and industrial agrochemicals.
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5E Advanced Materials, which was previously known as American
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Pacific Borates, is a strategically important mineral asset.
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The asset in Fort Cady is located in Southern California and it's well-placed
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to unlease substantial value through the monetization of the higher purity
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boric acid, as well as standard borates.
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Boric acid is used in a wide range of legacy applications,
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including glasses, fertilizers, ceramics, detergents, and so on.
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But it is the newer rapidly expanding applications driven
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by de-carbonization and advanced energy which are exciting investors.
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Co-product opportunities are happening with the Fort Cady asset base,
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which will improve the relative cost curve and associated economics.
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As a result, 5E Advanced Materials is well positioned to
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capitalize on this opportunity and increase its shareholder value.
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And that's all from Borates Today.
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For more information on the high purity boron market, please
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refer to Borates Today website.
