The revenue of the global Sodium Borate Market is anticipated to grow at a steady CAGR during the forecast period. The market growth will be driven by factors such as the rising demand for hygiene and detergent products due to the ongoing pandemic and increasing use in laboratories.
Borax, also known as sodium borate, sodium tetraborate, and disodium tetraborate, is a white powder that is naturally occurring and can be found in trace amounts in soil, water, plants, and animals. It is commonly used as a domestic cleanser and a washing powder booster due to its composition of boron, sodium, and oxygen.
Borates enhance cleansing action, prevent dirt redeposition, and result in cleaner garments. They can be added to powdered detergents or incorporated with sodium perborate for a whitening effect. Borates are also effective in liquid detergents because they stabilize enzymes for stain removal. Additionally, glass producers add boric oxide to the silica matrix to reduce melting temperature and viscosity and improve mechanical and thermal shock resistance.
The increasing need for disinfectants during the pandemic, rising demand for detergent due to rapid urbanization, and growing glass industries are expected to drive the sodium borate market's revenue growth. Sodium borate is a main component in household laundry detergents in powder, bar, and liquid forms, and it is also used as an industrial cleaning agent.
However, limited raw materials from natural resources and the purification process may hamper the revenue growth of the market to a certain extent. Additionally, overexposure during manufacturing and packaging processes may also restrain revenue growth.
Major companies worldwide are working to produce sodium borate synthetically on a large scale, leading to rising demand and affordable prices. Moreover, exploration of the compound's reserves in the world due to growing demand for detergents, use in biomedical research institutes, and glass industries are expected to open up new opportunities for revenue growth.
The crystal segment is expected to contribute significantly to revenue growth since it is commonly used in laundry detergent and other disinfectant products. The washing powder segment is also expected to account for the largest revenue share due to the increasing demand for low-cost cleaning supplies for households.
The market in the Asia Pacific region is expected to account for the largest revenue share due to rising demand for detergent, rapid population growth, and industrialization and urbanization in key countries like India, China, and Japan. The North American market is expected to continue leading in terms of revenue CAGR.
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Sodium Borate Market: Drive Factors
The sodium borate market is driven by several factors, including increasing demand for disinfectants due to the pandemic, growing demand for detergent and washing powder, and rising glass industries. Sodium borate is a key component used in the manufacture of household laundry detergents in powder, bar, and liquid form, as well as industrial cleaning agents. Technological advancements leading to the development of new processes for producing synthetic solutions and strengthening the manufacturing capacities of various major companies are other factors contributing to the market's revenue growth during the forecast period. However, limited raw materials from natural resources and purification processes may hamper the market's revenue growth to a certain extent. Nonetheless, researchers are exploring the effect of boron on human health, and rising extraction and exploration of the compound's reserves in the world due to growing demand for detergents, use in biomedical research institutes, and glass industries are expected to further open up new avenues for major companies and revenue growth of the market.
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