Middle East & Africa Boron Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Middle East & Africa boron market size is expected to reach US$ 139.44 million by 2031 from US$ 112.78 million in 2023. The market is estimated to record a CAGR of 2.7% from 2023 to 2031.

Executive Summary and Middle East & Africa Boron Market Analysis:

The electronics industry in the Middle East & Africa is experiencing growth, driven by the rising consumer demand for smartphones, tablets, laptops, and other electronic devices. Countries in the region seek to attract various smartphone and other electronic product manufacturers. For instance, in September 2022, Egypt's Information Technology Industry Development Agency (ITIDA) and Chinese electronics manufacturer OPPO signed a memorandum of understanding (MoU) to build a mobile phone manufacturing plant in Egypt with ~US$ 20 million in investments. Furthermore, in August 2022, Nokia phone manufacturer HMD Global partnered with Etisal for Advanced Industries (EAI) to assemble 1 million mobile phones in Egypt in 2022, with plans to double production later. Thus, the growing investment by manufacturers in the region is expected to fuel the demand for boron in the electronics industry.

Middle East & Africa Boron Market Strategic Insights

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Middle East & Africa Boron Market Segmentation Analysis

Key segments that contributed to the derivation of the Middle East & Africa boron market analysis are derivatives and end-use industry.

• Based on derivatives, the Middle East & Africa boron market is segmented into borax, boric acid, boron nitride, boron carbide, boron oxide, and others. The boron nitride segment held the largest share of the market in 2023.
• Based on end-use industry, the Middle East & Africa boron market is segmented into agrochemicals, glass, ceramics, detergents, pharmaceuticals, electrical and electronics, and others. The glass segment held the largest share of the market in 2023. 

Middle East & Africa Boron Market Outlook

Boron is a key compound used in the production of glass products such as borosilicate glass, insulation fiberglass, super-fine glass fiber, textile fiberglass, display glass, and special glass. Textile fiberglass or E-glass is used in electronics as well as for reinforcement of composites. Borates are used in the insulation of fiberglass, whereas glass wool contains 4–7% borates. In addition, boric oxide is used to manufacture high-quality handmade decorative ware. A cesium borosilicate glass is used to protect solar cells on satellites from the harmful radiation encountered in space. 

The use of boric oxide in the manufacturing of neutral glass offers increased resistance to chemicals. In the production of optical glass, the use of boric oxide offers specific optical properties with respect to refractive index and light dispersion. Boron nitride is an advanced ceramic material, synthetically produced and available in powder form. It offers thermal conductivity and thermal shock resistance. In the ceramics industry, boric oxide and sodium borate are used to improve strength as well as resistance to scratches and chemicals. With the growth of the glass & ceramics industry, boron has found various applications. Thus, the growth of the glass & ceramics industry drives the boron market.

Middle East & Africa Boron Market Country Insights

Based on country, the Middle East & Africa boron market comprises South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held the largest share in 2023.

Egypt, Nigeria, Oman, Qatar, Kuwait, Iran, Turkey, and Kenya are among the major countries in the Rest of Middle East & Africa boron market. These countries are focused on making significant investments in the glass industry, emphasizing the construction and packaging sectors. Sisecam Group, the world's fifth largest glass packaging producer, increased its flat glass production capacity to 2.5 million tons in June 2021 with an investment in two new float lines in Turkey. In addition, the emergence of the Internet of Things, artificial intelligence, and 5G networks drives the demand for high-performance electronic devices in these countries. In October 2023, Pearl Semiconductor, an Egyptian startup, raised US$ 4.5 million from prominent participants such as Sawary Ventures, Qatar's QBN Capital, and a group of angel investors contributing to the financing round. The increase in collaboration and investment strategies in the Rest of Middle East & Africa drives the boron market in the region.

Middle East & Africa Boron Market Report Highlights

Middle East & Africa Boron Market Company Profiles

Some of the key players operating in the market are Hoganas AB; 3M Co; Ube Corporation; Arkema SA; JFE Mineral & Alloy Co Ltd; Tokyo Chemical Industry Co Ltd; Rio Tinto Ltd; Compagnie de Saint Gobain SA; Eti Maden;  Nippon Denko Co., Ltd.; Stella Chemifa Corporation; FREEMAN (JAPAN) CO., LTD; KROSAKI HARIMA CORPORATION; Washington Mills Electro Minerals Limited; and Boron Specialties LLC, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Middle East & Africa Boron Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Middle East & Africa Boron Market Country and Regional Insights