1 Global Zinc Borate Market Insight Analysis
The global zinc borate market is valued at USD 248.07 million in 2024, with a CAGR of 7.02% from 2024 to 2033.
Zinc borate is an inorganic compound, primarily used as a flame retardant due to its non-toxicity, low water solubility, high thermal stability, and excellent dispersibility. It is widely used in plastics, rubber, coatings, and other fields, making it an essential component in the production of fire-resistant materials. The market’s expansion is further fueled by the growing demand for environmentally friendly flame retardants, as zinc borate is considered a green alternative to traditional flame retardants.
Figure Global Zinc Borate Market Size (M USD) and CAGR (2024-2033)
2 Zinc Borate Market Growth Drivers and Restraints
From the perspective of driving factors, the first is the continued growth in demand for flame retardant materials. Zinc borates are mainly used in the flame retardant production of textiles, plastics, rubber and other products. With the widespread use of electronic products, automobiles, electrical appliances and other products around the world, the demand for high-performance insulating materials continues to increase, which directly drives the market demand for zinc borates as flame retardants.
For example, in the electronics industry, in order to ensure the safety of electronic products, the flame retardant properties of insulating materials are extremely high. Zinc borates have become a key material for manufacturing insulating products with their good flame retardant effect, which has effectively promoted the development of the market.
Secondly, the excellent properties and wide range of applications of zinc borates themselves are also important driving forces for market growth. It can not only be used as a flame retardant, but also play a role in many fields such as plastics, cellulose fibers, paper, rubber, textiles, coatings, adhesives and pigments. In some application scenarios, it can replace antimony (III) oxide as a synergist for halogen and halogen-free systems, and also has multiple functions such as anti-drip, anti-scorch, afterglow suppression, and arc and leakage suppression in electrical insulating plastics.
In addition, zinc borate has advantages in environmental protection. As a halogen-free flame retardant, it is safe, non-toxic, can inhibit the generation of smoke, and meets the increasingly stringent environmental protection policy requirements, which has won it a broader development space in the market.
However, the growth of the zinc borate market also faces some limiting factors. The problem of raw material supply is one of them. Its production mainly relies on raw materials such as boron-related compounds and zinc oxides. These raw materials are relatively expensive, resulting in rising production costs. Moreover, the global boron ore reserves will affect the supply stability of raw materials. If the boron ore supply fluctuates, it will directly affect the production scale and market supply of zinc borate.
In addition, there are some alternative products in the market, which have created competitive pressure on the zinc borate market. For example, aluminum hydroxide flame retardant has the advantages of good flame retardant performance and low price. It can replace zinc borate in some application fields, which to a certain extent limits the further expansion of the zinc borate market. Moreover, the price of zinc borate itself is relatively high, which makes some cost-sensitive customers prefer lower-priced alternatives when choosing flame retardants, thereby hindering the growth of the zinc borate market.
3 Technological Innovations in the Zinc Borate Market
In terms of technological innovation, as the requirements of relevant laws and regulations for flame retardant materials continue to increase, the zinc borate industry is also moving towards a more environmentally friendly and high-performance direction. Products are gradually shifting towards diversified, non-toxic and multifunctional consumption. For example, in terms of production technology, new preparation methods are constantly explored to improve product quality and performance. Among them, although the borate zinc oxide method has a high cost, it has the advantages of simple process, single product, and direct recovery of mother liquor;
while the zinc hydroxide method has a single product, no three wastes, and high boric acid utilization, but it requires on-site preparation of zinc hydroxide, which will produce by-products and wastewater. In addition, there are methods for preparing zinc borates from borates and zinc salts, as well as high-temperature solid-phase reaction methods. Different methods have their own advantages and disadvantages. While enterprises and research institutions are constantly optimizing existing processes, they are also actively exploring new technical paths to enhance the competitiveness of zinc borates in the market.
From the perspective of corporate mergers and acquisitions, the integration trend in the industry is becoming more and more obvious. Through mergers and acquisitions, enterprises can achieve optimal allocation of resources, expand production scale, and enhance market competitiveness. For example, Akdeniz Chemson continues to invest in its chemicals business following its October 2020 merger, planning to produce an additional 6,000 tons of zinc borates per year and increase capacity for its main raw material, zinc oxide, after completing its second phase of investment.
Nisus Corporation acquired the assets of Lord’s Additives LLC in September 2019, a move that further expanded its presence in the zinc borate market, as zinc borates are used not only as flame retardants but also as preservatives in composite products such as oriented strand board and siding.
4 Global Zinc Borate Market Size by Type
This type of zinc borate is expected to dominate the market in 2024, generating a revenue of $88.60 million. This represents the largest share of the total market, accounting for 35.71% of the global zinc borate revenue. Its widespread use in plastics, rubber, and coatings, particularly where high processing temperatures are required, makes it a preferred choice among manufacturers.
The second most significant contributor in 2024 is 2ZnO·3B2O3, with a projected revenue of $62.28 million, capturing 25.11% of the total market share. This type is valued for its flame retardant properties and is commonly used in applications where high thermal stability is crucial.
This type, known for its balance between thermal stability and flame retardancy, is projected to generate $27.69 million in revenue, representing 11.16% of the total market share. Its applications span across various industries, including electronics and automotive, where its specific properties are highly valued.
This type, recognized for its high efficiency in flame retardancy, is expected to contribute $24.52 million to the market revenue, accounting for 9.88% of the total share. It is particularly effective in applications involving high temperatures and stringent fire safety requirements.
This type, used in a variety of applications due to its non-toxic nature and flame retardant properties, is projected to generate $17.95 million in revenue, representing 7.24% of the total market share. Its use in plastics and rubber provides effective flame retardancy without compromising safety.
Table Global Zinc Borate Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
2ZnO·3 B2O3·3.5H2O | 88.60 | 35.71% |
2ZnO·3 B2O3 | 62.28 | 25.11% |
4ZnO·B2O3·H2O | 27.69 | 11.16% |
4ZnO·6B2O3·7H2O | 24.52 | 9.88% |
2ZnO·2B2O3·3H2O | 17.95 | 7.24% |
Others | 27.04 | 10.90% |
5 Global Zinc Borate Market Size by Application
The most dominant application of zinc borate is as a flame retardant, which is projected to generate a substantial revenue of $221.65 million in 2024. This application accounts for a significant portion of the total market, with a share of 89.35% in 2024. The use of zinc borate in flame retardants is driven by its non-toxic nature, high thermal stability, and excellent flame retardant properties. It is widely used in plastics, rubber, coatings, and textiles, where fire safety is a critical concern. The growing demand for fire-resistant materials in electronics, automotive, and construction industries is expected to boost the market further.
The second significant application is in compound formulation, where zinc borate is used as an additive to enhance the properties of various compounds. In 2024, this segment is expected to contribute $18.84 million to the market revenue, holding a share of 7.60%. The use of zinc borate in compound formulations is advantageous due to its ability to improve the thermal stability and flame retardancy of the final product. It is particularly useful in the production of polymers, adhesives, and sealants.
Table Global Zinc Borate Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Flame Retardant | 221.65 | 89.35% |
Compound Formulation | 18.84 | 7.60% |
Others | 7.57 | 3.05% |
6 Global Zinc Borate Market Size by Region
North America is a key player in the global zinc borate market, with projected revenues reaching $43.26 million in 2024. This region has been consistently growing, reflecting the increasing demand for flame retardant materials in industries such as electronics, automotive, and construction. The steady growth in North America is also driven by stringent safety regulations and the push for environmentally friendly products. The region’s advanced manufacturing capabilities and well-established infrastructure support the production and distribution of zinc borate.
Europe is another significant market for zinc borate, with revenues projected to amount to $51.07 million in 2024. The European market is characterized by a strong emphasis on environmental regulations, which drives the demand for non-toxic and sustainable flame retardants. Countries like Germany and France are major consumers of zinc borate, utilizing it extensively in their manufacturing sectors. The region’s focus on sustainability and innovation is expected to continue driving the market growth.
The Asia Pacific region is the largest market for zinc borate, with revenues projected to reach $117.88 million in 2024. This region’s growth is driven by the rapid industrialization and urbanization in countries like China and India, which increases the demand for construction materials and consumer goods that require flame retardants. Additionally, the region’s growing electronics and automotive industries are significant consumers of zinc borate. The Asia Pacific region’s market is expected to continue expanding due to its economic development and increasing industrial activities.
Latin America, though a smaller market compared to North America, Europe, and Asia Pacific, still contributes significantly with projected revenues of $15.13 million in 2024. The region’s market is growing due to the increasing demand for flame retardant materials in emerging industries and the expansion of existing ones. Countries like Brazil and Mexico are key drivers of this growth, with their developing economies and growing industrial sectors.
The Middle East and Africa region is also an important market for zinc borate, with revenues projected to reach $20.74 million in 2024. This region’s market is driven by the growing demand for construction materials and the expansion of industrial sectors. Countries like Saudi Arabia and the UAE are significant consumers of zinc borate, using it in their construction and industrial applications. The region’s market is expected to grow as these countries continue to develop their infrastructure and industrial capabilities.
Figure Global Zinc Borate Market Size (M USD) by Region in 2024
7 Global Zinc Borate Market Analysis by Major Players
U.S. Borax
Company Profile: U.S. Borax, established in 1872, is a global leader in the supply of industrial minerals and sciences. With a strong presence in over 30 industrial, agricultural, and specialty products sold under the iconic 20 Mule Team® Borax brand, the company is well-known for its quality and American Old West heritage. U.S. Borax is part of Rio Tinto and serves 500 customers across the globe from more than 1,700 delivery locations.
Business Overview: U.S. Borax provides approximately 30% of the world’s refined borate supply. The company operates through several business units, including advanced intermediates, specialty additives, protection, and engineered materials. This includes 11 business units through which Lanxess cooperates with a wide range of applications and markets.
Product Offered: U.S. Borax offers a unique form of zinc borate known as Firebrake® ZB, which is used in multifunctional fire-retardant applications in plastics and rubber compounds. This product is known for its high processing temperatures and ability to retain translucency, making it ideal for various applications.
Lanxess
Company Profile: Lanxess, founded in 2004 and based in Cologne, is a leading specialty chemicals company with a global market presence. The company is renowned for its production, development, and marketing of chemical intermediates, additives, specialty chemicals, and plastics.
Business Overview: Lanxess manages its operations through four departments: advanced intermediates, specialty additives, consumer protection, and engineered materials. This structure includes 11 business units through which Lanxess serves diverse applications and markets, making it a versatile player in the chemical industry.
Product Offered: Lanxess offers Zinc Borate ZB-223, a white, non-hygroscopic, free-flowing powdered zinc borate. It is primarily used as a flame retardant/smoke suppressant for PVC. The product’s particle size and refractive index allow for tinting strength benefits in minimizing pigment loadings and in translucent formulations.
Shandong Wuwei Flame Retardant
Company Profile: Shandong Wuwei Flame Retardant, established in 1998, is a professional environment-friendly flame retardant & D company. With a global market distribution, the company is committed to technological innovation and new product development.
Business Overview: Shandong Wuwei Flame Retardant focuses on the production and sales of zinc borate flame retardants. The company’s main product is zinc borate flame retardant, used in glass and ceramic glazes, among other applications. They prioritize technological innovation and are dedicated to developing various products to meet customer needs.
Product Offered: Shandong Wuwei Flame Retardant offers ZB200, a readily dispersible, high whiteness powder that does not detract from bright colors and pure whites. It is mainly used as a fire retardant, fiber, and anticorrosion in coatings.