Global Tributyl Borate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Tributyl Borate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Tributyl borate is used as a solvent or catalyst for the production of resins, waxes, paints and varnishes. It is used as a chemical intermediate in organic reaction. It is used in welding fluxes and as a component of flame-retardant for textile. It is used as a novel electrolyte additive to improve the stability of LiCoO2 cathode operating at a high charging-cutoff voltage.

Market Overview:

The latest research study on the global Tributyl Borate market finds that the global Tributyl Borate market reached a value of USD 7.13 million in 2022. It’s expected that the market will achieve USD 9.4 million by 2028, exhibiting a CAGR of 4.71% during the forecast period.

Impact of Russia and Ukraine War

The war continues to cause untold suffering and destruction in Ukraine, but it is also having a profound impact on the economy. Inflation has spiked under pressure from the prices of energy, food and other commodities, hitting a global economy still grappling with the economic consequences of the pandemic crisis. The European Union is one of the most affected economies because of its geographical proximity to the war and its heavy reliance on imported fossil fuels (although this dependence is decreasing). Real GDP growth exceeded expectations in the first half of the year, though rising inflation has dented some of the postwar optimism. As containment measures were relaxed, consumers resumed international travel and flocked back to restaurants, hotels and other contact-intensive services in a powerful spending spree. China's economy continued to expand in the third quarter, though at a slower pace. As the terms of trade shock spread through the economy, the sharp decline in household purchasing power dramatically changed consumer sentiment. Confidence in the business sector has also fallen sharply amid high production costs, remaining supply bottlenecks, tighter financing conditions and heightened uncertainty.
War is slowing economic recovery
Before the war, the world economy was recovering from the blow brought by COVID-19. Supply chain disruptions exacerbated by the conflict in Ukraine and shutdowns in China due to a zero-coronavirus policy have dealt a severe blow to the economic recovery. Growth in almost all economies will be significantly weaker than expected. Many of the worst-hit countries are in Europe, which is vulnerable to war due to energy imports and refugee flows. Countries around the world are being hit by rising commodity prices, which have added to inflationary pressures, dampening real income and spending, further dampening the economic recovery.

The growing demand from the downstream market.

The growing demand from the downstream market is the driving force for the development of the industry. Tributyl borate products are used in coating, semiconductor, chemical intermediates and other industries. With the continuous development of national economy, the demand of downstream industries continues to grow, which will also drive the rapid development of Tributyl Borate industry. Emerging and developing countries still have great potential for improvement. Emerging countries are still in the medium consumption market, while developing countries are still in the relatively low consumption market, and there is still a large gap in the added value of Tributyl Borate materials per unit mass. With economic development, the consumption upgrading of emerging countries and developing countries will be inevitable. For example, emerging countries represented by China will take the lead in breaking through mature Tributyl Borate materials by forming favorable industrial chain supporting with the economic dividend of rapid development. The development of tributyl borate will also accelerate to promote the development of tributyl borate industry. The wide application of tributyl borate and its market expansion in the global market have brought potential opportunities for the development of tributyl borate industry itself.

New application of electrolyte additives.

There are many kinds of additives for lithium battery electrolyte, which are small in mass ratio and high in unit value, and can be oriented to optimize various properties of electrolyte, such as conductivity, flame retardant property, overcharge protection, rate performance, etc. Based on the different characteristics of all kinds of batteries, as well as the battery's continuous pursuit of energy, power, circulation, safety and other performance, the importance of additives is particularly prominent, it can even be said that the development and application of additives will become one of the core competitiveness of electrolyte enterprises. According to the Electrochemistry Journal, tributyl borate as a new electrolyte additive, to improve the stability of LiCoO2 cathode operating at a high charging-cutoff voltage, has been used in lithium energy storage battery. It is widely used in various mobile terminals. With the development of society, the application of intelligent electronic equipment has put forward higher energy density requirements, lithium ion battery is the most widely used in intelligent equipment energy storage equipment, but lithium ion in high voltage charging will cause damage to the cathode structure and electrolyte oxidation, resulting in poor cycling performance, adding additives in the electrolyte can improve one of the problems. And form a protective layer for the cathode. The results show that tributyl borate is a good electrolyte additive, which indicates that organic borate has good commercial potential. The new research and application of the function mechanism of tributyl borate (TBB) will promote the development of this industry.

Region Overview:

In 2022, the share of the Tributyl Borate market in APAC stood at 54.93%.

Company Overview:

Suqian Nanxiang Chemicals is one of the major players operating in the Tributyl Borate market, holding a share of 21.49% in 2023.

Suqian Nanxiang Chemical Manufacturing Co., Ltd. is a production base invested by Shanghai Nanxiang Reagent Co., LTD. The factory is located in Suqian Ecological Chemical Science and Technology Industrial Park, Jiangsu Province. At present, it mainly produces malonic acid, tri-butyl borate, 2-pyridinic acid, 2-bromoethylamine hydrobromide, 4,4' -dimethoxy-triphenyl chloromethane (DMT-Cl) and Gilalt reagent T and other products. The company has passed ISO14001 Environmental management system certification and OHSAS18001 Occupational Health and safety management system certification in 2014, and ISO9001 quality management system certification in 2016.

JSC Aviabor is a chemical plant founded in 1960, a world leader in boron compounds production. Research center has successfully introduced and applied a series of technologies. Up-to-date laboratories can synthesize new boron-compounds products on customer’s request. Well-proven production process meets the latest world standards and requirements.

Segmentation Overview:

By type, Industrial Grade segment accounted for the largest share of market in 2022.

Industrial grade tributyl borate is mainly used for the preparation of borohydride compound intermediates for synthetic rubber additives, lubricating oil additives, coating additives, drying grade, etc. Others in the classification include electronic grade tributyl borate, high purity tributyl borate for experimental analysis and research and development, electronic grade tributyl borate is mainly used as a boron diffuser for semiconductors, these tributyl borate has the characteristics of high purity, less impurity and high price.

Application Overview:

The market's largest segment by application is the segment Chemical Intermediate, with a market share of 83.75% in 2022.

Key Companies in the global Tributyl Borate market covered in Chapter 3:

Hangzhou Haihang
Shanghai Heyi Chemical
JSC Aviabor
Nanjing Hengze Biotechnology
Shanghai Synmedia Chemical
Zibo Boshan Jinnuo Auxiliary Agent Factory
Suqian Nanxiang Chemicals

In Chapter 4 and Chapter 14.2, on the basis of types, the Tributyl Borate market from 2018 to 2029 is primarily split into:

Industrial Grade
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Tributyl Borate market from 2018 to 2029 covers:

Chemical Intermediate
Semiconductor
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)