PUNE, India, November 22, 2016 /PRNewswire/ -- 2016 boric acid market research says one of latest trends in the market is high demand for boric acid in energy saving appliances. The demand for boric acid used in energy-saving applications such as the insulation for commercial and residential buildings is on the rise. The compound is also used for energy generation from oil extraction and wind. In North America, especially in the US, the reduction in unemployment rates and stable income levels has increased construction activities. This factor along with an increase in consumer spending will foster the demand for boric acid, thereby driving the market growth during the forecast period. Complete report on boric acid market spread across 55 pages, analysing 6 major companies and providing 33 data exhibits now available at http://www.reportsnreports.com/reports/749321-global-boric-acid-market-2016-2020.html. This analyst forecast the global boric acid market to grow at a CAGR of 7.44% during the period 2016-2020. According to the report, one of the primary drivers in the market is rapid urbanization. Urbanization, energy needs, and the demand for food products globally are fostering the global boric acid market. Urbanization and rising disposable incomes, especially in developing economies, have elevated the demand for glazed ceramics, electronic devices, and LCD televisions. These appliances contain borosilicate glass and textile fiberglass. Glass and fiberglass segment led the boric acid market and will continue to dominate the market during the forecast period. The fiberglass segment includes borosilicate glass, fiberglass, and insulation fiberglass. Some of the factors that will propel the boric acid market segment's growth are an increase in the global construction industry and rising demand for higher thermal efficiency, lightweight, strength, durability, and eco-friendly insulation products. Moreover, with the rising awareness of energy conservation methods, the demand for fiberglass is estimated to increase over the next few years.