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Turkey - Borates - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Turkey - Borates - Market Analysis, Forecast, Size, Trends And Insights

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Jan 18, 2023

Turkey's Borate Price Rises Notably to $444 per Ton

Turkey Borates Export Price in September 2022

In September 2022, the borates price stood at $444 per ton (FOB, Turkey), picking up by 9.8% against the previous month. Over the last eight months, it increased at an average monthly rate of +2.6%. The most prominent rate of growth was recorded in June 2022 when the average export price increased by 18% m-o-m. Over the period under review, the average export prices reached the maximum in September 2022.

There were significant differences in the average prices for the major foreign markets. In September 2022, the country with the highest price was the United States ($863 per ton), while the average price for exports to Latvia ($306 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Borates Exports

In September 2022, the amount of borates exported from Turkey plummeted to 55K tons, shrinking by -20.4% compared with the previous month. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 with an increase of 48% m-o-m. The exports peaked at 108K tons in June 2022; however, from July 2022 to September 2022, the exports failed to regain momentum.

In value terms, borates exports declined to $25M (IndexBox estimates) in September 2022. Over the period under review, exports, however, showed a temperate increase. The most prominent rate of growth was recorded in August 2022 when exports increased by 49% month-to-month. Over the period under review, the exports hit record highs at 39K tons in June 2022; however, from July 2022 to September 2022, the exports remained at a lower figure.

Turkey Borates Exports by Country

China (23K tons) was the main destination for borates exports from Turkey, with a 41% share of total exports. Moreover, borates exports to China exceeded the volume sent to the second major destination, Russia (9.8K tons), twofold. Malaysia (5K tons) ranked third in terms of total exports with a 9.1% share.

From January 2022 to September 2022, the average monthly rate of growth in terms of volume to China amounted to +1.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Russia (+51.9% per month) and Malaysia (+33.4% per month).

In value terms, the largest markets for borates exported from Turkey were China ($7.9M), Russia ($4.8M) and Malaysia ($2.5M), together comprising 62% of total exports.

Russia, with a CAGR of +48.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Borate Market Overview

Borates are an important industrial mineral commodity used in a wide range of applications. The major uses for borates are in the production of glass, ceramics and enamels. Turkey is one of the world's leading producers and suppliers of borates, with a significant share of the global market. Turkish borates are high quality and competitively priced, making them a preferred choice for many buyers.

The construction industry in Turkey is expanding at a rapid pace, which is driving the demand for borates. Additionally, the growing popularity of ceramic tiles and sanitary ware in Turkey is also fuelling the demand for borates.

However, the high cost of borates and stringent environmental regulations are some of the major challenges faced by the market players operating in the Turkish borates market. Moreover, the presence of large number of unorganized players is also hindering the growth of the market.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the borates market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20136230 - Borates, peroxoborates (perborates)

Country coverage:

  • Turkey

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Turkey
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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