Africa: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Africa

The African market for oxides of boron and boric acids surged to $X in 2021, rising by 39% against the previous year. Overall, consumption saw a remarkable increase. The level of consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Oxides Of Boron and Boric Acids in Africa

In value terms, boron oxide and boric acid production reduced to $X in 2021 estimated in export price. In general, production, however, saw a abrupt setback. The growth pace was the most rapid in 2015 when the production volume increased by 23%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports in Africa

In 2021, overseas shipments of oxides of boron and boric acids increased by 180% to X tons, rising for the third year in a row after six years of decline. Overall, exports recorded strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, boron oxide and boric acid exports soared to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Egypt was the main exporter of oxides of boron and boric acids in Africa, with the volume of exports reaching X tons, which was near 61% of total exports in 2021. South Africa (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Tunisia (10%) and Nigeria (6.8%). Kenya (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to boron oxide and boric acid exports from Egypt stood at +80.8%. At the same time, Tunisia (+110.9%), Kenya (+43.1%), Nigeria (+25.0%) and South Africa (+4.3%) displayed positive paces of growth. Moreover, Tunisia emerged as the fastest-growing exporter exported in Africa, with a CAGR of +110.9% from 2012-2021. While the share of Egypt (+61 p.p.), Tunisia (+10 p.p.), Nigeria (+6.8 p.p.) and Kenya (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Africa (-10.5 p.p.) displayed negative dynamics.

In value terms, Egypt ($X), South Africa ($X) and Tunisia ($X) constituted the countries with the highest levels of exports in 2021, together comprising 86% of total exports.

Among the main exporting countries, Tunisia, with a CAGR of +86.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, falling by -27.1% against the previous year. Overall, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 9.9% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Kenya ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kenya (-0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports in Africa

In 2021, approx. X tons of oxides of boron and boric acids were imported in Africa; surging by 46% on 2020. Overall, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 68% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, boron oxide and boric acid imports surged to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2018 with an increase of 56%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, Morocco (X tons) was the major importer of oxides of boron and boric acids, making up 68% of total imports. It was distantly followed by South Africa (X tons) and Egypt (X tons), together mixing up a 23% share of total imports. Nigeria (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to boron oxide and boric acid imports into Morocco stood at +11.8%. At the same time, Nigeria (+22.5%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Africa, with a CAGR of +22.5% from 2012-2021. South Africa experienced a relatively flat trend pattern. By contrast, Egypt (-2.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Morocco and Nigeria increased by +22 and +1.7 percentage points, respectively.

In value terms, Morocco ($X) constitutes the largest market for imported oxides of boron and boric acids in Africa, comprising 57% of total imports. The second position in the ranking was taken by South Africa ($X), with a 20% share of total imports. It was followed by Egypt, with a 7.3% share.

In Morocco, boron oxide and boric acid imports increased at an average annual rate of +18.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Africa (-1.3% per year) and Egypt (-6.5% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, picking up by 3.8% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 5.4%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+5.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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