Asia: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Asia

The Asian market for oxides of boron and boric acids totaled $X in 2021, growing by 13% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Oxides Of Boron and Boric Acids in Asia

In value terms, boron oxide and boric acid production dropped slightly to $X in 2021 estimated in export price. In general, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 85%. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Exports of Oxides Of Boron and Boric Acids

Exports in Asia

Boron oxide and boric acid exports surged to X tons in 2021, jumping by 22% on the year before. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 97% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, boron oxide and boric acid exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporting country with an export of around X tons, which resulted at 31% of total exports. Taiwan (Chinese) (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by India (12%), Malaysia (11%), Turkey (11%), South Korea (9.1%) and the United Arab Emirates (4.7%).

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +29.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest boron oxide and boric acid supplier in Asia, comprising 40% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+31.0% per year) and India (+6.3% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 18% against the previous year. Export price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, boron oxide and boric acid export price decreased by -0.5% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 60% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports in Asia

Boron oxide and boric acid imports rose markedly to X tons in 2021, increasing by 13% on 2020. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 34% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, boron oxide and boric acid imports skyrocketed to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China was the largest importing country with an import of about X tons, which amounted to 61% of total imports. Taiwan (Chinese) (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (10%), Malaysia (5.5%) and Japan (5.2%). India (X tons) took a relatively small share of total imports.

Imports into China increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Malaysia (+12.7%) and Taiwan (Chinese) (+4.7%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of +12.7% from 2012-2021. By contrast, South Korea (-1.0%), India (-3.1%) and Japan (-12.0%) illustrated a downward trend over the same period. China (+19 p.p.) and Malaysia (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Japan saw its share reduced by -4.8% and -16.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported oxides of boron and boric acids in Asia, comprising 56% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

In China, boron oxide and boric acid imports increased at an average annual rate of +3.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (-2.9% per year) and Taiwan (Chinese) (+2.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, increasing by 7.5% against the previous year. In general, the import price, however, continues to indicate a pronounced setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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