Australia: Borates Market 2024

Borates Market Size in Australia

In 2022, the Australian borates market increased by 31% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a slight downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Borates Exports

Exports from Australia

After four years of growth, overseas shipments of borates decreased by -2% to X tons in 2022. Over the period under review, exports, however, showed a perceptible expansion. The pace of growth was the most pronounced in 2016 when exports increased by 64%. Over the period under review, the exports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, borates exports surged to $X in 2022. In general, exports, however, saw resilient growth. The pace of growth appeared the most rapid in 2013 when exports increased by 56%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons), New Zealand (X tons) and Papua New Guinea (X tons) were the main destinations of borates exports from Australia, together comprising 34% of total exports. Belgium, Singapore, Canada, Germany, the UK, Peru, France, Ireland, Gabon and Vietnam lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Gabon (with a CAGR of +198.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Belgium ($X) and France ($X) appeared to be the largest markets for borates exported from Australia worldwide, together accounting for 27% of total exports. Gabon, Germany, Vietnam, Singapore, Canada, the UK, Peru, New Zealand, Papua New Guinea and Ireland lagged somewhat behind, together comprising a further 29%.

Gabon, with a CAGR of +178.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average borates export price stood at $X per ton in 2022, jumping by 29% against the previous year. Overall, the export price posted a prominent increase. The pace of growth was the most pronounced in 2015 an increase of 128% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Gabon ($X per ton), while the average price for exports to New Zealand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Borates Imports

Imports into Australia

In 2022, overseas purchases of borates increased by 7.9% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a perceptible decline. The pace of growth appeared the most rapid in 2018 when imports increased by 27%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, borates imports skyrocketed to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Turkey (X tons) and China (X tons) were the main suppliers of borates imports to Australia, together accounting for 80% of total imports. Argentina, Canada, Malaysia and Peru lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +16.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest borates suppliers to Australia were the United States ($X), Turkey ($X) and China ($X), with a combined 79% share of total imports. Canada, Argentina, Malaysia and Peru lagged somewhat behind, together comprising a further 16%.

Canada, with a CAGR of +19.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average borates import price stood at $X per ton in 2022, growing by 25% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, borates import price increased by +67.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 31% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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