Belgium: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Belgium

In 2021, the Belgian market for oxides of boron and boric acids increased by 43% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption enjoyed prominent growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports from Belgium

In 2021, overseas shipments of oxides of boron and boric acids increased by 57% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, saw a abrupt slump. The growth pace was the most rapid in 2020 when exports increased by 1,465% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, boron oxide and boric acid exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt downturn. The growth pace was the most rapid in 2020 when exports increased by 835%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for boron oxide and boric acid exports from Belgium, with a 91% share of total exports. Moreover, boron oxide and boric acid exports to Germany exceeded the volume sent to the second major destination, France (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total exports with a 0.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-26.2% per year) and the Netherlands (-40.9% per year).

In value terms, Germany ($X) remains the key foreign market for oxides of boron and boric acids exports from Belgium, comprising 84% of total exports. The second position in the ranking was held by France ($X), with a 5.8% share of total exports. It was followed by the Netherlands, with a 0.9% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at -12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-22.4% per year) and the Netherlands (-36.9% per year).

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price saw a tangible increase. The growth pace was the most rapid in 2015 when the average export price increased by 83% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+18.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports into Belgium

In 2021, overseas purchases of oxides of boron and boric acids increased by 44% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 72% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, boron oxide and boric acid imports soared to $X in 2021. In general, imports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 57%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Russia (X tons), Luxembourg (X tons) and the Netherlands (X tons) were the main suppliers of boron oxide and boric acid imports to Belgium, with a combined 95% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +45.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest boron oxide and boric acid suppliers to Belgium were Russia ($X), Luxembourg ($X) and the Netherlands ($X), together accounting for 89% of total imports.

Among the main suppliers, Luxembourg, with a CAGR of +39.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for oxides of boron and boric acids amounted to $X per ton, picking up by 5.9% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 25%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+20.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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