Canada: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Canada

The Canadian market for oxides of boron and boric acids skyrocketed to $X in 2021, picking up by 35% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a buoyant expansion. Boron oxide and boric acid consumption peaked in 2021 and is likely to see gradual growth in the near future.

Exports of Oxides Of Boron and Boric Acids

Exports from Canada

In 2021, overseas shipments of oxides of boron and boric acids decreased by -0.5% to X tons, falling for the fifth consecutive year after three years of growth. In general, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of 164%. As a result, the exports attained the peak of X tons. From 2017 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. Over the period under review, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2016 when exports increased by 99%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for boron oxide and boric acid exports from Canada, with a 92% share of total exports. Moreover, boron oxide and boric acid exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -14.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+82.6% per year) and China (-84.4% per year).

In value terms, the United States ($X) remains the key foreign market for oxides of boron and boric acids exports from Canada, comprising 94% of total exports. The second position in the ranking was held by Mexico ($X), with a 4.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled -16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+78.3% per year) and China (-84.0% per year).

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, with an increase of 25% against the previous year. Overall, the export price, however, saw a noticeable curtailment. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico ($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 China (+2.2%), while the prices for the other major destinations experienced a decline.

Imports of Oxides Of Boron and Boric Acids

Imports into Canada

Boron oxide and boric acid imports into Canada soared to X tons in 2021, increasing by 33% on 2020. Over the period under review, imports recorded a resilient increase. The growth pace was the most rapid in 2016 when imports increased by 66% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, boron oxide and boric acid imports surged to $X in 2021. The total import value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of boron oxide and boric acid to Canada, with a 72% share of total imports. Moreover, boron oxide and boric acid imports from Turkey exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Peru (X tons) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+8.7% per year) and Peru (+17.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of oxides of boron and boric acids to Canada, comprising 59% of total imports. The second position in the ranking was held by the United States ($X), with a 25% share of total imports. It was followed by Peru, with a 3.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.6% per year) and Peru (+12.2% per year).

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, remaining constant against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 an increase of 47% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were the United States ($X per ton) and Argentina ($X per ton), while the price for Turkey ($X per ton) and Peru ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-4.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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