Canada: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in Canada

In 2022, the Canadian oxides of boron market increased by 0.1% to $X, rising for the second year in a row after three years of decline. In general, consumption recorded a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Oxides Of Boron Exports

Exports from Canada

In 2022, shipments abroad of oxides of boron, boric acids and inorganic acids increased by 172% to X tons, rising for the second year in a row after four years of decline. In general, exports continue to indicate a strong expansion. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, oxides of boron exports skyrocketed to $X in 2022. Overall, exports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2016 when exports increased by 93% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for oxides of boron exports from Canada, accounting for a 91% share of total exports. Moreover, oxides of boron exports to the United States exceeded the volume sent to the second major destination, Mexico (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+62.1% per year) and China (-83.1% per year).

In value terms, the United States ($X) remains the key foreign market for oxides of boron, boric acids and inorganic acids exports from Canada, comprising 92% of total exports. The second position in the ranking was held by Mexico ($X), with a 3.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+37.7% per year) and China (-77.7% per year).

Export Prices by Country

The average oxides of boron export price stood at $X per ton in 2022, falling by -37.4% against the previous year. In general, the export price, however, showed a moderate increase. The pace of growth was the most pronounced in 2020 an increase of 77% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($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 China (+31.3%), while the prices for the other major destinations experienced mixed trend patterns.

Oxides Of Boron Imports

Imports into Canada

Oxides of boron imports into Canada shrank modestly to X tons in 2022, reducing by -4.8% against 2021 figures. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, oxides of boron imports soared to $X in 2022. The total import value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 38%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of oxides of boron to Canada, with a 57% share of total imports. Moreover, oxides of boron imports from Turkey exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.4% per year) and Spain (+194.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of oxides of boron, boric acids and inorganic acids to Canada, comprising 46% of total imports. The second position in the ranking was taken by the United States ($X), with a 19% share of total imports. It was followed by China, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-4.9% per year) and China (+15.6% per year).

Import Prices by Country

The average oxides of boron import price stood at $X per ton in 2022, growing by 28% against the previous year. Overall, the import price, however, continues to indicate a slight slump. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 Taiwan (Chinese) (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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