Central Asia: Borates Market 2024

Borates Market Size in Central Asia

The Central Asian borates market rose significantly to $X in 2022, picking up by 7.8% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.3% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Borates Production in Central Asia

In value terms, borates production stood at $X in 2022 estimated in export price. Overall, production showed a buoyant increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 68%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Borates Exports

Exports in Central Asia

For the fifth consecutive year, Central Asia recorded growth in overseas shipments of borates, which increased by 6.9% to X tons in 2022. Over the period under review, exports, however, showed a pronounced reduction. The growth pace was the most rapid in 2016 with an increase of 316% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, borates exports surged to $X in 2022. In general, exports saw a strong expansion. The growth pace was the most rapid in 2019 with an increase of 432% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Kazakhstan dominates exports structure, amounting to X tons, which was approx. 98% of total exports in 2022. Uzbekistan (X kg) followed a long way behind the leaders.

Kazakhstan was also the fastest-growing in terms of the borates exports, with a CAGR of +15.5% from 2012 to 2022. Uzbekistan (-29.6%) illustrated a downward trend over the same period. Kazakhstan (+81 p.p.) and Uzbekistan (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) remains the largest borates supplier in Central Asia, comprising 98% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 2.3% share of total exports.

In Kazakhstan, borates exports increased at an average annual rate of +14.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, increasing by 71% against the previous year. Over the period under review, the export price posted a remarkable increase. The most prominent rate of growth was recorded in 2017 an increase of 104%. Over the period under review, the export prices hit record highs at $X per ton in 2019; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Kazakhstan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+3.6%).

Borates Imports

Imports in Central Asia

Borates imports skyrocketed to X tons in 2022, surging by 64% compared with 2021 figures. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2017 when imports increased by 275% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, borates imports surged to $X in 2022. Overall, imports saw a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 256% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Kazakhstan (X tons) and Uzbekistan (X tons) dominates imports structure, together achieving 95% of total imports. Kyrgyzstan (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +57.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest borates importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Kyrgyzstan ($X), together accounting for 99% of total imports.

Kyrgyzstan, with a CAGR of +34.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, with an increase of 22% against the previous year. Overall, the import price, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2013 when the import price increased by 31%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Uzbekistan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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