Cote d'Ivoire: Borates Market 2024

Borates Market Size in Cote d'Ivoire

The Cote d'Ivoire's borates market fell modestly to $X in 2022, approximately mirroring 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). Overall, consumption recorded a sharp curtailment. Borates consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Borates Exports

Exports from Cote d'Ivoire

In 2022, the amount of borates exported from Cote d'Ivoire contracted to X tons, dropping by -7.3% against 2021 figures. Overall, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 154% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, borates exports shrank sharply to $X in 2022. In general, exports, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2016 when exports increased by 57%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mali (X tons) was the main destination for borates exports from Cote d'Ivoire, with a 98% share of total exports. It was followed by Burkina Faso (X kg), with a 1.7% share of total exports. The third position in this ranking was taken by Liberia (X kg), with a 0.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mali amounted to +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+16.3% per year) and Liberia (-7.0% per year).

In value terms, Mali ($X) remains the key foreign market for borates exports from Cote d'Ivoire, comprising 97% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a 1.6% share of total exports. It was followed by Liberia, with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mali totaled +39.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (+15.7% per year) and Liberia (+1.0% per year).

Export Prices by Country

The average borates export price stood at $X per ton in 2022, with a decrease of -10.7% against the previous year. Over the period under review, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 16%. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Togo ($X per ton), while the average price for exports to Burkina Faso ($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 Togo (+17.5%), while the prices for the other major destinations experienced mixed trend patterns.

Borates Imports

Imports into Cote d'Ivoire

In 2022, imports of borates into Cote d'Ivoire declined markedly to X tons, waning by -15.2% on the year before. In general, imports showed a sharp shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 53%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, borates imports expanded remarkably to $X in 2022. Over the period under review, imports recorded a abrupt descent. The most prominent rate of growth was recorded in 2020 when imports increased by 53% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of borates to Cote d'Ivoire, with a 71% share of total imports. Moreover, borates imports from the United States exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was held by China (X tons), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-24.5% per year) and China (-14.0% per year).

In value terms, the United States ($X) constituted the largest supplier of borates to Cote d'Ivoire, comprising 61% of total imports. The second position in the ranking was held by Spain ($X), with a 21% share of total imports. It was followed by China, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-21.3% per year) and China (-4.0% per year).

Import Prices by Country

The average borates import price stood at $X per ton in 2022, picking up by 25% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.3% 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 +96.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 58% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform