Denmark: Borates Market 2024

Borates Market Size in Denmark

In 2022, the Danish borates market increased by 19% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Borates Production in Denmark

In value terms, borates production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. Over the period under review, production reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Borates Exports

Exports from Denmark

In 2022, overseas shipments of borates decreased by -29.2% to X tons, falling for the second consecutive year after six years of growth. In general, exports saw a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 41% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, borates exports shrank remarkably to $X in 2022. Over the period under review, exports saw a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by 111% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped sharply in the following year.

Exports by Country

Norway (X tons) was the main destination for borates exports from Denmark, with a 60% share of total exports. Moreover, borates exports to Norway exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold. The third position in this ranking was taken by Finland (X tons), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume to Norway amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-26.3% per year) and Finland (-7.8% per year).

In value terms, Norway ($X) emerged as the key foreign market for borates exports from Denmark, comprising 69% of total exports. The second position in the ranking was taken by Finland ($X), with a 6.5% share of total exports. It was followed by Sweden, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to Norway amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-10.7% per year) and Sweden (-30.1% per year).

Export Prices by Country

In 2022, the average borates export price amounted to $X per ton, falling by -59.9% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 49%. The export price peaked at $X per ton in 2021, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Sweden ($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 Greenland (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Borates Imports

Imports into Denmark

In 2022, the amount of borates imported into Denmark dropped to X tons, waning by -1.9% against 2021. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when imports increased by 16% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, borates imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Finland (X tons) constituted the largest borates supplier to Denmark, with a 65% share of total imports. Moreover, borates imports from Finland exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Luxembourg (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Finland amounted to +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+91.1% per year) and Luxembourg (+96.5% per year).

In value terms, the largest borates suppliers to Denmark were Finland ($X), the Netherlands ($X) and Luxembourg ($X), with a combined 92% share of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +90.9%, recorded the highest rates of growth with regard to 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 2022, the average borates import price amounted to $X per ton, picking up by 22% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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