Eastern Asia: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Eastern Asia

The East Asian market for oxides of boron and boric acids rose remarkably to $X in 2021, picking up by 15% against the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Production of Oxides Of Boron and Boric Acids in Eastern Asia

In value terms, boron oxide and boric acid production dropped to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +59.6% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 40% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then fell in the following year.

Exports of Oxides Of Boron and Boric Acids

Exports in Eastern Asia

In 2021, approx. X tons of oxides of boron and boric acids were exported in Eastern Asia; picking up by 48% on the year before. Overall, exports, however, recorded a pronounced reduction. The growth pace was the most rapid in 2015 when exports increased by 146% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, boron oxide and boric acid exports surged to $X in 2021. Total exports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) represented the key exporter of oxides of boron and boric acids, mixing up 52% of total exports. It was distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons) and Japan (X tons), together comprising a 47% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +29.9%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest boron oxide and boric acid supplier in Eastern Asia, comprising 59% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 22% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+31.0% per year) and Japan (+13.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 1.5% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when the export price increased by 86%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports in Eastern Asia

In 2021, boron oxide and boric acid imports in Eastern Asia rose remarkably to X tons, with an increase of 10% against 2020. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 46% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, boron oxide and boric acid imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a mild decline. The pace of growth was the most pronounced in 2018 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main importer of oxides of boron and boric acids, mixing up 71% of total imports. Taiwan (Chinese) (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (12%) and Japan (6%).

China was also the fastest-growing in terms of the oxides of boron and boric acids imports, with a CAGR of +7.7% from 2012 to 2021. At the same time, Taiwan (Chinese) (+4.7%) displayed positive paces of growth. By contrast, South Korea (-1.0%) and Japan (-12.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +23 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported oxides of boron and boric acids in Eastern Asia, comprising 66% of total imports. The second position in the ranking was taken by South Korea ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +3.3%. In the other countries, the average annual rates were as follows: South Korea (-2.9% per year) and Taiwan (Chinese) (+2.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, picking up by 7.6% against the previous year. In general, the import price, however, showed a noticeable setback. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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