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

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

The East European market for oxides of boron and boric acids skyrocketed to $X in 2021, increasing by 16% against the previous year. In general, consumption, however, saw a perceptible decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Oxides Of Boron and Boric Acids in Eastern Europe

In value terms, boron oxide and boric acid production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced downturn. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports in Eastern Europe

In 2021, exports of oxides of boron and boric acids in Eastern Europe amounted to X tons, with an increase of 5.6% against 2020. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when exports increased by 23% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, boron oxide and boric acid exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia was the key exporting country with an export of around X tons, which reached 87% of total exports. It was distantly followed by Latvia (X tons), creating an 11% share of total exports. Poland (X tons) took a little share of total exports.

Exports from Russia increased at an average annual rate of +3.3% from 2012 to 2021. At the same time, Latvia (+70.6%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +70.6% from 2012-2021. Poland experienced a relatively flat trend pattern. Latvia (+11 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -9.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest boron oxide and boric acid supplier in Eastern Europe, comprising 79% of total exports. The second position in the ranking was held by Latvia ($X), with a 15% share of total exports.

In Russia, boron oxide and boric acid exports decreased by an average annual rate of -2.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Latvia (+66.7% per year) and Poland (-1.5% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, increasing by 9.3% against the previous year. In general, the export price, however, recorded a drastic downturn. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-1.5%), while the other leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports in Eastern Europe

In 2021, the amount of oxides of boron and boric acids imported in Eastern Europe soared to X tons, with an increase of 21% compared with the year before. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.3% against 2013 indices. The pace of growth was the most pronounced in 2016 when imports increased by 23%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, boron oxide and boric acid imports soared to $X in 2021. Total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.3% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons), distantly followed by Latvia (X tons), Poland (X tons), Belarus (X tons), Ukraine (X tons), Lithuania (X tons) and the Czech Republic (X tons) represented the largest importers of oxides of boron and boric acids, together creating 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Latvia ($X) and Poland ($X) constituted the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. These countries were followed by Belarus, Ukraine, Lithuania and the Czech Republic, which together accounted for a further 36%.

Among the main importing countries, Lithuania, with a CAGR of +29.3%, saw the highest growth rate of 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 2021, the import price in Eastern Europe amounted to $X per ton, growing by 3.2% against the previous year. Overall, the import price, however, saw a noticeable setback. The growth pace was the most rapid in 2020 when the import price increased by 5.1%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Latvia ($X per ton) and the Czech Republic ($X per ton), while Russia ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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