Egypt: Borates Market 2024

Borates Market Size in Egypt

After two years of growth, the Egyptian borates market decreased by -2.9% to $X in 2022. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.1% against 2019 indices. Borates consumption peaked at $X in 2021, and then fell in the following year.

Borates Exports

Exports from Egypt

In 2022, the amount of borates exported from Egypt shrank rapidly to X tons, which is down by -50% compared with the previous year. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 1,642% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank significantly in the following year.

In value terms, borates exports fell significantly to $X in 2022. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2021 when exports increased by 728% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Djibouti (X tons) was the main destination for borates exports from Egypt, with a 71% share of total exports. Moreover, borates exports to Djibouti exceeded the volume sent to the second major destination, Kuwait (X tons), fourfold. Libya (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Djibouti totaled +107.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+5.5% per year) and Libya (+6.9% per year).

In value terms, Djibouti ($X) emerged as the key foreign market for borates exports from Egypt, comprising 68% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 19% share of total exports. It was followed by Libya, with a 4.8% share.

From 2012 to 2022, the average annual growth rate of value to Djibouti totaled +269.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+14.1% per year) and Libya (+6.8% per year).

Export Prices by Country

The average borates export price stood at $X per ton in 2022, surging by 34% against the previous year. Over the period under review, the export price continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2013 when the average export price increased by 2,095%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Djibouti ($X per ton) and Saudi Arabia ($X per ton), while the average price for exports to Kuwait ($X per ton) and Libya ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Djibouti (+77.7%), while the prices for the other major destinations experienced more modest paces of growth.

Borates Imports

Imports into Egypt

In 2022, overseas purchases of borates decreased by -5.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 82% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then declined in the following year.

In value terms, borates imports dropped slightly to $X in 2022. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 69%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of borates to Egypt, with a 88% share of total imports. Moreover, borates imports from Turkey exceeded the figures recorded by the second-largest supplier, Argentina (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+39.8% per year) and the United States (+9.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of borates to Egypt, comprising 85% of total imports. The second position in the ranking was taken by the United States ($X), with a 5.6% share of total imports. It was followed by Argentina, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.5% per year) and Argentina (+29.5% per year).

Import Prices by Country

In 2022, the average borates import price amounted to $X per ton, picking up by 4% against the previous year. In general, the import price, however, recorded a deep slump. The growth pace was the most rapid in 2015 when the average import price increased by 32%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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