India: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in India

In 2021, the Indian market for oxides of boron and boric acids increased by 81% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption, however, recorded a abrupt decline. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Exports of Oxides Of Boron and Boric Acids

Exports from India

In 2021, after two years of growth, there was significant decline in shipments abroad of oxides of boron and boric acids, when their volume decreased by -28.6% to X tons. Over the period under review, total exports indicated a mild increase from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +15.7% against 2018 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 46% against the previous year. The exports peaked at X tons in 2020, and then declined dramatically in the following year.

In value terms, boron oxide and boric acid exports expanded sharply to $X in 2021. Overall, total exports indicated a prominent increase 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, exports increased by +32.1% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 29% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Nigeria (X tons) was the main destination for boron oxide and boric acid exports from India, with a 26% share of total exports. Moreover, boron oxide and boric acid exports to Nigeria exceeded the volume sent to the second major destination, Nepal (X tons), twofold. Bangladesh (X tons) ranked third in terms of total exports with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Nigeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+11.9% per year) and Bangladesh (+62.2% per year).

In value terms, Nigeria ($X) remains the key foreign market for oxides of boron and boric acids exports from India, comprising 24% of total exports. The second position in the ranking was taken by the United States ($X), with a 10% share of total exports. It was followed by Nepal, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Nigeria amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.9% per year) and Nepal (+21.0% per year).

Export Prices by Country

In 2021, the average export price for oxides of boron and boric acids amounted to $X per ton, picking up by 60% against the previous year. In general, export price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports into India

In 2021, overseas purchases of oxides of boron and boric acids increased by 30% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 55% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, boron oxide and boric acid imports soared to $X in 2021. Overall, imports, however, saw a abrupt slump. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest boron oxide and boric acid supplier to India, accounting for a 72% share of total imports. Moreover, boron oxide and boric acid imports from Turkey exceeded the figures recorded by the second-largest supplier, Singapore (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+176.4% per year) and the United States (-27.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of oxides of boron and boric acids to India, comprising 64% of total imports. The second position in the ranking was held by Singapore ($X), with a 15% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+129.7% per year) and China (+6.3% per year).

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, rising by 20% against the previous year. In general, the import price, however, recorded a pronounced setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Peru ($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 (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :