Luxembourg: Borates Market 2024

Borates Market Size in Luxembourg

In 2022, the Luxembourg borates market decreased by -27.1% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption showed a abrupt shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Borates Production in Luxembourg

In value terms, borates production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 7.2%. Borates production peaked at $X in 2015; afterwards, it flattened through to 2022.

Borates Exports

Exports from Luxembourg

For the fifth consecutive year, Luxembourg recorded growth in shipments abroad of borates, which increased by 1,043% to X tons in 2022. Overall, exports showed significant growth. The growth pace was the most rapid in 2016 when exports increased by 4,238% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, borates exports soared to $X in 2022. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 14,234% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons), Mexico (X tons) and France (X tons) were the main destinations of borates exports from Luxembourg, with a combined 99.9% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +7,724.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for borates exported from Luxembourg were France ($X), Mexico ($X) and the UK ($X), together accounting for 99.9% of total exports.

Mexico, with a CAGR of +22,712.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average borates export price stood at $X per ton in 2022, reducing by -61.1% against the previous year. In general, the export price, however, posted slight growth. The most prominent rate of growth was recorded in 2013 an increase of 1,038%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the UK ($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 Mexico (+191.6%), while the prices for the other major destinations experienced a decline.

Borates Imports

Imports into Luxembourg

In 2022, after three years of decline, there was significant growth in overseas purchases of borates, when their volume increased by 65% to X tons. In general, imports, however, saw a sharp descent. The pace of growth was the most pronounced in 2018 with an increase of 2,649% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, borates imports skyrocketed to $X in 2022. Overall, imports, however, showed a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 1,165% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of borates to Luxembourg, with a 74% share of total imports. Moreover, borates imports from Italy exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +102.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-13.0% per year) and Turkey (-65.9% per year).

In value terms, Italy ($X) constituted the largest supplier of borates to Luxembourg, comprising 80% of total imports. The second position in the ranking was held by Belgium ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled +57.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-15.3% per year) and Turkey (-62.6% per year).

Import Prices by Country

In 2022, the average borates import price amounted to $X per ton, with an increase of 17% against the previous year. Overall, the import price continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2016 an increase of 231%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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