MENA: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in MENA

The MENA's market for oxides of boron and boric acids fell to $X in 2021, reducing by -13.6% against the previous year. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Oxides Of Boron and Boric Acids in MENA

In value terms, boron oxide and boric acid production expanded to $X in 2021 estimated in export price. Overall, production, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 152%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports in MENA

In 2021, overseas shipments of oxides of boron and boric acids were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports recorded prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 149% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, boron oxide and boric acid exports soared to $X in 2021. In general, exports posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 168% against the previous year. As a result, the exports attained the peak of $X; afterwards, it flattened through to 2021.

Exports by Country

Turkey (X tons) and Egypt (X tons) were the key exporters of oxides of boron and boric acids in 2021, accounting for near 40% and 35% of total exports, respectively. The United Arab Emirates (X tons) took the next position in the ranking, distantly followed by Tunisia (X tons). All these countries together held approx. 23% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Tunisia (with a CAGR of +110.9%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest boron oxide and boric acid supplier in MENA, comprising 70% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Egypt, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +8.3%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+14.6% per year) and Egypt (+66.0% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, dropping by -4.6% against the previous year. Over the period under review, the export price continues to indicate a noticeable decline. The growth pace was the most rapid in 2013 an increase of 13% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.3%), while the other leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports in MENA

In 2021, supplies from abroad of oxides of boron and boric acids was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated pronounced growth from 2012 to 2021: its volume 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. The most prominent rate of growth was recorded in 2017 with an increase of 41%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, boron oxide and boric acid imports surged to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 38%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Morocco prevails in imports structure, finishing at X tons, which was approx. 70% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons) and Egypt (X tons), together comprising an 18% share of total imports. Israel (X tons) and Iran (X tons) followed a long way behind the leaders.

Imports into Morocco increased at an average annual rate of +11.8% from 2012 to 2021. At the same time, Israel (+16.8%) and the United Arab Emirates (+6.5%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +16.8% from 2012-2021. By contrast, Egypt (-2.9%) and Iran (-12.0%) illustrated a downward trend over the same period. Morocco (+32 p.p.) and Israel (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Egypt and Iran saw its share reduced by -7.6% and -10% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) constitutes the largest market for imported oxides of boron and boric acids in MENA, comprising 64% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Egypt, with an 8.1% share.

In Morocco, boron oxide and boric acid imports increased at an average annual rate of +18.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.4% per year) and Egypt (-6.5% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, recorded a slight slump. The pace of growth was the most pronounced in 2013 when the import price increased by 11%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Iran ($X per ton) and the United Arab Emirates ($X per ton), while Morocco ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Morocco (+5.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform