MERCOSUR: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in MERCOSUR

In 2021, the MERCOSUR market for oxides of boron and boric acids increased by 8.8% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Oxides Of Boron and Boric Acids in MERCOSUR

In value terms, boron oxide and boric acid production reached $X in 2021 estimated in export price. In general, production recorded a noticeable curtailment. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports in MERCOSUR

For the third consecutive year, MERCOSUR recorded growth in shipments abroad of oxides of boron and boric acids, which increased by 1.6% to X tons in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by 11%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, boron oxide and boric acid exports rose notably to $X in 2021. Over the period under review, exports, however, showed a pronounced shrinkage. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Chile was the largest exporter of oxides of boron and boric acids in MERCOSUR, with the volume of exports accounting for X tons, which was near 65% of total exports in 2021. Peru (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (15%).

Chile was also the fastest-growing in terms of the oxides of boron and boric acids exports, with a CAGR of +1.2% from 2012 to 2021. Peru experienced a relatively flat trend pattern. Argentina (-3.3%) illustrated a downward trend over the same period. Chile (+4.9 p.p.) significantly strengthened its position in terms of the total exports, while Argentina saw its share reduced by -5.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest boron oxide and boric acid supplier in MERCOSUR, comprising 63% of total exports. The second position in the ranking was taken by Peru ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Chile amounted to -3.2%. In the other countries, the average annual rates were as follows: Peru (-2.8% per year) and Argentina (-7.8% per year).

Export Prices by Country

The export price in MERCOSUR stood at $X per ton in 2021, with an increase of 8.8% against the previous year. Overall, the export price, however, showed a pronounced curtailment. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Peru ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-3.5%), while the other leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports in MERCOSUR

In 2021, overseas purchases of oxides of boron and boric acids increased by 24% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. 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 surged to $X in 2021. Over the period under review, imports, however, saw a noticeable reduction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Brazil prevails in imports structure, reaching X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Colombia (X tons), comprising a 6.6% share of total imports. Ecuador (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to boron oxide and boric acid imports into Brazil stood at +2.1%. At the same time, Ecuador (+5.2%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +5.2% from 2012-2021. Colombia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Brazil increased by +1.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported oxides of boron and boric acids in MERCOSUR, comprising 86% of total imports. The second position in the ranking was held by Colombia ($X), with an 8% share of total imports.

In Brazil, boron oxide and boric acid imports contracted by an average annual rate of -2.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Colombia (-3.3% per year) and Ecuador (+0.1% per year).

Import Prices by Country

In 2021, the import price in MERCOSUR amounted to $X per ton, growing by 5.9% against the previous year. Over the period under review, the import price, however, recorded a noticeable reduction. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Colombia ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (-3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform