Mexico: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Mexico

The Mexican market for oxides of boron and boric acids rose rapidly to $X in 2021, growing by 7.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a mild descent. The pace of growth appeared the most rapid in 2017 with an increase of 9.7% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports from Mexico

In 2021, the amount of oxides of boron and boric acids exported from Mexico soared to X tons, jumping by 2,112% against the previous year. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 5,673% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, boron oxide and boric acid exports skyrocketed to $X in 2021. Over the period under review, exports recorded buoyant growth. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Panama (X tons) and the UK (X kg) were the main destinations of boron oxide and boric acid exports from Mexico, with a combined 86% share of total exports. These countries were followed by Honduras, Guatemala and Belize, which together accounted for a further 7.1%.

From 2012 to 2021, the biggest increases were recorded for Belize (with a CAGR of +75.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for boron oxide and boric acid exported from Mexico were the UK ($X), the United States ($X) and Honduras ($X), with a combined 72% share of total exports. These countries were followed by Panama, Guatemala and Belize, which together accounted for a further 13%.

Belize, with a CAGR of +75.9%, saw the highest rates of growth with regard to the value of exports, among 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 export price for oxides of boron and boric acids stood at $X per ton in 2021, jumping by 41% against the previous year. Overall, the export price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2020 an increase of 156% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Panama ($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 the UK (+163.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports into Mexico

In 2021, the amount of oxides of boron and boric acids imported into Mexico stood at X tons, surging by 12% against the previous year. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, boron oxide and boric acid imports expanded notably to $X in 2021. Over the period under review, imports, however, saw a pronounced slump. The growth pace was the most rapid in 2017 when imports increased by 10% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of boron oxide and boric acid to Mexico, accounting for a 50% share of total imports. Moreover, boron oxide and boric acid imports from the United States exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Peru (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.6% per year) and Peru (+1.9% per year).

In value terms, the United States ($X) constituted the largest supplier of oxides of boron and boric acids to Mexico, comprising 57% of total imports. The second position in the ranking was held by Turkey ($X), with a 21% share of total imports. It was followed by Peru, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+13.6% per year) and Peru (-2.5% per year).

Import Prices by Country

In 2021, the average import price for oxides of boron and boric acids amounted to $X per ton, with a decrease of -5.4% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The growth pace was the most rapid in 2014 when the average import price increased by 8.3% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :