Mexico: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in Mexico

In 2022, after two years of decline, there was significant growth in the Mexican oxides of boron market, when its value increased by 29% to $X. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Oxides Of Boron Exports

Exports from Mexico

Oxides of boron exports from Mexico skyrocketed to X tons in 2022, with an increase of 18% against the year before. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.8% against 2018 indices. The pace of growth was the most pronounced in 2020 when exports increased by 38% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, oxides of boron exports reached $X in 2022. Overall, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for oxides of boron exports from Mexico, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +9.3%.

In value terms, the United States ($X) also remains the key foreign market for oxides of boron, boric acids and inorganic acids exports from Mexico.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -7.3%.

Export Prices by Country

In 2022, the average oxides of boron export price amounted to $X per ton, falling by -14.5% against the previous year. In general, the export price saw a abrupt downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 23%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Cuba amounted to +12.4% per year.

Oxides Of Boron Imports

Imports into Mexico

After two years of decline, overseas purchases of oxides of boron, boric acids and inorganic acids increased by 9.2% to X tons in 2022. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 28% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, oxides of boron imports surged to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of oxides of boron to Mexico, accounting for a 57% share of total imports. Moreover, oxides of boron imports from the United States exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+20.7% per year) and China (+9.8% per year).

In value terms, the largest oxides of boron suppliers to Mexico were the United States ($X), China ($X) and Turkey ($X), together accounting for 98% of total imports.

Turkey, with a CAGR of +20.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average oxides of boron import price stood at $X per ton in 2022, growing by 26% against the previous year. In general, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oxides of boron import price increased by +108.5% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 48%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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