Middle East: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in the Middle East

The Middle Eastern market for oxides of boron and boric acids plummeted to $X in 2021, dropping by -28.8% against the previous year. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. 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 remained at a lower figure.

Production of Oxides Of Boron and Boric Acids in the Middle East

In value terms, boron oxide and boric acid production rose to $X in 2021 estimated in export price. Overall, production, however, saw a strong increase. The growth pace was the most rapid in 2018 with an increase of 152% against the previous year. 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 the Middle East

In 2021, shipments abroad of oxides of boron and boric acids was finally on the rise to reach X tons after three years of decline. Overall, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 151% against the previous year. As a result, the exports reached 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. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 171%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Turkey (X tons) was the major exporter of oxides of boron and boric acids, mixing up 68% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a 29% share of total exports.

Exports from Turkey increased at an average annual rate of +8.6% from 2012 to 2021. At the same time, the United Arab Emirates (+22.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +22.1% from 2012-2021. While the share of the United Arab Emirates (+18 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-5.4 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest boron oxide and boric acid supplier in the Middle East, comprising 83% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +8.3%.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, jumping by 25% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, 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 the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.3%).

Imports of Oxides Of Boron and Boric Acids

Imports in the Middle East

In 2021, approx. X tons of oxides of boron and boric acids were imported in the Middle East; dropping by -34.8% compared with 2020. In general, imports continue to indicate a noticeable setback. The growth pace was the most rapid in 2015 with an increase of 57% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, boron oxide and boric acid imports dropped sharply to $X in 2021. Over the period under review, imports saw a abrupt slump. The growth pace was the most rapid in 2013 when imports increased by 59%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the main importer of oxides of boron and boric acids in the Middle East, with the volume of imports resulting at X tons, which was approx. 48% of total imports in 2021. Israel (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Iran (13%) and Jordan (5.8%). Oman (X tons) and Qatar (X tons) held a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +6.5% from 2012 to 2021. At the same time, Qatar (+24.8%), Israel (+16.8%), Jordan (+15.3%) and Oman (+7.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +24.8% from 2012-2021. By contrast, Iran (-12.0%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+30 p.p.), Israel (+17 p.p.), Jordan (+4.7 p.p.), Qatar (+2.9 p.p.) and Oman (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Iran (-15.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported oxides of boron and boric acids in the Middle East, comprising 46% of total imports. The second position in the ranking was held by Israel ($X), with an 18% share of total imports. It was followed by Iran, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +5.4%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+11.9% per year) and Iran (-13.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, picking up by 12% against the previous year. Overall, the import price, however, showed a noticeable setback. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Qatar ($X per ton), while Jordan ($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 Arab Emirates (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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