Peru: Borates Market 2024

Borates Market Size in Peru

The Peruvian borates market skyrocketed to $X in 2022, rising by 144% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Borates Production in Peru

In value terms, borates production reached $X in 2022 estimated in export price. Overall, production, however, showed a slight setback. The growth pace was the most rapid in 2017 when the production volume increased by 106%. Borates production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Borates Exports

Exports from Peru

Borates exports from Peru contracted to X tons in 2022, declining by -13.6% compared with the previous year's figure. In general, exports saw a perceptible slump. The pace of growth was the most pronounced in 2017 when exports increased by 23%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, borates exports surged to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), Brazil (X tons) and Honduras (X tons) were the main destinations of borates exports from Peru, with a combined 29% share of total exports. The United States, Colombia, Vietnam, New Zealand, South Africa, Poland, Spain, Pakistan, Costa Rica and Ecuador lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +45.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Brazil ($X) and the United States ($X) constituted the largest markets for borates exported from Peru worldwide, together comprising 34% of total exports. South Africa, Colombia, Poland, Spain, Vietnam, New Zealand, Pakistan, Costa Rica, Ecuador and Honduras lagged somewhat behind, together accounting for a further 26%.

Among the main countries of destination, Pakistan, with a CAGR of +50.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average borates export price stood at $X per ton in 2022, with an increase of 44% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, borates export price increased by +67.8% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Borates Imports

Imports into Peru

In 2022, supplies from abroad of borates increased by 12% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 113%. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, borates imports amounted to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 78% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Bolivia (X tons), Argentina (X tons) and Turkey (X tons) were the main suppliers of borates imports to Peru, together comprising 85% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Bolivia ($X) and Turkey ($X) constituted the largest borates suppliers to Peru, with a combined 72% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +34.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average borates import price amounted to $X per ton, declining by -7.2% against the previous year. Overall, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of 10%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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