SADC: Borates Market 2024

Borates Market Size in SADC

The SADC borates market skyrocketed to $X in 2022, with an increase of 27% against the previous year. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +77.3% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Borates Production in SADC

In value terms, borates production fell dramatically to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt downturn. The growth pace was the most rapid in 2019 when the production volume increased by 183%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Borates Exports

Exports in SADC

In 2022, the amount of borates exported in SADC declined rapidly to X tons, which is down by -38.5% on 2021. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 220% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, borates exports dropped notably to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 223% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

South Africa dominates exports structure, amounting to X tons, which was approx. 85% of total exports in 2022. Mozambique (X tons) ranks second in terms of the total exports with a 9.4% share, followed by Zambia (4.8%).

Exports from South Africa increased at an average annual rate of +4.7% from 2012 to 2022. At the same time, Zambia (+43.0%) and Mozambique (+12.3%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +43.0% from 2012-2022. While the share of South Africa (+31 p.p.), Mozambique (+6.4 p.p.) and Zambia (+4.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest borates supplier in SADC, comprising 88% of total exports. The second position in the ranking was taken by Mozambique ($X), with an 8.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +1.9%. In the other countries, the average annual rates were as follows: Mozambique (+24.7% per year) and Zambia (+44.2% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, growing by 20% against the previous year. Over the period under review, the export price, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2019 an increase of 45%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Zambia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mozambique (+11.0%), while the other leaders experienced mixed trends in the export price figures.

Borates Imports

Imports in SADC

Borates imports reduced to X tons in 2022, shrinking by -4.9% on 2021 figures. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.8% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 41% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, borates imports surged to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.6% against 2018 indices. The growth pace was the most rapid in 2021 when imports increased by 31% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

South Africa prevails in imports structure, recording X tons, which was approx. 80% of total imports in 2022. Zimbabwe (X tons) ranks second in terms of the total imports with a 7.9% share, followed by Tanzania (5.6%).

Imports into South Africa increased at an average annual rate of +1.3% from 2012 to 2022. At the same time, Zimbabwe (+21.2%) and Tanzania (+11.6%) displayed positive paces of growth. Moreover, Zimbabwe emerged as the fastest-growing importer imported in SADC, with a CAGR of +21.2% from 2012-2022. From 2012 to 2022, the share of Zimbabwe and Tanzania increased by +6.4 and +3.2 percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported borates in SADC, comprising 76% of total imports. The second position in the ranking was taken by Zimbabwe ($X), with an 8.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at +1.9%. In the other countries, the average annual rates were as follows: Zimbabwe (+17.9% per year) and Tanzania (+17.6% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, increasing by 36% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Tanzania ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform