Saudi Arabia: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Saudi Arabia

In 2021, the Saudi market for oxides of boron and boric acids decreased by -13.4% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, saw a prominent increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Oxides Of Boron and Boric Acids in Saudi Arabia

In value terms, boron oxide and boric acid production expanded notably to $X in 2021 estimated in export price. In general, production saw a noticeable decrease. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports from Saudi Arabia

In 2021, shipments abroad of oxides of boron and boric acids increased by 22% to X tons, rising for the third consecutive year after five years of decline. Overall, exports, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 348% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, boron oxide and boric acid exports shrank to $X in 2021. In general, exports saw temperate growth. The most prominent rate of growth was recorded in 2020 when exports increased by 214%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for boron oxide and boric acid exports from Saudi Arabia, with a 86% share of total exports. Moreover, boron oxide and boric acid exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +113.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-21.6% per year) and Tunisia (0.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for oxides of boron and boric acids exports from Saudi Arabia, comprising 66% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +96.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (-13.9% per year) and Tunisia (0.0% per year).

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, reducing by -22.8% against the previous year. In general, the export price, however, showed a measured increase. The most prominent rate of growth was recorded in 2018 an increase of 47%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Tunisia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Bahrain (+9.8%).

Imports of Oxides Of Boron and Boric Acids

Imports into Saudi Arabia

In 2017, after two years of growth, there was significant decline in purchases abroad of oxides of boron and boric acids, when their volume decreased by -23.1% to X tons. Overall, total imports indicated a perceptible expansion from 2012 to 2017: its volume increased at an average annual rate of +4.9% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 65% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016, and then fell dramatically in the following year.

In value terms, boron oxide and boric acid imports dropped markedly to $X in 2017. Over the period under review, imports saw a perceptible curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 45%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2017, imports failed to regain momentum.

Imports by Country

The United States (X tons) and Turkey (X tons) were the main suppliers of boron oxide and boric acid imports to Saudi Arabia.

From 2012 to 2017, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +25.2%).

In value terms, the largest boron oxide and boric acid suppliers to Saudi Arabia were the United States ($X) and Turkey ($X).

Turkey, with a CAGR of +16.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2017, reducing by -5.3% against the previous year. Over the period under review, the import price recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the average import price decreased by -1.9% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2017, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2017, the countries with the highest prices were Turkey ($X per ton) and the United States ($X per ton), while the price for Peru ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2017, the most notable rate of growth in terms of prices was attained by Peru (-7.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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