Singapore: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Singapore

The Singaporean market for oxides of boron and boric acids skyrocketed to $X in 2021, with an increase of 55% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a deep reduction. Boron oxide and boric acid consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports from Singapore

In 2021, overseas shipments of oxides of boron and boric acids were finally on the rise to reach X tons after four years of decline. Overall, exports, however, recorded a deep reduction. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, boron oxide and boric acid exports surged to $X in 2021. In general, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 521% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X tons), Malaysia (X tons) and Vietnam (X tons) were the main destinations of boron oxide and boric acid exports from Singapore, with a combined 80% share of total exports. These countries were followed by South Korea, the Philippines, Japan, Hong Kong SAR and Indonesia, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +53.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Thailand ($X) and Malaysia ($X) were the largest markets for boron oxide and boric acid exported from Singapore worldwide, with a combined 70% share of total exports. These countries were followed by Vietnam, the Philippines, Indonesia, Japan and Hong Kong SAR, which together accounted for a further 26%.

In terms of the main countries of destination, the Philippines, with a CAGR of +76.7%, saw the highest growth rate of 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 export price for oxides of boron and boric acids stood at $X per ton in 2021, reducing by -11.7% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 218% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per ton), while the average price for exports to Thailand ($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 Japan (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports into Singapore

Boron oxide and boric acid imports into Singapore surged to X tons in 2021, picking up by 53% on 2020 figures. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 57%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, boron oxide and boric acid imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt downturn. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Turkey (X tons) and Italy (X kg) were the main suppliers of boron oxide and boric acid imports to Singapore, together comprising 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +7.6%), while imports for the other leaders experienced a decline.

In value terms, the United States ($X), Turkey ($X) and Italy ($X) appeared to be the largest boron oxide and boric acid suppliers to Singapore, together accounting for 94% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +10.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for oxides of boron and boric acids amounted to $X per ton, surging by 5.6% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+26.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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