South Africa: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in South Africa

The South African market for oxides of boron and boric acids amounted to $X in 2021, picking up by 4.8% 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 continues to indicate a mild descent. 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 South Africa

In 2021, approx. X tons of oxides of boron and boric acids were exported from South Africa; jumping by 19% against the previous year's figure. Over the period under review, total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.9% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 69%. As a result, the exports attained the peak of X tons. From 2014 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. Overall, exports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2017 with an increase of 35%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Zimbabwe (X tons) was the main destination for boron oxide and boric acid exports from South Africa, with a 45% share of total exports. Moreover, boron oxide and boric acid exports to Zimbabwe exceeded the volume sent to the second major destination, Zambia (X tons), twofold. The third position in this ranking was held by Namibia (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Zimbabwe amounted to +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (+3.5% per year) and Namibia (+21.5% per year).

In value terms, Zimbabwe ($X) remains the key foreign market for oxides of boron and boric acids exports from South Africa, comprising 42% of total exports. The second position in the ranking was held by Zambia ($X), with a 20% share of total exports. It was followed by Namibia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Zimbabwe amounted to +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Zambia (-4.0% per year) and Namibia (+21.4% per year).

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, rising by 7.5% against the previous year. Overall, the export price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2017 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Belgium ($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 the UK (+7.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Oxides Of Boron and Boric Acids

Imports into South Africa

Boron oxide and boric acid imports into South Africa contracted to X tons in 2021, which is down by -10.9% compared with the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 70%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, boron oxide and boric acid imports rose notably to $X in 2021. Over the period under review, imports continue to indicate a slight curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 42%. 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

In 2021, Turkey (X tons) constituted the largest boron oxide and boric acid supplier to South Africa, with a 50% share of total imports. Moreover, boron oxide and boric acid imports from Turkey exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Peru (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.8% per year) and Peru (+8.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of oxides of boron and boric acids to South Africa, comprising 41% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by the United States, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+8.1% per year) and the United States (-1.4% per year).

Import Prices by Country

In 2021, the average import price for oxides of boron and boric acids amounted to $X per ton, rising by 24% against the previous year. Over the period under review, the import price, however, showed a mild reduction. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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