Turkey: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Turkey

In 2021, the Turkish market for oxides of boron and boric acids decreased by -34.1% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Oxides Of Boron and Boric Acids in Turkey

In value terms, boron oxide and boric acid production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 4.9%. Over the period under review, production attained the maximum level at $X in 2020, and then dropped slightly in the following year.

Exports of Oxides Of Boron and Boric Acids

Exports from Turkey

Boron oxide and boric acid exports from Turkey surged to X tons in 2021, rising by 131% against the previous year. Overall, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 146%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, boron oxide and boric acid exports soared to $X in 2021. In general, exports showed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 138%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Oman (X tons) were the main destinations of boron oxide and boric acid exports from Turkey, together comprising 67% of total exports. Sweden, South Korea, India and Canada lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +53.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for oxides of boron and boric acids exports from Turkey, comprising 46% of total exports. The second position in the ranking was taken by Sweden ($X), with an 11% share of total exports. It was followed by the United Arab Emirates, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +13.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+49.7% per year) and the United Arab Emirates (-2.4% per year).

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, remaining stable against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 7%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to the United Arab Emirates ($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 Iran (+4.8%), while the prices for the other major destinations experienced a decline.

Imports of Oxides Of Boron and Boric Acids

Imports into Turkey

In 2021, purchases abroad of oxides of boron and boric acids was finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a perceptible increase. The pace of growth was the most pronounced in 2016 with an increase of 100% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, boron oxide and boric acid imports surged to $X in 2021. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 43%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest boron oxide and boric acid supplier to Turkey, with a 62% share of total imports. Moreover, boron oxide and boric acid imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.6% per year) and Spain (+65.0% per year).

In value terms, Germany ($X) constituted the largest supplier of oxides of boron and boric acids to Turkey, comprising 77% of total imports. The second position in the ranking was taken by Spain ($X), with a 10% share of total imports. It was followed by Italy, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+59.9% per year) and Italy (+8.4% per year).

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, picking up by 9.8% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, boron oxide and boric acid import price increased by +56.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 54%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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