Turkey: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in Turkey

In 2022, the Turkish oxides of boron market increased by 565% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption enjoyed significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Oxides Of Boron Production in Turkey

In value terms, oxides of boron production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 47%. Oxides of boron production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Oxides Of Boron Exports

Exports from Turkey

In 2022, the amount of oxides of boron, boric acids and inorganic acids exported from Turkey surged to X tons, increasing by 92% compared with 2021 figures. Over the period under review, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 145%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, oxides of boron exports soared to $X in 2022. In general, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of oxides of boron exports from Turkey, with a combined 61% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +187.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), South Korea ($X) and Japan ($X) appeared to be the largest markets for oxides of boron exported from Turkey worldwide, together accounting for 65% of total exports.

In terms of the main countries of destination, Japan, with a CAGR of +175.5%, recorded the highest rates of growth with regard to 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

In 2022, the average oxides of boron export price amounted to $X per ton, surging by 39% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, oxides of boron export price increased by +57.5% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Oxides Of Boron Imports

Imports into Turkey

Oxides of boron imports into Turkey fell slightly to X tons in 2022, declining by -2.1% on the year before. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.9% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 69%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, oxides of boron imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest oxides of boron supplier to Turkey, with a 74% share of total imports. Moreover, oxides of boron imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was held by Russia (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+113.6% per year) and Russia (+102.2% per year).

In value terms, China ($X) constituted the largest supplier of oxides of boron, boric acids and inorganic acids to Turkey, comprising 79% of total imports. The second position in the ranking was held by Russia ($X), with a 4.9% share of total imports. It was followed by Germany, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+84.2% per year) and Germany (+5.0% per year).

Import Prices by Country

The average oxides of boron import price stood at $X per ton in 2022, jumping by 68% against the previous year. Overall, the import price posted prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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