United Kingdom: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in the UK

In 2022, the UK oxides of boron market increased by 36% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption showed a noticeable decrease. Oxides of boron consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Oxides Of Boron Production in the UK

In value terms, oxides of boron production shrank modestly to $X in 2022 estimated in export price. Overall, production faced a dramatic decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 81% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Oxides Of Boron Exports

Exports from the UK

In 2022, shipments abroad of oxides of boron, boric acids and inorganic acids increased by 282% to X tons, rising for the third consecutive year after two years of decline. In general, exports posted a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

Exports by Country

The Netherlands (X tons) was the main destination for oxides of boron exports from the UK, accounting for a 73% share of total exports. Moreover, oxides of boron exports to the Netherlands exceeded the volume sent to the second major destination, Ireland (X tons), eightfold. The third position in this ranking was taken by Turkey (X tons), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +96.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+17.4% per year) and Turkey (+44.3% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for oxides of boron, boric acids and inorganic acids exports from the UK, comprising 62% of total exports. The second position in the ranking was taken by Ireland ($X), with a 4.7% share of total exports. It was followed by Turkey, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands stood at +86.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+14.2% per year) and Turkey (+43.9% per year).

Export Prices by Country

In 2022, the average oxides of boron export price amounted to $X per ton, waning by -18.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Ireland ($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 China (+27.3%), while the prices for the other major destinations experienced mixed trend patterns.

Oxides Of Boron Imports

Imports into the UK

In 2022, purchases abroad of oxides of boron, boric acids and inorganic acids increased by 16% to X tons for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 19% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, oxides of boron imports surged to $X in 2022. Overall, imports enjoyed a moderate expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest oxides of boron supplier to the UK, accounting for a 45% share of total imports. Moreover, oxides of boron imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.9% per year) and Germany (+11.9% per year).

In value terms, China ($X), Turkey ($X) and Germany ($X) appeared to be the largest oxides of boron suppliers to the UK, with a combined 68% share of total imports. The United States, Indonesia, the Netherlands, Israel, Peru, Taiwan (Chinese) and Belgium lagged somewhat behind, together comprising a further 23%.

Indonesia, with a CAGR of +16.5%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average oxides of boron import price amounted to $X per ton, with an increase of 72% against the previous year. In general, import price indicated a tangible 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 import price increased by +112.0% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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