Vietnam: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in Vietnam

The Vietnamese oxides of boron market declined notably to $X in 2022, reducing by -90.2% 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). In general, consumption continues to indicate a deep contraction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Oxides Of Boron Exports

Exports from Vietnam

In 2022, overseas shipments of oxides of boron, boric acids and inorganic acids increased by 461% to X tons, rising for the second consecutive year after four years of decline. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 636% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, oxides of boron exports soared to $X in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 712%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for oxides of boron exports from Vietnam, accounting for a 68% share of total exports. Moreover, oxides of boron exports to China exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fivefold. Cambodia (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +50.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+82.5% per year) and Cambodia (+13.7% per year).

In value terms, China ($X) remains the key foreign market for oxides of boron, boric acids and inorganic acids exports from Vietnam, comprising 80% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 10% share of total exports. It was followed by Cambodia, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at +50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+94.3% per year) and Cambodia (+21.4% per year).

Export Prices by Country

In 2022, the average oxides of boron export price amounted to $X per ton, rising by 29% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.3% 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 +42.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 38%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Myanmar ($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 Cambodia (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.

Oxides Of Boron Imports

Imports into Vietnam

In 2022, approx. X tons of oxides of boron, boric acids and inorganic acids were imported into Vietnam; reducing by -83.4% compared with the year before. Overall, imports continue to indicate a deep slump. The growth pace was the most rapid in 2016 with an increase of 111%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, oxides of boron imports reduced sharply to $X in 2022. Over the period under review, imports recorded a pronounced shrinkage. The growth pace was the most rapid in 2016 with an increase of 121%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X tons), Peru (X tons) and Turkey (X tons) were the main suppliers of oxides of boron imports to Vietnam, together accounting for 61% of total imports. The United States, Russia, South Korea, Thailand and Japan lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +23.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of oxides of boron, boric acids and inorganic acids to Vietnam, comprising 34% of total imports. The second position in the ranking was held by Peru ($X), with a 16% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+2.9% per year) and the United States (-16.6% per year).

Import Prices by Country

The average oxides of boron import price stood at $X per ton in 2022, picking up by 51% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 +70.3% against 2020 indices. 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 Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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