Overview of the Global Market for Oxides Of Boron and Boric Acids

Market Size for Oxides Of Boron and Boric Acids

In 2021, the global market for oxides of boron and boric acids increased by 6.4% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by 9% against the previous year. Global consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Oxides Of Boron and Boric Acids

In value terms, boron oxide and boric acid production fell modestly to $X in 2021 estimated in export price. In general, production, however, saw a slight curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Over the period under review, global production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports

In 2021, approx. X tons of oxides of boron and boric acids were exported worldwide; picking up by 8.8% against 2020. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 15%. The global exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, boron oxide and boric acid exports soared to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the global exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States was the largest exporting country with an export of about X tons, which finished at 45% of total exports. It was distantly followed by Chile (X tons), Russia (X tons), the Netherlands (X tons) and Peru (X tons), together comprising a 44% share of total exports. Argentina (X tons) and Latvia (X tons) followed a long way behind the leaders.

Exports from the United States increased at an average annual rate of +4.4% from 2012 to 2021. At the same time, Latvia (+70.6%), the Netherlands (+50.4%), Russia (+3.3%) and Chile (+1.2%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in the world, with a CAGR of +70.6% from 2012-2021. Peru experienced a relatively flat trend pattern. By contrast, Argentina (-3.3%) illustrated a downward trend over the same period. While the share of the Netherlands (+9.1 p.p.), the United States (+5 p.p.) and Latvia (+1.8 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Argentina (-2.6 p.p.) and Chile (-2.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest boron oxide and boric acid supplier worldwide, comprising 44% of global exports. The second position in the ranking was held by Chile ($X), with a 13% share of global exports. It was followed by the Netherlands, with a 9.9% share.

In the United States, boron oxide and boric acid exports increased at an average annual rate of +1.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (-3.2% per year) and the Netherlands (+39.8% per year).

Export Prices by Country

In 2021, the average export price for oxides of boron and boric acids amounted to $X per ton, picking up by 7.9% against the previous year. Overall, the export price, however, showed a pronounced curtailment. The growth pace was the most rapid in 2020 an increase of 10% against the previous year. The global export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (-2.3%), while the other global leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports

In 2021, the amount of oxides of boron and boric acids imported worldwide skyrocketed to X tons, with an increase of 16% against 2020. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 22%. Global imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, boron oxide and boric acid imports skyrocketed to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. Over the period under review, global imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) represented the key importer of oxides of boron and boric acids, mixing up 33% of total imports. The United States (X tons) took a 5.7% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (5.5%), Brazil (5.4%), South Korea (5.4%) and the Netherlands (5.3%). France (X tons), Germany (X tons), Malaysia (X tons), Japan (X tons), Russia (X tons), Italy (X tons) and Spain (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to boron oxide and boric acid imports into China stood at +7.7%. At the same time, the Netherlands (+18.0%), Malaysia (+12.7%), Russia (+7.4%), Taiwan (Chinese) (+4.7%), France (+4.5%), Spain (+3.5%), Italy (+2.6%) and Brazil (+2.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +18.0% from 2012-2021. Germany and the United States experienced a relatively flat trend pattern. By contrast, South Korea (-1.0%) and Japan (-12.0%) illustrated a downward trend over the same period. China (+10 p.p.), the Netherlands (+3.7 p.p.) and Malaysia (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while the United States, South Korea and Japan saw its share reduced by -2%, -2.5% and -9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported oxides of boron and boric acids worldwide, comprising 30% of global imports. The second position in the ranking was held by South Korea ($X), with a 6% share of global imports. It was followed by Taiwan (Chinese), with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +3.3%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-2.9% per year) and Taiwan (Chinese) (+2.6% per year).

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, growing by 6.4% against the previous year. Overall, the import price, however, continues to indicate a noticeable reduction. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-1.7%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :