Turkey Is the Leading Consumer on the Global Borates Market

IndexBox has just published a new report "World: Borates - Market Report. Analysis And Forecast To •••". Here is a summary of the report’s key findings.

In 2016, Global Borate Consumption Kept the Level of the Previous Year

Borates are used in the production of glass, ceramics, agriculture, detergents and bleaches. From 2007 to 2016, global borate consumption displayed a mixed dynamic. Between 2015 and 2016, global borate market remained relatively stable. As of the end of 2016, the global borate market stood at ••• thousand tonnes. In value terms, a significant drop in 2012 was followed by recovery over the next two years, until the market slipped back again. According to IndexBox estimates, in 2016 the global borate market value dropped by •••% to ••• million USD.

Turkey Was The Leading Global Consumer Country of Borates

Turkey (••• thousand tonnes), China (••• thousand tonnes), the United States (••• thousand tonnes) and Argentina (••• thousand tonnes) were the countries with the highest consumption, together accounting for almost •••% of global figures. In terms of the key consumer countries in 2016, Turkey (••• kg per year), Argentina (••• kg per year) and the United States (••• kg per year) registered a per capita consumption figure higher than the global average of ••• kg per year, while China (••• kg per year) recorded the lowest.

In the Medium Term, the Borates Market Is Set to Continue Modest Growth

In the medium-term perspective, the development of the world borate market will be affected by the state of the borate-consuming industries, primarily, construction and industrial sectors. It is expected that during 2016-•••, consumption of borates will continue to grow at an average annual growth rate of +•••% spurred by strong demand in construction, ceramic, and glass markets mainly in Asia and South America.

Global Borates Output Saw a Moderate Increase

Production of borates amounted to ••• thousand tonnes in 2016 with notable fluctuations over the last few years. A perseptible drop in 2015 was followed by •••% growth in 2016. In value terms, global production of borates was estimated at ••• million USD.

Turkey was the key world borates producing country with an output of about ••• thousand tonnes in 2016, which accounted for •••% of the global output. The other major producers were the United States (•••%), Argentina (•••%), Peru (•••%), and Chile (•••%). 

Approx. •••% of Borates Produced World-wide Was Sent for Export

Borates are a widely traded commodity, with the share of exports in total global output standing at about •••% in 2016. A high trade intensity is determined mainly by the geographical differenciation between the main countries that manufacture borates, and the key consuming countries. 

The world borates trade is expected to grow, but with annual growth slowing, due to only the modest demand expansion, the softening growth of borates production and increasing domestic demand in some of the major exporting countries.

Turkey, the U.S. and Bolivia Were the Main Exporters of Borates

In 2016, the volume of global exports totaled ••• thousand tonnes, with a •••% growth over the last year. After a decline by •••% in 2009, export surged by •••% and continued to grow at a more moderate growth pace, until it dropped again in 2015. 

Turkey (•••% of global exports), the United States (•••%) and Bolivia (•••%) were the main global suppliers of borates in 2016. From 2007 to 2016, Turkey (+•••% per year) and Bolivia (+•••% per year) were the fastest growing suppliers among the major exporters. Turkey (+••• percentage points) and Bolivia (+••• percentage points) increased their shares, while the United States saw its share reduced by -••• percentage points.

China Increased Its Imports of Borates Twofold over the Last Nine Years

The volume of global imports totaled ••• thousand tonnes in 2016. Imports dynamics was generally in line with exports: these trade flows globally complement each other. Following the high trade intensity, the share of imports in global demand accounted for about •••%.

In 2016, China (••• thousand tonnes) was the leading destination of borates imports, making up •••% of global imports in physical terms. It was followed by the United States (•••%), Brazil (•••%), India (•••%) and Malaysia (•••%). Among the major importing countries the United States (+•••% per year), Malaysia (+•••%), China (+•••%) and India (+•••% per year) gained the highest annual growth rates between 2007 and 2016. The shares of China (+••• percentage points) and the United States (+••• percentage points) increased significantly between 2007 and 2016. 

Do you want to know more about the global borates market? Get the latest trends and insight from our report. It includes a wide range of statistics on

• borates market share
• borates prices
• borates industry
• borates sales
• borates import
• borates export
• borates market forecast
• borates price forecast

Source: World: Borates - Market Report. Analysis And Forecast To •••