Brazil: Borates Market 2024

Borates Market Size in Brazil

In 2022, the Brazilian borates market increased by X% to $X, rising for the sixth year in a row after four years of decline. In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2016 indices. Borates consumption peaked in 2022 and is expected to retain growth in years to come.

Borates Exports

Exports from Brazil

In 2022, after two years of growth, there was significant decline in overseas shipments of borates, when their volume decreased by X% to X tons. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank sharply in the following year.

In value terms, borates exports declined notably to $X in 2022. Over the period under review, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at $X in 2021, and then declined markedly in the following year.

Exports by Country

Bolivia (X tons) was the main destination for borates exports from Brazil, with a X% share of total exports. Moreover, borates exports to Bolivia exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. Paraguay (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bolivia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Paraguay (X% per year).

In value terms, the largest markets for borates exported from Brazil were Bolivia ($X), Turkey ($X) and Paraguay ($X), together comprising X% of total exports. Taiwan (Chinese), Mexico, Argentina, Germany, Malaysia, Chile, Uruguay and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, saw 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 borates export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the Philippines ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Borates Imports

Imports into Brazil

For the fourth year in a row, Brazil recorded growth in supplies from abroad of borates, which increased by X% to X tons in 2022. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, borates imports surged to $X in 2022. Over the period under review, imports recorded a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Bolivia (X tons) constituted the largest supplier of borates to Brazil, accounting for a X% share of total imports. Moreover, borates imports from Bolivia exceeded the figures recorded by the second-largest supplier, Argentina (X tons), twofold. Chile (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bolivia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (X% per year) and Chile (X% per year).

In value terms, the largest borates suppliers to Brazil were Argentina ($X), Bolivia ($X) and Chile ($X), with a combined X% share of total imports. Turkey, the United States and Peru lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 borates import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price continues to indicate slight growth. As a result, import price reached 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 Turkey ($X per ton), while the price for Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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