EU: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in the EU

For the third consecutive year, the EU market for oxides of boron and boric acids recorded growth in sales value, which increased by 18% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Oxides Of Boron and Boric Acids in the EU

In value terms, boron oxide and boric acid production stood at $X in 2021 estimated in export price. Over the period under review, production showed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 127%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Oxides Of Boron and Boric Acids

Exports in the EU

In 2021, the amount of oxides of boron and boric acids exported in the European Union skyrocketed to X tons, jumping by 25% against the previous year. Over the period under review, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, boron oxide and boric acid exports soared to $X in 2021. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by 76% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands represented the major exporter of oxides of boron and boric acids in the European Union, with the volume of exports reaching X tons, which was approx. 64% of total exports in 2021. Latvia (X tons) ranks second in terms of the total exports with a 12% share, followed by Germany (7.1%), Austria (5%) and Belgium (4.5%). The following exporters - France (X tons) and Spain (X tons) - each resulted at a 3.9% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to boron oxide and boric acid exports from the Netherlands stood at +50.4%. At the same time, Latvia (+70.6%), France (+50.2%), Germany (+23.0%), Austria (+15.3%) and Spain (+2.9%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +70.6% from 2012-2021. By contrast, Belgium (-18.3%) illustrated a downward trend over the same period. While the share of the Netherlands (+61 p.p.), Latvia (+12 p.p.), Germany (+5.1 p.p.), Austria (+2.4 p.p.) and France (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belgium (-47.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest boron oxide and boric acid supplier in the European Union, comprising 52% of total exports. The second position in the ranking was held by Germany ($X), with an 11% share of total exports. It was followed by Latvia, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands totaled +39.8%. In the other countries, the average annual rates were as follows: Germany (+11.7% per year) and Latvia (+66.7% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, picking up by 10% against the previous year. Overall, the export price, however, saw a pronounced decrease. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.1%), while the other leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports in the EU

In 2021, purchases abroad of oxides of boron and boric acids increased by 15% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 33%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, boron oxide and boric acid imports soared to $X in 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 24%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons), distantly followed by France (X tons), Germany (X tons), Italy (X tons), Spain (X tons), Latvia (X tons), Belgium (X tons) and Poland (X tons) represented the largest importers of oxides of boron and boric acids, together generating 86% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +18.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest boron oxide and boric acid importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), with a combined 51% share of total imports. Italy, Spain, Latvia, Belgium and Poland lagged somewhat behind, together accounting for a further 33%.

In terms of the main importing countries, Latvia, with a CAGR of +14.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, increasing by 7% against the previous year. In general, the import price, however, recorded a noticeable shrinkage. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Germany ($X per ton) and Latvia ($X per ton), while the Netherlands ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+3.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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