Latin America and the Caribbean: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Latin America and the Caribbean

The Latin American market for oxides of boron and boric acids expanded notably to $X in 2021, growing by 7.1% against the previous year. Overall, consumption recorded a relatively flat trend pattern. The level of consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Production of Oxides Of Boron and Boric Acids in Latin America and the Caribbean

In value terms, boron oxide and boric acid production declined modestly to $X in 2021 estimated in export price. In general, production showed a noticeable shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 0.7%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

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Exports of Oxides Of Boron and Boric Acids

Exports in Latin America and the Caribbean

In 2021, shipments abroad of oxides of boron and boric acids increased by 3.8% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 8.5% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, boron oxide and boric acid exports reached $X in 2021. In general, exports, however, saw a noticeable decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Chile was the main exporter of oxides of boron and boric acids in Latin America and the Caribbean, with the volume of exports recording X tons, which was near 64% of total exports in 2021. Peru (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (14%). Bolivia (X tons) followed a long way behind the leaders.

Chile was also the fastest-growing in terms of the oxides of boron and boric acids exports, with a CAGR of +1.2% from 2012 to 2021. Peru experienced a relatively flat trend pattern. Argentina (-3.3%) and Bolivia (-16.5%) illustrated a downward trend over the same period. Chile (+9.2 p.p.) and Peru (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Bolivia saw its share reduced by -4% and -7.5% from 2012 to 2021, respectively.

In value terms, Chile ($X) remains the largest boron oxide and boric acid supplier in Latin America and the Caribbean, comprising 61% of total exports. The second position in the ranking was held by Peru ($X), with a 22% share of total exports. It was followed by Argentina, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Chile totaled -3.2%. In the other countries, the average annual rates were as follows: Peru (-2.8% per year) and Argentina (-7.8% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 9.1% against the previous year. In general, the export price, however, showed a noticeable reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Peru ($X per ton) and Bolivia ($X per ton), while Chile ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (-1.5%), while the other leaders experienced a decline in the export price figures.

Imports of Oxides Of Boron and Boric Acids

Imports in Latin America and the Caribbean

In 2021, overseas purchases of oxides of boron and boric acids increased by 26% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 32%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, boron oxide and boric acid imports skyrocketed to $X in 2021. In general, imports, however, recorded a pronounced descent. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Brazil was the largest importing country with an import of about X tons, which accounted for 71% of total imports. Mexico (X tons) ranks second in terms of the total imports with an 11% share, followed by Colombia (5.3%). The following importers - Guatemala (X tons), Costa Rica (X tons) and Ecuador (X tons) - together made up 9% of total imports.

From 2012 to 2021, average annual rates of growth with regard to boron oxide and boric acid imports into Brazil stood at +2.1%. At the same time, Guatemala (+13.5%), Ecuador (+5.2%) and Costa Rica (+4.7%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +13.5% from 2012-2021. Colombia and Mexico experienced a relatively flat trend pattern. While the share of Guatemala (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-2.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported oxides of boron and boric acids in Latin America and the Caribbean, comprising 65% of total imports. The second position in the ranking was held by Mexico ($X), with a 16% share of total imports. It was followed by Colombia, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil stood at -2.4%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-2.2% per year) and Colombia (-3.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 3.3% against the previous year. In general, the import price, however, recorded a noticeable contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Mexico ($X per ton) and Colombia ($X per ton), while Brazil ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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