Norway: Oxides Of Boron Market 2022

Oxides Of Boron Market Size in Norway

In 2021, the Norwegian oxides of boron market increased by 23% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Oxides Of Boron Exports

Exports from Norway

In 2021, shipments abroad of oxides of boron, boric acids and inorganic acids decreased by -81.8% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 105% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, oxides of boron exports contracted rapidly to $X in 2021. Over the period under review, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 111%. Over the period under review, the exports attained the peak figure at $X in 2020, and then dropped remarkably in the following year.

Exports by Country

The United States (X tons) was the main destination for oxides of boron exports from Norway, with a 55% share of total exports. Moreover, oxides of boron exports to the United States exceeded the volume sent to the second major destination, Denmark (X kg), fourfold. The third position in this ranking was taken by Turkey (X kg), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+53.4% per year) and Turkey (-9.0% per year).

In value terms, Denmark ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest markets for oxides of boron exported from Norway worldwide, together comprising 31% of total exports.

Among the main countries of destination, Denmark, with a CAGR of +53.4%, recorded 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 2021, the average oxides of boron export price amounted to $X per ton, increasing by 178% against the previous year. In general, the export price showed significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+65.3%), while the prices for the other major destinations experienced more modest paces of growth.

Oxides Of Boron Imports

Imports into Norway

In 2021, supplies from abroad of oxides of boron, boric acids and inorganic acids decreased by -9.6% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, oxides of boron imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 38% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Germany (X tons) and China (X tons) were the main suppliers of oxides of boron imports to Norway, together comprising 78% of total imports. These countries were followed by Spain, Denmark, the Netherlands and Sweden, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +326.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest oxides of boron suppliers to Norway were Indonesia ($X), China ($X) and Germany ($X), together accounting for 64% of total imports. These countries were followed by Denmark, Spain, the Netherlands and Sweden, which together accounted for a further 24%.

Among the main suppliers, Spain, with a CAGR of +303.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average oxides of boron import price amounted to $X per ton, surging by 47% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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