Yahoo Finance Borates Market Report: Global Production, Consumption, Trends and Forecast to 2030 - IndexBox
NEW YORK, April 19, 2022 (GLOBE NEWSWIRE) -- Companies Mentioned in the Report: Rio Tinto, American Borate Co., 5E Advanced Materials Inc., Quiborax S.A., Inkabor, Bacanora Minerals Ltd., Borax Argentina, Orocobre Ltd., Etimaden, Erin Ventures Inc., Searles Valley Minerals, SAE Manufacturing Specialties Corp, High Tech Material Solutions, Economy Polymers & Chemicals, Aldon Corporation, Mid South Chemical Co., BariteWorld, Etimine USA, Boric Acid & Borax, Rose Mill
IndexBox has just published a new report: 'U.S. – Borates - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
U.S. Borates Market Statistics
Imports | $155.0 Million USD |
Exports | $514.9 Million USD |
Top Foreign Suppliers | Turkey, Bolivia, Argentina |
Top Export Destinations | China, South Korea, Canada |
The U.S. borates market expanded rapidly to $264M in 2021, picking up by 9.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, and intermediaries' margins, which will be included in the final consumer price). . REQUEST FREE DATA
U.S. Borates Production
Borates production in the United States was estimated at 1.2M tonnes in 2021, flattening at 2020. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 7% y-o-y. Borates production peaked at 1.2M tonnes in 2019; afterwards, it flattened through to 2021. REQUEST FREE DATA
In value terms, borates production shrank slightly to $620M in 2021. Borates production peaked at $798M in 2013; however, from 2014 to 2021, production failed to regain the momentum. REQUEST FREE DATA
U.S. Borates Exports
In 2021, overseas shipments of borates were finally on the rise to reach 918K tonnes for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total exports indicated slight growth from 2007 to 2021: its volume increased at an average annual rate of +1.4% over the last fourteen years.
In value terms, borates exports expanded notably to $515M in 2021. The total export value increased at an average annual rate of +3.7% from 2007 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period.
Exports by Country
China (405K tonnes) was the main destination for borates exports from the United States, accounting for a 44% share of total supplies. Moreover, borates exports to China exceeded the volume sent to the second major destination, South Korea (64K tonnes), sixfold. The third position in this ranking was occupied by India (60K tonnes), with a 6.5% share.
In value terms, China ($194M) remains the key foreign market for borates exports from the United States, comprising 38% of total exports. The second position in the ranking was occupied by South Korea ($41M), with an 8% share of total exports. It was followed by Canada, with a 7.4% share.
From 2007 to 2021, the average annual growth rate of value to China totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+5.0% per year) and Canada (+4.4% per year).
Export Prices by Country
The average borates export price stood at $561 per tonne in 2021, picking up by 3.5% against the previous year. There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Canada ($765 per tonne), while the average price for exports to Malaysia ($434 per tonne) was amongst the lowest. From 2007 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India, while the prices for the other major destinations experienced more modest paces of growth.
U.S. Borates Imports into the U.S.
In 2021, purchases abroad of borates increased by 25% to 356K tonnes for the first time since 2018, thus ending a two-year declining trend. In general, imports enjoyed a buoyant expansion during 2007-2021.
In value terms, borates imports surged to $155M in 2021. Over the period under review, imports showed a strong increase.
Imports by Country
In 2021, Turkey (311K tonnes) constituted the largest supplier of borates to the United States, with an 87% share of total imports. Moreover, borates imports from Turkey exceeded the figures recorded by the second-largest supplier, Bolivia (22K tonnes), more than tenfold.
In value terms, Turkey ($116M) constituted the largest supplier of borates to the United States, comprising 75% of total imports. From 2007 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +11.7%. The second position in the ranking was occupied by Bolivia ($11M), with a 6.9% share of total imports.
Import Prices by Country
The average borates import price stood at $435 per tonne in 2021, increasing by 4.8% against the previous year. Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Bolivia ($486 per tonne), while the price for Turkey amounted to $373 per tonne. From 2007 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia.
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Product Coverage
Natural borates and concentrates thereof, containing more than 85% of H3BO3 calculated on the dry weight; peroxoborates (perborates), oxides of boron, boric acids.
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CONTACT: Contact Information Mekhrona Dzhuraeva Editor media@indexbox.io
