Portugal: Market for Oxides Of Boron and Boric Acids 2024

Market Size for Oxides Of Boron and Boric Acids in Portugal

In 2021, after two years of decline, there was significant growth in the Portuguese market for oxides of boron and boric acids, when its value increased by 30% to $X. Over the period under review, consumption continues to indicate a prominent expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Oxides Of Boron and Boric Acids

Exports from Portugal

In 2021, shipments abroad of oxides of boron and boric acids increased by 59% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 1,013% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, boron oxide and boric acid exports rose rapidly to $X in 2021. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when exports increased by 1,622%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

South Africa (X tons) was the main destination for boron oxide and boric acid exports from Portugal, with a 58% share of total exports. Moreover, boron oxide and boric acid exports to South Africa exceeded the volume sent to the second major destination, Spain (X tons), threefold. Cabo Verde (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Africa amounted to +82.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+188.9% per year) and Cabo Verde (+21.5% per year).

In value terms, South Africa ($X) remains the key foreign market for oxides of boron and boric acids exports from Portugal, comprising 70% of total exports. The second position in the ranking was held by Morocco ($X), with an 8.5% share of total exports. It was followed by Cabo Verde, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to South Africa stood at +77.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+64.1% per year) and Cabo Verde (+5.2% per year).

Export Prices by Country

The average export price for oxides of boron and boric acids stood at $X per ton in 2021, which is down by -29.8% against the previous year. Over the period under review, the export price recorded a noticeable slump. The growth pace was the most rapid in 2020 when the average export price increased by 123% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Mauritius ($X per ton), while the average price for exports to Spain ($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 Morocco (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oxides Of Boron and Boric Acids

Imports into Portugal

In 2021, the amount of oxides of boron and boric acids imported into Portugal skyrocketed to X tons, jumping by 33% against 2020. Overall, imports showed a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by 98% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, boron oxide and boric acid imports surged to $X in 2021. In general, imports posted strong growth. The growth pace was the most rapid in 2013 when imports increased by 75% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest boron oxide and boric acid supplier to Portugal, accounting for a 69% share of total imports. Moreover, boron oxide and boric acid imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Peru (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+28.2% per year) and Peru (0.0% per year).

In value terms, Spain ($X) constituted the largest supplier of oxides of boron and boric acids to Portugal, comprising 71% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by Peru, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from Spain totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+24.1% per year) and Peru (0.0% per year).

Import Prices by Country

The average import price for oxides of boron and boric acids stood at $X per ton in 2021, reducing by -2.8% against the previous year. Overall, the import price recorded a abrupt setback. The growth pace was the most rapid in 2018 an increase of 47%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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