Boron Prices December 2023
Product
|
Category |
Region |
Price |
Boron |
Metal & Metalloids |
India |
563 USD/MT (Natural Boron Ore) |
Boron |
Metal & Metalloids |
Spain |
540 USD/MT (Natural Boron Ore) |
Q4 2023 began with prices of the Indian boron market increasing in October due to enhanced demand from the paint, coating, and glass industries that were mainly affected by the expectation of India’s first factory to manufacture gorilla glass. The rise was short-lived, with prices declining from November onwards, and was attributed to a mix of factors such as higher inventory from high production levels, trade disruptions, economic uncertainties, and consumer uncertainty. The combined impact of these dynamics was an oversupply, and the natural boron ore CFR JNPT in India price closed at 563 USD/MT at the end of the quarter.
The price of boron in Spain declined in the last quarter of 2023 due to low demand from the domestic and international downstream sectors. Economic uncertainties and sectoral challenges, such as the increase in federal rates hitting the glass industry and the Red Sea trade disruptions made matters worse. Higher production caused the accumulation of residual stock, while the change in seasons and geopolitical issues caused reserve purchases. The low demand in several industries, along with tough winter conditions, and the changing trends in the automobile sector resulted in the FOB Barcelona price of natural boron ore closing at 540 USD/MT.
Boron Price Trend, Market Analysis, and News
IMARC’s newly published report, titled Boron Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of boron pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing boron price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Boron Market Analysis
The global boron market size reached US$ 2.3 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 3.3 Billion, at a projected CAGR of 4.20% during 2023-2032.
The extensive use of boron in borosilicate glass production for its thermal shock resistance represents one of the key factors driving the market growth of boron. For instance, based on the International Year of Glass 2022, almost 650 container glass manufacturers are operating in 1200 sites worldwide, manufacturing 95 million tons of glass annually which is followed by 320 flat glass manufacturers in about 560 sites, and by the manufacturers of household glass/tableware that operates in over 400 sites with nearly 8 million tons of production a year. Moreover, the rising demand for boron in the fiberglass industry due to its strength and durability, is a major growth-inducing factor. In addition to this, boron is a pivotal component used in the agricultural industry for boosting crop yields, thereby contributing to the market growth. Besides this, boron is used in nuclear reactors as a neutron absorber for safety measures. Along with this, boron acts as a key component in boron-infused fertilizers to fulfill the food demand globally which, in turn, is facilitating the market growth of boron. Apart from this, the growth of the construction industry requires boron-based insulation materials. For instance, NBS data of China shows that Construction value accounted for CNY 31.2 trillion (USD 4.5 trillion) in 2022, which is up from CNY 29.3 trillion (USD 4.2 trillion) in 2021. It is estimated that China plans to spend around USD 13 trillion on buildings over the next decade, which is creating a positive outlook for the boron market. Furthermore, the transition from fossil fuels to the utilization of renewable energy sources is positively impacting the energy storage demand, which is further employed in battery technologies, including lithium borate. These batteries demonstrate high energy density and suitability for electric vehicles (EVs) and energy storage systems. This is significantly contributing to the growth of the boron market.
Boron News
The report covers the latest developments, updates, and trends impacting the global boron market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in boron production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.
Latest developments in the Boron industry:
- In August 2023, Rio Tinto’s Diavik Diamond Mine to build the largest solar power plant across Canada’s territories, featuring over 6,600 solar panels that will generate approximately 4,200 megawatt-hours of carbon-free electricity annually for the mine.
- In July 2023, Allkem Limited announced that Stage 2 of the Olaroz Facility has successfully achieved first production, with wet lithium carbonate cake produced at the filter presses.
Product Description
Boron, an element with the symbol B and atomic number 5, is one of the few elements that demonstrate remarkable features and find applications in a wide range of fields. It occurs mixed with other compounds in the Earth's crust and is notable for its extreme hardness, and relatively low abundance. Boron is a metalloid hence it owes its intermediate properties to both metals and non-metals. The unique aspect of this element lies in its ability to form strong covalent bonds, which in turn contributes to its high melting point and hardness. Boron has a crystalline structure, black, shiny, and hard like diamond which is the reason why it can be used in industrial fields where the material needs to be very strong and resilient. Boron is widely employed in glass and fiberglass manufacturing, as a micronutrient in agriculture fertilizers, and as a high-tech material boron carbide and boron nitride due to their hardness and thermal properties.
Regional Coverage
The report provides a detailed analysis of the boron market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.
Global Boron Price
The report offers a holistic view of the global boron pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Boron Price
In Europe, the boron market suffered price drop because the end-use industries saw a reduction in demand, and economic uncertainties. Stable building activity failed to compensate for the reduced demand in the glass industry, weakened by market instability and interest rate hikes. The surplus in supply came from the increased production, which disrupted the market further by the disruptions in trading and severe winter conditions. Global trends towards electric vehicles also played a part in the decline of demand across many sectors.
This analysis can be extended to include detailed boron price information for a comprehensive list of countries.
Region |
Countries Covered |
Europe |
Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Boron Price
The market exhibited varied dynamics in North America, where in the beginning, the boron market decreased because of reduced demand from the glass industry due to the economic uncertainty, and a slowdown in construction activities. Subsequent months witnessed price increases, driven by supply tightness and mounting demand from the paint, coating, and fertilizer sectors, despite trade disruptions and unfavorable weather conditions. The market was quite stable at the end of the month. This was achieved mainly by global economic instability and prudent actions of the purchasers across the various industries.
Specific data on boron prices within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
Middle East and Africa Boron Price
The report explores the boron pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on boron prices for countries can also be provided.
Region |
Countries Covered |
Middle East and Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Boron Price
In the Asia-Pacific region, the boron market first underwent price increases fueled by the strong demand coming from glass, paint and coating industries. On the contrary, the following few months observed a decline in prices as the result of reduced demand at the local and global levels, excess production which consequently caused inventory surpluses and the trade disruptions. The looming economic uncertainties, the seasonal fluctuations, and the quandary about trade security instigated the market to fall drastically.
This analysis can be further extended to include detailed boron prices for a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Boron Price
The analysis of boron prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries.Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
Key Attributes |
Details |
Product Name |
Boron |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece*
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru*
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Product Portfolio
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of boron pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting boron price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the boron industry.