Boric Acid Prices

Boric Acid Prices December 2023

The boric acid prices in the United States for Q4 2023 reached 898 USD/MT in December. The market saw a notable price reduction, primarily due to export challenges stemming from geopolitical conflicts affecting shipping routes. This situation temporarily hampered the U.S. market ability to meet international demand, although domestic production remained steady. As logistical barriers are expected to diminish, the market is poised for a gradual recovery.

The price trend for boric acid in Germany for Q4 2023, reached 1217 USD/MT in December. The market experienced a drop in demand toward the end of 2023, aligning with broader European trends of high inventory levels and decreased raw material costs. The ongoing geopolitical issues slowed down the import activities, particularly from major boron-producing countries. However, prospects for market improvement were anticipated with the potential easing of external pressures.

Boric Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Boric Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of boric acid 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 price of boric acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of boric acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing boric acid 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.

Boric Acid Market Analysis

The global boric acid market size reached 950 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 1486.44 Thousand Tons, at a projected CAGR of 5.10% during 2023-2032.

• The glass and ceramics industry is a major consumer of boric acid, hence the growing product demand impels the market. Boric acid plays a crucial role in manufacturing borosilicate glass used in tea glasses, food preparation, and laboratory usage due to its heat resistant properties, and applications in changing the texture of ceramic glazes commonly used in home appliances as well as industries.
• In agricultural production, the usage of boric acid is increasing as a micro ingredient in fertilizers. It assists in increasing crop yield and quality through supplementing boron that is a significant nutrient to the various crops such as fruits, vegetables, and nuts. This application is driving the market demand for boric acid, highlighting its importance in modern agricultural practices.
• The introduction of new pest control products featuring boric acid-based solutions is impelling the market demand. Boric acid is valued as an effective insecticide against ants, cockroaches, and termites. As concerns over the environmental and health risks associated with traditional insecticides grow, there is a shifting preference towards biodegradable pest control chemicals, with boric acid being a popular choice due to its efficacy and lower toxicity.
• Industrial application of boric acid is spreading, mainly in metallurgy and fiberglass manufacture. Used as a flux to aid metal melting and as a strengthening additive in fiberglass-reinforced plastics, boric acid enhances efficiency and product durability, bolstering its demand across these sectors.
• Stringent environmental regulations across the globe are affecting the boric acid market. These laws are promoting sustainable mining and the use of green products, favoring innovation in the production of boric acid, hence augmenting its usage among various end-use industries.
• Continual technological advancements in the mining and production of boric acid allow more efficient, cost-effective processes. Such innovations allow for greater sustainability around the world to accommodate a growing demand while lowering the environmental footprint and cost of production.
• Utilized particularly in the preservation of grains and fruits, boric acid helps extend the shelf life of these foods by inhibiting fungal growth. This preservation method ensures minimal wastage and maintains the quality of stored and transported foods, thus supporting the demand for boric acid in food safety and storage industries.
• The development of innovative fire-retardant products is driving the market for boric acid positively. Boric acid is increasingly used in the formulation of these products, which are essential in construction materials, textiles, and furniture to meet regional fire safety codes. This application of boric acid enhances fire resistance and safety, fulfilling crucial regulatory requirements and supporting market growth.

Boric Acid News

The report covers the latest developments, updates, and trends impacting the global boric acid 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 boric acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the boric acid price trend.

Latest developments in the boric acid industry:

• On 13^th March 2023, Borax unveiled Optibor BQ, a highly pure, powder-grade orthoboric acid (H3BO3), specifically designed for batteries and capacitors, featuring a fine particle size distribution for precision in modern battery applications.
• On 26^th October 2023, 5E advanced materials announced the launch of a small-scale boric acid plant. The company announced that the unit will have capacity for 2,000 short tons per year, scalable to 9,000 tons per year in 2024.

Product Description

Boric acid (H₃BO₃) is a weak monobasic Lewis acid based on boron. This diverse chemical is used in several functions as a result of its disinfectant, repellent, fireproofing, and preservation qualities. In medicine, Boro glycerol is widely used in ointments for the treatment of infected wounds and burns, and in the form of suppositories for treating mycoses of the genital area and prevention of athlete’s foot. It is used in insecticidal products targeting ants, cockroaches, as well as termites mainly due to its insect killing capability.

Another use of boron compounds in glass, ceramics and the enamel industries are that it is used in the reduction of melting temperature of silicates. Further, it is used in flame products that are involved with textile products, and in wood protecting against fungus growth and insects. It is found in the form of powder or granules, or liquid solution, depending on its application.

Regional Coverage

The report provides a detailed analysis of the boric acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast 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 boric acid price trend.

Global Boric Acid Price

The report offers a holistic view of the global boric acid pricing trends in the form of boric acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into boric acid historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into boric acid price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed boric acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

North America Boric Acid Price

During the final months of 2023, the market in North America experienced significant price volatility. Initially, prices dropped due to logistical challenges affecting exports, particularly disruptions caused by geopolitical tensions in the Red Sea region. The United States, a key global supplier of Borax, faced obstacles in shipping routes due to conflicts involving Iranian-backed groups, impacting the export flow to major Asian markets. Besides these disruptions, some recovery in prices of boric acid was observed toward the end of the year as domestic mining operations continued unaffected, promising a resumption of normal export activities once logistical issues were resolved.

Specific boric acid historical data within the United States and Canada can also be provided.

Europe Boric Acid Price

The European market witnessed a downturn in prices during the last quarter of 2023, primarily due to diminished demand and high inventory levels maintained by domestic entities. The decline was further supported by a reduction in raw material costs, with steady mining processes and decreased consumption contributing to lower import rates from leading suppliers like the United States and Turkey. The crisis in the Red Sea also prompted Turkey to adjust its export strategies, impacting supply dynamics. Despite these challenges, the easing of geopolitical tensions could potentially lead to a stabilization in prices in the future.

This analysis can be extended to include detailed boric acid price information for a comprehensive list of countries.

Middle East and Africa Boric Acid Price

The report explores the boric acid 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 boric acid prices for countries can also be provided.

Asia Pacific Boric Acid Price

In the Asia Pacific, the market presented a varied price trajectory in the 2023 closing quarter. October saw a decline in prices driven by high demand from sectors such as agriculture, pharmaceuticals, and construction, particularly in India where festive activities spurred increased consumption and spending. However, a general downtrend in chemical prices took hold by December, influenced by reduced global demand and a drop in raw material costs from Turkey, a major supplier. The easing of Boron prices, combined with seasonal consumption patterns, led to lower boric acid prices, although expectations were set for an increase in demand across several industries in the following quarter.

This boric acid price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Boric Acid Price

The analysis of boric acid 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.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of boric acid 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 boric acid price trend, 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. The boric acid price charts ensure our clients remain at the forefront of the industry.