Sodium Tetraborate Price Trend

Sodium Tetraborate Prices December 2023

The price of sodium tetraborate in the United States for Q4 2023 reached 713 USD/MT in December. The market experiences a notable rise in the fourth quarter of 2023 mainly driven by an increase in demand from downstream industries mainly in glass and ceramic manufacturing.

The sodium tetraborate market in China reached 695 USD/MT in December 2023. The large quantity of raw materials has initiated intense competition among Chinese manufacturers leading to price adjustments to maintain competitiveness.

The sodium tetraborate market in Germany reached 885 USD/MT in December 2023. The price of sodium tetraborate witnessed a decline because of restricted import prices for Europe. The reduced demand from the agriculture industry and construction sector has further contributed to an overall decrease in the prices of sodium tetraborate.

Sodium Tetraborate Price Trend, Market Analysis, and News

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

The report examines the elements influencing sodium tetraborate 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.

Sodium Tetraborate Market Analysis

The global sodium tetraborate market size reached 1656.6 Thousand Tonnes in 2023. By 2032, IMARC Group expects the market to reach 2537.1 Thousand Tonnes, at a projected CAGR of 4.90% during 2023-2032.

• Sodium tetraborate is widely used in cosmetics and personal care products as an emulsifier and pH adjuster which is important for maintaining product stability and performance. Sodium tetraborate demand is mainly driven by the global expansion of the cosmetic industry which continuously seeks effective and versatile ingredients going home the product formulations and to meet the consumer protections for quality and safety. According to a report by McKinsey & Company, in 2022 the beauty market which is defined as skincare, fragrance, makeup, and hair care generated approximately $430 billion in revenue. Nowadays beauty is on an upward trajectory across all categories. Furthermore, in a report published by Cosmetics Europe, it is mentioned that the majority of Europe’s 500 million consumers use cosmetics and personal care products every day to protect their health, enhance their well-being and boost their self-esteem.
• In the agriculture sector sodium tetraborate acts as an important micronutrient which is primarily used to correct the boron deficiency in the crops. Boron is an essential component for plant growth which influences reproduction and cell wall strength. The adequate boron supplementation through sodium tetraborate can significantly enhance crop yield and quality making it a critical component in agricultural practices. According to a report published by the World Bank, the agriculture sector accounts for 4% of global gross domestic product (GDP) and in some least developing countries it can account for more than 25% of GDP. As the global agricultural sector expands the need for effective boron supplementation rises thereby driving the sodium tetraborate market.
• Sodium tetraborate is highly sought after in household and commercial cleaning sectors because of its multifunctional properties. Sodium tetraborate enhances laundry detergents by boosting their cleaning power, aids in effective stain removal and acts as a water softener to improve overall cleaning efficiency. As consumer awareness and preference for ecofriendly cleaning products increases the sodium tetraborate demand is on the rise because of its low toxicity and biodegradability as compared to harsher chemicals. This shift towards environmentally conscious cleaning solutions is significantly driving the demand for sodium tetraborate positioning it as a preferred ingredient in sustainable household and commercial cleaning products.

Sodium Tetraborate News

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

Latest developments in the sodium tetraborate industry:

• In 2024, Turkish ETI MADEN I.G.M plans to execute 14 projects valued at 350 million Turkish liras by 2022, funded by the state budget. In total, 130 energy projects are set for completion by year-end, with 23.8 billion Turkish liras allocated, including foreign loans. Last year, 125 energy projects were completed.
• In 20204, Rio Tinto's U.S. Borax operation in Boron, California, is seeking to increase local procurement by offering a unique opportunity for businesses and governmental agencies to tour the mine and learn about potential partnerships. The mine, which is one of the largest borate mining operations globally, supplies 30% of the world's demand for boron and its products. Rio Tinto is focusing on sustainability, converting its haul truck fleet and other operations on-site to renewable diesel and aiming to localize procurement. The mine operates 24/7 with nearly 1,000 employees and produces a range of products on-site, shipping the mineral elsewhere for further refinement.

Product Description

Sodium tetraborate is commonly known as borax. Sodium tetraborate is a naturally occurring mineral and a salt of boric acid. It is generally found as a white powder consisting of soft, colorless crystals that dissolve easily in water. Sodium tetraborate is represented by the chemical formula Na2B4O7 with varying amounts of water molecules leading to its hydrated forms. Sodium tetraborate has a wide range of applications mainly as a cleaning agent where it is used for its ability to soften the water, aid in removal of stains and enhance the effectiveness of detergents. Apart from its use in household and cleaning products sodium tetraborate also plays an important role in the manufacturing of glass and ceramics and acts as a fire retardant and serves as a flux in metallurgy.

Regional Coverage

The report provides a detailed analysis of the sodium tetraborate 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 sodium tetraborate price trend.

Global Sodium Tetraborate Price

The report offers a holistic view of the global sodium tetraborate pricing trends in the form of sodium tetraborate 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 current price of sodium tetraborate but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into 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 sodium tetraborate 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.

Europe Sodium Tetraborate Price

During Q4 2023, sodium tetraborate experienced an increase in demand due to the glass and ceramics industries, leading to higher product prices. Improved supply in later stages resulted in more consistent goods delivery, but prices remained temporarily elevated. In Germany, sodium tetraborate prices declined due to increased production rates and a rise in port inventories. Reduced demand from agriculture and construction sectors contributed to the overall decrease in prices.

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

North America Sodium Tetraborate Price

The sodium tetraborate market experienced an increase in demand from downstream industries in the fourth quarter of 2023, leading to adjusted profit margins and elevated product prices. Despite some initial supply chain challenges, consistency in goods delivery improved in later stages. The rising shipping costs in the region forced longer routes that resulted in increased transit times and elevated shipping costs. The settled price for Sodium Tetraborate was recorded in December 2023.

Specific sodium tetraborate historical data within the United States and Canada can also be provided.

Middle East and Africa Sodium Tetraborate Price

The report explores the sodium tetraborate 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 sodium tetraborate prices for countries can also be provided.

Asia Pacific Sodium Tetraborate Price

The global economic challenges and a downturn in demand from the glass and ceramics industry led to a drop in sodium tetraborate prices in Q4 2023. The influx of raw material dumping in the region intensified competition among Chinese manufacturers, resulting in price adjustments to maintain competitiveness. The NBS Manufacturing PMI in China contracted in December 2023, with a significant decline in new orders, especially in foreign sales, and continued sluggish buying activity.

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

Latin America Sodium Tetraborate Price

The analysis of sodium tetraborate 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 sodium tetraborate 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 sodium tetraborate 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 sodium tetraborate price charts ensure our clients remain at the forefront of the industry.