HS Code:
Disodium tetraborate, commonly known as refined borax, falls under HS Code 2840.11. It is a naturally occurring mineral compound composed of boron, sodium, oxygen, and water. Refined borax is widely used in various industries, including glass and ceramics manufacturing, detergents, cosmetics, and agriculture as a micronutrient. It is also utilized in chemical processes as a buffering agent and in the production of boric acid. The global trade of refined borax is driven by its versatile applications and the availability of boron mineral deposits in specific regions.
Total Trade Volume
Approximately 1.2 million metric tons
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
550,000 metric tons
45.8% of total trade of total trade
Increasing
300,000 metric tons
25.0% of total trade of total trade
Stable
100,000 metric tons
8.3% of total trade of total trade
Increasing
80,000 metric tons
6.7% of total trade of total trade
Stable
50,000 metric tons
4.2% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-Turkey Customs Union)
Growing demand in agriculture
Increased use of borax as a micronutrient in fertilizers due to rising awareness of soil boron deficiency, particularly in Asia-Pacific and Latin America
2021-2023
Shift towards sustainable glass production
Higher consumption of borax in eco-friendly glass and ceramics manufacturing, driven by stricter environmental regulations in Europe and North America
2020-2022
Fluctuating raw material availability
Supply chain disruptions due to geopolitical tensions and mining restrictions in key producing regions, leading to price volatility
2022
Turkey, the world's largest exporter of refined borax, announced investments in new processing facilities to meet rising global demand, particularly from Asia.
March 2023
Likely to solidify Turkey's dominance in the market, potentially lowering global prices due to increased supply.
The European Union updated its REACH regulations, imposing tighter controls on borax handling and usage due to potential health and environmental risks.
January 2023
May increase compliance costs for exporters to the EU, potentially reducing trade volumes to the region.
Ongoing trade disputes have led to higher tariffs on Chinese borax imports to the US, prompting US buyers to source from alternative suppliers like Turkey and Chile.
September 2022
Shifts in trade flows, with Turkey and Chile gaining market share in the US at the expense of China.