HS Code:
The 'Oxides of boron; boric acids' category, classified under HS Code 281000, includes chemical compounds such as boron oxide (B2O3) and boric acid (H3BO3). These products are primarily used in the production of glass, ceramics, fertilizers, and as a component in various industrial applications including flame retardants and nuclear reactors. Boric acid also finds use in pharmaceuticals and cosmetics due to its antiseptic properties. This category is critical to industries requiring high-purity chemical inputs and plays a significant role in global industrial supply chains.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Turkey)
Rising demand for boric acid in renewable energy applications
Increased trade volumes as boric compounds are used in solar panel manufacturing and energy storage systems
2021-2022
Shift towards sustainable mining practices
Higher production costs but improved market access in environmentally conscious regions like the EU
2020-2022
Growing use in agricultural fertilizers
Boost in exports from major producers to agriculture-dependent economies in Asia and Africa
2019-2022
Turkey, the world's leading exporter, has invested in new mining and processing facilities to increase output of boron oxides and boric acid, aiming to meet rising global demand.
March 2023
Expected to solidify Turkey's dominance in the market, potentially lowering global prices due to increased supply.
The European Union has introduced new regulations requiring higher purity levels and detailed environmental impact assessments for imported boron compounds.
January 2023
May restrict market access for smaller exporters while favoring established producers with compliance capabilities.
Ongoing trade disputes have led to increased tariffs on Chinese boric acid exports to the US, prompting US buyers to source from alternative suppliers like Chile and Turkey.
October 2022
Redistribution of trade flows, with Chile and Turkey gaining market share in the US at the expense of China.