HS Code:
Potassium Tetraborate (CAS No. 12045-78-2), classified under HS Code 2840.20.00, is a chemical compound primarily used in industrial applications such as glass manufacturing, ceramics, and as a flux in metallurgy. It is also utilized in agricultural fertilizers due to its boron content, which is essential for plant growth. This compound falls under the category of borates and is traded globally in varying quantities depending on industrial and agricultural demand.
Total Trade Volume
Approximately 150,000 metric tons
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
45,000 metric tons
30% of global trade of total trade
Increasing
35,000 metric tons
23% of global trade of total trade
Stable
25,000 metric tons
17% of global trade of total trade
Increasing
15,000 metric tons
10% of global trade of total trade
Decreasing
10,000 metric tons
7% of global trade of total trade
Stable
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)
Rising demand in agriculture
Increased use of potassium tetraborate in fertilizers due to boron deficiency in soils, particularly in Asia-Pacific and Latin America, driving trade volumes up by 8% annually.
2021-2022
Shift toward sustainable glass production
Growing use in eco-friendly glass and ceramic production processes, boosting demand in Europe by 5% over the past two years.
2020-2022
Supply chain disruptions
Geopolitical tensions and logistics challenges, particularly in Russia, have led to a 3% decline in exports from certain regions.
2022
Turkey, a leading exporter, announced investments in borate mining to increase production capacity by 15% over the next five years, focusing on potassium tetraborate for global markets.
March 2023
Expected to stabilize prices and increase supply, benefiting importing countries in Europe and Asia.
The European Union introduced new regulations on boron compounds, requiring detailed environmental impact assessments for imports starting in 2024.
September 2023
May increase compliance costs for exporters and slightly reduce trade volumes to the EU in the short term.
A bilateral agreement reduced tariffs on certain chemical compounds, including borates, between the US and China, effective from mid-2023.
June 2023
Likely to boost trade volume between the two countries by 10% in the next year.