For the Quarter Ending March 2025
North America
During the first quarter of 2025, the North American Borax Pentahydrate market witnessed a price decline of 6% compared to the previous quarter, with prices falling through January and February before a modest upturn in March.聽
January鈥檚 decline was driven by reduced sodium tetraborate feedstock costs and lower export prices from major suppliers such as Bolivia and Turkey. Despite renewed strength in US manufacturing, subdued demand from the agrochemical sector limited price stability. February continued the downward trend, as weak construction activity and softer global demand added pressure. Enhanced logistics and lower production costs increased supply, further influencing prices. Meanwhile, the personal care sector offered some resilience with consistent demand.聽
In March, prices saw a slight rebound supported by tighter domestic supply and steady demand from key downstream sectors, including ceramics, agriculture, and glass. Seasonal agricultural activity also contributed to the firming market. Despite the late-month recovery, Q1 ended with a net decrease, shaped by early supply-side relief and uneven sectoral demand.
APAC
During the first quarter of 2025, the APAC Borax Pentahydrate market witnessed a price surge of 3% compared to the previous quarter, with notable gains in January and March and stability in February. In January, prices in India rose due to higher upstream sodium tetraborate costs and strong demand from the FMCG and personal care sectors. Global supply chain disruptions, particularly delays related to the Suez Canal, further tightened supply and added upward pressure on prices. In February, prices stabilized as production costs eased and imports from Turkey and the USA helped maintain an adequate supply. Demand from the fertilizer and personal care sectors remained steady, while the glass and construction sectors showed limited activity. In March, prices increased again as domestic production levels failed to meet growing demand from downstream sectors like glass, ceramics, and agriculture. Tight global supply and elevated import costs, especially from the USA, contributed to the rise. Overall, the quarter closed with a firm upward trend driven by demand strength and fluctuating supply dynamics across the region.
Europe
During the first quarter of 2025, the European Borax Pentahydrate market experienced a decline of 3.5% compared to the previous quarter, with consistent declines observed throughout January, February, and March. In January, Turkey鈥攁 key regional producer鈥攕aw prices fall due to weakened demand from domestic manufacturing sectors, including chemicals and beauty products. Despite rising sodium tetraborate feedstock costs, global demand contraction, particularly from China and India, and disruptions in trade routes like the Suez Canal added complexity to supply chains without significantly impacting local availability. In February, lower upstream costs helped reduce production expenses, while existing inventories and unchanged freight rates supported market stability. However, global demand remained weak, and construction-related borate consumption slowed further. March continued the bearish momentum, with prices declining amid subdued demand from key downstream sectors such as ceramics, construction, and detergents. Despite stable production and ample supply, inflationary concerns and cautious consumer spending limited market activity. This balance of steady supply and weak demand drove prices down across the quarter in the European market.
South America聽
During the first quarter of 2025, the South American Borax Pentahydrate market experienced a price decline of 3.5% compared to the previous quarter, driven by a combination of stable supply and weakening demand across key sectors such as ceramics and agriculture. In Bolivia, effective import operations ensured ample inventories despite global trade disruptions, alleviating supply-side pressure. At the same time, the country's increasing focus on lithium production shifted industrial attention and procurement away from borax. Although the glass industry maintained steady consumption, it proved insufficient to counterbalance the broader market slowdown. In February, prices continued to drop as upstream sodium tetraborate costs decreased. Despite a stable domestic supply, demand from ceramics and agriculture remained limited due to economic challenges and cautious industrial spending. By March, weak regional demand and reduced export interest further intensified downward pressure. With elevated inventories and sluggish consumption across Latin America, suppliers were compelled to lower offers, reinforcing the market's overall bearish trend throughout the first quarter.
For the Quarter Ending December 2024
North America
During the fourth quarter of 2024, the North American Borax Pentahydrate market witnessed a price surge of 4% compared to the previous quarter. This upward trend was primarily driven by an increased downstream agricultural demand. The onset of the fall plantation season in the USA significantly boosted demand for Borax Pentahydrate, particularly in October.
This initial increase in demand intensified as the quarter progressed. Hurricane Helen in October disrupted supply chains, impacting the availability of raw materials and creating logistical challenges. Furthermore, escalating Sodium Tetraborate prices, a key input for Borax Pentahydrate production, significantly increased manufacturing costs during December 2024.
Global shipping disruptions, including labor strikes and the Suez Canal suspension, led to a 15% surge in transpacific freight rates in December, further elevating costs. Container shipping lines were imposing emergency surcharges in anticipation of potential disruptions at US East Coast ports due to impending strikes during December. Simultaneously, the arrival of the mid-crop season in the USA in December further intensified demand for Borax Pentahydrate, as agricultural activities peaked.
APAC
In the fourth quarter of 2024, the Borax Pentahydrate prices in the APAC region showcased an upward trajectory of 2% as compared to the previous quarter. In October 2024, the demand for Borax Pentahydrate started to increase from the downstream agriculture sector due to the plantation season of Rabi in India. However, despite a recovery in demand, the prices of Borax Pentahydrate remained stable in October due to cheaper freight charges which offset the uptrend. However, as the quarter progressed, the demand from the downstream agriculture sector surged significantly. Increased feedstock Sodium Tetraborate prices significantly impacted Borax Pentahydrate production costs during December 2024. Global shipping disruptions, including Yemen-based militant attacks and the Suez Canal suspension, led to a 15% surge in transpacific freight rates in December. While the immediate impact on the Indian market was limited, the overall increase in ocean freight rates since the Red Sea Crisis added to supply chain costs which made the imported Borax Pentahydrate prices expensive during this timeframe.聽
Europe
Borax Pentahydrate prices in the European region experienced a modest 2% increase during the fourth quarter of 2024 compared to the preceding quarter. The onset of the plantation season in October spurred an initial rise in demand from the agricultural sector in Turkey. However, this upward trend was temporarily countered by a decline in freight charges, leading to an overall price decrease in Borax Pentahydrate during that month. As the quarter progressed, agricultural demand surged significantly, exerting upward pressure on prices. Concurrently, escalating costs for Sodium Tetraborate, a crucial feedstock, significantly impacted the production costs of Borax Pentahydrate. Furthermore, global shipping disruptions, notably exacerbated by militant attacks in Yemen, resulted in a 15% surge in transpacific freight rates in December. Although the immediate impact on the Turkish market was limited, the overall increase in ocean freight rates stemming from the ongoing Red Sea Crisis contributed to a rise in supply chain costs, ultimately driving up the prices of imported Borax Pentahydrate during December 2024.聽
