Türkiye leads global boron market with over $1B in exports in 2023
Bigadic boron mines in Bigadic, Balikesir, Türkiye. (Photo by Eti Maden)
Türkiye, holding approximately 73% of the world’s boron reserves, continues to dominate in the production and sale of this “fuel of the future.” In 2023, Türkiye’s boron exports surpassed $1 billion.
The 2023 Boron Sector Report by ETI Enterprises highlights Türkiye’s leadership in the boron market, showcasing its achievements.
The report reveals that ETI’s refined boron production reached 1.92 million tons last year, with major products including borax pentahydrate, ground colemanite and boric acid.
Despite global challenges, ETI maintained its position as the top global boron supplier, selling 1.7 million tons internationally and 94,000 tons domestically, totaling 1.8 million tons.
These sales generated $1.014 billion in revenue. The company’s exports were distributed as 58% to the Asia-Pacific region, 24% to Europe and 16% to the U.S. Domestically, 34% of sales went to the glass industry, 25% to ceramics, 11% to cleaning products, 9% to agriculture and 5% to adhesives and glues.
ETI significantly outperformed its closest competitor in 2023. With global boron consumption dropping to around 3 million tons, Türkiye supplied approximately 60% of the demand, compared to 28% from U.S. producers. Russia, China, Chile and Argentina also contributed to the global boron market.
The report underscores the importance of value-added production, highlighting ETI’s focus on enhancing its minerals before international distribution.
Notable projects include the production of boron carbide for nuclear and armor technology, ferroboron for steel production and magnets, lithium carbonate for electric vehicle batteries, and rare earth oxides for various industrial applications, including metallurgy, glass, ceramics, lighting, nuclear and chemical sectors.
