ASEAN: Baryte Market 2024

Baryte Market Size in ASEAN

In 2021, the ASEAN baryte market increased by 6.1% to $X, rising for the fourth year in a row after four years of decline. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Baryte Production in ASEAN

In value terms, baryte production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 37%. Over the period under review, production hit record highs at $X in 2020, and then dropped in the following year.

Baryte Exports

Exports in ASEAN

In 2021, approx. X tons of barytes were exported in ASEAN; dropping by -34.9% against 2020 figures. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 82%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, baryte exports fell significantly to $X in 2021. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 53% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, recording X tons, which was near 84% of total exports in 2021. It was distantly followed by Vietnam (X tons), making up an 8.5% share of total exports. The following exporters - Malaysia (X tons) and Singapore (X tons) - each resulted at a 5.3% share of total exports.

Thailand was also the fastest-growing in terms of the barytes exports, with a CAGR of +8.3% from 2012 to 2021. Malaysia (-8.2%), Singapore (-24.0%) and Vietnam (-28.4%) illustrated a downward trend over the same period. Thailand (+68 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Vietnam saw its share reduced by -9.2% and -58.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest baryte supplier in ASEAN, comprising 71% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Singapore, with a 7.1% share.

In Thailand, baryte exports expanded at an average annual rate of +2.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (-22.9% per year) and Singapore (-20.0% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, surging by 8.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 33%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.7%), while the other leaders experienced mixed trends in the export price figures.

Baryte Imports

Imports in ASEAN

In 2021, baryte imports in ASEAN totaled X tons, with an increase of 14% on the previous year's figure. Overall, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2018 when imports increased by 31%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, baryte imports soared to $X in 2021. Over the period under review, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons) and Malaysia (X tons) represented the major importers of barytes in ASEAN, together creating 72% of total imports. Thailand (X tons) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (4.9%). Brunei Darussalam (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +26.9%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest baryte importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and Thailand ($X), together accounting for 83% of total imports. Vietnam and Brunei Darussalam lagged somewhat behind, together comprising a further 14%.

Among the main importing countries, Vietnam, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, rising by 8.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 15%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brunei Darussalam (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform