China: Baryte Market 2024

Baryte Market Size in China

In 2021, the Chinese baryte market decreased by -22% to $X for the first time since 2017, thus ending a three-year rising trend. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.9% against 2017 indices. Baryte consumption peaked at $X in 2020, and then contracted markedly in the following year.

Baryte Production in China

In value terms, baryte production declined to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 68%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Baryte Exports

Exports from China

In 2021, shipments abroad of barytes was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, faced a abrupt decline. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, baryte exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Indonesia (X tons) were the main destinations of baryte exports from China, together comprising 74% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +6.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Indonesia ($X) were the largest markets for baryte exported from China worldwide, together comprising 63% of total exports.

The Netherlands, with a CAGR of +7.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average baryte export price stood at $X per ton in 2021, declining by -6.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2020 when the average export price increased by 30% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Baryte Imports

Imports into China

In 2021, overseas purchases of barytes decreased by -59.4% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2019 when imports increased by 762% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, baryte imports fell notably to $X in 2021. In general, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 377%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Myanmar (X tons) constituted the largest baryte supplier to China, accounting for a 22% share of total imports. Moreover, baryte imports from Myanmar exceeded the figures recorded by the second-largest supplier, Iran (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Myanmar amounted to -28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+483.2% per year) and Spain (+43.6% per year).

In value terms, Spain ($X) constituted the largest supplier of barytes to China, comprising 17% of total imports. The second position in the ranking was taken by Myanmar ($X), with a 7.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +55.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (-30.0% per year) and Iran (+358.5% per year).

Import Prices by Country

The average baryte import price stood at $X per ton in 2021, increasing by 13% against the previous year. In general, the import price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2014 when the average import price increased by 68% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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