Eastern Europe: Baryte Market 2024

Baryte Market Size in Eastern Europe

In 2021, the East European baryte market increased by 2% to $X, rising for the second year in a row after four years of decline. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Baryte Production in Eastern Europe

In value terms, baryte production reduced to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when the production volume increased by 28%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Baryte Exports

Exports in Eastern Europe

In 2021, shipments abroad of barytes was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 132%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, baryte exports surged to $X in 2021. In general, exports showed a remarkable increase. The growth pace was the most rapid in 2013 with an increase of 66%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Bulgaria was the key exporting country with an export of around X tons, which finished at 87% of total exports. It was distantly followed by Russia (X tons), achieving a 10% share of total exports. Poland (X tons) held a relatively small share of total exports.

Bulgaria was also the fastest-growing in terms of the barytes exports, with a CAGR of +71.5% from 2012 to 2021. At the same time, Poland (+58.5%) displayed positive paces of growth. Russia experienced a relatively flat trend pattern. Bulgaria (+87 p.p.) and Poland (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -56.9% from 2012 to 2021, respectively.

In value terms, Bulgaria ($X) remains the largest baryte supplier in Eastern Europe, comprising 80% of total exports. The second position in the ranking was taken by Russia ($X), with a 12% share of total exports.

In Bulgaria, baryte exports increased at an average annual rate of +71.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (-8.3% per year) and Poland (+43.4% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, waning by -9.9% against the previous year. Over the period under review, the export price faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 3.9%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-8.7%).

Baryte Imports

Imports in Eastern Europe

Baryte imports fell to X tons in 2021, with a decrease of -3.5% on the year before. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -18.0% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 42% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, baryte imports totaled $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 28%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia was the largest importer of barytes in Eastern Europe, with the volume of imports amounting to X tons, which was approx. 50% of total imports in 2021. Ukraine (X tons) held the second position in the ranking, followed by Poland (X tons), Romania (X tons), Belarus (X tons) and the Czech Republic (X tons). All these countries together held near 48% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to baryte imports into Russia stood at +7.0%. At the same time, Belarus (+13.5%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +13.5% from 2012-2021. The Czech Republic experienced a relatively flat trend pattern. By contrast, Ukraine (-1.3%), Poland (-4.5%) and Romania (-6.2%) illustrated a downward trend over the same period. While the share of Russia (+19 p.p.) and Belarus (+4.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ukraine (-4.5 p.p.), Romania (-8.6 p.p.) and Poland (-8.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 69% share of total imports. Ukraine, Belarus and Romania lagged somewhat behind, together accounting for a further 26%.

Belarus, with a CAGR of +14.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, increasing by 15% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 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 the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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