Finland: Baryte Market 2024

Baryte Market Size in Finland

In 2021, the Finnish baryte market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, showed a deep setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Baryte Production in Finland

In value terms, baryte production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 26%. Baryte production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Baryte Exports

Exports from Finland

In 2021, baryte exports from Finland surged to X tons, rising by 30% on the year before. Over the period under review, exports showed a resilient increase. The growth pace was the most rapid in 2014 with an increase of 464%. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, baryte exports surged to $X in 2021. Overall, exports recorded strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 778% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for baryte exports from Finland, with a 64% share of total exports. Moreover, baryte exports to Sweden exceeded the volume sent to the second major destination, Poland (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Sweden totaled +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-7.4% per year) and Russia (-12.9% per year).

In value terms, Sweden ($X) remains the key foreign market for barytes exports from Finland, comprising 60% of total exports. The second position in the ranking was held by Poland ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden totaled +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-3.9% per year) and Russia (-2.6% per year).

Export Prices by Country

The average baryte export price stood at $X per ton in 2021, surging by 15% against the previous year. Over the period under review, the export price recorded a noticeable increase. The pace of growth was the most pronounced in 2017 an increase of 207% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Sweden ($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 Slovakia (+51.2%), while the prices for the other major destinations experienced more modest paces of growth.

Baryte Imports

Imports into Finland

In 2021, the amount of barytes imported into Finland was estimated at X tons, increasing by 9.9% compared with the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 30%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, baryte imports surged to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 23%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest baryte supplier to Finland, accounting for a 52% share of total imports. Moreover, baryte imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by China (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+10.5% per year) and China (+12.4% per year).

In value terms, Turkey ($X), the Netherlands ($X) and Germany ($X) constituted the largest baryte suppliers to Finland, together accounting for 78% of total imports. China, Spain and the UK lagged somewhat behind, together accounting for a further 21%.

China, with a CAGR of +15.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average baryte import price stood at $X per ton in 2021, with an increase of 8.9% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, baryte import price increased by +26.7% against 2019 indices. The growth pace was the most rapid in 2013 an increase of 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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