Hong Kong SAR, China: Baryte Market 2024

Baryte Market Size in Hong Kong SAR, China

After four years of growth, the Hong Kong baryte market decreased by -13.2% to $X in 2021. In general, consumption, however, saw significant growth. Baryte consumption peaked at $X in 2020, and then declined in the following year.

Baryte Production in Hong Kong SAR, China

In value terms, baryte production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 2,881% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Baryte Exports

Exports from Hong Kong SAR, China

In 2021, the amount of barytes exported from Hong Kong SAR contracted remarkably to X tons, which is down by -16.5% on the previous year. Over the period under review, exports, however, saw a perceptible increase. The growth pace was the most rapid in 2013 when exports increased by 1,013%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, baryte exports reduced to $X in 2021. Overall, exports recorded a perceptible reduction. The pace of growth was the most pronounced in 2013 with an increase of 597%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for baryte exports from Hong Kong SAR, with a 88% share of total exports. Moreover, baryte exports to the United States exceeded the volume sent to the second major destination, India (X tons), ninefold. Thailand (X tons) ranked third in terms of total exports with a 1.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-46.1% per year) and Thailand (-20.5% per year).

In value terms, the largest markets for baryte exported from Hong Kong SAR were India ($X), the United States ($X) and China ($X), with a combined 90% share of total exports.

India, with a CAGR of +39.5%, recorded 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 mixed trend patterns.

Export Prices by Country

The average baryte export price stood at $X per ton in 2021, increasing by 7.9% against the previous year. Overall, the export price, however, saw a perceptible slump. The growth pace was the most rapid in 2014 an increase of 69%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to the United States ($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 India (+158.8%), while the prices for the other major destinations experienced more modest paces of growth.

Baryte Imports

Imports into Hong Kong SAR, China

In 2021, purchases abroad of barytes decreased by -78.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports faced a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 153%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, baryte imports declined notably to $X in 2021. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 171% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

The Netherlands (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of baryte imports to Hong Kong SAR, together accounting for 91% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +10.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), Thailand ($X) and Taiwan (Chinese) ($X) were the largest baryte suppliers to Hong Kong SAR, together accounting for 81% of total imports.

The Netherlands, with a CAGR of +24.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average baryte import price amounted to $X per ton, waning by -30.4% against the previous year. Overall, the import price, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2018 an increase of 103%. The import price peaked at $X per ton in 2020, and then dropped sharply in the following year.

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 Japan ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+25.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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