Latin America and the Caribbean: Baryte Market 2024

Baryte Market Size in Latin America and the Caribbean

In 2021, the Latin American baryte market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Baryte Production in Latin America and the Caribbean

In value terms, baryte production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 56% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Baryte Exports

Exports in Latin America and the Caribbean

In 2021, the amount of barytes exported in Latin America and the Caribbean soared to X tons, with an increase of 71% on 2020 figures. In general, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 95%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, baryte exports surged to $X in 2021. Overall, exports posted measured growth. The most prominent rate of growth was recorded in 2017 with an increase of 89% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico represented the key exporter of barytes in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. 52% of total exports in 2021. Bolivia (X tons) took a 21% share (based on physical terms) of total exports, which put it in second place, followed by Peru (19%) and Trinidad and Tobago (6.5%).

From 2012 to 2021, average annual rates of growth with regard to baryte exports from Mexico stood at -6.4%. At the same time, Trinidad and Tobago (+44.9%) and Bolivia (+2.9%) displayed positive paces of growth. Moreover, Trinidad and Tobago emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +44.9% from 2012-2021. By contrast, Peru (-8.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Bolivia and Trinidad and Tobago increased by +11 and +6.4 percentage points, respectively.

In value terms, Mexico ($X) remains the largest baryte supplier in Latin America and the Caribbean, comprising 72% of total exports. The second position in the ranking was held by Peru ($X), with an 11% share of total exports. It was followed by Trinidad and Tobago, with an 8.3% share.

In Mexico, baryte exports expanded at an average annual rate of +9.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (-8.2% per year) and Trinidad and Tobago (+49.1% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, declining by -27.7% against the previous year. In general, the export price, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2015 an increase of 236%. The level of export peaked at $X per ton in 2017; however, from 2018 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 Mexico ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+17.1%), while the other leaders experienced more modest paces of growth.

Baryte Imports

Imports in Latin America and the Caribbean

In 2021, purchases 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. In general, imports, however, continue to indicate a deep slump. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, baryte imports surged to $X in 2021. Overall, imports, however, continue to indicate a abrupt slump. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Argentina was the key importer of barytes in Latin America and the Caribbean, with the volume of imports recording X tons, which was near 52% of total imports in 2021. Trinidad and Tobago (X tons) ranks second in terms of the total imports with a 14% share, followed by Colombia (8.8%), Ecuador (6.9%) and Mexico (6.5%). Suriname (X tons) and Brazil (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to baryte imports into Argentina stood at +36.7%. At the same time, Suriname (+54.5%) and Trinidad and Tobago (+17.2%) displayed positive paces of growth. Moreover, Suriname emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +54.5% from 2012-2021. By contrast, Ecuador (-5.7%), Colombia (-13.1%), Mexico (-19.2%) and Brazil (-23.6%) illustrated a downward trend over the same period. While the share of Argentina (+50 p.p.), Trinidad and Tobago (+12 p.p.) and Suriname (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Colombia (-8.6 p.p.), Brazil (-12.9 p.p.) and Mexico (-18.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Argentina ($X) constitutes the largest market for imported barytes in Latin America and the Caribbean, comprising 38% of total imports. The second position in the ranking was held by Trinidad and Tobago ($X), with a 15% share of total imports. It was followed by Mexico, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value in Argentina amounted to +27.0%. In the other countries, the average annual rates were as follows: Trinidad and Tobago (+11.7% per year) and Mexico (-17.3% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, shrinking by -17.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 29%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+12.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :