MENA: Baryte Market 2024

Baryte Market Size in MENA

In 2021, the MENA's baryte market increased by 8.5% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Baryte Production in MENA

In value terms, baryte production skyrocketed to $X in 2021 estimated in export price. Overall, production recorded prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 71%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Baryte Exports

Exports in MENA

In 2021, after two years of decline, there was significant growth in shipments abroad of barytes, when their volume increased by 100% to X tons. Total exports indicated a mild expansion from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -10.8% against 2018 indices. The volume of export peaked 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 saw a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Morocco (X tons) was the key exporter of barytes, committing 78% of total exports. It was distantly followed by Turkey (X tons), committing a 13% share of total exports. The United Arab Emirates (X tons) and Iran (X tons) followed a long way behind the leaders.

Morocco experienced a relatively flat trend pattern with regard to volume of exports of barytes. At the same time, Iran (+12.9%), the United Arab Emirates (+10.6%) and Turkey (+1.8%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +12.9% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Iran increased by +2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) remains the largest baryte supplier in MENA, comprising 65% of total exports. The second position in the ranking was taken by Turkey ($X), with a 25% share of total exports. It was followed by the United Arab Emirates, with a 4.5% share.

In Morocco, baryte exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+6.3% per year) and the United Arab Emirates (+4.9% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, shrinking by -8.1% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 14% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+4.3%), while the other leaders experienced a decline in the export price figures.

Baryte Imports

Imports in MENA

Baryte imports declined significantly to X tons in 2021, falling by -33.2% against 2020 figures. Overall, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2015 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, baryte imports dropped notably to $X in 2021. In general, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2015 when imports increased by 43%. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia was the major importing country with an import of about X tons, which finished at 47% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a 20% share, followed by the United Arab Emirates (8.6%), Oman (7.9%) and Algeria (5%). The following importers - Turkey (X tons) and Qatar (X tons) - each accounted for a 5.8% share of total imports.

Imports into Saudi Arabia decreased at an average annual rate of -3.2% from 2012 to 2021. At the same time, Qatar (+19.3%), Turkey (+18.1%) and Kuwait (+5.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.3% from 2012-2021. Oman experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-3.2%) and Algeria (-7.6%) illustrated a downward trend over the same period. Kuwait (+10 p.p.), Qatar (+2.4 p.p.) and Turkey (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Algeria and Saudi Arabia saw its share reduced by -3.1% and -3.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported barytes in MENA, comprising 43% of total imports. The second position in the ranking was held by Kuwait ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 9.8% share.

In Saudi Arabia, baryte imports decreased by an average annual rate of -6.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kuwait (+6.0% per year) and the United Arab Emirates (-6.7% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, shrinking by -2.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2015 when the import price increased by 4.1%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform