Morocco: Baryte Market 2024

Baryte Market Size in Morocco

In 2021, after five years of decline, there was significant growth in the Moroccan baryte market, when its value increased by 5.4% to $X. Overall, consumption saw a strong increase. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Baryte Production in Morocco

In value terms, baryte production skyrocketed to $X in 2021 estimated in export price. In general, production, however, showed a pronounced descent. Baryte production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Baryte Exports

Exports from Morocco

In 2021, the amount of barytes exported from Morocco skyrocketed to X tons, growing by 163% on 2020. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, baryte exports soared to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for baryte exports from Morocco, with a 47% share of total exports. Moreover, baryte exports to the United States exceeded the volume sent to the second major destination, Argentina (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+46.5% per year) and the Netherlands (-3.6% per year).

In value terms, the United States ($X) emerged as the key foreign market for barytes exports from Morocco, comprising 41% of total exports. The second position in the ranking was held by Argentina ($X), with a 13% share of total exports. It was followed by Norway, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+34.3% per year) and Norway (+1.1% per year).

Export Prices by Country

In 2021, the average baryte export price amounted to $X per ton, reducing by -3.4% against the previous year. Overall, the export price showed a mild setback. The pace of growth appeared the most rapid in 2014 an increase of 6.2%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average 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 Spain ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Spain (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Baryte Imports

Imports into Morocco

In 2021, the amount of barytes imported into Morocco skyrocketed to X tons, rising by 30% on the previous year's figure. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.8% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 31% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, baryte imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of baryte to Morocco, accounting for a 63% share of total imports. Moreover, baryte imports from China exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-3.1% per year) and Turkey (+5,045.1% per year).

In value terms, China ($X) constituted the largest supplier of barytes to Morocco, comprising 57% of total imports. The second position in the ranking was held by Spain ($X), with a 26% share of total imports. It was followed by Turkey, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-2.3% per year) and Turkey (+4,938.9% per year).

Import Prices by Country

The average baryte import price stood at $X per ton in 2021, with an increase of 8.3% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. 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 Germany ($X per ton), while the price for China ($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 (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :