Pakistan: Baryte Market 2024

Baryte Market Size in Pakistan

For the third year in a row, the Pakistani baryte market recorded decline in sales value, which decreased by -13.6% to $X in 2021. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Baryte Production in Pakistan

In value terms, baryte production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production recorded a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 204% against the previous year. Baryte production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Baryte Exports

Exports from Pakistan

For the third consecutive year, Pakistan recorded growth in overseas shipments of barytes, which increased by 71% to X tons in 2021. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 257% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, baryte exports soared to $X in 2021. In general, exports showed buoyant growth. The growth pace was the most rapid in 2013 with an increase of 345% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Kuwait (X tons) was the main destination for baryte exports from Pakistan, accounting for a 64% share of total exports. Moreover, baryte exports to Kuwait exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Oman (X tons), with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kuwait totaled +115.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+15.4% per year) and Oman (+67.0% per year).

In value terms, Kuwait ($X), the United Arab Emirates ($X) and the United States ($X) were the largest markets for baryte exported from Pakistan worldwide, with a combined 90% share of total exports.

In terms of the main countries of destination, Kuwait, with a CAGR of +87.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average baryte export price stood at $X per ton in 2021, which is down by -11.8% against the previous year. Overall, the export price showed a noticeable curtailment. The pace of growth was the most pronounced in 2015 an increase of 28%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Kuwait ($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 the United States (+1.4%), while the prices for the other major destinations experienced a decline.

Baryte Imports

Imports into Pakistan

In 2021, overseas purchases of barytes increased by 2.9% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when imports increased by 338%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, baryte imports surged to $X in 2021. Overall, imports, however, saw a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 150%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Turkey (X tons) were the main suppliers of baryte imports to Pakistan.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +8.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest baryte suppliers to Pakistan were China ($X), Japan ($X) and Turkey ($X).

In terms of the main suppliers, Japan, with a CAGR of +12.8%, recorded the highest growth rate of the value of imports, 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, rising by 27% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.0% 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 +84.6% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 46%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+25.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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