South-Eastern Asia: Baryte Market 2024

Baryte Market Size in South-Eastern Asia

In 2021, the Southeast Asian baryte market increased by 6.1% to $X, rising for the fourth year in a row after four years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Baryte Production in South-Eastern Asia

In value terms, baryte production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 37% against the previous year. The level of production peaked at $X in 2020, and then fell in the following year.

Baryte Exports

Exports in South-Eastern Asia

In 2021, baryte exports in South-Eastern Asia fell dramatically to X tons, with a decrease of -34.9% on the previous year. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by 82%. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, baryte exports reduced dramatically to $X in 2021. In general, exports saw a deep downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 53% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Thailand prevails in exports structure, reaching X tons, which was approx. 84% of total exports in 2021. It was distantly followed by Vietnam (X tons), creating an 8.5% share of total exports. The following exporters - Malaysia (X tons) and Singapore (X tons) - each reached a 5.3% share of total exports.

Thailand was also the fastest-growing in terms of the barytes exports, with a CAGR of +8.3% from 2012 to 2021. Malaysia (-8.2%), Singapore (-24.0%) and Vietnam (-28.4%) illustrated a downward trend over the same period. Thailand (+68 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Vietnam saw its share reduced by -9.2% and -58.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest baryte supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Singapore, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand amounted to +2.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (-22.9% per year) and Singapore (-20.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 8.9% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat 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 Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.7%), while the other leaders experienced mixed trends in the export price figures.

Baryte Imports

Imports in South-Eastern Asia

In 2021, the amount of barytes imported in South-Eastern Asia expanded notably to X tons, surging by 14% on the previous year. In general, imports, however, showed a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of 31% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, baryte imports soared to $X in 2021. Overall, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia (X tons) and Malaysia (X tons) represented the major importers of barytes in 2021, finishing at approx. 38% and 33% of total imports, respectively. Thailand (X tons) took the next position in the ranking, distantly followed by Vietnam (X tons). All these countries together held approx. 23% share of total imports. Brunei Darussalam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +26.9%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Indonesia ($X), Malaysia ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 83% of total imports. Vietnam and Brunei Darussalam lagged somewhat behind, together accounting for a further 14%.

Vietnam, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, growing by 8.4% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 15% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brunei Darussalam (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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