Southern Asia: Baryte Market 2024

Baryte Market Size in Southern Asia

The South Asian baryte market contracted to $X in 2021, with a decrease of -6.4% against the previous year. Overall, consumption, however, recorded a notable increase. As a result, consumption reached the peak level of $X, and then contracted in the following year.

Baryte Production in Southern Asia

In value terms, baryte production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced reduction. The growth pace was the most rapid in 2016 when the production volume increased by 36% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Baryte Exports

Exports in Southern Asia

In 2021, overseas shipments of barytes were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 96% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, baryte exports fell modestly to $X in 2021. Over the period under review, exports, however, saw a noticeable setback. The most prominent rate of growth was recorded in 2016 with an increase of 63%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

India prevails in exports structure, finishing at X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Pakistan (X tons), constituting an 8.6% share of total exports.

India experienced a relatively flat trend pattern with regard to volume of exports of barytes. At the same time, Pakistan (+23.2%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +23.2% from 2012-2021. Pakistan (+7.1 p.p.) significantly strengthened its position in terms of the total exports, while India saw its share reduced by -6.1% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest baryte supplier in Southern Asia, comprising 92% of total exports. The second position in the ranking was held by Pakistan ($X), with an 8% share of total exports.

In India, baryte exports declined by an average annual rate of -5.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, shrinking by -7.1% against the previous year. Over the period under review, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of 16%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (-2.8%).

Baryte Imports

Imports in Southern Asia

In 2021, purchases abroad of barytes increased by 27% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 52%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, baryte imports surged to $X in 2021. In general, imports, however, showed a abrupt downturn. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) was the main importer of barytes, constituting 74% of total imports. It was distantly followed by Bangladesh (X tons), making up a 21% share of total imports. Pakistan (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to baryte imports into India stood at -2.4%. At the same time, Bangladesh (+1.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +1.8% from 2012-2021. By contrast, Pakistan (-13.7%) illustrated a downward trend over the same period. While the share of Bangladesh (+6.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Pakistan (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported barytes in Southern Asia, comprising 80% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value in India stood at -8.3%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+7.6% per year) and Pakistan (-12.8% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, increasing by 8.8% against the previous year. In general, the import price, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2019 when the import price increased by 26%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+5.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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