Spain: Baryte Market 2024

Baryte Market Size in Spain

In 2021, after two years of decline, there was significant growth in the Spanish baryte market, when its value increased by 27% to $X. Overall, consumption posted prominent growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Baryte Production in Spain

In value terms, baryte production soared to $X in 2021 estimated in export price. In general, production, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Baryte Exports

Exports from Spain

For the fifth consecutive year, Spain recorded growth in shipments abroad of barytes, which increased by 3.8% to X tons in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.5% against 2014 indices. The pace of growth was the most pronounced in 2017 when exports increased by 30%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, baryte exports stood at $X in 2021. Overall, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +56.4% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Germany (X tons) and France (X tons) were the main destinations of baryte exports from Spain, with a combined 58% share of total exports. Turkey, the Czech Republic, Brazil, Portugal, Poland, India and China lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +124.5%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) appeared to be the largest markets for baryte exported from Spain worldwide, with a combined 54% share of total exports. Turkey, Brazil, the Czech Republic, Portugal, Poland, China and India lagged somewhat behind, together accounting for a further 33%.

In terms of the main countries of destination, India, with a CAGR of +101.4%, recorded the highest growth rate of 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

In 2021, the average baryte export price amounted to $X per ton, rising by 5.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 14% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to India ($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 China (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Baryte Imports

Imports into Spain

For the sixth consecutive year, Spain recorded growth in supplies from abroad of barytes, which increased by 8.8% to X tons in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.7% against 2013 indices. The growth pace was the most rapid in 2014 when imports increased by 26% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, baryte imports surged to $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.4% against 2016 indices. The growth pace was the most rapid in 2018 when imports increased by 20%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Morocco (X tons) constituted the largest supplier of baryte to Spain, accounting for a 62% share of total imports. Moreover, baryte imports from Morocco exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Morocco totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.9% per year) and Mexico (+75.7% per year).

In value terms, the largest baryte suppliers to Spain were Morocco ($X), China ($X) and Turkey ($X), together comprising 84% of total imports.

Turkey, with a CAGR of +66.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average baryte import price amounted to $X per ton, rising by 10% against the previous year. In general, the import price, however, recorded a mild shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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