United Kingdom: Baryte Market 2024

Baryte Market Size in the UK

In 2021, the UK baryte market decreased by -17.3% to $X, falling for the third year in a row after two years of growth. Overall, consumption saw a perceptible setback. Baryte consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Baryte Production in the UK

In value terms, baryte production dropped slightly to $X in 2021 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.6% against 2018 indices. The growth pace was the most rapid in 2015 when the production volume increased by 57% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Baryte Exports

Exports from the UK

In 2020, after two years of decline, there was significant growth in shipments abroad of barytes, when their volume increased by 104% to X tons. In general, exports, however, recorded a abrupt slump. The exports peaked at X tons in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

In value terms, baryte exports skyrocketed to $X in 2020. Overall, exports, however, continue to indicate a abrupt contraction. The exports peaked at $X in 2012; however, from 2013 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

Ghana (X tons) was the main destination for baryte exports from the UK, with a 28% share of total exports. Moreover, baryte exports to Ghana exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Malaysia (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2020, the average annual growth rate of volume to Ghana totaled +113.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-13.7% per year) and Malaysia (+86.3% per year).

In value terms, Ghana ($X), the Netherlands ($X) and Namibia ($X) constituted the largest markets for baryte exported from the UK worldwide, together comprising 33% of total exports. These countries were followed by Cyprus, Poland, Austria, Germany, Falkland Islands (Malvinas), Mozambique, Greece, the United Arab Emirates, Italy and Malaysia, which together accounted for a further 37%.

Cyprus, with a CAGR of +113.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the average baryte export price amounted to $X per ton, waning by -23.1% against the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2015 an increase of 18% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2020, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2020, amid the top suppliers, the country with the highest price was Namibia ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Namibia (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Baryte Imports

Imports into the UK

In 2021, purchases abroad of barytes decreased by -47.5% to X tons, falling for the third year in a row after two years of growth. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of 80%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, baryte imports surged to $X in 2021. In general, imports showed a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 75%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest baryte supplier to the UK, accounting for a 81% share of total imports. Moreover, baryte imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was held by Morocco (X tons), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-28.2% per year) and Morocco (-38.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of barytes to the UK, comprising 36% of total imports. The second position in the ranking was taken by China ($X), with a 4.3% share of total imports. It was followed by Germany, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-25.7% per year) and Germany (+14.4% per year).

Import Prices by Country

In 2021, the average baryte import price amounted to $X per ton, increasing by 125% against the previous year. Overall, the import price recorded a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for Morocco ($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 (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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