Price for Barium Sulphate (Barytes); Natural in the Philippines - 2023
Contents:
- Price for Barium Sulphate (Barytes); Natural in the Philippines (CIF) - 2022
- Imports of Barium Sulphate (Barytes); Natural in the Philippines
Price for Barium Sulphate (Barytes); Natural in the Philippines (CIF) - 2022
In 2022, the average barium sulphate (barytes); natural import price amounted to $286 per ton, surging by 2.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 18% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($370 per ton), while the price for China stood at $282 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Barium Sulphate (Barytes); Natural in the Philippines
In 2022, supplies from abroad of barium sulphate (barytes); naturals was finally on the rise to reach 2.6K tons after two years of decline. Overall, imports, however, saw a deep slump.
In value terms, barium sulphate (barytes); natural imports skyrocketed to $744K in 2022. Over the period under review, imports, however, saw a pronounced contraction.
Import of Barium Sulphate (Barytes); Natural in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 525 | 424 | 274 | 714 | 10.8% |
Thailand | 26.4 | 15.6 | 17.8 | 25.0 | -1.8% |
Hong Kong SAR | 59.1 | 57.6 | 63.1 | N/A | 3.3% |
Malaysia | 141 | 119 | 114 | N/A | -10.1% |
India | 31.7 | 33.6 | 71.3 | N/A | 50.0% |
Others | 8.1 | 6.1 | 5.3 | 4.9 | -15.4% |
Total | 791 | 656 | 545 | 744 | -2.0% |
Top Suppliers of Barium Sulphate (Barytes); Natural to the Philippines in 2022:
- China (2531.3 tons)
- Thailand (67.5 tons)
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In 2020, the global baryte market fell by 15%, hampered by a severe decline seen in the oil industry, which currently consumes 80% of the total baryte output. India remained the only country to maintain 2019 production figures. While the oil industry is set to operate at minimum production levels in the medium term, alternative chemical, coating, and construction baryte applications may emerge as market drivers.
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