GCC: Baryte Market 2024

Baryte Market Size in GCC

The GCC baryte market was finally on the rise to reach $X in 2022, after three years of decline. In general, consumption posted a notable increase. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Baryte Production in GCC

In value terms, baryte production rose slightly to $X in 2022 estimated in export price. The total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Baryte Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of barytes, when their volume decreased by X% to X tons. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then contracted significantly in the following year.

In value terms, baryte exports dropped dramatically to $X in 2022. In general, exports, however, continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The level of export peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Kuwait was the main exporting country with an export of around X tons, which resulted at X% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%) and Oman (X%). Bahrain (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to baryte exports from Kuwait stood at X%. At the same time, Oman (X%), Saudi Arabia (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Saudi Arabia (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) emerged as the largest baryte supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the export price figures.

Baryte Imports

Imports in GCC

In 2022, supplies from abroad of barytes increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports posted a strong increase. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, baryte imports soared to $X in 2022. Overall, imports recorded notable growth. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Oman (X%). Qatar (X tons) followed a long way behind the leaders.

Kuwait was also the fastest-growing in terms of the barytes imports, with a CAGR of X% from 2012 to 2022. At the same time, Qatar (X%), Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. While the share of Kuwait (X p.p.) and Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported barytes in GCC, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Kuwait stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, showed a noticeable shrinkage. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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