MENA: Baryte Market 2024

Baryte Market Size in MENA

In 2022, after two years of growth, there was significant decline in the MENA's baryte market, when its value decreased by X% to $X. Over the period under review, consumption, however, continues to indicate a abrupt decline. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Baryte Production in MENA

In value terms, baryte production shrank to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Baryte Exports

Exports in MENA

In 2022, approx. X tons of barytes were exported in MENA; picking up by X% against the previous year's figure. Total exports indicated a perceptible increase from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, baryte exports soared to $X in 2022. Total exports indicated noticeable 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, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Morocco (X tons) was the major exporter of barytes, mixing up X% of total exports. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Iran (X%).

From 2012 to 2022, average annual rates of growth with regard to baryte exports from Morocco stood at X%. At the same time, Iran (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. Iran (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Morocco saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Morocco ($X) remains the largest baryte supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

In Morocco, baryte exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Iran (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Baryte Imports

Imports in MENA

After three years of decline, purchases abroad of barytes increased by X% to X tons in 2022. In general, imports showed a tangible increase. Over the period under review, imports attained the peak figure 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. Total imports indicated a modest expansion 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. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

Kuwait prevails in imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons) and Iraq (X tons), together committing a X% share of total imports. Algeria (X tons), Turkey (X tons) and Qatar (X tons) held a minor share of total imports.

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, Turkey (X%), Qatar (X%), Oman (X%), the United Arab Emirates (X%) and Iraq (X%) displayed positive paces of growth. By contrast, Algeria (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), Turkey (X p.p.), Qatar (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iraq (X p.p.), the United Arab Emirates (X p.p.) and Algeria (X p.p.) displayed negative dynamics.

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

In Kuwait, baryte imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price, however, showed a pronounced decrease. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :