Middle East: Baryte Market 2024

Baryte Market Size in the Middle East

In 2022, the Middle Eastern baryte market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, recorded a abrupt descent. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Baryte Production in the Middle East

In value terms, baryte production contracted to $X in 2022 estimated in export price. Over the period under review, production posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Baryte Exports

Exports in the Middle East

In 2022, shipments abroad of barytes increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports showed resilient growth. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, baryte exports surged to $X in 2022. Overall, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Turkey represented the key exporter of barytes in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by Iran (X tons), committing a X% share of total exports. Kuwait (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest baryte supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with an X% share of total exports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 Kuwait ($X per ton), while Iran ($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 mixed trends in the export price figures.

Baryte Imports

Imports in the Middle East

In 2022, after three years of decline, there was significant growth in overseas purchases of barytes, when their volume increased by X% to X tons. Total imports indicated prominent growth 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. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, baryte imports skyrocketed to $X in 2022. Total imports indicated a noticeable increase 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 reached the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, followed by Oman (X tons) and Iraq (X tons). All these countries together took near X% share of total imports. The following importers - Turkey (X tons) and Qatar (X tons) - together made up X% 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. Kuwait (X p.p.), Turkey (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total imports, while Iraq and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Kuwait, baryte imports expanded 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

In 2022, the import price in the Middle East amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, recorded a pronounced shrinkage. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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