Barium Or Aluminium Sulphates Market

The article provides an in-depth analysis of the global market for barium or aluminium sulphates, highlighting trends in consumption, production, imports, and exports. With a forecasted CAGR of +4.4% for volume and +6.9% for value from 2022 to 2030, the market is expected to see continued growth. Key insights include the largest consuming countries (China, India, United States), production trends, import and export data, as well as average prices per ton. Overall, the market is projected to reach 8M tons and $4.4B in value by 2030.

Market Forecast

Driven by increasing demand for sulphates of barium or aluminium worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market volume to 8M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.9% for the period from 2022 to 2030, which is projected to bring the market value to $4.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sulphates Of Barium Or Aluminium

Global barium or aluminium sulphates consumption shrank to 5.7M tons in 2022, approximately equating the year before. The total consumption volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the maximum volume at 6.8M tons in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

The global barium or aluminium sulphates market value reduced to $2.6B in 2022, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs at $3.3B in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

China (1.5M tons) remains the largest barium or aluminium sulphates consuming country worldwide, accounting for 27% of total volume. Moreover, barium or aluminium sulphates consumption in China exceeded the figures recorded by the second-largest consumer, India (595K tons), threefold. The United States (575K tons) ranked third in terms of total consumption with a 10% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +5.8%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.7% per year) and the United States (+3.5% per year).

In value terms, China ($651M), Japan ($577M) and the United States ($303M) constituted the countries with the highest levels of market value in 2022, together accounting for 59% of the global market.

China, with a CAGR of +7.5%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of barium or aluminium sulphates per capita consumption in 2022 were Italy (3.2 kg per 1000 persons), Germany (2.1 kg per 1000 persons) and Japan (2 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Italy (with a CAGR of +7.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sulphates Of Barium Or Aluminium

In 2022, global production of sulphates of barium or aluminium dropped to 5.6M tons, almost unchanged from 2021. The total output volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 18%. Global production peaked at 6.6M tons in 2017; however, from 2018 to 2022, production failed to regain momentum.

In value terms, barium or aluminium sulphates production fell modestly to $2.5B in 2022 estimated in export price. Overall, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +0.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. Over the period under review, global production attained the maximum level at $3.4B in 2016; however, from 2017 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of barium or aluminium sulphates production was China (1.7M tons), comprising approx. 30% of total volume. Moreover, barium or aluminium sulphates production in China exceeded the figures recorded by the second-largest producer, India (585K tons), threefold. The third position in this ranking was held by the United States (559K tons), with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to +4.9%. In the other countries, the average annual rates were as follows: India (+4.6% per year) and the United States (+3.4% per year).

Imports

World Imports of Sulphates Of Barium Or Aluminium

Global barium or aluminium sulphates imports dropped to 740K tons in 2022, which is down by -2.7% on 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. As a result, imports attained the peak of 822K tons. From 2018 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, barium or aluminium sulphates imports shrank slightly to $364M in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 29%. As a result, imports reached the peak of $377M, and then reduced in the following year.

Imports By Country

In 2022, France (59K tons), followed by the United States (35K tons) were the major importers of sulphates of barium or aluminium, together committing 13% of total imports. Austria (31K tons), India (26K tons), Singapore (23K tons), Germany (23K tons), Ukraine (20K tons), Malaysia (20K tons), Hong Kong SAR (18K tons), Sweden (17K tons), Japan (17K tons), Iraq (16K tons) and Italy (15K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +16.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($32M), India ($22M) and Germany ($14M) constituted the countries with the highest levels of imports in 2022, together comprising 19% of global imports. Japan, France, Italy, Austria, Malaysia, Ukraine, Sweden, Hong Kong SAR, Singapore and Iraq lagged somewhat behind, together accounting for a further 21%.

Ukraine, with a CAGR of +15.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average barium or aluminium sulphates import price stood at $492 per ton in 2022, remaining constant against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22% against the previous year. As a result, import price reached the peak level of $495 per ton, leveling off in the following year.

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 the United States ($898 per ton), while Singapore ($142 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+7.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sulphates Of Barium Or Aluminium

In 2022, the amount of sulphates of barium or aluminium exported worldwide reached 674K tons, almost unchanged from 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 27% against the previous year. The global exports peaked at 708K tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, barium or aluminium sulphates exports reached $259M in 2022. The total export value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 22%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports By Country

China represented the major exporting country with an export of around 193K tons, which finished at 29% of total exports. It was distantly followed by Turkey (91K tons), Sweden (49K tons) and Indonesia (39K tons), together achieving a 27% share of total exports. The Netherlands (30K tons), Belgium (25K tons), Germany (24K tons), Spain (24K tons), Belarus (20K tons), the United States (18K tons), India (16K tons), Slovenia (16K tons) and the Czech Republic (13K tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of sulphates of barium or aluminium. At the same time, Turkey (+28.5%), India (+4.9%), Belgium (+4.3%), Belarus (+3.4%) and Sweden (+2.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +28.5% from 2012-2022. The United States, the Czech Republic and Indonesia experienced a relatively flat trend pattern. By contrast, Spain (-2.0%), the Netherlands (-2.6%), Germany (-2.7%) and Slovenia (-3.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +12 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($107M) remains the largest barium or aluminium sulphates supplier worldwide, comprising 42% of global exports. The second position in the ranking was held by Turkey ($22M), with an 8.6% share of global exports. It was followed by Sweden, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +4.4%. In the other countries, the average annual rates were as follows: Turkey (+30.7% per year) and Sweden (+2.8% per year).

Export Prices By Country

The average barium or aluminium sulphates export price stood at $384 per ton in 2022, growing by 1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($558 per ton), while Belarus ($121 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform