Barite Market Research Report - Global Forecast Till 2027

Global Barite Market Research Report: By Application (Drilling Mud, Chemical Manufacturing, Paints & Polymers, Pharmaceuticals, and Others), and Region (Asia-Pacific, North America, Europe, Latin America, and Middle East and Africa) – Forecast till 2027

ID: MRFR/CnM/1503-HCR | February 2021 | Region: Global | 140 pages

Please note that the assessment period of report has been updated from 2017-2025 to 2020-2027. Cordially fill Sample form for the updated data.

Market Overview


Barite, or barium, is formed from the compounds of barium sulfate (BaSO4). It is generally colorless but is also found in several colors. It is present in the form of barite powder, white flakes, or crystals. The nations from where barite is majorly obtained are the US, China, India, and Morocco. Barite is used in the oil and gas industries as an agent that helps in the drilling process to uncover fluids. It is non-magnetic. Therefore, it does not hamper the process of magnetic computation.  Barite healing properties are well known by the users. It has a high density and is less soluble. It helps in the removal of many unwanted substances during the process of drilling.


The barite market was accounted for a total worth of USD 2.8 billion in the year 2018. It is foreseen that the global barite market will eventually rise with a CAGR of 5.82% throughout the period under analysis.


Covid19 Analysis


People across the globe are suffering from the covid19. It has adversely affected the functioning of all the industries, except for the pharmaceutical industry. The surveying in Research & Development of gas and oil industry has also lowered. The barite market has observed a sudden decline in manufacturing and demand at a global level. The Middle-East and some parts of the Asia-Pacific regions are highly affected by this decline in demand.


It is expected that, post the Covid19 situation, the global barite market will retrieve by the year 2022. There will be a slow but constant growth till that time. Barite chemical formula and fluids will be more in demand as the lockdown gets lifted in several nations.


Global Barite Market Share in 2018, by Application


Source: MRFR Analysis Market Segmentation


Market Dynamics


Drivers


Barite can be used in originating barium carbonate. This material is used in manufacturing the glass of LEDs. This glass is used globally in the production of televisions, monitor screens, screens of mobile phones, light bulbs, and other electronic products. The demand for such electronic devices is increasing regularly which becomes a major driving factor in the rising demand for barite. The drilling and extraction of oils and gasses are the major processes that are done with the usage of barite.


Opportunities


Barium sulfate is also used as a lubricating substance in many oils, paints, greasing products, plastic, rubbers, and other products. This has increased the demand for barite as barite is cost-effective, easy to handle, and is abundantly available. It is used in making medical equipment, such as x-ray and gamma-ray machines. It is because barite is very clean, and is highly absorbing in nature. This has proved to be a highly rewarding segment in the barite market at a global level.


Restraints


Many nations across the globe are imposing a reduction in the mining processes. They have limited the extraction of minerals and other compounds because it may prove to be hazardous for the environment is carried out in long run. This is the major restraint in the barite market at a global level because it increases the barite price. Finding substitute materials for barite is also another threat to the market.


Value Chain Analysis


The nations in Asia-pacific and Middle-East regions are developing their infrastructures rapidly. This has led to an increased demand for construction materials such as paints, lubricants, plastic, rubber materials, and other things. This will eventually increase the demand for barite. Barite is also used in removing unwanted substances as it acts as a purifying agent in electro-ceramics. It is also used in cleansing phosphoric acid.


Market Segmentation


The global market of barite can be divided into various segments. These are: based on form, based on color, and based on application.


Based on form


Barite, or barium sulfate, is found in two forms, namely, powder and crystals. The powder form has dominated the market share to date. Barite is used as a filling substance in the plastic and rubber industry. Plastic and rubber materials are required in every production industry. Thus, the demand for barite is also shooting up.


Based on color


Generally, the barite compound found is colorless. The various colors in which it is commonly seen are grey, yellow, white, blue, and brown. The grey color barite is found in the regions that are near seashores. The grey barite is utilized during the extraction of oil.


Based on application


Barite is globally used in industries such as oil & drilling, paints & coatings, rubber & plastic, textile & clothing. It is also used in the manufacturing of adhesive and other such substances. It is also utilized in the medical and pharmaceutical industries for developing x-ray machines and other medical equipment.


Regional Analysis


Barite market size is increasing with every passing day. It is leaving its impression in every corner of the world. The regions where they are operating include America, Europe, Asia-pacific, and the rest of the world.


Asia-Pacific region, which includes China, Japan, India, Australia, and South Korea, is a huge production hub of barite. This region held the largest market share in the year 2018 and is foreseen to hold the lion share throughout the forecasted period. This owns to the fact of the low industrial cost of production and availability of low-wage laborers, increase in consumption due to development of infrastructure, and a rise in demand for construction material. The origination of oil & gas is most apparently found in the regions such as China, Indonesia, South Korea, Australia, and India.


The new motto of the ‘Make in India’ campaign which is being run in India also promotes the in-house manufacturing of plastic as well as electronic devices. This has boosted the barite market within the Indian borders.


America, which includes the area of North America (the US and Canada) and Latin America, and the European region which includes Germany, UK, France, Russia, and Italy, is growing its market share of barite market. The increase in investment in the Research & Development of medical advancements is the primary reason for this. Mud drilling activities have also increased recently in this region, therefore, increasing in demand for barite.


The rest of the world, which includes regions of the Middle East and Africa, is showing faster growth because of the presence of an abundance of oil well and natural reservoirs. Barite is highly consumed in areas such as Dubai, Qatar, and UAE.


Competitive Landscape


The list of major global key players involved in data analysis of the barite market is as follows:



  • The Cary Company (US)

  • Milwhite, Inc. (US)

  • Halliburton (US)

  • DESKU GROUP INC. (US)

  • APMDC - The Andhra Pradesh Mineral Development Corporation Limited(India)

  • Ashapura Minechem Group (India)

  • Kaomin Industries LLP (India)

  • Mil-Spec Industries Corporation (US)

  • International Earth Products LLC (US)

  • Dev International (India)

  • Schlumberger Limited

  • Excalibar Minerals LL C

  • Sojitz Corporation

  • Baker Hughes Incorporated

  • Anglo Pacific Minerals


As the completion is increasing with every passing day, the above-listed companies come together in joint ventures, mergers and, acquisitions to launch new techniques and processes for utilizing barite. Their main objective is to deliver the end-product of good quality that is cost-effective and less hazardous to the environment.


Recent Developments


The various recent activities found in the global barite market analysis are as follows:


On 26 April of the year 2019, CIMBAR Performance Minerals Inc. expanded its operation in Marietta, Ohio (US). This expansion has helped them to capture the northeast market, as barite was largely demanded in that region by oil manufacturing units. The maximum capacity that this new firm holds is about 125-150,000 TPA. CIMBAR has invested around USD 5.5 million in this project.


In September of the year 2019, Newpark Resources Inc. claimed the acquisition of Cleansorb Limited (UK). Both the companies specialized in oil & gas operations.


The Andhra Pradesh Mineral Development Corporation Limited (India) is the largest manufacturing hub of barite. It is developing new techniques and processes for utilizing barite.


Milwhite, Inc., a US-based organization is using barite for mud drilling activities.


Report Overview


This market research report of barite market includes the following elements:



  • Market Overview

  • COVID19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape


Recent Developments


This research report enumerates how barite is obtained from barium sulfate. It is present in the form of barite powder, white flakes, or crystals. This material is used in manufacturing the glass of LEDs. This glass is used in the production of televisions, monitor screens, screens of mobile phones, light bulbs, etc. it is also used as a lubricating substance in many oils, paints, greasing products, plastic, rubbers, and other products. The Asia-pacific region is foreseen to hold the lion share throughout the forecasted period.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2018: USD 2.8 Billion
  • 2027: Significant value
  •   CAGR   5.82 %(2017–2025)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Application and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   The Cary Company (US), Milwhite, Inc. (US), Halliburton (US), DESKU GROUP INC. (US), APMDC (India), Ashapura Group (India), Kaomin Industries LLP (India), Mil-Spec Industries Corporation (US), International Earth Products LLC (US), and Dev International (India)
      Key Market Opportunities

  • Barite’s high density
  • Low solubility
  • Brightness or whiteness
  • Softness
  • Chemical inertness
  • Low cost
  •   Key Market Drivers   Regulatory restrictions in the mining of barite and availability of substitutes such as iron ore and celestite


    Frequently Asked Questions (FAQ) :


    The bio-lubricants market is predicted to grow at a 5.82% CAGR between 2017-2025.

    Notable players profiled in the barite market include Dev International (India), International Earth Products LLC (US), Mil-Spec Industries Corporation (US), Kaomin Industries LLP (India), Ashapura Group (India), APMDC (India), APMDC (India), DESKU GROUP INC. (US), Halliburton (US), Milwhite, Inc. (US), and The Cary Company (US).

    Regulatory restrictions in the mining of barite and availability of substitutes such as iron ore and celestite may deter the barite market growth.

    Asia Pacific is predicted to lead the barite market during the forecast period.

    Key players have adopted various strategies such as mergers and acquisitions, collaborations, joint ventures, product innovations, and R&D activities to create a niche in the barite market.

    TABLE OF CONTENTS

    1 Executive Summary

    2 Market Introduction

    2.1 Market Definition

    2.2 Scope of the Study

    2.3 List of Assumptions

    2.4 Markets Structure

    3 Market Research Methodology

    3.1 Research Process

    3.2 Primary Research

    3.3 Secondary Research

    3.4 Market Size Estimation

    3.5 Forecast Model

    4 Market Dynamics of the Global Barite Market

    4.1 Introduction

    4.2 Drivers

    4.3 Restraints

    4.4 Opportunities

    4.5 Challenges

    4.6 Trends/Technology

    5 Market Factor Analysis of the Global Barite Market

    5.1 Supply Chain Analysis

    5.1.1 Raw Material Suppliers

    5.1.2 Manufacturers/Producers

    5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

    5.1.4 End User

    5.2 Porter’s Five Forces Analysis

    5.2.1 Threat of New Entrants

    5.2.2 Bargaining Power of Buyers

    5.2.3 Bargaining Power of Suppliers

    5.2.4 Threat of Substitutes

    5.2.5 Intensity of Competitive Rivalry

    5.2 Pricing Analysis , By Region, USD/tons

    6. Global Barite Market, by Application

    6.1 Introduction

    6.2 Drilling Mud

    6.2.1 Market Estimates & Forecast, 2020-2027

    6.2.2 Market Estimates & Forecast, by Region, 2020-2027

    6.3 Chemical Manufacturing

    6.3.1 Market Estimates & Forecast, 2020-2027

    6.3.2 Market Estimates & Forecast, by Region, 2020-2027

    6.4 Paints & Polymers

    6.4.1 Market Estimates & Forecast, 2020-2027

    6.4.2 Market Estimates & Forecast, by Region, 2020-2027

    6.5 Pharmaceuticals

    6.5.1 Market Estimates & Forecast, 2020-2027

    6.5.2 Market Estimates & Forecast, by Region, 2020-2027

    6.5 Others

    6.5.1 Market Estimates & Forecast, 2020-2027

    6.5.2 Market Estimates & Forecast, by Region, 2020-2027

    7. Global Barite Market, by Region

    7.1 Introduction

    7.2 North America

    7.2.1 Market Estimates & Forecast, 2020-2027

    7.2.2 Market Estimates & Forecast, by Application, 2020-2027

    7.2.3 US

    7.2.3.1 Market Estimates & Forecast, 2020-2027

    7.2.3.2 Market Estimates & Forecast, by Application, 2020-2027

    7.2.4 Canada

    7.2.4.1 Market Estimates & Forecast, 2020-2027

    7.2.4.2 Market Estimates & Forecast, by Application, 2020-2027

    7.3 Europe

    7.3.1 Market Estimates & Forecast, 2020-2027

    7.3.2 Market Estimates & Forecast, by Application, 2020-2027

    7.3.3 Germany

    7.3.3.1 Market Estimates & Forecast, 2020-2027

    7.3.3.2 Market Estimates & Forecast, by Application, 2020-2027

    7.3.4 France

    7.3.4.1 Market Estimates & Forecast, 2020-2027

    7.3.4.2 Market Estimates & Forecast, by Application, 2020-2027

    7.3.5 Italy

    7.3.5.1 Market Estimates & Forecast, 2020-2027

    7.3.5.2 Market Estimates & Forecast, by Application, 2020-2027

    7.3.6 Spain

    7.3.6.1 Market Estimates & Forecast, 2020-2027

    7.3.6.2 Market Estimates & Forecast, by Application,2020-2027

    7.3.7 UK

    7.3.7.1 Market Estimates & Forecast, 2020-2027

    7.3.7.2 Market Estimates & Forecast, by Application,2020-2027

    7.3.8 Russia

    7.3.8.1 Market Estimates & Forecast, 2020-2027

    7.3.8.2 Market Estimates & Forecast, by Application,2020-2027

    7.3.9 Poland

    7.3.9.1 Market Estimates & Forecast, 2020-2027

    7.3.9.2 Market Estimates & Forecast, by Application, 2020-2027

    7.3.10 Rest of Europe

    7.3.10.1 Market Estimates & Forecast, 2020-2027

    7.3.10.2 Market Estimates & Forecast, by Application, 2020-2027

    7.4 Asia-Pacific

    7.4.1 Market Estimates & Forecast, 2020-2027

    7.4.2 Market Estimates & Forecast, by Application, 2020-2027

    7.4.3 China

    7.4.3.1 Market Estimates & Forecast, 2020-2027

    7.4.3.2 Market Estimates & Forecast, by Application, 2020-2027

    7.4.4 India

    7.4.4.1 Market Estimates & Forecast, 2020-2027

    7.4.4.2 Market Estimates & Forecast, by Application, 2020-2027

    7.4.5 Japan

    7.4.5.1 Market Estimates & Forecast, 2020-2027

    7.4.5.2 Market Estimates & Forecast, by Application, 2020-2027

    7.4.6 Australia & New Zealand

    7.4.6.1 Market Estimates & Forecast, 2020-2027

    7.4.6.2 Market Estimates & Forecast, by Application, 2020-2027

    7.4.7 Rest of Asia-Pacific

    7.4.7.1 Market Estimates & Forecast, 2020-2027

    7.4.7.2 Market Estimates & Forecast, by Application, 2020-2027

    7.5 Middle East & Africa

    7.5.1 Market Estimates & Forecast, 2020-2027

    7.5.2 Market Estimates & Forecast, by Application, 2020-2027

    7.5.3 GCC

    7.5.3.1 Market Estimates & Forecast, 2020-2027

    7.5.3.2 Market Estimates & Forecast, by Application, 2020-2027

    7.5.4 Israel

    7.5.4.1 Market Estimates & Forecast, 2020-2027

    7.5.4.2 Market Estimates & Forecast, by Application, 2020-2027

    7.5.5 North Africa

    7.5.5.1 Market Estimates & Forecast, 2020-2027

    7.5.5.2 Market Estimates & Forecast, by Application, 2020-2027

    7.5.6 Turkey

    7.5.6.1 Market Estimates & Forecast, 2020-2027

    7.5.6.2 Market Estimates & Forecast, by Application, 2020-2027

    7.5.7 Rest of Middle East & Africa

    7.5.7.1 Market Estimates & Forecast, 2020-2027

    7.5.7.2 Market Estimates & Forecast, by Application, 2020-2027

    7.6 Latin America

    7.6.1 Market Estimates & Forecast, 2020-2027

    7.6.2 Market Estimates & Forecast, by Application, 2020-2027

    7.6.3 Brazil

    7.6.3.1 Market Estimates & Forecast, 2020-2027

    7.6.3.2 Market Estimates & Forecast, by Application, 2020-2027

    7.6.4 Argentina

    7.6.4.1 Market Estimates & Forecast, 2020-2027

    7.6.4.2 Market Estimates & Forecast, by Application, 2020-2027

    7.6.5 Mexico

    7.6.5.1 Market Estimates & Forecast, 2020-2027

    7.6.5.2 Market Estimates & Forecast, by Application, 2020-2027

    7.6.6 Rest of Latin America

    7.6.6.1 Market Estimates & Forecast, 2020-2027

    7.6.6.2 Market Estimates & Forecast, by Application, 2020-2027

    8. Company Landscape

    8.1 Introduction

    8.2 Market Strategy

    8.3 Key Development Analysis (Expansion/Merger & Acquisitions/Joint Venture/New Product Development/Agreement/Investment)

    9. Company Profiles

    9.1 The Cary Company

    9.1.1 Company Overview

    9.1.2 Financial Updates

    9.1.3 Product/Business Segment Overview

    9.1.4 Key Strategies

    9.1.5 Key Developments

    9.1.6 SWOT Analysis

    9.2 Milwhite, Inc.

    9.2.1 Company Overview

    9.2.2 Financial Updates

    9.2.3 Product/Business Segment Overview

    9.2.4 Key Strategies

    9.2.5 Key Developments

    9.2.6 SWOT Analysis

    9.3 Halliburton

    9.3.1 Company Overview

    9.3.2 Financial Updates

    9.3.3 Product/Business Segment Overview

    9.3.4 Key Strategies

    9.3.5 Key Developments

    9.3.6 SWOT Analysis

    9.4 DESKU GROUP INC.

    9.4.1 Company Overview

    9.4.2 Financial Updates

    9.4.3 Product/Business Segment Overview

    9.4.4 Key Strategies

    9.4.5 Key Developments

    9.4.6 SWOT Analysis

    9.5 APMDC

    9.5.1 Company Overview

    9.5.2 Financial Updates

    9.5.3 Product/Business Segment Overview

    9.5.4 Key Strategies

    9.5.5 Key Developments

    9.5.6 SWOT Analysis

    9.6 Ashapura Group

    9.6.1 Company Overview

    9.6.2 Financial Updates

    9.6.3 Product/Business Segment Overview

    9.6.4 Key Strategies

    9.6.5 Key Developments

    9.6.6 SWOT Analysis

    9.7 Kaomin Industries LLP

    9.7.1 Company Overview

    9.7.2 Financial Updates

    9.7.3 Product/Business Segment Overview

    9.7.4 Key Strategies

    9.7.5 Key Developments

    9.7.6 SWOT Analysis

    9.8 Mil-Spec Industries Corporation

    9.8.1 Company Overview

    9.8.2 Financial Updates

    9.8.3 Product/Business Segment Overview

    9.8.4 Key Strategies

    9.8.5 Key Developments

    9.8.6 SWOT Analysis

    9.9 International Earth Products LLC

    9.9.1 Company Overview

    9.9.2 Financial Updates

    9.9.3 Product/Business Segment Overview

    9.9.4 Key Strategies

    9.9.5 Key Developments

    9.9.6 SWOT Analysis

    9.10 Dev International

    9.10.1 Company Overview

    9.10.2 Financial Updates

    9.10.3 Product/Business Segment Overview

    9.10.4 Key Strategies

    9.10.5 Key Developments

    9.10.6 SWOT Analysis

    10. Conclusion

    LIST OF TABLES

    Table 1 Global Barite Market: by Region, 2020-2027

    Table 2 North America: Barite Market, by Country, 2020-2027

    Table 3 Europe: Barite Market, by Country, 2020-2027

    Table 4 Asia-Pacific: Barite Market. by Country, 2020-2027

    Table 5 Middle East & Africa: Barite Market, by Country, 2020-2027

    Table 6 Latin America: Barite Market, by Country, 2020-2027

    Table 7 Global Barite Application Market, by Regions, 2020-2027

    Table 8 North America: Barite Application Market, by Country, 2020-2027

    Table 9 Europe: Barite Application Market, by Country, 2020-2027

    Table10 Asia-Pacific: Barite Application Market, by Country, 2020-2027

    Table11 Middle East & Africa: Barite Application Market, by Country, 2020-2027

    Table12 Latin America: Barite Application Market, by Country, 2020-2027

    Table13 Global Application Market, by Region, 2020-2027

    Table14 North America: Barite Market, by Country, 2020-2027

    Table15 North America: Barite Market, by Application, 2020-2027

    Table16 Europe: Barite Market, by Country, 2020-2027

    Table17 Europe: Barite Market, by Application, 2020-2027

    Table18 Asia-Pacific: Barite Market, by Country, 2020-2027

    Table19 Asia-Pacific: Barite Market, by Application, 2020-2027

    Table20 Middle East & Africa: Barite Market, by Country, 2020-2027

    Table21 Middle East & Africa: Barite Market, by Application, 2020-2027

    Table22 Latin America: Barite Market, by Country, 2020-2027

    Table23 Latin America: Barite Market, by Application, 2020-2027

    LIST O FIGURES

    FIGURE 1 Global Barite Market Segmentation

    FIGURE 2 Forecast Research Methodology

    FIGURE 3 Five Forces Analysis of the Global Barite Market

    FIGURE 4 Value Chain of the Global Barite Market

    FIGURE 5 Share of the Global Barite Market in 2020, by Country

    FIGURE 6 Global Barite Market, 2020-2027,

    FIGURE 7 Global Barite Market Size, by Application, 2020

    FIGURE 8 Share of the Global Barite Market, by Application, 2020-2027