Barite Market Research Report - Global Forecast Till 2027

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

Barite Market Overview


The barite industry holds a market value of USD 2.8 billion during the barite market forecast period during the year 2018. It has also been marked that the barite market holds a CAGR of 5.82% during the forecast period.


Barite can also be called barium and is formed from barium sulfate and is generally colorless. The availability of low consumption due Australians but is also found in different colors. Barite is always found in amorphous, crystals or white flakes. Barite is generally famous in the regions of the United States, China, India, and especially in Morocco. Barite is generally used in both the oil and gas industry as here it is used in the drilling process for uncovering the liquid so present. The magnetic computation process so carried out is not hampered due to the non-magnetic nature of barite. It is very much famous for its healing properties. Barite is less soluble and is denser and is very much helpful for the removal of many unwanted substances which come out during the process of drilling.


COVID 19 ANALYSIS


People across the globe have suffered from COVID. It has largely affected all the industries but has affected the pharmaceutical industry. Deterioration in surveying up of research and lowering in the development of the oil and gas industry was marked. A decline in the manufacturing and production of barite in the industry was marked. A decrease in demand for barite has hugely affected the barite market size. Due to the deterioration of the expansion of market size, some of the regions especially the Middle East and the Asia Pacific regions faced many difficulties of production.


The market conditions will normalize after the COVID. Globally, a decrease and steady growth will be observed till then. The demand for barite chemical formula and fluids will increase as soon as the lockdown gets lifted. The government has imposed certain safety guidelines for the good fare of the nation.


COMPETITIVE LANDSCAPE


From the data analysis of the barite market, you will talk about the major key players operating in the market. Some of them are the 



  • Cary Company of the United States,

  • Milwhite, Inc. of the United States,

  • Halliburton of the United States,

  • DESKU GROUP Inc., of the United States,

  • The Andhra Pradesh Mineral Development Corporation Ltd of India,

  • Ashapura Minechem Group of India,

  • KaominIndustries LLP of India,

  • Mil-Spec Industries Corporation of the United States,

  • International Earth Products LLC of the United States,

  • Dev International of India,

  • Schlumberger Limited, Excalibar Minerals LLC,

  • Sojitz Corporation,

  • Baker Hughes Incorporated and

  • Anglo Pacific Minerals and many more.


These competitors merge and launch new techniques for using barite for different processes. The main aim of the industry is to manufacture good quality barite products which are cheap and are less harmful to the environment.


MARKET DYNAMICS


Drivers

Barite is used for the manufacturing of barium carbonate. It is also used for the production of glass of LEDs which is used for manufacturing televisions, screens of monitors as well as mobiles, bulbs, and many other electrical appliances. The use of electronic devices is widespread in the market which acts as a major driving force for expanding the barite market size. Extraction and drilling of oil and gas for several processes is the major application of barite.


Opportunities

The main purpose of barium sulfate is that it is used as a lubricating agent in oils, paints, greasing agents, plastics, and rubbers. Barite being cost-effective, handi and we'll accessible is in high demand which increases its opportunities in the barite industry. It is especially used as hospital equipment like in x-ray and gamma-ray machines. It is abundantly available and is extremely clean for which it has a good absorbing nature. Globally, it has been marked that barite covers the largest and the most dominant segment covering the large barite market share.


Challenges

Barite available at high prices has declined the production units. In search of a large-scale substitute for varied has become a major challenging factor for the expansion of business.


Cumulative growth

Availability at cost-effective prices were marked which was the major factor increasing the growth.


Restraints

Globally, it has been found that a reduction in the mining process has been so adopted which has deteriorated the market demand and also the barite market growth. As extraction of different new metals is harmful to the environment, solicitation in the drilling process was being put forward. This has become the major restraining factor for the market.


MARKET SEGMENTATION


By type

Globally, the barite industry can be classified into various types. They are classified based on form, color, and application. Based on form, barite or barium sulfate is divided into two forms: powder or crystals. It has been marked that the powder form has covered a large barite market share till now. Barite is majorly used for filling the substance in both plastics and rubber. Both these materials, plastics, and rubber are used for production. This increases the demand and helps in barite market size thus steering up the market growth. Based on the color large-scale, it has been marked that barite is colorless. Barite is available in various colors like grey, yellow, white, blue, and brown. The grey barite is found in areas near the seashores. Grey barite is used for extracting oil in huge amounts. Globally, barite is used in end-user industries like oil and drilling, paints and for coatings, rubber and plastic, textile, and clothing. It helps manufacture the adhesive and some other barite substances. It is used for medical and pharmaceutical end-users industries for the development of my-ray machines and producing other medical types of equipment.


By technology

Growth in technology-led to the intention of new end products from barite. Innovative things were manufactured.


VALUE CHAIN ANALYSIS


The regions of Asia-Pacific and the Middle East are rapidly growing in their architectural beauty and also their infrastructure. This has increased the barite market growth and also the demand for construction materials like paints, plastics, other lubricants, rubber agents, and other materials of barite. The use of such barite materials raises the demand. It is also used for the removal of unwanted substances as it is the purify=ying agent used in electro-ceramics. Barite is also helpful for cleansing phosphoric acid.


REGIONAL ANALYSIS


As per the barite market trends, it is marked that the expansion of market size is rising day by day. It has left its impression in every corner of the barite industry. The regions where barite is in high demand are America, some European regions, the Asia-Pacific region, and some other parts of the world. Some regions of Asia Pacific, which include China, Japan, India, Australia, and South Korean regions. The Asian region is marked to occupy a dominant market share during the forecast period. Here in this region, you will notice the low industrial cost for production and availability of low-wage workers and the rise in consumption due to the rise in infrastructural beauty. Origin of oil and gas is very much common in the region of China, some of the Japan and Indonesian region, and some of the Australian and South Korean region. The North American and Latin American region covers a large area. Here the rise in investment in research activities and its development of hospital advancements is the major reason for this. The rise in demand in this region takes place due to mud drilling activities. Other parts include the regions of the Middle East and African regions where the barite market experiences faster growth due to the maximum availability of oil wells and natural reservoirs. Barite is largely famous in the areas of Qatar, Dubai, and some regions of the United Arab Emirates.


RECENT DEVELOPMENTS


October 2021: The Nigerian government has launched a made-in-Nigeria barite initiative under the Ministry of Mines and Steel Development (MMSD). The event, according to the organizers, was aimed at promoting local content in order to stimulate the economy and generate additional income. According to them, the plan would not only raise Nigeria's profile among worldwide mining groups, but would also save the country $300 billion in annual import costs, while also creating work prospects for the country's teeming population. Barite is one of seven critical minerals that would help Nigeria's solid minerals sector realize its full potential. It is a critical element used in the oil and gas sector as a weighing agent to raise the density of drilling fluids, primarily for oil and gas exploration to reduce blowouts.

July 2021: Apollo Gold & Silver Corp. announced the completion of the acquisition of Pan American Minerals Inc., a wholly owned subsidiary of Pan American Silver Corp., of a 100 percent stake in the Waterloo Silver-Barite Project. Apollo has now acquired the rights to one of the largest undeveloped historic silver resources in the continental United States, establishing itself as a premier US-focused silver exploration and development business.


REPORT OVERVIEW


The report gives a clear scenario of the overall barite market growth. It gives a huge idea about the segmentation and the factors that have enhanced or deteriorated the market growth during the forecast period. It also highlights the formation of barium sulfate from barite. It gives information about its widespread use in the regions of certain countries. It elaborates about the competitors playing in the market and the regulatory restrictions so imposed for mining and the availability of its substitutes.



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


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    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