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Barite Market

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Barite Market report categorizes the global market by Grade (Up to Grade 3.9, Grade 4.0, Grade 4.1, Grade 4.2, Grade 4.3, Grade above 4.3), by Color (Brown, White & Off-White, Grey, Others), by End-Use Industry (Oil & Gas, Paints & Coating, Pharmace
Global Barite Market | Size, Share, Trends & Industry
Forecast (2025)
Baryte or barite is a white or colorless mineral and is a major source of barium.
The barite group consists of anhydrite, baryte, celestine, and anglestite. Barite
can be commonly found in the lead-zinc veins in limestones and are deposited
through wide range of processes including, evaporation, hydrothermal, and
biogenic, among others. It is an industrial mineral that contains 34.3% sulfate
and 65.7% barium oxide when in pure form. The properties such as low
solubility, high density, chemical inertness, and low cost makes barite an
essential industrial mineral, with high demand in the oil and gas, paint and
coatings, and pharmaceutical industries.
Growing demand for oil and gas throughout the globe is the major factor driving
growth of the global barite market. Oil and gas accounts for the largest user of
barite, owing to its property as a weighing agent for drilling fluids. Growing
demand for oil and gas in the emerging economies so as to become energy
sufficient, is fueling growth of the oil and gas industry, in turn, augmenting
demand for barite. According to the International Energy, the global energy
demand is set to increase from 268 mboe/d in 2013 to 399 mboe/d by 2040.
Moreover, increasing demand for barite in the paints and coating and
pharmaceutical industries, is further expected to fuel growth of the barite
market. Furthermore, the low oil absorption and high brightness of barite makes
it desirable to be used in the pigments of paints and coatings for automobiles
and consumer goods. Hence, the growing automobile industry also contributes
to growth of the global barite market.
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Europe is the second largest market for barite, projected to witness a CAGR of
5.24% during the forecast period. The growth in the exploration and production
activities, especially in the North Sea has surged the barite market in the region.
Moreover, the dominant automobile and consumer goods industry in the region
has increased the demand for paint and coating in the region, which in turn is
significantly driving the barite market due to its major use in pigments in paint
and coating industry.
North America is the largest market for barite and is expected to retain its
dominance through 2025. North America barite market was valued at US$ 0.56
billion in 2016 and is expected to exhibit a CAGR of 6.21% over the forecast
period.
Among end-use industries, oil & gas was the largest segment in 2016 and is
expected to show the same trend during 2017–2025. Oil and gas held a market
share of 80.01% in 2016.
Major Players in the Global Barite Market:
Some of the major players in the market are Seaforth Mineral & Ore Co. Inc.,
CIMBAR Performance Minerals, Shijiazhuang Oushun Mineral Products
Company Limited, Excalibar Minerals LLC, Shanghai Titanos Industry
Company Limited. International Earth Products LLC. Spectrum Chemical
Manufacturing Corporation, Anglo Pacific Minerals, and Desku Group Inc,
For More Information: ​http://bit.ly/2kGN7PZ
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related to emerging market trends, technologies, and potential absolute dollar
opportunity.
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pallavi.reddy
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