About Barite
Barite is a Mineral Comprising of Barium Sulfate (BaSO4). The Colour of Barite may vary from Colourless to White & Light Shades of Yellow, Blue, Brown & Grey. It finds its usage in the Production of Ceramics, Fine Chemicals, Alloys, Glass, Cement, Electronics, Vinyl Stabilizers, Railroad Flares, Fireworks, Lubricating Oil Additives, & Permanent Magnets, as well as in Sugar Refining, Arc Welding, Paper Coating, & Together with Zinc Sulfide as a White Pigment in Paints
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | MEA |
Unit | Value (USD Million) |
CAGR | 3.9% |
The Market for the Barite is Fragmented with the Presence of Many Players. Owing to Booming Industrialization, there are Growing Prospects for the New Players to Enter the Market Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Barite market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Barium & Chemicals, Inc. (United States), Cimbar Performance Minerals (United States), VB Technochemicals SA (Switzerland), Desku Group Inc. (United States), International Earth Products LLC (United States), Seaforth Mineral & Ore Co. Inc. (United States), Spectrum Chemical Manufacturing Corporation (United States), Deutsche Baryt-Industrie Dr. Rudolf Alberti Gmbh & Co. Kg (Germany), Halliburton Company (United States) and Anglo Pacific Minerals (England) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are SCR-Sibelco N.V. (Belgium), Ashapura Group of Industries (India), Milwhite Inc. (United States), Mil-Spec Industries Corporation (United States), Divjyot Chemicals Private Limited (India) and Innova Corporate India (India).
Segmentation Overview
AMA Research has segmented the market of Global Barite market by Type (Powder, Crystal and Liquid), Application (Oil & Gas, Paints & Coatings, Pharmaceuticals, Rubber & Plastics, Textiles, Adhesives and Others) and Region.
On the basis of geography, the market of Barite has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). MEA region held largest market share in the year 2023. If we see Market by Deposit, the sub-segment i.e. Residual will boost the Barite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. Up to Grade 3.9 will boost the Barite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Applications of Barite in Different Industries like Electrical & Electronics, Rubber, Ceramics, Medical, & Glass
Market Growth Drivers:
Growth in the Oil & Gas Drilling Activities in many Countries, using Barite as a Weighting Agent by Increasing the Hydrostatic Pressure of the Drilling Mud and Rise in the Chemical & Plastics Industry Where Barite Is used as a Filler Material for Manufacturing Different Chemicals
Challenges:
Market Presence of Alternative Substances like Hematite, Ilmenite, & Galena
Restraints:
The Recent Economic Downturn in many Countries Affecting Various End-Use Industries
Opportunities:
There is an Increased Opportunity for the Utilisation of Barite in Automotive Industry, owing to its Smoothness & High Corrosion Resistance and There are Growth Prospects for Market Expansion, due to the Rising Usage of Barite as a Pigment, in Industries like Paint & Coatings, Textile, & Paper
Market Leaders and their expansionary development strategies
In 2021, Cimbar Performance Minerals, Inc., a division of United Minerals and Properties, Inc., announced the acquisition of TOR Mineral's North American assets and its barite and alumina trihydrate business. The acquisition will help the company expand its product portfolio. and In 2021, CIMBAR Performance Minerals, Inc., together with TOR Minerals International, Inc. and its associated businesses, has entered into an agreement to purchase TOR's barite and alumina trihydrate manufacturing assets located at its Corpus Christi, Texas facility.
In 2021, The Nigerian Ministry of Mining and Steel Development has announced the launch of Nigerian barite for the oil industry., In 2021, Turkish mining company CS Global Group has announced that it will build a new manufacturing facility in Moundsville, West Virginia. and In 2021, CIMBAR Performance Minerals Inc. plans to increase barite production at an additional site in Corpus Christi, Texas. The site is officially owned by Baker Hughes and will produce drilling grade barite.
Key Target Audience
Manufacturers of Barite, Distributors, Traders, & Suppliers, Importers & Exporters, Investors, Regulatory & Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.