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Barite Market, by Color

RA00038

Barite Market, by Color (Brown, Grey, White & Off-White and Others), by Deposit Type (Bedding, Cavity Filling, Residual and Vein), by Grade (Up to grade 3.9, Grade 4.0, Grade 4.1, Grade 4.2, Grade 4.3, and Grade above 4.3) by End User Industry (Adhesives, Oil & drilling, Pharmaceuticals, Paints & coatings, Rubber & plastics, Textiles, and Others) Regional Analysis (North America, Europe, Asia Pacific, LAMEA) Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00038

Pages: 165

Jan 2020

COVID-19

pandemic has shown to have an enormous impact on most
industries.

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Impact of covid-19 on Barite Market

Global Barite Market size was of $ 2688.0 Million in 2018, and is estimated to reach up to $ 4316.7 Million, growing at a CAGR of 6.1% by the end of year 2026.

Market Definition:

Barite (Baryte) is a primary, naturally occurring mineral which is into orthorhombic crystalline form. These minerals mainly found in sedimentary rocks. This Mineral can be considered as an important industrial mineral of composition BaSO4. It is used as a weighting agent for the drilling muds mainly in the oil industry. Also, this mineral has other industrial application in industries such as medical industry, glass making industry, paper and rubber industries and many others

Barite Market Drivers:

Rising demand for energy, coupled with versatile properties of barite giving significant boost to the growth of Global market.

Gas & oil sector is identified as a biggest sector in the globe. Thus, global barite market is expected to grow vastly as it is most commonly used in this sector as a weighting agent for the purpose of drilling mud. The world's dependence on gas & oil and is rising as infrastructure and global economies continue to dependent on petroleum-based products. For instance, as per estimation of World Oil, the world’s drilling activity can be increase by 2.5 percent as 46,209 wells predicted to be drilled by the end of year 2019.

Barites is one of the most versatile minerals used in medical industry due to key factors such as admirable absorption capability of gamma rays as well as X-rays. In addition, ultrapure barite can be utilized in computed tomography examinations of the gastrointestinal tract. Also these barium compounds are used as fillers in industrial products including, paint, rubber, and glass, ceramics high density concrete and others.

Market Restraints:

Substitutes for the barites such as iron ore & strontium sulfate will pose a severe threat to the growth of Global Barite Market

Celestite (strontium sulfate, SrSO4) ilmenite, synthetic hematite and iron ore these are the alternatives of barite can be considered as threat to the Barite market. Moreover, the operational cost of these substitutes is less as compare to barite. So, it is expected to decline the growth of global barite market.

Investment Opportunities in Barite Market:

Government initiatives for barites will provide significant investment opportunities for the growth of global barite market.

Government of India is giving appropriate attention for the improvements of minerals which are used in industries such as barite, iron ores and others. Moreover, they are providing incentives as well as supporting the key players in barite market, in order to create new opportunities for the investors.

Barite Market Segmentation, by Color:

Global brown barite market segment will possess high investment opportunities in the coming future

Barite Market Segmentation, by Color

Source: Research Analysis

Brown Barite market generated a revenue of $806.4 million in 2018, and is further barite market forecasts upto $1324.6 by the year of 2026. The brown barite is majorly consumed for petroleum well drillings along with vein filling.

Barite Market, by Deposit type:

Residual segment is predicted to be most lucrative till the end of 2026

Barite Market, by Deposit type

Source: Research Analysis

Residual deposit type baryte market registered a revenue of $860.2 million in 2018, and is further anticipated to reach upto $1412.9 by the year of 2026. Residual barites are easily available as compare to other residual type. On the other hand, vein mining and other mining types are intricate process and costly.

Barite Market, by Grade:

Grade 4.3 segment is will generate revenue of 3121.2 by the year of 2026

Barite Market, by Grade

Source: Research Analysis

Grade 4.3 barite market registered a revenue of $645.1 million in 2018, and is further anticipated to reach upto $1043.8 by the year of 2026. Grade 4.3 is widely used in applications such as sound proofing material, computer monitors along with automobile application such as manufacturing of brake linings.

Barite Market, by End Use Industry:

Oil & drilling segment will create high investment opportunities in the upcoming decade

Barite Market, by End Use Industry

Source: Research Analysis

Oil and gas industry barite market was accounted for of $564.5 million in 2018, and is further projected to reach upto $906.5 by the year of 2026. Growing demand for the energy across the all nations, global demand for gas & oil are increasing at a swift pace, these are the key factors which can upsurge the market growth.

Regional Growth of Barite Market:

North America market will reach up to $1285.3 Million by the end of 2026:

North America barite market share was $806.4 million in 2018 and is further estimated to generate revenue of $1285.3 million by 2026. According to Voyageur pvt ltd publications, the industrial high-grade barite market in the US & Canada is around 400,000 tonnes/year. Around 77% of the total mined barite around the globe is utilized as a weighting agent for drilling fluids in gas and oil exploration. Barites found in this mine has some key elements such as pigment enhancer for paints and resistant for moisture. Due to aforementioned factors it is expected to drive the barite market growth.

Asia Pacific Barite Market

Asia Pacific region will have enormous opportunities for the market investors to grow over the coming years

Asia Pacific Barite market registered revenue of $591.4 million in 2018 and is further anticipated to reach upto $978.7 million by the end 2026. Key factors such as increasing consumption in oil & gas, extensive number of mines of barites in Asian countries along with rising manufacturing of electronics such as LED panels, televisions, laptops can spur the growth of the market. Also, huge market of pharmaceutical, paint & rubber industries can drive the market of barite.

Key Participants and Recent Development in Global Barite Market:

Product development and joint ventures are the most common strategies followed by the market players

Key Participants and Recent Development in Global Barite Market

Source: Research Analysis

The barite industry key players include Apmdc, Desku Group Inc., Ashapura Group., Halliburton Co., International Earth Products llc, Excalibar Minerals llc, Kaomin Industries, Mil-Spec Industries Corporation, Seaforth Mineral & Ore Co. Inc., Milwhite Inc. These players are initiating various steps in order strengthen their presence such as merger & acquisitions, new product development. For instance, in April 2017 Excalibar Minerals LLC introduced ExBar HD Series of Barium Sulfate. This barite is cheap in cost with the properties such as improved adhesion and thermal stability.

Scope of the Market Report:

  Aspect

Particulars

   Historical Market Estimations

   2016-2018

   Base Year for Market Estimation

   2018

   Forecast timeline for Market Projection

   2019-2026

   Geographical Scope

   North America, Europe, Asia-Pacific, LAMEA

   Segmentation by Color

  • Brown
  • Grey
  • White & Off White
  • Others

   Segmentation by Deposit Type

  • Bedding
  • Cavity Filling
  • Residual
  • Vein

   Segmentation by Grade

  • Grade 3.9
  • Grade 4.0
  • Grade 4.1
  • Grade 4.2
  • Grade 4.3
  • Grade above 4.3

   Segmentation by End Use Industry

  • Adhesives
  • Oil & Drilling
  • Pharmaceuticals
  • Paints & Coatings
  • Rubber & Plastics
  • Textiles
  • Others

   Key Countries covered

Australia, U.S. New Zealand, Canada Brazil, Germany, India, Ireland, Japan, Spain, the United Kingdom, Taiwan

   Key Companies Profiled

  • Apmdc
  • Desku Group Inc.
  • Ashapura Group.
  • Halliburton Co.
  • International Earth Products llc
  • Excalibar Minerals llc
  • Kaomin Industries
  • Mil-Spec Industries Corporation
  • Seaforth Mineral & Ore Co. Inc.
  • Milwhite Inc

 


FREQUENTLY ASKED QUESTIONS?
 

A. The global Barite market size was over $2688.0 million in 2018, and is further anticipated to reach $4316.7 million by 2026.

A. Excalibar Minerals llc. & Seaforth Mineral & Ore Co. Inc. are some of the key players in the Barite market.

A. Asia-Pacific region possess great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Asia-Pacific barite market is projected to grow at 6.5% CAGR during the forecast period.

A. Product development, and joint ventures are the key strategies opted by the operating companies in this market.

A. Desku Group Inc., Halliburton Co. and Seaforth Mineral & Ore Co. Inc. companies are investing more on R&D activities for developing new products and technologies.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters

1.4.1. Assumptions
1.4.2. Forecast parameters

1.5. Data sources

1.5.1. Primary
1.5.2. Secondary

2. Executive Summary

2.1. 360° summary
2.2. Color
2.3. Deposit Type
2.4. Grade
2.5. End Use Industry

3. Market overview

3.1. Market segmentation & definitions
3.2. Key takeaways

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porter’s five forces analysis

3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market

3.4. Market dynamics

3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities

3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Market value chain analysis

3.8.1. Stress point analysis

3.9. Strategic overview

4. Barite Market, by Color

4.1. Brown

4.1.1. Market size and forecast, by region, 2016-2026
4.1.2. Comparative market share analysis, 2018 & 2026

4.2. Grey

4.2.1. Market size and forecast, by region, 2016-2026
4.2.2. Comparative market share analysis, 2018 & 2026

4.3. White & Off white

4.3.1. Market size and forecast, by region, 2016-2026
4.3.2. Comparative market share analysis, 2018 & 2026

4.4. Others

4.4.1. Market size and forecast, by region, 2016-2026
4.4.2. Comparative market share analysis, 2018 & 2026

5. Barite Market, by Deposit Type

5.1. Bedding

5.1.1. Market size and forecast, by region, 2016-2026
5.1.2. Comparative market share analysis, 2018 & 2026

5.2. Cavity Filling

5.2.1. Market size and forecast, by region, 2016-2026
5.2.2. Comparative market share analysis, 2018 & 2026

5.3. Residual

5.3.1. Market size and forecast, by region, 2016-2026
5.3.2. Comparative market share analysis, 2018 & 2026

5.4. Vein

5.4.1. Market size and forecast, by region, 2016-2026
5.4.2. Comparative market share analysis, 2018 & 2026

6. Barite Market, by Grade

6.1. Grade 3.9

6.1.1. Market size and forecast, by region, 2016-2026
6.1.2. Comparative market share analysis, 2018 & 2026

6.2. Grade 4.0

6.2.1. Market size and forecast, by region, 2016-2026
6.2.2. Comparative market share analysis, 2018 & 2026

6.3. Grade 4.1

6.3.1. Market size and forecast, by region, 2016-2026
6.3.2. Comparative market share analysis, 2018 & 2026

6.4. Grade 4.2

6.4.1. Market size and forecast, by region, 2016-2026
6.4.2. Comparative market share analysis, 2018 & 2026

6.5. Grade 4.3

6.5.1. Market size and forecast, by region, 2016-2026
6.5.2. Comparative market share analysis, 2018 & 2026

6.6. Grade above 4.3

6.6.1. Market size and forecast, by region, 2016-2026
6.6.2. Comparative market share analysis, 2018 & 2026

7. Barite Market, by End Use Industry

7.1. Adhesives

7.1.1. Market size and forecast, by region, 2016-2026
7.1.2. Comparative market share analysis, 2018 & 2026

7.2. Oil & Drilling

7.2.1. Market size and forecast, by region, 2016-2026
7.2.2. Comparative market share analysis, 2018 & 2026

7.3. Pharmaceuticals

7.3.1. Market size and forecast, by region, 2016-2026
7.3.2. Comparative market share analysis, 2018 & 2026

7.4. Paints & Coatings

7.4.1. Market size and forecast, by region, 2016-2026
7.4.2. Comparative market share analysis, 2018 & 2026

7.5. Rubber & Plastics

7.5.1. Market size and forecast, by region, 2016-2026
7.5.2. Comparative market share analysis, 2018 & 2026

7.6. Textiles

7.6.1. Market size and forecast, by region, 2016-2026
7.6.2. Comparative market share analysis, 2018 & 2026

7.7. Others

7.7.1. Market size and forecast, by region, 2016-2026
7.7.2. Comparative market share analysis, 2018 & 2026

8. Barite Market, by Region

8.1. North America

8.1.1. Market size and forecast, by color, 2016-2026
8.1.2. Market size and forecast, by deposit type, 2016-2026
8.1.3. Market size and forecast, by grade, 2016-2026
8.1.4. Market size and forecast, by end use industry, 2016-2026
8.1.5. Market size and forecast, by country, 2016-2026

8.1.6. Comparative market share analysis, 2018 & 2026
8.1.7. U.S.

8.1.7.1. Market size and forecast, by color, 2016-2026
8.1.7.2. Market size and forecast, by deposit type, 2016-2026
8.1.7.3. Market size and forecast, by grade, 2016-2026
8.1.7.4. Market size and forecast, by end use industry, 2016-2026
8.1.7.5. Comparative market share analysis, 2018 & 2026

8.1.8. Canada

8.1.8.1. Market size and forecast, by color, 2016-2026
8.1.8.2. Market size and forecast, by deposit type, 2016-2026
8.1.8.3. Market size and forecast, by grade, 2016-2026
8.1.8.4. Market size and forecast, by end use industry, 2016-2026
8.1.8.5. Comparative market share analysis, 2018 & 2026

8.1.9. Mexico

8.1.9.1. Market size and forecast, by color, 2016-2026
8.1.9.2. Market size and forecast, by deposit type, 2016-2026
8.1.9.3. Market size and forecast, by grade, 2016-2026
8.1.9.4. Market size and forecast, by end use industry, 2016-2026
8.1.9.5. Comparative market share analysis, 2018 & 2026

8.2. Europe

8.2.1. Market size and forecast, by color, 2016-2026
8.2.2. Market size and forecast, by deposit type, 2016-2026
8.2.3. Market size and forecast, by grade, 2016-2026
8.2.4. Market size and forecast, by end use industry, 2016-2026
8.2.5. Market size and forecast, by country, 2016-2026
8.2.6. Comparative market share analysis, 2018 & 2026

8.2.7. Germany

8.2.7.1. Market size and forecast, by color, 2016-2026
8.2.7.2. Market size and forecast, by deposit type, 2016-2026
8.2.7.3. Market size and forecast, by grade, 2016-2026
8.2.7.4. Market size and forecast, by end use industry, 2016-2026
8.2.7.5. Comparative market share analysis, 2018 & 2026

8.2.8. Spain

8.2.8.1. Market size and forecast, by color, 2016-2026
8.2.8.2. Market size and forecast, by deposit type, 2016-2026
8.2.8.3. Market size and forecast, by grade, 2016-2026
8.2.8.4. Market size and forecast, by end use industry, 2016-2026
8.2.8.5. Comparative market share analysis, 2018 & 2026

8.2.9. France

8.2.9.1. Market size and forecast, by color, 2016-2026
8.2.9.2. Market size and forecast, by deposit type, 2016-2026
8.2.9.3. Market size and forecast, by grade, 2016-2026
8.2.9.4. Market size and forecast, by end use industry, 2016-2026
8.2.9.5. Comparative market share analysis, 2018 & 2026

8.2.10. Italy

8.2.10.1. Market size and forecast, by color, 2016-2026
8.2.10.2. Market size and forecast, by deposit type, 2016-2026
8.2.10.3. Market size and forecast, by grade, 2016-2026
8.2.10.4. Market size and forecast, by end use industry, 2016-2026
8.2.10.5. Comparative market share analysis, 2018 & 2026

8.2.11. Rest of the Europe

8.2.11.1. Market size and forecast, by color, 2016-2026
8.2.11.2. Market size and forecast, by deposit type, 2016-2026
8.2.11.3. Market size and forecast, by grade, 2016-2026
8.2.11.4. Market size and forecast, by end use industry, 2016-2026
8.2.11.5. Comparative market share analysis, 2018 & 2026

8.3. Asia-Pacific

8.3.1. Market size and forecast, by color, 2016-2026
8.3.2. Market size and forecast, by deposit type, 2016-2026
8.3.3. Market size and forecast, by grade, 2016-2026
8.3.4. Market size and forecast, by end use industry, 2016-2026
8.3.5. Market size and forecast, by country, 2016-2026
8.3.6. Comparative market share analysis, 2018 & 2026

8.3.7. China

8.3.7.1. Market size and forecast, by color, 2016-2026
8.3.7.2. Market size and forecast, by deposit type, 2016-2026
8.3.7.3. Market size and forecast, by grade, 2016-2026
8.3.7.4. Market size and forecast, by end use industry, 2016-2026
8.3.7.5. Comparative market share analysis, 2018 & 2026

8.3.8. Japan

8.3.8.1. Market size and forecast, by color, 2016-2026
8.3.8.2. Market size and forecast, by deposit type, 2016-2026
8.3.8.3. Market size and forecast, by grade, 2016-2026
8.3.8.4. Market size and forecast, by end use industry, 2016-2026
8.3.8.5. Comparative market share analysis, 2018 & 2026

8.3.9. India

8.3.9.1. Market size and forecast, by color, 2016-2026
8.3.9.2. Market size and forecast, by deposit type, 2016-2026
8.3.9.3. Market size and forecast, by grade, 2016-2026
8.3.9.4. Market size and forecast, by end use industry, 2016-2026
8.3.9.5. Comparative market share analysis, 2018 & 2026

8.3.10. Australia

8.3.10.1. Market size and forecast, by color, 2016-2026
8.3.10.2. Market size and forecast, by deposit type, 2016-2026
8.3.10.3. Market size and forecast, by grade, 2016-2026
8.3.10.4. Market size and forecast, by end use industry, 2016-2026
8.3.10.5. Comparative market share analysis, 2018 & 2026

8.3.11. South Korea

8.3.11.1. Market size and forecast, by color, 2016-2026
8.3.11.2. Market size and forecast, by deposit type, 2016-2026
8.3.11.3. Market size and forecast, by grade, 2016-2026
8.3.11.4. Market size and forecast, by end use industry, 2016-2026
8.3.11.5. Comparative market share analysis, 2018 & 2026

8.3.12. Rest of the Asia Pacific

8.3.12.1. Market size and forecast, by color, 2016-2026
8.3.12.2. Market size and forecast, by deposit type, 2016-2026
8.3.12.3. Market size and forecast, by grade, 2016-2026
8.3.12.4. Market size and forecast, by end use industry, 2016-2026
8.3.12.5. Comparative market share analysis, 2018 & 2026

8.4. LAMEA

8.4.1. Market size and forecast, by color, 2016-2026
8.4.2. Market size and forecast, by deposit type, 2016-2026
8.4.3. Market size and forecast, by grade, 2016-2026
8.4.4. Market size and forecast, by end use industry, 2016-2026
8.4.5. Market size and forecast, by country, 2016-2026

8.4.6. Comparative market share analysis, 2018 & 2026
8.4.7. Brazil

8.4.7.1. Market size and forecast, by color, 2016-2026
8.4.7.2. Market size and forecast, by deposit type, 2016-2026
8.4.7.3. Market size and forecast, by grade, 2016-2026
8.4.7.4. Market size and forecast, by end use industry, 2016-2026
8.4.7.5. Comparative market share analysis, 2018 & 2026

8.4.8. Saudi Arabia

8.4.8.1. Market size and forecast, by color, 2016-2026
8.4.8.2. Market size and forecast, by deposit type, 2016-2026
8.4.8.3. Market size and forecast, by grade, 2016-2026
8.4.8.4. Market size and forecast, by end use industry, 2016-2026
8.4.8.5. Comparative market share analysis, 2018 & 2026

8.4.9. South Africa

8.4.9.1. Market size and forecast, by color, 2016-2026
8.4.9.2. Market size and forecast, by deposit type, 2016-2026
8.4.9.3. Market size and forecast, by grade, 2016-2026
8.4.9.4. Market size and forecast, by end use industry, 2016-2026
8.4.9.5. Comparative market share analysis, 2018 & 2026

8.4.10. Rest of LAMEA

8.4.10.1. Market size and forecast, by color, 2016-2026
8.4.10.2. Market size and forecast, by deposit type, 2016-2026
8.4.10.3. Market size and forecast, by grade, 2016-2026
8.4.10.4. Market size and forecast, by end use industry, 2016-2026
8.4.10.5. Comparative market share analysis, 2018 & 2026

9. Company profiles

9.1. Apmdc

9.1.1. Business overview
9.1.2. Financial performance
9.1.3. Product portfolio
9.1.4. Recent strategic moves & developments

9.1.5. SWOT analysis

9.2. Desku Group Inc.

9.2.1. Business overview
9.2.2. Financial performance
9.2.3. Product portfolio
9.2.4. Recent strategic moves & developments
9.2.5. SWOT analysis

9.3. Ashapura Group.

9.3.1. Business overview
9.3.2. Financial performance
9.3.3. Product portfolio
9.3.4. Recent strategic moves & developments
9.3.5. SWOT analysis

9.4. Halliburton Co.

9.4.1. Business overview
9.4.2. Financial performance
9.4.3. Product portfolio
9.4.4. Recent strategic moves & developments
9.4.5. SWOT analysis

9.5. International Earth Products llc

9.5.1. Business overview
9.5.2. Financial performance
9.5.3. Product portfolio
9.5.4. Recent strategic moves & developments
9.5.5. SWOT analysis

9.6. Excalibar Minerals llc

9.6.1. Business overview
9.6.2. Financial performance
9.6.3. Product portfolio
9.6.4. Recent strategic moves & developments
9.6.5. SWOT analysis

9.7. Kaomin Industries

9.7.1. Business overview
9.7.2. Financial performance
9.7.3. Product portfolio
9.7.4. Recent strategic moves & developments
9.7.5. SWOT analysis

9.8. Mil-Spec Industries Corporation

9.8.1. Business overview
9.8.2. Financial performance
9.8.3. Product portfolio
9.8.4. Recent strategic moves & developments
9.8.5. SWOT analysis

9.9. Seaforth Mineral & Ore Co. Inc.

9.9.1. Business overview
9.9.2. Financial performance
9.9.3. Product portfolio
9.9.4. Recent strategic moves & developments
9.9.5. SWOT analysis

9.10. Milwhite Inc.

9.10.1. Business overview
9.10.2. Financial performance
9.10.3. Product portfolio
9.10.4. Recent strategic moves & developments
9.10.5. SWOT analysis

Barite is the most common barium mineral that commonly occurs in marine deposits, sedimentary rocks, and hydrothermal ore veins. Owing to its versatile properties, the mineral is being utilized for medical, energy, and automobile sector. Barites minerals are used in the therapeutic sector, majorly due to the factors such as absorption capability of gamma rays & X-rays. Barite can also be used for examinations of the gastrointestinal tract ultrapure barite.

Benefits of Barite

Barites offer several benefits such as strong inertia, moderate rigidity, good stability, high specific gravity, and acid & alkali proof. Owing to such advantages, the barite is broadly used in applications including middle & high-grade paint, paper-making, medicine compounding, engineering plastic, rubber, cosmetics, and pottery among others. The main types of barites are bleached barite, finely ground barite and ground barite. Ground barite is used as filler in the production of paper, oil cloth, plastics, linoleum, paper, rubber, and textile. Bleached barite is used as a coloring agent in white paint. Whereas, finely ground barite is used in making thixotropic mud that is used in drilling applications for sealing oil wells.

Barite exhibits a high-density physical property and is relatively inert. In drilling muds, barite is widely used as a weighting agent. Barite also finds other applications in the electronics and electrical, rubber, paints radiation shielding, ceramics, medical, and glass industry among others. U.S., India, China, and Morocco are expected to be the major producers of barite. In all categories across the globe, the total barite resources are around 2 billion tons. However, the identified resources considered is only around 740 million tons.

Application Areas of Barite Market

The use of barite is progressively gaining importance in many industrial sectors. One of the leading industrial barium sulfates manufactures in the United States, Excalibar Minerals LLC, introduced ExBAr HD Series of Barium Sulfate. According to the report, the ExBar HD series offers a very high density that contributes to improved adhesion, radiation blocking, and exceptional noise deadening.

Moreover, most of the manufactured barite is used in the oil and gas exploration, as it is utilized as a weighting agent in the drilling fluids. Barites are mainly used to prevent blowouts and overturn the high formation fluids. The usage quantity of barite is primarily reliant on the depth of the hole. As barite is non-magnetic in nature, it does not intervene with the magnetic measurements that are taken at the time of boring the hole. This makes barite a supreme choice for the drilling fluids.

Also, the wide-range usage of barite in the manufacturing of paints & coatings will in turn boost the growth of automobile industry. This will lead in the overall growth of the barite market. The Paint Grade Barite Powder from 9X Minerals is a non-qualitative white powder. It is nontoxic and not soluble in nature. It reduces to barium sulfide when heat with carbon as its chemical property is stable. It can be used as a filler in pigment, paint, coating, latex paint and oil ink industries.

Increasing demand in other applications such as textiles, paper, and adhesives will create growth opportunities in the global barite market. Though, there are substitutes to barite such as iron ore, ilmenite, synthetic hematite, and celestite, none of these alternatives had a major influence on the barium sulphate drilling mud industry. An Indian based mining and trading company IBC Limited has introduced “High Specific Gravity Barite Powder” in the barite market. It is high- grade barite that is processed from natural ore. In an adhesive formulation, barite is an exceptional filler choice in specific applications where chemical resistance or X-ray absorbance is a necessity.

Since barite is essential in the pharmaceuticals industry, a barite of high-purity form is used in the gastrointestinal tract. The barite has good adhesiveness, acid and alkali resistance, and it can make the whole gastric mucosa surface evenly spread and coat. Basing its x-ray protection property, the gastrointestinal tract’s outline thus becomes visible allowing clear gastrointestinal examination.

Future of Barite Market

Global barite market is projected to witness a significant growth during the period of forecast. Several applications of barite in oil & drilling, paints & coating, pharmaceuticals, rubber & plants, textiles, and adhesives are boosting the growth of barite market.

Today, with several research and development in the mining sector, many different minerals are discovered. Since mining from vein and cavity filling is a complicated and expensive procedure, residual deposit is largely preferred. This is majorly due to the easy availability of residual barites as compared to other residual types. Growth in the use of brown barite as a petroleum for drilling and vein filling is expected to the demand for barite market in the near future. Also, grade 4.3 will boost the market growth owing to its wide range of use in applications such as sound proofing material, computer monitors, and automobile applications such as manufacturing of brake linings.
Rising demand for energy, coupled with versatile properties of barite, the world’s dependence on gas & oil are giving significant boost to the growth of the global market in the near future. According to the statistics provided by a research report from Research Dive, the global barite market is expected to grow at 6.1% CAGR, and will reach up to $4316.7 million by the end of 2026. The report highlights the prominent players operating in the market. Some of them are Apmdc, Desku Group Inc., Ashapura Group., Halliburton Co., International Earth Products llc, Excalibar Minerals llc, Kaomin Industries, Mil-Spec Industries Corporation, Seaforth Mineral & Ore Co. Inc., and Milwhite Inc. These players are initiating various steps in order strengthen their presence such as merger & acquisitions, new product development.

On the other hand, the rising focus of government for the improvements of minerals used in industries such as barite, iron ores, and others are sure to fuel the growth of the barite market. Hence, it is clear that be it textile, adhesive, pharmaceuticals, oil & drilling, or paint & coating industry, the applications of barite will provide significant investment opportunities in the coming future.

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