Press release
Barite Market Size is projected to reach $2.4 billion by 2027, growing at a CAGR of 7.3% from 2020 to 2027
According to a new report published by Report Ocean, titled, “Barite Market: Opportunity Analysis and Industry Forecast, 2020–2027,”GET SAMLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1386
The global barite market was valued at $1.4 billion in 2019, and is projected to reach $2.4 billion by 2027, growing at a CAGR of 7.3% from 2020 to 2027.
Barite is a mineral composed of barium sulfate, BaSO4. It is usually colorless or milky white, but can be almost any color, depending on the impurities trapped in the crystals during their formation. Barite is relatively soft, measuring 3-3.5 on Moh’s scale of hardness. It is unusually heavy for a non-metallic mineral.
The high density is responsible for its value in many applications especially in offshore oil & gas drilling application. Barite is chemically inert and insoluble. It occurs as a vein filling and as a gangue mineral in silver, zinc, copper, nickel and lead ores. It is colorless or white, often tinged with yellow, red, brown, or bluish. Barite is also used in the production of wallpaper and asbestos goods as well as in the manufacture of white paint.
Rise in production of oil & gas around the globe, coupled with surged consumption of barite in drilling fluids, is a key factor expected to boost the market growth during the forecast period. The outbreak of the COVID-19 pandemic in 2020 is expected to affect the demand of barite negatively as oil producers are crippled with excess supply and diminished demand.
In addition, the barite market is expected to grow significantly during the forecast period, owing to its increasing applications in the healthcare industry. It is largely used in various medical devices, owing to its ability to absorb X-rays and gamma rays. Some other medical applications of product include, usage for filling and fixing of plaster. The healthcare industry is growing across the world at an unprecedented rate. It is due to increasing investment in the industry, growing access of healthcare to a larger population and advancement in various medical fields. These factors are expected to drive the growth of the global barite market during the forecast period.
However, factors such as substitution of barite for other minerals are expected to hinder the growth of the barite market. In addition, untapped oil reserves in emerging oil-producing regions such as Africa and the Pacific Ocean; therefore, offer lucrative opportunities to the players manufacturing barite-based weighting agents used in the oil and gas industry. This is expected to provide lucrative opportunities for barite market to grow in the near future.
Based on form, the barite market size is categorized into lumps and powder. Powder form is the leading segment that dominated the global market with more than half of the global barite share in 2019. This is due to its increase in consumption in plastic industry, owing to surge in demand for plastics across various industry verticals such as construction, automotive, and electrical electronics.
Based on grade, it is divided into up to grade 3.9, grade 4.0, grade 4.1, grade 4.2, grade 4.3, and grade above 4.3. The grade 4.2 segment generated the highest revenue in 2019, with more than one-fourth of the total market share, followed by grade 4.3 segment. Grade 4.2 of barite is widely used as filler in various end-use industries such as paints & coatings, rubber, and plastics.
Based on color, it is divided into white & off-white, grey, brown, and others. Grey barite segment generated the highest revenue in 2019, with more than half of the total market share, followed by white & off-white segment. Grey barite is widely used in oil & gas drilling industry and its demand is expected to surge significantly during the forecast period due to rise in offshore oil & gas exploration activities across the globe. Based on deposit type, it is divided into residual, bedding, vein, and cavity filling.
The bedding segment generated the highest revenue in 2019, with more than half of the total market share, followed by cavity filling segment. Barite obtained from bedding deposit is grey. Growing demand for grey barite from the oil & gas industry across the globe is expected to surge the mining of barite from bedding deposit globally.
Based on end-use industry, it is divided into oil & drilling, paints & coatings, pharmaceuticals, rubber & plastics, textiles, adhesives, and others. The oil & gas drilling segment generated the highest revenue in 2019, with more than three-fifths of the total market share, followed by paints & coatings segment. Barite is used as a weighing agent in oil well drilling fluids to counteract certain pressures that result from well drilling operations.
Based on region, the barite market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the major barite market share in 2019. North America generated the highest revenue in 2019, with more than one-third of the total market share, followed by Asia-Pacific. This is due to a steady increase in the investments made by U.S. oil companies for exploration and production of shale oil across the globe.
COVID-19 Analysis:
The demand for barite is likely to experience a downfall during the COVID-19 pandemic due to decline in production activities of paints & coatings, plastics, textiles, and adhesive industries due to disrupted supply chain amid lockdown.
Owing to the outbreak of COVID-19 pandemic in 2020, oil producers across the globe are crippled with excess supply and diminished demand. As a result, the drill rig count across the globe has witnessed a sharp fall leading to reduced consumption of barite for drilling mud.
Barite manufacturers across the countries such as China, India, and countries of Southeast Asia exhibit high growth potential and generate maximum revenue, as government of these countries are gradually lifting the lockdown restrictions to start the industrial activities. Thus, the demand for barite and its products across the oil & drilling, paints & coatings, pharmaceuticals, rubber & plastics, textiles, and adhesives industries is expected to increase, which is anticipated to drive the demand for barite.
Key findings of the study
In 2019, North America dominated the global barite market with around 34.8% of the share, in terms of revenue.
The powder segment is estimated to display the highest growth rate, in terms of value and volume, registering a CAGR of 7.7% & 2.5% from 2020 to 2027.
Above Grade 4.2 dominated the global barite market with around 29.8% of the share, in terms of revenue.
The white & off-white segment is estimated to display the highest growth rate, in terms of value and volume, registering a CAGR of 7.8% & 2.6% from 2020 to 2027.
The bedding deposit segment dominated the global barite market with around 53.6% of the share, in terms of revenue.
The pharmaceutical segment is estimated to display the highest growth rate, in terms of value and volume, registering a CAGR of 8.2% & 3.2% from 2020 to 2027.
The key players operating in the global barite market include Chinchana Group, Demeter O&G Supplies SN BHD, KIA Energy Company Ltd., NHAT HUY Group, General Electric, Ashapura Group, Halliburton, Sibelco, Schlumberger, and Sojitz Corporation.
READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1386
Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/
We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Barite Market Size is projected to reach $2.4 billion by 2027, growing at a CAGR of 7.3% from 2020 to 2027 here
News-ID: 2242059 • Views: …
More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan.
Internet Advertising are set…

Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders…

Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030.
This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,…

Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,…
More Releases for Barite
Barite Products Market Size and Forecast
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- The global Barite Products Market is expected to record a CAGR of XX.X% from 2024 to 2031 In 2024, the market size is projected to reach a valuation of USD XX.X Billion. By 2031 the valuation is anticipated to reach USD XX.X Billion.
The barite products market has witnessed considerable growth, driven by its extensive use in various industries such as oil and gas, paints and coatings, pharmaceuticals,…
Global Barite Industry Analysis By Geography
Stratistics MRC's Barite Market report explains company profiling, key segments, market trends, top players and regional, country-level segments.
Barite is a kind of mineral that carries barium sulfate.BaSO4 is the chemical formula used for barite. The barite is found in many colours such as white, brown, grey, yellow and brown. It can be colourless. Countries like china, US, India and Morocco are the primary countries where commercial deposits of barite are…
2028 Barite Industry Report Growth Forecasts
Stratistics MRC's Global Barite Market value expected to reach $3.05 billion growing at a CAGR of 9.3% during 2020-2028.
Barite is a kind of mineral that carries barium sulfate.BaSO4 is the chemical formula used for barite. The barite is found in many colours such as white, brown, grey, yellow and brown. It can be colourless. Countries like china, US, India and Morocco are the primary countries where commercial deposits of barite…
Global Barite Industry Analysis By Geography
Stratistics MRC's Barite Market report explains company profiling, key segments, market trends, top players and regional, country-level segments.
Barite is a kind of mineral that carries barium sulfate.BaSO4 is the chemical formula used for barite. The barite is found in many colours such as white, brown, grey, yellow and brown. It can be colourless. Countries like china, US, India and Morocco are the primary countries where commercial deposits of barite are…
2021 Barite Industry Global Analysis Report
Stratistics MRC 2021 Barite Market report is Barite is a kind of mineral that carries barium sulfate.BaSO4 is the chemical formula used for barite.
Barite is a kind of mineral that carries barium sulfate.BaSO4 is the chemical formula used for barite. The barite is found in many colours such as white, brown, grey, yellow and brown. It can be colourless. Countries like china, US, India and Morocco are the primary countries…
Barite Market – Global Industry Report, 2027
Albany, NY - Key Highlights
A recent research report published by Transparency Market Research projects the global barite market to expand at a CAGR of 4.5% during the period between 2019 and 2027. The report, titled “Barite Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2019 – 2027,” estimates the global barite to reach US$ 2.0 Bn by 2027, from US$ 1.3 Bn in 2018.
Barium, a chemically inert…