Global Barite Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Barite Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Baryte or barite is a mineral consisting of barium sulfate (BaSO4). Baryte is generally white or colorless, and is the main source of barium. The baryte group consists of baryte, celestine (strontium sulfate), anglesite (lead sulfate) and anhydrite (calcium sulfate). Baryte and celestine form a solid solution (Ba,Sr)SO4.

Market Overview:

The latest research study on the global Barite market finds that the global Barite market reached a value of USD 1758.0 million in 2023. It’s expected that the market will achieve USD 1579.03 million by 2029, exhibiting a CAGR of -1.77% during the forecast period.

In contrast, the demand side of the barite industry has been severely hit. This is due to the reduction in demand caused by the shutdown of other downstream industries, especially the sharp drop in oil and natural gas consumption demand at the beginning of the epidemic, resulting in a drop in international oil and natural gas prices. Production shutdowns due to the pandemic and changes in production plans due to changing demand have led to lower barite demand in these industries.

1.Market Drivers

The application of oil and gas is the major driving factor for the growth of the barite market.
A wide range of uses has driven up the demand for barite.Barite is a very important non-metallic mineral raw material with a wide range of industrial uses.

2.Limitations

The safe production of the mining industry has attracted the attention of the people and governments of many countries.
Barite mines are non-renewable resources. During mining and processing, a large amount of wastewater, waste gas and solid waste are produced, which destroys the mining landscape and pollutes groundwater resources.

3 Opportunities

Barite application scenario expansion.For example, adding an appropriate amount of barite to the cement raw material with coal gangue as raw material can greatly improve the strength of cement with a low clinker saturation ratio, especially the early strength.

Region Overview:

India had the highest growth rate of all regions
In 2022, the share of the Barite market in India stood at 34.56%

Company Overview:

1. APMDC
Vision: To become the most valued company for suitable development of minerals with commitment towards environmental protection and safety, and to become the leader in mining through optimal utilization of resources, additional value creation and sustainable growth.

2.CS Mining - Barite Group

CS Mining is a mainly engaged in Cement, Mining, Energy and Investment & Land Development Sectors. CS Mining - Barite Group, is formed of nine companies located in Turkey. Morocco, Canada, USA and the UK those are ADO Mining, Baser Mining, AL Mining.

APMDC is one of the major players operating in the Barite market, holding a share of 32.73% in 2023.

APMDC，CS Mining - Barite Group，Shenzhen Rocky Mountains，Tianhong Mining，Cimbar Performance Minerals are the five key players in the global Barite market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Barite market in the past 5 years.

Segmentation Overview:

1.Barite 4.20
2.Barite 4.10
This classification method refers to the specific gravity of barite. The most commonly used barite grades in the oil and gas industry are set by the American Petroleum Institute. They are 4.2g/cm3 and 4.1g/cm3.

The Barite 4.20 segment by type showed a value growth of 57.99% in 2022.Among different product types, Barite 4.20 segment is anticipated to contribute the largest market share in 2028.

Application Overview:

1.Drilling Fluid

Drilling mud, also known as drilling fluid, in petroleum engineering is a heavy, viscous fluid mixture used in drilling operations to carry cuttings to the surface and to lubricate and cool drill bits.

2.Barium Compounds

Barite is the main source of barium compounds. Barite can be used as raw material to produce barium oxide, barium carbonate, barium chloride, barium nitrate, barium hydroxide and other chemical raw materials.

3.Paints and Coatings

Barite is used as a white pigment in paints and coatings. Lithopone, also known as lithopone, is a commonly used high-quality white pigment.

4.Plastics and Rubber

In the plastic and rubber industries, barite is also used as a filler. Barite filler can improve the hardness, wear resistance and aging resistance of rubber and plastic.

5.Others

Barite is used in other industries such as papermaking, textile, cement mineralizer, medicine and other fields.

The market's largest segment by application is the segment Drilling Fluid, with a market share of 77.80% in 2022.

Key Companies in the global Barite market covered in Chapter 3:

Guizhou Toli
CS Mining - Barite Group
Cimbar Performance Minerals
SinoBarite
Guizhou SABOMAN
Shenzhen Rocky Mountains Industry Development Co., Ltd (RKM)
APMDC
Zhashui Barite Mining
Tianhong Mining

In Chapter 4 and Chapter 14.2, on the basis of types, the Barite market from 2019 to 2030 is primarily split into:

Barite 4.20
Barite 4.10
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Barite market from 2019 to 2030 covers:

Drilling Fluid
Barium Compounds
Paints and Coatings
Plastics and Rubber
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)