Industry Background:
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
According to AMA Research, the market for Barite is expected to register a CAGR of 3.9% during the forecast period to 2027. This growth is primarily driven by 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
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Materials sector in the MEA region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.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
Barite Market Dynamics:
Attributes | Details |
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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
- Rise in the Chemical & Plastics Industry Where Barite Is used as a Filler Material for Manufacturing Different Chemicals
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Influencing Trends | - Increasing Applications of Barite in Different Industries like Electrical & Electronics, Rubber, Ceramics, Medical, & Glass
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Restraints | - The Recent Economic Downturn in many Countries Affecting Various End-Use Industries
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Road Blocks / Challenges | - Market Presence of Alternative Substances like Hematite, Ilmenite, & Galena
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Gaps & Opportunities | - There is an Increased Opportunity for the Utilisation of Barite in Automotive Industry, owing to its Smoothness & High Corrosion Resistance
- There are Growth Prospects for Market Expansion, due to the Rising Usage of Barite as a Pigment, in Industries like Paint & Coatings, Textile, & Paper
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Barite Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Barite Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Barite players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Barite Study Sheds Light on
The Barite Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Barite industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Barite industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.