Barite Market 2020 - Size, Share, Growth Analysis and Forecast Report by 2027

Barite is a mineral containing barium sulfate which found in various colors such as white, off-white, brown, and others. Baso4 is a chemical formula of barite. It is an important mineral because of its usage in exploration and development of natural gas resources, and petroleum.

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Market Drivers

Growing development of oil and gas industry is key driving factor which expected to boost the global barite market growth. Furthermore, the increase in demand for barite from the paint and coatings industry across the globe is another driving factor will positively influence the market growth. The increases in use of barite in various medical devices due to its ability absorb X-rays and gamma rays will support the market growth. The healthcare industry is growing across the globe at an unprecedented rate due to the rise in investment in the industry and advancement in various medical fields. Drilling activity will drive the global barite market growth.

Market Restraints

Substitution of barite for other minerals is the major challenging factor which expected to hamper the global barite market growth over the forecast period. Also, the limited resources coupled with increased cost related to its transportation may hinder the market growth.

Market Key Players

Various key players are discussed in this report such as Ashapura Minechem Limited, Milwhite Inc., Anglo Pacific Minerals, International Earth Products LLC, Baker Hughes Incorporated, Sojitz Corporation, Excalibar Minerals LLC, Schlumberger Limited, The Andhra Pradesh Mineral Development Corporation Limited, etc.

Market Taxonomy

By Grade

Up to Grade 3.9
Grade 4.0
Grade 4.1
Grade 4.2
Grade 4.3
Grade above 4.3

By Color

White & Off-White
Grey
Brown
Others

By End Use

Oil & Gas
Paint & Coatings
Pharmaceuticals
Rubber & Plastics
Adhesives
Others

By Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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