An Incisive, In-depth Analysis on the Barite Market
This study offers a comprehensive, 360 degree analysis on the Barite market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Barite market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Barite Market Fortified by Accelerating Oil & Gas Exploration Activities
The barite market is projected to undergo steady growth at approximately 4.2% CAGR during the forecast period (2019-2029). The barite sales are majorly driven by escalating oil & natural gas exploration activities. Rising population continues to generate an upheaval in demand for energy consumption. North America and Asia Pacific will be the major contributors of global barite market growth.
Further, the revenues of barite market surpassed approximately US$ 1.3 Bn in 2018. The rising significance of barite in medical applications is projected to cause an upswing in demand through 2029. Barite is known for its ability to absorb X-rays and gamma rays. Hence, it is increasingly being used as a radiocontrast agent for diagnostic procedures, particularly for gastrointestinal tract imaging.
Technology to Play Crucial Role in Diversifying Barite Applications through 2029
Use of barite (or barium sulphate) as a filler in varnishes, inks, paints, coatings and plastics has gained significant traction. High temperature stability and density, along with chemical inertness of barite is surging its demand in these industries. Barite enhances the workability, viscosity and consistency of primers, surfacers and fillers. Manufacturers worldwide thus prefer barite for paint and coating applications.
Other variegated applications of barite include its usage as a surface-coating agent in banknotes. The precipitated barite is used for coating paper on account of its chemical inertness, high gloss, and eco-friendly attributes. However, relatively high price point of barite and complex manufacturing procedure is limiting its adoption.
North America Continues to Hold over 40% Market Share
North America barite market accounts for approximately 42% of the overall market stack. Proliferation of oil and gas drilling activities in the region is attributed for the impressive market share. The United States in particular will generate substantial revenue through 2029. Moreover, Mexico continues to be have significant growth potential owing to flourishing manufacturing sector.
On the other hand, Asia Pacific is projected to pick up pace in global barite market owing to soaring demand in ceramics, rubber, coatings, paints, oil & gas industries. Moreover, India and China will lead the Asia Pacific barite market in terms of consumption. Rapid deployment of barite in the production of electronic devices such as LED panels, computers and televisions will further stimulate the market growth in India, China and Taiwan.
Market Incumbents to Uphold Hegemony through Innovation and Expansion
The global barite market is a fairly consolidated landscape except for China where it is highly fragmented. The key players in barite market include, Ecostar, Corpomin, Halliburton Energy Services Inc., Milwhite, Excalibar Minerals, Andhra Pradesh Mineral Development, and Guizhou Sinobarite Mining Co., Ltd. Major innovators are focused on manufacturing barite for variegated applications such as pharmaceuticals, paints & coatings, textiles, oil & gas industries.
Product launch and innovation, R&D activities, capacity and geographic expansion remain the prominent strategies of leading global producers. For instance, CIMBAR Performance Minerals Inc. expanded its operational footprint in Marietta, Ohio (US). The facility has around 125-150,000 Tonnes Per Annum (TPA) production capacity. Through this strategic move, the company gained access to regional oilfield market in Northeastern United States. In addition, key players must accelerate their expansion activities in Asia Pacific in view of remunerative growth prospective of the region.
Barite Market Analysis 2019-2029
A recent market study published by Future Market Insights on the barite market includes global industry analysis for 2014-2018 and opportunity assessment for 2019-2029 and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on historic as well as current growth parameters, growth prospects of the barite market are obtained with maximum precision.
The global barite market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.
Chapter 01 - Executive Summary
The report begins with an executive summary of the barite market, which includes key findings and statistical analysis of the market.
Chapter 02 - Market Overview
Readers can find the definition and detailed taxonomy of the market in this chapter, which will help them understand the basic information about the market.
Chapter 03 - Global Market Demand Analysis 2014-2018 and Forecast, 2019-2029
This section explains the global market value analysis and forecast for the barite market during the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical barite market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
Chapter 04 - Global Market - Pricing Analysis
This section covers the pricing analysis of the barite market at the regional level.
Chapter 05 – Market Background
This section explains the global market value analysis and forecast for the barite market during the forecast period of 2019-2029 and the key macroeconomic factors that are expected to influence the growth of the barite market during the forecast period. This section also highlights the opportunity analysis for the barite market. This chapter also provides key market dynamics, which include drivers and restraints. Moreover, readers will understand key trends followed by leading manufacturers in the barite market.
Chapter 06 - Global Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Region
This chapter explains how the barite market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, Asia Pacific, Middle East and Africa (MEA).
Chapter 07 - Global Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Application
This chapter provides details about the barite market based on application and has been classified into drilling mud, pharmaceuticals, plastics & rubber, oil & gas. Through this chapter, readers can understand market attractiveness analysis based on the application.
Chapter 08 - Global Market Analysis 2014-2018 and Opportunity Assessment 2019-2029 by Grade
This chapter provides details about the barite market based on grade and has been classified into Up to Sp. 3.9, Gr. 4.0, Gr. 4.1, Gr. 4.2, and Gr. 4.3 & Above. Through this chapter, readers can understand market attractiveness analysis based on grade.
Chapter 9 - North America Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter includes a detailed analysis of the growth of the North America barite market, along with the country-wise assessment that includes the U.S. and Canada. Readers can also find pricing analysis, regional trends, and market growth based on application, grade, and countries in North America.
Chapter 10 - Latin America Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter provides the growth scenario of the barite market in countries in Latin American such as Brazil, Mexico, and the rest of Latin America. Along with this, an assessment of the market across target segments has also been provided.
Chapter 11 - Europe Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
Important growth prospects of the barite market in several countries such as Germany, the U.K., France, Spain, Italy, Russia, and the rest of Europe are included in this chapter.
Chapter 12 - MEA Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
This chapter provides information about how the barite market is anticipated to grow in major countries in the MEA region such as GCC countries, South Africa, Turkey, Northern Africa, and the rest of MEA during the forecast period.
Chapter 13 - Asia Pacific Market Analysis 2014-2018 and Opportunity Assessment 2019-2029
Leading countries in the Asia Pacific region are prime subjects of assessment to obtain growth prospects of the Asia Pacific barite market in this chapter. Readers can find detailed information about the growth parameters of the Asia Pacific barite market during the forecast period.
Chapter 14 - Emerging Countries Market Analysis 2014-2018 and Forecast 2019-2029
This chapter explains how the barite market is anticipated to grow across various emerging countries such as China, and India.
Chapter 15 - Market Structure Analysis
In this chapter, readers can find detailed information about tier analysis and market concentration of key players in the barite market, along with their market presence analysis by region and product portfolio.
Chapter 16 - Competition Analysis
In this chapter, readers can find detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in this report are Milwhite, Corpomin, Excalibar Minerals, International Earth Products LLC., BariteWorld, The Kish Company, Inc., New Riverside Ochre Company, Inc., Global Reach FZE, and Andhra Pradesh Mineral Development.
Chapter 17 - Assumptions and Acronyms
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the barite market report.
Chapter 18 - Research Methodology
This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the barite market. The report focuses on barite consumed in the Chemicals & Materials industry.