The ‘Global Barite Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global barite market, assessing the market on the basis of its segments like grades, deposit types, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
|Growth Rate CAGR||5.80%|
|Major Players||Intercontinental Mining, The Kish Company, Inc., Steinbock Minerals Ltd,|
International Earth Products LLC, Desku Group Inc., and others.
The increasing applications of barite across various end use industries such as oil and gas, paints and coatings, and textiles, among others is driving the market growth. It is a crucial ingredient in the manufacturing of paints as it improves thickness, durability, strength, and is an excellent filler. Meanwhile, strength of barite makes it ideal in the production of adhesives. Hence, the heightened applications in building and construction projects is bolstering the global barite market growth.
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Barite is also utilised as a pigment in the textile industry which further fuels its demand owing to the increasing demand for high-quality textile products, rising standards of living, and rapid urbanisation across emerging economies. Moreover, barite is also used in a variety of cosmetics owing to the gentle, whitening, and skin-friendly properties offered by it.
Over the forecast period, the healthy growth of the paper industry anticipated in the coming years is likely to be a crucial driving factor of the barite market. Barite powder is extensively used as a filler in white paperboards and coatings, which enhance the quality of paper.
Barite is a mineral based on barium that occurs naturally and is chemically inert. The product is dense in nature and is utilised in various applications. Barite is found in many colours including blue, grey, and yellow, among others. Commercial deposits of this compound are found across various parts of the world.
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Based on grade, the market can be segmented into:
On the basis of deposit type, the market has been classified into:
Based on end use, the market is segmented into:
On the basis of region, the market can be categorised into:
The key trends in the global barite market include the increasing applications of barite in the pharmaceutical industry as a filler for plasters and as a major component for the treatment of stomach and intestine infections. Moreover, the growing research and development activities, aimed towards curbing the cases of chronic diseases are bolstering the demand for barite in pharmaceuticals.
Meanwhile, the thriving online-retail sector is propelling the sale of various downstream products of barite such as cosmetics, plastics, paints, coats, and textiles, among others, acting as a crucial trend accelerating the barite market growth.
In regional terms, the Asia Pacific holds a significant share in the market owing to the growing industrial expansion across economically growing countries such as India and China.
The major players in the barite market report are Intercontinental Mining, The Kish Company, Inc., Steinbock Minerals Ltd, International Earth Products LLC, and Desku Group Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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