WorldWide Barite Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 - 2025 (Includes Business Impact of COVID-19)

  • TBI856814
  • September 09, 2019
  • Global
  • 132 pages
  • HCCResearch
                                          

Abstract, Snapshot, Market Analysis & Market Definition: Barite Market

 

Industry / Sector Trends

Barite Market size recorded USD 2.2 billion in 2016 and is likely to witness 6% CAGR from 2017 to 2024.   U.S. barite market size, by application, 2013 - 2024 (USD Million)   Barite market growth is owing to its increasing applications in the healthcare industry over the forecast period. It is largely used in various medical devices owing to its ability to absorb X-rays and gamma rays. Some other medical applications of product include, usage for filling and fixing of plaster. The healthcare industry is growing across the world at an unprecedented rate. It is due to the increasing investment in the industry, growing access of healthcare to a larger population and advancement in various medical fields. For example, the per capita expenditure is highest in developed economies such as the U.S., U.K., Germany, Canada, etc. Asia Pacific is slowly catching up to this trend with the impressive performance of economies such as India, China, Thailand, and Indonesia. According to the U.S. Department of Commerce, in 2017, the global medical device market was worth USD 390 billion, with the U.S. taking the highest share of about 40% of the total market. The trend is likely to continue in the near future, concurrently driving the product demand.   The limited resources coupled with increased cost related to its transportation is likely to hinder the product demand in the coming years. Moreover, the product extraction is economic only in China, due to cheap mining cost in the country. The product demand also faces challenges owing to the presence of a number of its substitutes, such as ilmenite, galena, hematite etc. which are more economical and provide a reduction in application’s operational cost. However, these substitutes are not widely used and currently, the product ensures to be the favored article of trade for this application as long as barite production remains robust.  

Market Segmentation, Outlook & Regional Insights: Barite Market

Barite Market, By Grade Barite is generally found in colorless as well as colored forms. Its identification is done on the basis of specific gravity and hardness. The various product grades are decided on the presence of barite and other constituents. Grade 4.3 is likely to grow at over a 6% CAGR, owing to its applications in swiftly growing rubber & tire, healthcare, and paints & coatings industry. Grade 4.3 includes over 95% barite and its other applications include, television and computer monitors, radiation shielding, sound-proofing material in automobiles; traffic cones; brake linings, etc. High-grade barite such as 4.3 and higher are always in high demand due to their purity of content and better hardness. However, they are generally found as sedimentary deposits on the surface of oceanic plates. The high-grade barites controls the paleotemperature range of oceanic crust. The operational cost and difficulty in extraction result in lower availability of high-grade barite in the market.   The other lower grades find application in similar industries and aremore easily available in the market. Grade 4.0 is extensively used as a sizing agent, in the textiles industry. Additionally, it is also used as a surface smear for photographic and calendared paper. The market dynamics of applications such as oil & drilling is likely to impact the barite market growth over the forecast timeframe.    Barite Market, By Color Barite is colorless or white mineral, often tinged with yellow, red, brown or blue. Its color segment is divided into white & off-white, grey, brown and others. The varied color range of products is utilized in a number of respective suitable applications. The brown barite is likely to grow notably on account of its use as a density filler in rubber, paper and plastic production. The growing demand for automotive, especially electric vehicles in Europe is likely to influence the brown barite use in tire production for these new vehicles in the coming years.   Barite is available in other colors such as orange, yellow, blue, red, etc. which are used in a number of applications such as textile, Adhesives, Paints & Coatings and Pharmaceuticals. The continual growth in these industries is likely to affect the product growth over the forecast period.    By Application Adhesives is expected to grow at a CAGR close to 5.5% in the near future. It is due to the growing demand for adhesives in paper and packaging, industrial manufacturing, electrical and electronics, construction, dentistry, etc. The use of industrial adhesives in varied industries of the growing Asia Pacific is likely to govern the barite usage. On the other hand, the textile industry is growing at a steady pace in countries such as Brazil, India, the U.S., and China. Barite use in the textile industry is projected to grow as the sector grows in the coming years.   By Region Middle East barite market size is the fastest emerging segment and is awaited to grow at a CAGR of over 7% during the forecast timeframe. It is due to the oil-based economies of these countries; the oil & drilling industry size is enormous in the region. It is likely to drive the product demand into the highest order in the coming future. Even though the European economy is converting to renewable-based resources, the oil will still be needed for the growth of the economic engine of Asia Pacific. Use of barite as a weighting agent in oil & drilling forms an important part in oil extraction technology, which signifies the growing market share of the application in the market. As the oil is discovered in regions other than the Middle East, the product demand is anticipated to grow consistently in those regions, over the forecast period.  

Key Players, Recent Developments & Sector Viewpoints: Barite Market

Major players present in the barite market contributors are Deutsche Baryt Industrie, New Riverside Ochre Company, Inc., Halliburton, CIMBAR Performance Minerals, Spectrum Chemical Manufacturing Corporation, Anglo Pacific Minerals, and Excalibar Minerals LLC. These major players hold over 55% share in the global barite production making it a consolidated market.   Industry Viewpoint   Barite is an industrial mineral found in a limited quantity in nature. It is available in number of colors, such as white, blue, brown, grey or even in colorless state. It is classified on the basis of its specific gravity, available colors, and applications. Abundant product deposits are located in countries such as Spain, China, Australia, the U.S., the U.K. and Morocco. The product is also identified by other names, mainly, barite, heavy spar and desert rose

Key Insights Covered: Exhaustive Barite Market

1. Market size (sales, revenue and growth rate) of Barite industry. 2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Barite industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Barite industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Barite industry.

Research Methodology: Barite Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Barite Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Barite Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Barite Production Value 2014-2025
        2.1.2 Global Barite Production 2014-2025
        2.1.3 Global Barite Capacity 2014-2025
        2.1.4 Global Barite Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Barite Market Size CAGR of Key Regions
        2.2.2 Global Barite Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Barite Capacity by Manufacturers
        3.1.2 Global Barite Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Barite Revenue by Manufacturers (2014-2019)
        3.2.2 Barite Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Barite Concentration Ratio
    3.3 Barite Price by Manufacturers
    3.4 Key Manufacturers Barite Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Barite Market
    3.6 Key Manufacturers Barite Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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