Barytes Market
Barytes Market Analysis By End User (Oil & Gas Drilling, Chemicals), By Region - Global Forecast 2022 to 2032
Analysis of Barytes market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Barytes Market Outlook (2022 to 2032)
The global barite market enjoyed year-on-year (YoY) growth of 1.9% to reach US$ 1.59 Bn in 2021. North America is anticipated to account for around 26.7% share of the worldwide barytes market value in 2022.
| Report Attributes | Details |
|---|---|
| Barytes Market Size (2021A) | US$ 1.59 Bn |
| Estimated Market Value (2022E) | US$ 1.63 Bn |
| Forecasted Market Value (2032F) | US$ 2.35 Bn |
| Global Market Growth Rate (2022 to 2032) | 3.7% CAGR |
| North America Market Share (2021) | ~ 26.7% |
| North America Growth Rate (2022 to 2032) | 3.3% CAGR |
| US Growth Rate (2022 to 2032) | CAGR 3.3% |
| Key Companies Profiled | Milwhite Inc.; Sachtleben Minerals GmbH & Co. KG; New Riverside Ochre Company, Inc.; CIMBAR Performance Minerals; Deutsche Baryt Industrie; Spectrum Chemical Manufacturing Corporation; Anglo Pacific Minerals; Apmdc; Ashapura Group; Seaforth Mineral & barite market Ore Co. Inc; Excalibar Minerals LLC.; Other Prominent Players (On Additional Request) |
Market value is projected to reach US$ 2.35 Bn 2032-end with consumption of barytes increasing at a CAGR of around 3.7%. Barite sales accounted for approximately 0.5% share of the global mineral market in 2021, and due to its increasing application across various sectors, this market share is predicted to increase to 0.7% - 1% by 2032.
According to the research conducted by Fact.MR, approximately 69.1% of the world’s baryte is used in drilling mud. Barytes' chemical and different physical properties help prevent blowouts during the oil extraction process, which has increased its usage in the oil & gas drilling industry.
As such, the oil & gas drilling end use of barytes grew 2% to reach US$ 1.1 Bn in 2021.
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Consumption Analysis of Barytes (2017 to 2021) Vs. Industry Outlook (2022 to 2032)
Latest market analysis by Fact.MR, a global market research and competitive intelligence provider, states that the market value for barytes powder over the past half-decade increased at 2.7% CAGR. Barite consumption in oil & gas drilling accounts for the highest market share, which is mainly attributed to the fine properties of baryte in comparison to other minerals.
Baryte, which is rich in several properties, is gaining popularity to cater to a wide range of applications across industries. Barite is a different form of mineral, which is a combination of barium and sulphate, and is one of the most easily available and economical minerals across the world. The composition of this mineral is 58.8% barium and 41.2% sulphate, with a specific gravity of 4.5, making it light in weight.
Over the period of 2022 to 2032, the global market for barytes powder is predicted to expand at a CAGR of around 3.7%.
What are the Demand Drivers for Barytes Over the Forecast Period?
“Barytes – Economical and Beneficial Mineral for Several End-use Sectors”
Baryte is one of the finest and most economical minerals available worldwide, having a plethora of benefits across many industries such as oil & gas drilling, chemicals, plastics, etc.
Extraction of oil is carried out in major countries of MEA, and baryte is the mineral that is used while drilling as it helps avoid blow-ups during the drilling process. Baryte acts as a fine weighing agent increasing the density of drilling fluids; it confines the high pressure that is created due to oil, gas, and water that is liberated while drilling.
“Potential Use of Baryte in Healthcare Sector”
When barite comes in contact with iodine, it creates certain reactions that can help obstruct radiation in diagnostic trials and tests. This creates a gateway for baryte manufacturers to enter the medical sector and explore further opportunities.
“High Grade of Purity of Barytes Leading to Several Applications”
Barytes also has non-drilling applications; the fine particles of these minerals can be used as fillers in industrial and marine paints due to their physical properties and high grade of purity. It can also be used in the plastic industry and in brake lining materials.
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Country-Wise Analysis
Why Does the U.S. Account for High Consumption of Barytes in North America?
Majority of barite deposits are found in Georgia, Nevada, and Missouri. As the U.S. stands as one of the market leaders in oil & gas drilling, the use of this material is also high.
The O&G industry uses bulk of the baryte mined as a weighing component in the formulation of drilling mud. Baryte raises the drilling mud's hydrostatic force, permitting it to balance for high-pressure zones undergone while drilling. Barytes' softness also shields it from damaging drilling tools and permits it to act as a lubricant while drilling.
In the North American region, particularly in the U.S., Y-o-Y growth in 2022 to 2023 is anticipated to be 3.3% in comparison with the 1.8% in previous years. Another reason for this expected growth is the medical sector where this mineral has huge potential to obstruct harmful radiations emitted during diagnosis.
Also, further applications are seen in the gastrointestinal tract; the density of the mineral prevents X-rays from penetrating through the tract and are obstructed due to the density of barite, with the tract being clearly visible in the reports.
As such, the U.S. barytes market is projected to stand at US$ 549.4 Mn by the end of 2032, with a market share of 91.3% in North America.
Can the Middle East Be a High Potential Market Manufacturers of Barytes?
Due to its 30% share in world oil production, the Middle East has a large share in the barytes market. Countries such as Iran, Saudi Arabia, UAE, Iraq, and Kuwait are the world's biggest oil-producing nations. One-third of the world's total oil production is produced in the Middle East, which was around 25.98 million barrels per day in 2020.
Middle Eastern crude oil production increased by 26.55 million barrels per day in the first quarter of 2021, indicating an increased need for baryte.
In 2021, global oil demand was approximately 96.5 million barrels per day. This is projected to boost production from Middle Eastern countries' oil and gas industries, resulting in an increase in baryte consumption in the region.
Attributed to these discussed factors, barytes market value in Saudi Arabia is projected to stand at US$ 12.6 Mn by the end of 2032, with a market share of 18.3% in the MEA region.
Category-Wise Analysis
Which Sector Will Account for a Vital Chunk of Baryte Consumption?
The O&G industry accounts for roughly 69.1% of global demand for barytes.
Given the importance of petroleum products in transportation and industrial end-use sectors, global demand for barite will persist until petroleum products are selected as the preliminary source of energy.
Baryte is insoluble in water, non-corrosive, inert, non-abrasive, and has high specific gravity, which allows it to be used as a weighting agent in drilling operations to remove cutting from bits, transport cutting to the surface to reduce friction in the drilling string, provide lubrication, control pressure, and prevent blow-outs. The O&G industry's future expansion implies that petroleum exploration will continue to expand, as will baryte consumption.
Daily worldwide demand for crude oil (including biofuels) was 99.7 million barrels per day in 2019. Due to the lockup and mobility consequences of COVID-19, this value declined to 91 million barrels per day in 2020, and increased to more than 96.5 million barrels per day in 2021. As a result, market expansion is likely to drive demand for barytes around the world over the forecast period.
The oil & gas sector is projected to provide a high value worth US$ 1.65 Bn over the forecast period of 2022 to 2032.
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Competitive landscape highlights only certain players
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Competition Landscape
Some of the key companies in the market include Milwhite Inc., Sachtleben Minerals GmbH & Co.KG, New Riverside Ochre, Newpark Resources Inc. and CIMBAR Performance Minerals, Deutsche Baryt Industrie, Halliburton, Spectrum Chemical Manufacturing Corporation, Anglo Pacific Minerals, Apmdc, Ashapura Group, Seaforth Mineral & baryte market Ore Co. Inc, Excalibar Minerals LLC.
Tier-1 players are looking to create future revenue generating opportunities in target markets. Tier-2 manufacturers have been reducing their margins in order to target price-sensitive and growing markets in Asia.
Fact.MR has provided detailed information about the overall strategies adopted by manufacturers of barytes along with their detailed overviews, including SWOT analysis and revenue generated from targeted baryte suppliers positioned across geographies, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.
Key Segments Covered in Barytes Industry Research
-
By End User :
- Oil and Gas Drilling
- Chemicals
- Other End Users
-
By Region :
- North America Barytes Market
- Latin America Barytes Market
- Europe Barytes Market
- APAC Barytes Market
- Middle East & Africa Barytes Market
Table of Content
- 1. Global Market: Executive Summary
- 2. Market Overview
- 3. Market Associated Indicators
- 4. Key Success Factors
- 5. Global Market - Pricing Analysis
- 6. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End User
- 7.1. Oil and Gas Drilling
- 7.2. Chemical
- 7.3. Other End User
- 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
- 8.1. North America
- 8.2. Latin America
- 8.3. Europe
- 8.4. Asia Pacific (APAC)
- 8.5. Middle East and Africa (MEA)
- 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 12. Asia Pacific (APAC) Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 14. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 15. Market Structure Analysis
- 16. Competition Analysis
- 16.1. Milwhite Inc.
- 16.2. Sachtleben Minerals GmbH & Co. KG
- 16.3. New Riverside Ochre Company, Inc.
- 16.4. CIMBAR Performance Minerals
- 16.5. Deutsche Baryt Industrie
- 16.6. Spectrum Chemical Manufacturing Corporation
- 16.7. Anglo Pacific Minerals
- 16.8. Apmdc
- 16.9. Ashapura Group
- 16.10. Seaforth Mineral & Barite Ore Co. Inc
- 16.11. Excalibar Minerals LLC.
- 16.12. Other Prominent Players (On Additional Request)
- 17. Assumptions & Acronyms
- 18. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 2: Global Market Value (US$ Mn) and Forecast By Region, 2018 to 2032
Table 3: North America Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 4: North America Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 5: US Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 6: US Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 7: Canada Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 8: Canada Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 9: Latin America Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 10: Latin America Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 11: Brazil Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 12: Brazil Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 13: Maxico Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 14: Maxico Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 15: Europe Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 16: Europe Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 17: Germany Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 18: Germany Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 19: UK Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 20: UK Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 21: France Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 22: France Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 23: Spain Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 24: Spain Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 25: Italy Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 26: Italy Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 27: Russia Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 28: Russia Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 29: Asia Pacific Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 30: Asia Pacific Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 31: China Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 32: China Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 33: Japan Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 34: Japan Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 35: India Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 36: India Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 37: South Korea Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 38: South Korea Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 39: Australia Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 40: Australia Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 41: MEA Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 42: MEA Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 43: South Africa Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 44: South Africa Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 45: Saudi Arabia Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 46: Saudi Arabia Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 47: UAE Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 48: UAE Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
Table 49: Israel Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Table 50: Israel Market Value (US$ Mn) and Forecast by Country, 2018 to 2032
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List Of Figures
Figure 1: Global Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 2: Global Market Value Y-o-Y Growth and Forecast, 2018 to 2032
Figure 3: Global Market incremental $ opportunity, 2020 to 2032
Figure 4: Global Market Share Forecast By End user, 2022 and 2032
Figure 5: Global Market Y-o-Y Growth Rate By End user, 2018 to 2032
Figure 6: Global Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Figure 7: Global Market Attractiveness Analysis By End user, 2022 to 2032
Figure 8: Global Market Share Forecast By Region, 2022 and 2032
Figure 9: Global Market Y-o-Y Growth Rate By Region, 2018 to 2032
Figure 10: Global Market Value (US$ Mn) and Forecast By Region, 2018 to 2032
Figure 11: Global Market Attractiveness Analysis By Region, 2022 to 2032
Figure 12: North America Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 13: North America Market Share Forecast By End user, 2022 and 2032
Figure 14: North America Market Y-o-Y Growth Rate By End user, 2018 to 2032
Figure 15: North America Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Figure 16: North America Market Attractiveness Analysis By End user, 2022 to 2032
Figure 17: North America Market Share Forecast By Country, 2022 and 2032
Figure 18: North America Market Y-o-Y Growth Rate By Country, 2018 to 2032
Figure 19: North America Market Value (US$ Mn) and Forecast By Country, 2018 to 2032
Figure 20: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 21: North America Market Incremental $ opportunity by Country, 2020 to 2032
Figure 22: Latin America Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 23: Latin America Market Share Forecast By End user, 2022 and 2032
Figure 24: Latin America Market Y-o-Y Growth Rate By End user, 2018 to 2032
Figure 25: Latin America Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Figure 26: Latin America Market Attractiveness Analysis By End user, 2022 to 2032
Figure 27: Latin America Market Share Forecast By Country, 2022 and 2032
Figure 28: Latin America Market Y-o-Y Growth Rate By Country, 2018 to 2032
Figure 29: Latin America Market Value (US$ Mn) and Forecast By Country, 2018 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 31: Latin America Market Incremental $ opportunity by Country, 2020 to 2032
Figure 32: Europe Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 33: Europe Market Share Forecast By End user, 2022 and 2032
Figure 34: Europe Market Y-o-Y Growth Rate By End user, 2018 to 2032
Figure 35: Europe Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Figure 36: Europe Market Attractiveness Analysis By End user, 2022 to 2032
Figure 37: Europe Market Share Forecast By Country, 2022 and 2032
Figure 38: Europe Market Y-o-Y Growth Rate By Country, 2018 to 2032
Figure 39: Europe Market Value (US$ Mn) and Forecast By Country, 2018 to 2032
Figure 40: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 41: Europe Market Incremental $ opportunity by Country, 2020 to 2032
Figure 42: Asia Pacific Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 43: Asia Pacific Market Share Forecast By End user, 2022 and 2032
Figure 44: Asia Pacific Market Y-o-Y Growth Rate By End user, 2018 to 2032
Figure 45: Asia Pacific Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Figure 46: Asia Pacific Market Attractiveness Analysis By End user, 2022 to 2032
Figure 47: Asia Pacific Market Share Forecast By Country, 2022 and 2032
Figure 48: Asia Pacific Market Y-o-Y Growth Rate By Country, 2018 to 2032
Figure 49: Asia Pacific Market Value (US$ Mn) and Forecast By Country, 2018 to 2032
Figure 50: Asia Pacific Market Attractiveness Analysis by Country, 2022 to 2032
Figure 51: Asia Pacific Market Incremental $ opportunity by Country, 2020 to 2032
Figure 52: MEA Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 53: MEA Market Share Forecast By End user, 2022 and 2032
Figure 54: MEA Market Y-o-Y Growth Rate By End user, 2018 to 2032
Figure 55: MEA Market Value (US$ Mn) and Forecast By End user, 2018 to 2032
Figure 56: MEA Market Attractiveness Analysis By End user, 2022 to 2032
Figure 57: MEA Market Share Forecast By Country, 2022 and 2032
Figure 58: MEA Market Y-o-Y Growth Rate By Country, 2018 to 2032
Figure 59: MEA Market Value (US$ Mn) and Forecast By Country, 2018 to 2032
Figure 60: MEA Market Attractiveness Analysis by Country, 2022 to 2032
Figure 61: MEA Market Incremental $ opportunity by Country, 2020 to 2032
Figure 62: US Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 63: US Market Value, By End user, 2022 & 2032
Figure 64: Canada Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 65: Canada Market Value, By End user, 2022 & 2032
Figure 66: Mexico Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 67: Mexico Market Value, By End user, 2022 & 2032
Figure 68: Brazil Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 69: Brazil Market Value, By End user, 2022 & 2032
Figure 70: Germany Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 71: Germany Market Value, By End user, 2022 & 2032
Figure 72: France Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 73: France Market Value, By End user, 2022 & 2032
Figure 74: Italy Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 75: Italy Market Value, By End user, 2022 & 2032
Figure 76: Spain Market Value (US$ Mn),Forecast and Analysis, 2022 to 2032
Figure 77: Spain Market Value, By End user, 2022 & 2032
Figure 78: UK Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 79: UK Market Value, By End user, 2022 & 2032
Figure 80: Russia Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 81: Russia Market Value, By End user, 2022 & 2032
Figure 82: China Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 83: China Market Value, By End user, 2022 & 2032
Figure 84: India Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 85: India Market Value, By End user, 2022 & 2032
Figure 86: Japan Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 87: Japan Market Value, By End user, 2022 & 2032
Figure 88: South Korea Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 89: South Korea Market Value, By End user, 2022 & 2032
Figure 90: Australia Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 91: Australia Market Value, By End user, 2022 & 2032
Figure 92: Saudi Arabia Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 93: Saudi Arabia Market Value, By End user, 2022 & 2032
Figure 94: South Africa Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 95: South Africa Market Value, By End user, 2022 & 2032
Figure 96: UAE Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 97: UAE Market Value, By End user, 2022 & 2032
Figure 98: Israel Market Value (US$ Mn), Forecast and Analysis, 2022 to 2032
Figure 99: Israel Market Value, By End user, 2022 & 2032
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the size of the global barytes market?
Currently, the global barytes market is pegged at US$ 1.63 Bn.
At what CAGR is the barytes market expected to progress?
Baryte consumption is anticipated to increase at a CAGR of around 3.7% over the period of 2022-2032.
How has the market fared over the past half-decade?
Barytes market size expanded at a CAGR of around 2.7% during 2017-2021.
Which are the major companies in the barytes market?
Milwhite Inc., Sachtleben Minerals GmbH & Co., New Riverside Ochre, Newpark Resources Inc. and Cimbar Performance Minerals are major suppliers of baryte.
What outlook does the U.S. market provide for baryte manufacturers?
The U.S. is estimated to hold around 25.7% of the global barytes market value by 2032.
Barytes Market