The new report by Expert Market Research titled, ‘Global Barite Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global barite market, assessing the market based on its segments like grades, deposit types, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2015-2025)

• Forecast CAGR (2020-2025): 6%

The increasing production of oil and gas across the globe is the major driving factor for the increasing demand for barite. This demand is buttressed by the utility of barite in increasing the hydrostatic pressure to reduce high pressure-zones during drilling activities. Barite is also utilised in the do-it-yourself sector, particularly in coatings, paints, rubber, and ceramics, and is expected to witness increased demand from the sector in the coming years. The global market for barite is significantly supported by the industry growth in regions like North America and the Asia Pacific.

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Industry Definition and Segmentation

Barite is a mineral with the chemical formula BaSO4, which contains barium sulphate. It is a transparent to translucent mineral, which comes in blue, brown, yellow, and grey colours and can even be colourless. It is an important mineral because of its usage in the exploration and advancement of petroleum and natural gas resources. Its commercial deposits are found mainly in the United States, China, India, and Morocco.

The different grades of barite in the market include:

• Grade 3.9
• Grade 4.0
• Grade 4.1
• Grade 4.2
• Grade 4.3
• Grade Above 4.3
• Others

Based on the type of deposit, the industry is segmented into:

• Bedding
• Residual
• Vein
• Cavity filling
• Others

On the basis of end use, the industry is categorised into:

• Paints and Coatings
• Textiles
• Rubber and Plastics
• Adhesives
• Pharmaceuticals
• Others

The regional markets of the product are segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

The rising production of oil and gas across the globe, coupled with the rising demand for drilling fluids, has accelerated the growth of the barite market. Barite is an ideal drilling fluid additive because of its high density, low hardness, low oil consumption, and its availability in abundance. The United States has a major share in the barite market, mainly propelled by its oil and gas drilling activities. The do-it-yourself sector in the Asia Pacific is also likely to bolster the market growth resulting in the anticipated CAGR of 6% in the forecast period.

Key Market Players

The major players in the market 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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Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

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