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Published Date: 2015-07-13Number of Pages: 98

Barite Market for Oil and Gas, Chemicals, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023


Barite, also known as baryte and tiff, is a mineral composed of barium sulfate. It is insoluble, chemically inert, non-toxic and extremely stable over extended periods of time. Barite is known for its high specific gravity (4.50 g/cm3) and weight. Barite manifests itself as concretions in sedimentary rocks. Pure barite weighs twice as much as ordinary rocks of common size. A typical barite mining operation employs the open pit method to extract the ore. Barite is also mined using underground operations for deeper deposits.

Oil and gas and chemicals are the major applications of barite. Other applications include fillers and radiation shielding. Oil and gas was the largest application segment driving the global barite market in 2014. Barite is used as a weighting agent in oil and gas drilling. It is pulverized and mixed with water and other materials in the drilling process. Barite is then pumped into the drill hole. The weight of this mixture restrains the force of oil and gas when these are released from the ground. This allows rig operators to contain the explosive release of oil and gas. In terms of volume, the oil and gas segment accounted for over 80% share of the barite market in 2014. 

In terms of region, the global barite market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for more than 40% share of the barite market in terms of volume in 2014. It was the largest market for barite, followed by Asia Pacific, Europe, Middle East & Africa, and Latin America. Majority of barite is used in drilling fluid applications in the oil and gas industry. Chemical and filler applications account for over 45% of barite in terms of demand in Europe.

Steady increase in the production of oil and gas and rise in application areas for barium compounds are expected to boost demand for barite. High specific gravity of barite coupled with its insolubility in water and chemical inactivity makes it a suitable candidate as a weighting agent in oil and gas industry. The chemical grade barite can be used to produce barium-containing compounds and salts which have a wide range of commercial and medical application. Barite can be used to prepare barium meal which is a diagnostic test used to detect abnormalities of the stomach, esophagus and small bowel using X-ray imaging. However, availability of substitutes such as itabirite, iron ore, celestite, hematite and illmenite could hamper market growth. These minerals can be used as weighting agents in drilling fluid applications. They have higher density vis-à-vis barite. This affects both the rheology of fluids and settling rate of the weight material. Barite can also be used in the nuclear industry. It has the ability to absorb gamma radiation and can be added to concrete aggregate in the construction of atomic reactor. Heavyweight concrete is generally used for radiation shielding and nuclear and medicinal purposes. Increased density of concrete is achieved through heavy aggregates such as barite.

The barite market is moderately fragmented; it is dominated by large and medium barite mining companies. Many small and medium companies involved in the extraction and processing of barite are located across the globe. Key players in the market include The Andhra Pradesh Mineral Development Corporation Ltd (APMDC Ltd), Ashapura Group of Industries, Anglo Pacific Minerals, China Shenzhou Mining and Resources Inc., Excalibar Minerals LLC, International Earth Products LLC, Mil-Spec Industries Corporation, Milwhite Inc., Oren Hydrocarbons Private Limited, P&S Barite Mining Co., Ltd., and CIMBAR Performance Minerals. Companies are adopting aggressive marketing tactics to remain competitive in the market. Additionally, companies are carrying out strategic acquisition and merger activities to increase their market share.

barite-market

Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Scope
1.3.1 Assumptions
1.4 Research Methodology

Chapter 2 Executive Summary
2.1 Global Barite Market, 2014 – 2023 (Kilo Tons) (US$ Mn)
2.2 Global Barite Market, Snapshot (2014 and 2023)

Chapter 3 Barite Market - Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
3.3.1 Increasing Production of Oil and Gas is Expected to Raise Demand for Barite
3.3.1.1 Global Oil Production, 2015 – 2025 (Mn Tons)
3.3.2 Increasing Application Area of Barium Compounds is Expected to Boost Demand for Barite
3.3.2.1 Global Medical Imaging Sensor Market Revenue, 2015 – 2023 (US$ Bn)
3.4 Market Restraints
3.4.1 Availability of Substitutes Could Hamper Growth of the Market to Some Extent
3.5 Opportunities
3.5.1 Potential Applications in Nuclear Industry
3.5.1.1 Global Nuclear Energy Industry Revenue, 2015 – 2023 (US$ Bn)
3.6 Porter’s Five Forces Model
3.6.1 Bargaining Power of Suppliers
3.6.2 Bargaining Power of Buyers
3.6.3 Threat from Substitutes
3.6.4 Threat of New Entrants
3.6.5 Degree of Competition
3.7 Global Barite Market: Market Attractiveness
3.8 Global Barite Market: Company Market Share (2014)

Chapter 4 Price Trend Analysis
4.1 Barite Price Trend Analysis, 2014 - 2023
4.1.1 Barite Price Trend, 2014 - 2023 (US$/Ton)

Chapter 5 Barite Market – Application Analysis
5.1 Global Barite Market : Application Overview
5.1.1 Global Barite Market Volume Share, by Application, 2014 & 2023
5.2 Oil & Gas
5.2.1 Global Barite Market for Oil & Gas, 2014 - 2023 (Kilo Tons) (US$ Mn)
5.3 Chemicals
5.3.1 Global Barite Market for Chemicals, 2014 - 2023 (Kilo Tons) (US$ Mn)
5.4 Others (Including fillers and radiation shielding)
5.4.1 Global Barite Market for Other Applications, 2014 - 2023 (Kilo Tons) (US$ Mn)

Chapter 6 Barite Market – Regional Analysis
6.1 Global Barite Market: Regional Overview
6.1.1 Global Barite Market Volume Share, by Region, 2014 & 2023
6.2 North America
6.2.1 North America Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.2.2 North America Barite Market Revenue, by Application, 2014 - 2023 (US$ Mn)
6.2.3 U.S.
6.2.3.1 U.S. Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.2.3.2 U.S. Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.2.4 Rest of North America (RoNA)
6.2.4.1 RoNA Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.2.4.2 RoNA Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3 Europe
6.3.1 Europe Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.2 Europe Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3.3 France
6.3.3.1 France Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.3.2 France Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3.4 U.K.
6.3.4.1 U.K. Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.4.2 U.K. Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3.5 Norway
6.3.5.1 Norway Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.5.2 Norway Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3.6 Germany
6.3.6.1 Germany Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.6.2 Germany Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3.7 Russia
6.3.7.1 Russia Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.7.2 Russia Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.3.8 Rest of Europe (RoE)
6.3.8.1 RoE Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.3.8.2 RoE Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.4 Asia Pacific
6.4.1 Asia Pacific Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.4.2 Asia Pacific Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.4.3 China
6.4.3.1 China Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.4.3.2 China Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.4.4 India
6.4.4.1 India Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.4.4.2 India Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.4.5 ASEAN
6.4.5.1 ASEAN Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.4.5.2 ASEAN Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.4.6 Rest of Asia Pacific
6.4.6.1 Rest of Asia Pacific Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.4.6.2 Rest of Asia Pacific Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.5 Latin America
6.5.1 Latin America Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.5.2 Latin America Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.5.3 Brazil
6.5.3.1 Brazil Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.5.3.2 Brazil Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.5.4 Rest of Latin America
6.5.4.1 Rest of Latin America Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.5.4.2 Rest of Latin America Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.6 Middle East & Africa (MEA)
6.6.1 MEA Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.6.2 MEA Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.6.3 GCC
6.6.3.1 GCC Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.6.3.2 GCC Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.6.4 South Africa
6.6.4.1 South Africa Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.6.4.2 South Africa Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
6.6.5 Rest of MEA
6.6.5.1 Rest of MEA Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
6.6.5.2 Rest of MEA Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)

Chapter 7 Company Profiles
7.1 The Andhra Pradesh Mineral Development Corporation Ltd
7.2 Ashapura Group of Industries
7.3 Anglo Pacific Minerals
7.4 China Shen Zhou Mining and Resources, Inc.
7.5 Excalibar Minerals LLC
7.6 International Earth Products LLC
7.7 Mil-Spec Industries Corporation
7.8 Milwhite Inc.
7.9 Oren Hydrocarbons Private Limited
7.10 P&S Barite Mining Co., Ltd.
7.11 CIMBAR Performance Minerals

Chapter 8 Primary Research – Key Findings

List of Figures 

FIG. 1 Barite Market: Market Segmentation
FIG. 2 Global Barite Market, 2014 – 2023 (Kilo Tons) (US$ Mn)
FIG. 3 Barite Market: Value Chain Analysis
FIG. 4 Global Oil Production, 2015 – 2025 (Mn Tons)
FIG. 5 Global Medical Imaging Sensor Market Revenue, 2015 – 2023 (US$ Bn)
FIG. 6 Global Nuclear Energy Industry Revenue, 2015 – 2023 (US$ Bn)
FIG. 7 Barite Market: Porter’s Five Forces Model Analysis
FIG. 8 Global Barite Market: Market Attractiveness
FIG. 9 Global Barite Market: Market Share
FIG. 10 Barite Price Trend, 2014 - 2023 (US$/Ton)
FIG. 11 Global Barite Market Volume Share, by Application, 2014 & 2023
FIG. 12 Global Barite Market for Oil & Gas, 2014 - 2023 (Kilo Tons) (US$ Mn)
FIG. 13 Global Barite Market for Chemicals, 2014 - 2023 (Kilo Tons) (US$ Mn)
FIG. 14 Global Barite Market for Other Applications, 2014 - 2023 (Kilo Tons) (US$ Mn)
FIG. 15 Global Barite Market Volume Share, by Region, 2014 & 2023

List of Tables

TABLE 1 Global Barite Market, Snapshot (2014 and 2023)
TABLE 2 Global Barite Market Drivers: Impact Analysis
TABLE 3 Global Barite Market Restraints: Impact Analysis
TABLE 4 North America Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 5 North America Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 6 U.S. Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 7 U.S.  Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 8 RoNA Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 9 RoNA Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 10 Europe Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 11 Europe Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 12 France Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 13 France Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 14 U.K. Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 15 U.K. Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 16 Norway Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 17 Norway Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 18 Germany Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 19 Germany Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 20 Russia Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 21 Russia Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 22 RoE Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 23 RoE Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 24 Asia Pacific Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 25 Asia Pacific Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 26 China Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 27 China Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 28 India Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 29 India Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 30 ASEAN Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 31 ASEAN Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 32 Rest of Asia Pacific Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 33 Rest of Asia Pacific Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 34 Latin America Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 35 Latin America Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 36 Brazil Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 37 Brazil Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 38 Rest of Latin America Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 39 Rest of Latin America Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 40 MEA Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 41 MEA Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 42 GCC Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 43 GCC Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 44 South Africa Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 45 South Africa Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)
TABLE 46 Rest of MEA Barite Market Volume, by Application, 2014 – 2023 (Kilo Tons)
TABLE 47 Rest of MEA Barite Market Revenue, by Application, 2014 – 2023 (US$ Mn)

Barite is a mineral composed of barium sulfate. It is usually colorless or milky white. It can also be found in different shades of blue, green, or yellow. Barite manifests itself as concretion in sedimentary rocks and has a high specific gravity of 4.50 g/cm3. It is used in broad applications in various industries, ranging from oil and gas to chemicals. In terms of demand, oil and gas accounts for major share of the barite market.

This study analyzes, estimates, and forecasts the global barite market in terms of volume (Kilo Tons) and revenue (US$ Mn) from 2014 to 2023. Market numbers given in the report describe the global demand for barite, but not the production and supply. The barite report also analyzes several driving and restraining factors and their impact on the market during the forecast period.

The report provides a detailed analysis of the barite market by key applications. It segments the market into key applications including oil and gas, chemicals, and others (fillers and radiation shielding). The report also segments the market based on major geographies including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It further provides the volume and revenue for each application segment for each region.

Based on the application segment, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain from raw material manufacturers to end-users. Additionally, the study analyzes market competition using Porter’s Five Forces analysis. 
The report includes an overview of market share of key companies operating in the global barite market. Market share of companies has been derived based on production by manufacturers of barite. Key market participants profiled in the study include The Andhra Pradesh Mineral Development Corporation Ltd (APMDC Ltd) Ashapura Group of Industries, Anglo Pacific Minerals, China Shenzhou Mining and Resources Inc, Excalibar Minerals LLC, International Earth Products, Mil-Spec Industries Corporation, Milwhite Inc., Oren Hydrocarbons Private Limited, P&S Barite Mining Co., Ltd., and CIMBAR Performance Minerals. Profiles of key participants comprise important parameters such as company overview, financial overview, business strategy, and recent developments.

Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis, and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities. 

Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases and webcasts specific to the companies operating in the market. Secondary sources referred for this study include the European Union (EU), the Rocks & Minerals Magazine, the United States Geological Survey (USGS), ICIS, and company presentations.

The report segments the global barite market as:
  • Barite Market & Application Analysis
    • Oil and gas
    • Chemicals
    • Others (Including fillers and radiation shielding)
  • Barite Market - & Regional Analysis
    • North America
      • U.S.
      • Rest of North America
    • Europe
      • France
      • UK
      • Norway
      • Germany
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • Middle East & Africa
      • GCC countries
      • South Africa
      • Rest of MEA