Barite, a mineral composed of barium sulfate, holds significant importance in various industries, including oil and gas drilling, paints and coatings, pharmaceuticals, and rubber production. The North America region, with its burgeoning industrialization and expanding economies, represents a crucial market for barite. This article delves into the dynamics shaping the North...
The Barite Market size is expected to be worth around USD 2.37 billion by 2033, from USD 1.51 billion in 2023, growing at a CAGR of 4.6% during the forecast period from 2023 to 2033. Barite is extensively used in drilling operations as a weighting agent for fluids, primarily in the oil and gas industry. The COVID-19 pandemic in 2023 significantly reduced its demand, leading to a decline in...
Barite is a naturally occurring barium-based mineral that has high specific gravity and chemical inertness and is found in a wide range of colors like yellow, blue, brown, gray, white, etc. Due to its excellent properties like high purity, low oil absorption, narrow particle size distribution, and whiteness, barite is highly used in drilling, medical, automotive, pain and coating industries,...
The global barite market is estimated to be valued at $1,712.1 million by 2028, surging from $1,232.0 million in 2020, at a noteworthy CAGR of 4.3%.
Impact Analysis of COVID-19 on the Barite Market
The global market for barite is estimated to experience a low growth amid the COVID-19 pandemic. This low growth is the result of decreased demand for barite in oil extraction during the...
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