Global Barite Market Size & Outlook, 2023-2030
Global barite market, 2018-2030 (US$M)
Related Markets
Global barite market highlights
- The global barite market generated a revenue of USD 1,505.0 million in 2023 and is expected to reach USD 2,131.2 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.1% by 2030.
- In terms of segment, oil & gas accounted for a revenue of USD 1,153.9 million in 2023.
- Fillers is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Venezuela is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 1,505.0 million |
| Market revenue in 2030 | USD 2,131.2 million |
| Growth rate | 5.1% (CAGR from 2023 to 2030) |
| Largest segment | Oil & gas |
| Fastest growing segment | Fillers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oil & Gas, Chemicals, Fillers, Other Applications |
Other key industry trends
- In terms of revenue, the North America accounted for 40.9% of the global barite market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Venezuela is the fastest growing regional market and is projected to reach USD 10.2 million by 2030.
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Barite Market Scope
Barite Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global barite market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to barite market will help companies and investors design strategic landscapes.
Oil & gas was the largest segment with a revenue share of 76.67% in 2023. Horizon Databook has segmented the Global barite market based on oil & gas, chemicals, fillers, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
Barite is a mineral and is used as a weighting agent in fluids used in the drilling of oil and natural gas wells. The U.S. oil & gas industry represents one of the largest markets for the barite. A steady increase in the investments for exploration and production of tight oil has played a key role in driving the market growth.
The global economy is likely to witness a twofold increase over the next two decades with a growing average of 3.4% p.a. (at PPP exchange rates). The development is determined by the rise in productivity (GDP per person). The anticipated growth of the world's economy is determined by developing economies, such as India and China, which together account for around half of the rise.
The demand for energy is increasing at a rapid pace. Renewables, in tandem with hydroelectric power and nuclear power, are also key sources of energy. This is likely to account for half of the growth in energy supplies almost for the next two decades. Even so, coal, oil, and gas are the dominant sources of energy and powering the world economy.
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Target buyers of Global barite market databook
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Our clientele includes a mix of barite market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of global-level data and insights on the Global barite market , including forecasts for subscribers. This global databook contains high-level insights into Global barite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global barite market size, by regions, 2018-2030 (US$M)
Top 10 countries: Barite market size, 2023 (US$M)
Global barite market share, by application, 2023 & 2030 (%, US$M)
Barite market: Opportunity assessment by country
Global barite market, by region, 2023 (US$M)
Related regional statistics
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