North America Barite Market Size & Outlook, 2023-2030
North America barite market, 2018-2030 (US$M)
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North America barite market highlights
- The North America barite market generated a revenue of USD 615.5 million in 2023.
- The market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, oil & gas was the largest revenue generating application in 2023.
- Fillers is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 615.5 million |
| Market revenue in 2030 | USD 880.1 million |
| Growth rate | 5.2% (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 |
| Key market players worldwide | Pacific Booker Minerals Inc, Calibre Mining Corp, Schlumberger Ltd, PVS Chemicals, Ashapura Group, Cimbar Performance Minerals |
Other key industry trends
- In terms of revenue, North America region accounted for 40.9% of the global barite market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 257.8 million by 2030.
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Barite Market Scope
Barite Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 82.36% in 2023. Horizon Databook has segmented the North America barite market based on oil & gas, chemicals, fillers, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The consumption of barite in North America is increasing owing to the flourishing oil & gas industry in the region. This is because barite is primarily used as a weighting agent in drilling fluids during oil & gas exploration and production.
The demand for it is also driven by the expansion of the energy generation industry in North America. The growth of the oil & gas industry in different countries of the region due to initiatives undertaken by their respective governments is anticipated to propel the demand for barite over the forecast period.
For instance, in April 2022, the Government of Canada approved the offshore oil project proposed by Equinor ASA. Similarly, in January 2022, the National Hydrocarbons Commission (CNH) of Mexico authorized onshore & offshore plans of Pemex Exploracion y Produccion S.A. de C.V. (PEP) involving an investment worth USD 800.0 million.
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Our clientele includes a mix of barite market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America barite market , including forecasts for subscribers. This continent databook contains high-level insights into North America barite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America barite market size, by country, 2018-2030 (US$M)
North America Barite Market Outlook Share, 2023 & 2030 (US$M)
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