Barite Market Size, Share & Trends Report

Barite Market Size, Share & Trends Analysis Report By Application (Oil & Gas, Chemicals, Fillers), By Region (North America, Europe, APAC, CSA, MEA), And Segment Forecasts, 2020 - 2027

  • Published Date: Oct, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-171-1
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 104

Report Overview

The global barite market size was valued at USD 1.55 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.8% from 2020 to 2027. The market is expected to be affected by the severe slowdown in oil & gas production in the short term with a strong recovery expected in the long term. Barite is mainly used in the oil & gas industry as a weighing agent in drilling fluids. The rising production of oil & gas around the globe, coupled with increasing penetration of barite in drilling fluids, is a key factor expected to boost the market growth in the long term. The outbreak of the COVID-19 pandemic in 2020 is expected to severely affect the product demand in the short term as oil producers are crippled with excess supply and diminished demand.

U.S. barite market size

The consumption of barite in the U.S. spiked sharply by more than 80% owing to a significant increase in rig counts, particularly for offshore drilling, in most leading oil- and gas-producing states. In terms of volume, roughly 90% of the barite sold in the U.S. was for oil & gas drilling markets while the remaining 10% was for other industrial end uses, such as chemicals and filler manufacturing.

The U.S. represents one of the largest markets for the product. A steady increase in the investments for exploration and production of tight oil has played a key role in fostering the market growth. The production of tight oil in the U.S. has ramped up significantly over the past few years and is projected to reach its peak by 2029.

Furthermore, the gradual resumption of the country’s manufacturing activities is expected to benefit the product demand in the U.S. Barite is also used as a filler in the plastic manufacturing as well as paints and coatings, albeit in small quantities. The economic recovery from 2021 is likely to push the demand for barite from the industrial sectors, such as plastic manufacturing.

Application Insights

The oil & gas application segment dominated the market and accounted for a revenue share of 77.1% in 2019. Post the COVID-19 crisis, the global oil & gas industry is expected to recover from 2022 and grow at a moderate pace and is expected to reach its peak until 2029, thereby indicating a steady deployment of rigs, particularly in offshore fields. This is likely to drive the demand for drilling fluids, thereby creating a lucrative platform for market growth.

The fillers application segment is expected to expand at the fastest CAGR of 4.3%, in terms of revenue, from 2020 to 2027 owing to increasing penetration of the product as a filler in paints and plastics. The rapid growth of the construction sector in emerging economies of Asia Pacific is expected to stimulate the production of paints and coatings and plastics, which, in turn, is likely to foster the demand for fillers, such as barite.

Global barite market share

The chemicals application segment is expected to witness significant growth over the forecast period. Major chemicals manufactured from barite include oxides, chlorides, carbonates, sulfates, and peroxides. For instance, barium carbonate is used in the glass industry as a flux agent. It is also used to add clarity in electro-ceramics and for the removal of impurities in phosphoric acid.

Regional Insights

North America dominated the market and accounted for a revenue share of 39.6% in 2019. The region is predicted to maintain its lead over the coming years. A significant boost in the production of tight oil, particularly in the U.S., has resulted in a significant demand for the product. Canada is yet another prominent market in the region as there are a number of oil rigs in the country for which barite is largely used for well drilling services.

The European market suffered the brunt of the COVID-19 pandemic in 2020. The European GDP is predicted to contract by more than 7% in 2020. As opposed to other oil-producing regions, such as North America and the Middle East and Africa, the value-added segments, such as filler and chemical industries, in Europe have a significant share in the Europe barite market.

Asia Pacific is predicted to expand at the fastest CAGR of 4.8%, in terms of revenue, from 2020 to 2027. According to the United States Geological Survey (USGS), China was the largest producer of barite in the world with production estimated at 2900 kilotons in 2019. Owing to the presence of minimal oil rigs in China, the product demand in China is significantly less as compared to its supply, and therefore China exports most of its barite to other nations, particularly to the U.S.

The Middle East and Africa emerged as the second-largest regional market in 2019. The region is one of the primary producers of oil. In the long term, the region is likely to shift toward offshore oil resources for its oil production as conventional onshore oil resources are on the verge of a decline. This is expected to benefit the market growth as the percentage of barite in drilling fluids for offshore drilling is higher than that of onshore drilling.

Key Companies & Market Share Insights

The global market is highly competitive and fragmented. China is the largest producer of barite, although it is highly fragmented comprising of several small to medium-scale producers. Major companies are striving for leadership positions through various strategic initiatives, such as capacity expansion and cost-effective production. Some prominent players in the global barite market include:

  • Ashapura Minechem Limited

  • Schlumberger Limited

  • The Andhra Pradesh Mineral Development Corporation Limited

  • Excalibar Minerals LL C

  • Sojitz Corporation

  • Baker Hughes Incorporated

  • International Earth Products LLC

  • Anglo Pacific Minerals

  • Milwhite Inc.

Barite Market Report Scope

Report Attribute


Market size value in 2020

USD 1.17 billion

Revenue forecast in 2027

USD 2.08 billion

Growth Rate

CAGR of 3.8% from 2020 to 2027

Market demand in 2020

7,274.1 kilotons

Volume forecast in 2027

11,612.5 kilotons

Growth Rate 

CAGR of 2.7% from 2020 to 2027

Base year for estimation


Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in kilotons, revenue in USD million/billion, and CAGR from 2020 to 2027

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; Russia; Norway; China; India; Brazil

Key companies profiled

Ashapura Minechem Limited; Baker Hughes Incorporated; Schlumberger Limited; International Earth Products LLC; Anglo Pacific Minerals; The Andhra Pradesh Mineral Development Corporation Limited

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global barite market report on the basis of application and region:

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • Oil & Gas

    • Chemicals

    • Fillers

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Russia

      • Norway

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

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