The India barite market size is anticipated to reach USD 63.7 million by 2030 and is projected to grow at a CAGR of 7.6% from 2024 to 2030. The increasing usage of barite in various industries such as pharmaceuticals, rubber & plastics, and cement, and the surge in adoption of barite in the paint and medical sectors is driving the market.
The COVID-19 pandemic negatively impacted the barite market, causing disruptions across the industry and influencing supply chains, demand dynamics, and market trends. With reduced demand for oil and gas due to decreased industrial activity and travel restrictions, drilling operations were scaled back, leading to lower consumption of barite as a weighting agent in drilling fluids. This decline in drilling activity resulted in reduced demand for barite and affected the demand for barite.
In the pharmaceutical industry, barite is utilized as a contrasting agent in diagnostic medical tests such as X-rays and other imaging procedures. Its high specific gravity and chemical inertness make it an ideal choice for enhancing the visibility and accuracy of medical imaging, driving its adoption in the healthcare sector.
The surge in adoption of barite in the paint sector is another key driver of market growth. Barite is used as a filler and extender in paints and coatings due to its excellent hiding power, brightness, and stability. As the demand for high-quality paints and coatings continues to rise across various industries, such as construction, automotive, and consumer goods, the usage of barite in this sector is expected to increase significantly.
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The COVID-19 pandemic negatively impacted the barite market, causing disruptions across the industry and influencing supply chains, demand dynamics, and market trends. With reduced demand for oil and gas due to decreased industrial activity and travel restrictions, drilling operations were scaled back, leading to lower consumption of barite as a weighting agent in drilling fluids. This decline in drilling activity resulted in reduced demand for barite and affected the demand for barite.
In the pharmaceutical industry, barite is utilized as a contrasting agent in diagnostic medical tests such as X-rays and other imaging procedures. Its high specific gravity and chemical inertness make it an ideal choice for enhancing the visibility and accuracy of medical imaging, driving its adoption in the healthcare sector.
The surge in adoption of barite in the paint sector is another key driver of market growth. Barite is used as a filler and extender in paints and coatings due to its excellent hiding power, brightness, and stability. As the demand for high-quality paints and coatings continues to rise across various industries, such as construction, automotive, and consumer goods, the usage of barite in this sector is expected to increase significantly.
India Barite Market Report Highlights
- Based on application, the oil & gas segment held the market with the largest revenue share of 69.7% in 2023. This can be attributed to the rising demand for natural gas and oil products. The fillers segment is expected to witness at the fastest CAGR over the forecast period, led by the increasing need for radiation-proof structures in hospitals, laboratories, and power plants
- In July 2023, Vishnu Chemicals acquired Ramadas Minerals Pvt Ltd, a company specializing in the beneficiation of Baryte ores. This strategic move by Vishnu Chemicals is in line with its vision to provide quality materials to its customers worldwide. By investing in Ramadas Minerals, Vishnu Chemicals aims to streamline its raw material costs. The collaboration is expected to enhance product quality and increase yields, thereby bolstering Vishnu Chemicals' competitive edge in the market and reducing vulnerability to price fluctuations
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
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This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. India Barite Market Variables, Trends & Scope
Chapter 4. India Barite Market: Application Estimates & Trend Analysis
Chapter 5. India Barite Market - Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- India Barite Products, Inc.
- BAKTHA MINERALS PVT LTD
- Gayathri Enterprises
- Kaomin Industries LLP
- Imperial Industrial Minerals Company
- Intercity Enterprises
- Arunai Products And Services Private Limited
- Ashok Mineral Enterprises
- Gimpex
- Goldy Minerals
- Ankur Rasayan
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | June 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 38.5 Million |
| Forecasted Market Value ( USD | $ 63.7 Million |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | India |
| No. of Companies Mentioned | 11 |
