The chemical formula of Barite is BaSo4, and this is a barium sulfate composition. The name Barite is derived from the Greek name “barys” which means heavy. 4.5 is the specific gravity of Barite.
For a non-metallic material, this specific gravity is exceptional. The Barite’s specific gravity is suitable for a wide range of medical, industrial, and manufacturing use.
Barite also serves the principal ore of barium. Barite forms a series of barium analog to strontium-rich celestite.
India and China are the major barite production areas of the world. 2.7711 million tons of barite were produced by China in 2016, and 1.1616 million tons of barite were produced by India.
The United States is the lead importing country and India, and China is the main exporters. Because of the consumption drop of barite in the US, there is a great impact on global consumption of barite.
From 2012 to 2017, the total global consumption of barite fell from 9220kt to 6882kt and there is a 5.68% average decrease.
The cost of barite rose was 69 dollars per ton in 2012. In 2013, the cost was $74 per ton. $77 per ton is the approximate value of barite now. The global consumption of Barite will continuously decrease in the future according to a prediction.
According to that theory, $86 will be the average cost and 6.338 million tons will be the amount of barite consumption by 2023.
Table of Contents
Barite Market Definition
In 2018, $2688 million was the size of the global barite market. By the end of 2026, the size grows up to $4316.7 million at a CAGR of 6.1% by an estimation.
Barite is a natural and primary occurring mineral that is in the form of orthorhombic crystalline. In sedimentary rocks, these minerals are found.
Mostly in the oil industry, this mineral can be used as a weighting agent for drilling muds. In addition, in the glass-making industry, rubber, and paper industry, barite is used.
Barite market drivers
Giving a boost to the global market of barite, its versatile properties and energy rising demand helps a lot. In the globe, the biggest sectors are oil and gas.
So the vast growth of barite in this sector is common for the drilling mud purpose. Petroleum-based products take the main place in the global economy because of the rising demand for oil and gas. By the end of 2019, 46,209 wells were drilled, increasing 2.5% for oil.
The excellent absorption capability of x-rays and gamma rays of barite helps it take the main part of the medical industry. This is the key factor of this versatile mineral.
For example, in the gastrointestinal tract, the ultrapure barite can be used in computed tomography examinations. Including rubber, paint, and ceramic filtration, the barium compounds are used.
Market restraints
Strontium sulfate and iron ore will be the substitutes for barite. To the global growth of the barite market, these are the threats.
Synthetic hematite, celestite, and iron are replacement elements of barite. As compared to barite, the cost of these substitutes is low. So in the future, a decrease in the growth of the barite market is expected.
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Opportunity for investment in Barite market
As one of the main exporters, the Indian government supports and appreciates the industry’s improvements using minerals such as iron ores and barytes.
In barite markets, the government helps the key players and supports them by providing incentives. Through this, the investors can grab the opportunities.
Barite market segment by color
The global segment of the brown barite market will provide a high opportunity for investment in the upcoming future.
It generated $806.4 million in revenue in 2018. Hopefully, the revenue in 2026 will be $1324.6 million as per a prediction. Along with vein filling, for petroleum well drilling, the consumption of brown barite is done.
Barite Market by deposit type
In 2018, $860.2 million was the registration revenue in the barite market of residual deposits. $1412.9 is the estimated residual revenue in 2026 and the residual segment will be most lucrative.
As compared to other residual types, residual barite can be easily available. Other mining types including vein mining are costly and intricate.
Barite Market by grade
In 2018, $645.1 million was the registration revenue in the barite market of 4.3 grade. This will grow up to $1043.8 by the end of 2026. Manufacturing of brake linings which is an automobile application, computer monitors, and soundproofing materials which is a widely used application of 4.3-grade barite.
Barite market by end-user industry:
According to the report of 2018, $564.5 million is the value of the gas and oil industry’s barite market. The projected value will increase up to $906.5 by the end of 2021. The key factors that can upsurge the growth of the barite market are the increasing global demand for oil and gas, and the increasing global demand for energy among all nations.
Guide to identify Barite
4.3 to 4.6 is the high specific gravity of barite that can help it for its uniqueness from other similar appearance gems. It will be repelled with an external applied magnetic field because it is diamagnetic.
Pleochroism
There is a weak displayed pleochroism in colored barite crystals.
● Brown crystals – wine yellow or violet or straw yellow
● Green crystal – pale green or colorless or violet
● Yellow crystal – yellow-brown or pale yellow or brown
Luminescence
In longwave ultraviolet light, it seems bluish, inert to cream, or greenish. The sources that may fluoresce under shortwave ultraviolet of colored barites are:
● blue-green (England and Germany)
● White (Ohio and Germany)
● Gray (Germany)
Fluoresce under long-wave ultraviolets of colored barites from these sources are:
● Yellow-green, greenish-white (Germany)
● Cream-white (South Dakota)
● Pinkish white (Ohio)
Conclusion
The above article contains the color, deposit type, grade, end-user industry, regional analysis, industry forecast, and global opportunity of barite. Significant barite in private collection concludes-
● A 42-ct golden-orange and cushion-cut gem
● A 108-ct dark brown and oval-cut gem
Synthetic Barites are used for mineralogical research, and these have no use in jewelry because of their fragileness. There is no treatment for this material. One can buy Barite for investment purposes, manufacturing glass and ceramic. It can be utilized as a filter.
