Dublin, July 24, 2024 (GLOBE NEWSWIRE) -- The "India Barite Market Size, Share & Trends Analysis Report by Application (Oil & Gas, Chemicals, Fillers), and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
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.
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
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
Companies Featured
- 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
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $38.5 Million |
| Forecasted Market Value (USD) by 2030 | $63.7 Million |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | India |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. India Barite Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Distribution Channel Analysis
3.2.2. Raw Material Trends
3.2.3. Technological Overview
3.3. Regulatory Framework
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Increasing demand for oil and gas
3.4.3. Expansion in renewable energy sector
3.4.4. Increasing usage in paints and coatings
3.4.5. Market Restraint Analysis
3.4.5.1. Challenges related to fluctuating oil prices
3.4.6. Industry Challenges
3.4.7. Industry Opportunities
3.4.7.1. Emerging industrial applications
3.5. Industry Analysis Tools
3.5.1. Porter's Five Forces Analysis
3.5.2. Macro-environmental Analysis
Chapter 4. India Barite Market: Application Estimates & Trend Analysis
4.1. Application Movement Analysis & Market Share, 2023 & 2030
4.2. India Barite Market Estimates & Forecast, By Application, 2018 to 2030 (Kilotons) (USD Million)
4.3. Oil & Gas
4.4. Chemicals
4.5. Fillers
4.6. Others
Chapter 5. India Barite Market - Competitive Landscape
5.1. Recent Developments & Impact Analysis, By Key Market Participants
5.2. Company Categorization
5.3. Company Heat Map/Position Analysis, 2023
5.4. Strategy Mapping
5.4.1. Expansion
5.4.2. Mergers & Acquisition
5.4.3. Partnerships & Collaborations
5.4.4. New Product Launches
5.4.5. Research And Development
5.5. Company Profiles
5.5.1. Participant's overview
5.5.2. Financial performance
5.5.3. Product benchmarking
5.5.4. Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/10nzg7
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