According to the recent study the Barium Sulfate Market is projected to reach an estimated $2 billion by 2030 from $1 billion in 2023, at a CAGR of 4.4% from 2024 to 2030. Growth in this market is primarily driven by increasing drilling activity, rising crude oil prices, increasing penetration of barium sulfate in the pharmaceutical, and paint & coating industry.
Browse 111 figures/charts
and 96 tables in this 179-page report to understand trends, opportunities and
forecast in barium sulfate market by end use industry (glass, oil well
drilling, paint, chemical and others), product type (natural and precipitated),
deposit type (bedded, vein, and residual), and region (North America, Europe,
Asia Pacific, and the Rest of the World).
“Natural barium sulfate market is expected to remain the largest
segment during the forecast period.”
Based on product type,
the barium sulfate market is segmented into natural and precipitated. Lucintel
forecasts that the natural barium sulfate market is expected to remain the
largest segment due to increasing production of oil and gas.
“Within the barium sulfate market, the oil well drilling segment
is expected to remain the largest end use industry.”
Based on end use
industry the oil well drilling segment is expected to witness the highest
growth over the forecast period due to growth in unconventional oil and gas
extraction and rapid industrialization in emerging economies.
“North America will dominate the barium sulfate market in near
future.”
North America will
remain the largest region over the forecast period, as USA dominate the barium
sulfate consumption due to high oil well drilling activity and growth in
chemical industry will drive the demand for oil well drilling and chemical
industry in the North America region.
Major players of barium
sulfate market are adopting various growth strategies like new product
launches, expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Cimbar Performance
Minerals, Sakai Sakai Chemical Industry, Hebei Xinji Chemical Group, Hubei
Hoyonn Chemical Industry Co. Ltd., ShenzhouJiaxin Chemical, Hubei Talents
Minerals, Nippon Chemical Industrial, Excalibar Minerals, Solvay`, Onmillion
Nano Mater are among the major barium sulfate providers.
This unique research report will enable you
to make confident business decisions in this globally competitive marketplace. For
a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on
this link helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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