Global Barite Market Report 2023: Sector is Expected to Reach $2.13 Billion by 2030 at a CAGR of 5.1% - ResearchAndMarkets.com
The global barite market size is expected to reach USD 2.13 billion by 2030., expanding at a CAGR of 5.1% over the forecast period.
- The global barite market size is expected to reach USD 2.13 billion by 2030., expanding at a CAGR of 5.1% over the forecast period.
- The market is projected to be driven by the growing investments in the oil & gas sector and rising demand from industries, such as paints & coating, chemicals, cosmetics, plastics, cement, and rubber.
- The flourishing oil & gas industry directly fuels the demand for barite, which finds use as a weighting agent in drilling mud formulations.
- To meet the new rising demand, key players are focusing on R&D for innovations, technologies, and recognition.