Barite Market Forecast for the Next Five Years

The main component of barite is barium sulfate with high purity, fine particle size and uniform distribution, chemical inertness,acid resistance, high temperature resistance, corrosion resistance, high whiteness, high refractive index, easy dispersion, and strong radiation absorption. Features. Barite is an important mineral resource. It is mainly used in the drilling industry (drilling rigs). As an organic pigment, it is also widely used in various advanced coatings, paints, inks, and other industries. At the same time, it is also used as a filler in plastics, rubber, Ceramics and friction materials and other fields. In addition, barium sulphate is used for drainage pipes, sound boxes, and stereos, which can effectively isolate noise and noise; for home appliances, the housing can provide high gloss, good hue, scratch resistance, and good dimensional stability.

The world's major barite production areas are China and India. In 2016, China produced 2.7711 million tons of barite, and India produced 1.1616 million tons. China and India are the two major exporters. At the same time, the United States is the main importing region. In 2016, the United States consumed 1.403 million tons, generating only 426,600 tons. Between 2012 and 2016, consumption in the United States dropped from 3,4330,000 tons in 2012 to 1,405,300 tons in 2016, which has a great impact on global consumption.

In the past few years, the price of barite rose from 69 dollars per ton in 2012 to 74 dollars per ton in 2013. Since 2014, barite prices have continued to rise. At present, the average price of barite is about US$77/ton. According to industry forecasts, global barite consumption will reach 6.338 million tons by 2023, and the average price will increase to 86 US dollars/ton.

China is the world’s largest exporter of barite, mostly exported in the form of ore and barium salt products. The main targets are the United States, Saudi Arabia, and the Netherlands. Domestic consumption is mainly used for oil and gas exploration. Chinese barite has high quality and adequate reserve resources, which is our advantage. With the development of the global economy, the current development of the barite market is not stable, but in the long run, the demand for oil and natural gas will continue to rise. At the same time, the related chemical industry market in barium will gradually recover.