Barite, commonly known as heavy spar, is a mineral with the chemical formula BaSO4 that occurs in white, yellow, or colorless tabular crystals. According to BlueQuark Research & Consulting, the global Barite market is expected to witness a significant growth rate during the forecasted period. Barite is in demand by the oil and gas industries as a weighing agent in the drilling of the mud that prevents explosive releases of oil and gas because it possesses exceptional physical and chemical properties like high specific gravity, inertness, low solubility, and magnetic neutrality is estimated to drive the global Barite market. Further, the Paint and Coatings industry uses Barite as an alternative to expensive fillers like Basofor, Crypton, Titanium dioxide, and Monox because it regulates the thickness of paints and increases their stability, as well as imparting more brightness to the color and its high resistance to acids, alkalis, and high bulk density, which makes it all the more useful is expected to drive the global Barite market. Furthermore, Barite is the most common ore of barium, and the chemical industry uses it to make chemicals that are used by a variety of other sectors, such as barium carbonate for the leather industry, barium oxide for glaze and ceramic polishing, and barium hydroxide for the purification and preparation of molasses from sugar is projected to drive the global Barite market. However, the global Barite market is expected to be hampered by the availability of close alternatives such as celestite and iron ore, inhalation of high dust concentrations cause mechanical irritation and pain of the respiratory system, and stringent regulatory requirements.

Barite has a gentle and mild effect on the skin, making it a popular choice for manufacturing cosmetics, used for plastics as it improves abrasive strength, stiffness, and intensity, making them stronger and more attractive. The automobile industry uses it for sound-deadening materials, brake linings, and barites powders are added to improve the whiteness of the paper and also increase the percentage of coverage to give a pure white look.

The oil and gas industry is the vital consumer of Barite and is expected to drive the global Barite market. Barite's use for drilling the mud is due to its high specific gravity, the simplicity of its use during working, neutrality in terms of chemical composition, and the mineral's softness, protecting it from harming drilling instruments and allowing it to act as a lubricant, the demand for Barite is bound to rise. This is primarily because, in deep drilling for oil and gas using a rotary method in regions where the pressure of gas or liquid is low, a heavy product is necessary for catheterization, limiting the removal of materials and controlling the pressure. According to Halliburton, an offshore drilling business, its drilling and evaluation revenue in the third quarter of 2021 was USD 1.7 billion, up USD 65 million, or 4%, from the second quarter, while operating income was USD 186 million, up USD 11 million, or 6%, from the second quarter. In addition to this, Barite is critical for drilling still, it is a small percentage of any drilling project's total cost, which includes all stages from the initiation of a well's drilling to its completion, signifying its suitability in terms of price.

Some of the market's key players are Anglo Pacific Minerals Ltd., Pands Group, Milwhite Inc., International Earth Products LLC, Newpark Resources Inc., Cimbar Performance Minerals, and Schlumberger Limited, among others.

The United States is a considerable Barite producer, typically the world's largest consumer, and a significant trading partner for most of the world's top Barite producers. However, in 2020, several of its domestic Barite mining and processing facilities were shut down, with only one business mining Barite in Nevada. The majority of Nevada crude Barite was sold to companies drilling in the Central and Western United States. Most offshore drilling in the Gulf of Mexico and onshore drilling operations in other regions relied significantly on imported barite due to the higher cost of rail and truck transportation than the ocean freight. The United States' import of Barite from India accounted for 19.41% of the share, whereas the Middle East region acquired more than 50%. Furthermore, the Middle East accounts for 31.3% of the world's oil output, with 27.7 million barrels per day. The region holds the majority of OPEC's oil reserves, which amounted to 113.2 billion metric tons in 2020. Due to the factors discussed above, the Middle East and Africa region is projected to surpass the United States and dominate the global market.

In April 2021, CIMBAR Performance Minerals, a major supplier of barium sulfate, talc, alumina trihydrate (ATH), magnesium hydroxide, and post-consumer mineral-based fillers, expanded its business in Corpus Christi, Texas.

In October 2021, the Federal Government of Nigeria launched the made-in-Nigeria Barite, saying it would save the country the foreign exchange spent on the importation of the product.

Global Barite Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Barite by segmenting based on the Form (Lumps, Powder), Deposit type (Vein, Residual, Bedded, Cavity Fillings), Grade (Up to Grade 3.9, Grade 4.0, Grade 4.1, Grade 4.2, Grade 4.3, above 4.3), End-User Industry (Oil and Gas, Paints and Coatings, Chemicals, Pharmaceuticals, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.