Lucintel Forecasts Barium Sulfate Market to Reach $2.2 Billion by 2030

Barium Sulfate Market

Posted on 2024-01-24 by Lucintel in Management // 0 Comments

According to the recent study the Barium Sulfate Market is projected to reach an estimated $2.2 billion by 2030 from $1.6 billion in 2023, at a CAGR of 4.6% from 2023 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.

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