Barite Specifications

Drilling fluids consume some 85% of the world's total barytes consumption, making them easily the largest market. The price of drilling grade barytes depends primarily on demand from the oil and gas exploration industry and on the price of oil. After 2003 an oil glut could force oil prices down and reduce barytes demand, but experience shows that many other factors, such as the severity of the northern hemisphere winter and political conflict in the producing countries, could change this picture. Environmental concerns in offshore drilling will also impact on future barytes prices, as quality demands become more stringent. Barytes that is co-produced during base metal mining and flotation may become increasingly difficult to market, and alternatively, metal-free material will be in greater demand. This should push barytes prices up. The USA is easily the largest barytes consumer, accounting for 40% of world demand in 2001, most of which is imported. China is the other major barytes consumer, accounting for 14% of world demand, although in this case demand is met from domestic production. Oil and natural gas are expected to increase their share of total energy requirements from 62% in 2000 to 67% in 2020, which will increase demand for drilling grade barytes in exploration and development.

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