Barite Market Report Outlook, Industry Analysis, Growth Trends, Extensive Profiles, Competitive Assessment and Forecasted Revenues 2018 – 2022
Sep 18, 2018
Global Barite Market Information - by Grade (Sp. Gr. 3.9, Gr. 4.0, Gr. 4.1, Gr. 4.2, Gr. 4.3 & above), by Application (Paints, Automobiles, Oil & Gas, Textiles, Pharmaceutical, Electrical Appliances and others) and Region – Forecast to 2022
Pune, India - September 18, 2018 /MarketersMedia/ —
Industry/ Innovation/ Related News:
March 2, 2015- CIMBAR PERFORMANCE MINERALS, completed the expansion of its site in Westville with an investment of USD 2 million. This resulted in its increased annual production capacity to 3,25,000 tonnes and strengthened its position in the market.
July 14, 2014- Haliiburton announced the completion of its barite processing plant in Dunphy, Nevada. The new plant is spread across 75 acres and will expanded the mining area to 908 acres. The plant consists of two 85-inch Williams Crusher Mill Systems, which are capable of producing 50 tons of material per hour. Additionally, there is an innovative, automated packaging system capable of packaging approximately 800 tons of bagged material daily. Thus, the company is focussed on innovative solutions to be the leader in the market.
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Barite Market – Market Overview
Barite is a mineral and the main source of barium. The barite group consists of four members- Anglesite a lead sulfate, Barite a barium sulfate, Celestite a strontium sulfate and Hashemite a barium chromate sulfate. It occurs in various forms such as blade, prismatic, lamellar, fibrous, and tabular crystals. It can be colourless, yellow, red, blue, green, brown or black depending on the included mineral content. The primary countries in which commercial deposits of barite are currently found are the US, China, India and Morocco.
The Global Barite Market is primarily driven due to the high demand from oil & gas industry. It is extensively used as a weighting agent as it prevents blowouts and suppress high pressure formation. The market is also driven by its use in production of sodium hydroxide, which is further use in refining of sugar as well as a white pigment in paints, paper, and textiles industries. The increasing demand for barite in automotive industry for manufacturing of brakes and clutch pads is another factor driving the market growth. The high production and sales of automobile across the globe due to the changing lifestyle and high disposable income of consumers is expected to fuel the market growth during the forecast period. Additionally, barite is used in barium carbonate production, which is used for manufacturing LED glass, thereby, driving the market growth.
Regionally, the market in Asia-Pacific is the largest contributor to the barite market due to the high demand for oil, gas, paints, and textiles in emerging countries such as China, India, South Korea, Taiwan, and Thailand.
Barite Market- Competitive Landscape
The Global Barite Market is witnessing rapid growth due to the increasing oil & gas exploration activities around the world. DESKU GROUP INC., Halliburton, Newpark Resources Inc, P.& S. Barite Mining Co., Ltd., Ashapura Group, Anglo Pacific Minerals Ltd., CIMBAR PERFORMANCE MINERALS, Kaomin Industries, and Mil-Spec Industries Corporation are some of the leading players in this market. Most of these market participants are adopting the acquisition, collaboration tactics and launching new products in order to strengthen their market position and meet the growing demand. Growing demand from oil & gas and medical industries across the globe coupled with the continuous collaborations and agreements between manufacturers, distributers, and marketing firms are key factors for the growth of barite in the global market. Considering these trends, the global barite market is set to witness considerable competition over the forecast period of 2017-2023.
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