Press release
Barite Market to surpass $4.1bn by 2024 | Halliburton, Sibelco Group, Spectrum Chemical Mfg. Corp., Cimbar Performance Minerals, Inc., Excalibar Minerals, LLC, Anglo Pacific Minerals
Barite Market
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Sturdy growth in paints & coatings industry owing to rapid industrialization and urbanization in Asia Pacific will propel barite market size by 2024. White & off-white barite is majorly used to prepare pigments in the paints industry. Rapidly growing construction industry primarily in China and India due to mounting population and improving socio-economic factors will be driving paints & coatings demand across end user business such as automobile.
Inadequate geographical barite occurrence along with high transportation cost may hinder barite market size by 2024. Furthermore, easy accessibility to existing alternatives including hematite, ilmenite, etc. which are also used as weighing agent in the energy sector is likely to hamper barite market size by 2024.
Barite market by application
o Oil & drilling
o Paints & coatings
o Pharmaceuticals
o Rubber & plastics
o Textiles
o Adhesives
o Others
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Upto grade 3.9 barite market size is probable to attain CAGR over 3% by 2024. It is lower grade and is formed by 50/50 ratio of product and other alternative weighing material such as ilmenite and hematite. Grade 4.2 is projected to grow at a CAGR near to 4% by 2024, as it is widely used in the oil & drilling industry owing to its excellent rheological properties, which makes it desirable as a weighing agent. They are premium quality grades and are found beneath the earth surface. However, grade 4.2 is gradually being replaced by grade 4.1 in the oil & drilling industry as it possesses similar attributes and is cost effective compared to grade 4.2. This replacement is also due to increasing transportation issues related with grade 4.2.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Spectrum Chemical Mfg. Corp.
2. Deutsche Baryt Industrie
3. Halliburton
4. New Riverside Ochre Co
5. Albar Industrial Minerals Ltd.
6. Excalibar Minerals, LLC
7. Anglo Pacific Minerals
8. Sibelco Group
9. Ashapura Group Of Industries
10. BARIUM & CHEMICALS INC.
11. Cimbar Performance Minerals, Inc.
12. Milwhite, Inc.
13. Mil-Spec Industries Corp.
14. International Earth Products LLC
Browse key industry insights spread across 172 pages with 219 market data tables & 14 figures & charts from the report, “Barite Market” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/barite-market
Rising population in the Asia Pacific along with progressive consumer lifestyles is driving automobile industry which in turn will propel rubber industry over the projected timespan. This tendency is expected to make noteworthy contribution to rubber & plastics segment of barite market size by 2024. Furthermore, rapid pace of oil & drilling industry due to the U.S. shale boom will also contribute towards the product market size by 2024. North America is likely to witness CAGR of over 4.5% over the projected time spell.
Key industry share contributors of barite market size are Spectrum Chemical Mfg. Corp., New Riverside Ochre, Halliburton, Excalibar Minerals, Ashapura Group of Industries, Barium & Chemicals, Inc and Deutsche Baryt Industries.
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