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Barite Market,Industry Analysis, Report, Trends, Forecast 2016 - 2024
The Barite Market growth is negatively influenced in the recent years due to stringent rules governments regulations which involves constant interference in the product manufacturing process.
In addition, stringent norms regarding mining operations across the globe may hamper the Global Barite Market size by 2024.
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Barite, chemical name BaSO4 (baryte), is a product containing mineral sulphate. The total barite reserve all over the globe is approximately 2 billion tons, though, only 730 million tons is considered for useful purposes.
The product in the cement industry used as radiation shielding mineral and the persistent growth of construction industry, due to heavy investment flowing to uplift infrastructure in countries all over the world, will be driving the global barite market size by 2024.
In addition, the product used in the other industries including electronics, glass and ceramic.
Asia Pacific was the major Barite Market share contributor in 2015. India and China are the prime product manufacturers which substantially contribute towards regional industry growth.
Another factor propelling the product demand in this region is increasing oil & gas consumption along with huge demand for paints and plastics from countries including China, India and Thailand.
Latin America is forecast to witness prominent gains over the estimated timeframe. Increased demand for paints & coatings due elevating construction industry in the region, which are on a surge in countries including Mexico and Brazil, will boost the regional barite market share by 2024.
Increase in production of consumer goods such as LED televisions and computers, particularly in China and Taiwan is likely to accelerate the product demand in Asia Pacific in the coming years.
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In case of North America, U.S led the regional barite market share in 2015. Prevalence of massive oil & gas industry in the region, creates ample opportunity towards industry growth in the near future.
The key players operating in the barite market share are CMS Industries, Shijiazhuang Oushun Mineral Products Company Limited, V&P Corporation, Shanghai Titanos Industry Company Limited, Halliburton Company, Mil-Spec Industries Corporation, P&S Barite Mining Company Limited, CIMBAR Performance Minerals, Excalibar Minerals LLC, Anglo Pacific Minerals, Kaomin Industries, Ashapura MineChem Limited, International Earth Products LLC and Desku Group Inc.
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