Barite Market
REPORT DESCRIPTION
Barite Market( Grade- Up to Sp. Gr. 3.9, Sp. Gr. 4.0, Sp. Gr. 4.1, Sp. Gr. 4.2, and Sp. Gr. 4.3 and Above; End User- Drilling Mud, Pharmaceuticals, Rubber and Plastics, Paints, Coatings, and Paper and Pulp)- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016- 2024
Of late, the global barite market has been experiencing an intense competition between the leading companies, namely, APMDC, China Shen Zhou Mining and Resources Inc., Halliburton Co., Excalibar Minerals LLC, and Ashapura Minechem Ltd., finds a report by Transparency Market Research( TMR). The market has been demonstrating a highly fragmented structure, with these companies holding only 31.1 % share of the overall market in 2015.
Currently, the leading vendors of barite across the world are making strategic alliances to increase their market share. Analysts at TMR expect these firms to increase investments in novel barite-mining projects in order to expand their reserves over the next few years.
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The report estimates the opportunity in the global market for barite, which was worth US $ 1.29 bn in 2015, to progress at a CAGR of 4.10 % during the period from 2016 to 2024 and reach a value of US $ 1.85 bn by the end of the forecast period. In terms of volume, the market is likely to cross 11,645.7 kilo tons by 2024. Accounting for a share of more than 70 %, drilling mud emerged as the key application segment of this market in 2015. Researchers expect the scenario to remain so over the period of forecast.
North America to Retain its Position in Global Barite Market The report also offers a geographical analysis of the global market for barite. As per the study, the Middle East and Africa, Latin America, Asia Pacific, Europe, and North America are considered as the
Transparency Market Research
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