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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