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
The global barite market is predicted to bear witness to the establishment of new markets and elaboration of the production volume of current plants in regions that are not yet exploited . Holding a moderately fragmented character , the world market is anticipated to be domineered by large and medium sized companies involved in barite mining . Some of the top-tier companies making their presence known in the market are Excalibar Minerals LLC , China Shen Zhou Mining and Resources Inc ., Ashapura Group of Industries , and Andhra Pradesh Mineral Development Corporation . CIMBAR Performance Minerals has taken to the manufacture of highly user-friendly and distinctive products to gain an edge over its competitors .
According to a reliable study by Transparency Market Research ( TMR ), the international barite market is forecasted to reach a revenue valuation of US $ 1.8 bn by 2024 from US $ 1.2 bn in 2016 . Since barite finds a vital usage in controlling the volatile flow of oil and gas when released from the ground , the oil and gas application segment is expected to rise from US $ 1.0 bn in 2016 to US $ 1.5 bn by the end of 2024 . Foreseen to be a larger consumer of barite , North America could secure more than 42.0 % share in the global market by 2024 .
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Usage as Weighting Agent in Oil and Gas Leads Barite Demand The boom in the worldwide barite market is intimately associated with the rise in oil and gas applications , especially in the emerging region of Asia Pacific and the Middle East countries . Barite is employed during drilling activities to countervail high-pressure environments by helping the drilling mud to hike up its hydrostatic pressure . The demand for barite is more in oil and gas explorations as it forms
Transparency Market Research
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