Global barite market is expected to grow at a CAGR of 4.2% over the forecast period 2017 to 2023. Barite is widely used as a weighting agent, filler agent, and extenders. It is employed in oil & gas industry, rubber industry, plastics industry among others. It is also used in pharmaceutical applications such as production of barium meals for body tissue radiography. Barite is processed in various grades based upon specific gravity, with each grade used for various purposes. The global barite market is expected to be primarily driven by factors such as constant increase in oil and gas drilling activities, increasing demand in construction industry and increasing consumption in brakes, paint primer for metals and clutch pads.
Figure: Global Barite Market by Value
The barite market is segmented on the basis of grade analysis, application, and region. The segmentation on the basis of grade analysis covers up to Sp. Gr. 3.9, Gr. 4.0, Gr. 4.1, Gr. 4.2 and Gr. 4.3 and above. On the basis of application the market is segmented as drilling mud, pharmaceuticals, rubber & plastics, and others (including paints, coatings, paper and pulp).
Among the applications drilling mud is expected to be the largest market for barite market over the forecast period 2017 to 2023. Furthermore rubber paints, and plastics are together expected to grow at the highest CAGR over the forecast period.
The regions covered in the report include North America, Europe, Asia-Pacific, and Rest of the World. North America region covers the country markets such as U.S., and Canada. Furthermore Europe includes the country markets such as Germany, U.K., France, Spain, and Rest of Europe. The Asia-Pacific region covers the analysis of countries such as China, Japan, India, Australia/New Zealand, and Rest of APAC.
The companies covered in the report include, Andhra Pradesh Mineral Development Corporation Ltd, Ashapura Minechem Limited, Sojitz Corporation, Halliburton Company, Baker Hughes Incorporated, TETRA Chemicals (Tetra Technologies, Inc.), Schlumberger Limited, Excalibar Minerals LLC, International Earth Products LLC, Milwhite Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand globally as well as regionally. Moreover, IGR- growth matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider.
The report provides insights into the market using analytical tools such as porter’s five forces analysis and value chain analysis of barite market. Further, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the barite market that will impact the demand during the forecast period.
The IGR- growth matrix analysis provided in this report highlights key investing markets in the world. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market.
The report also provides in depth analysis of impact of reach policy (registration, evaluation and authorization of chemicals) adopted by the European Union on the global barite market over the period of 2017 to 2023. This section also provides crucial information on safety profiles of the chemicals in European Union.
The report also provides in depth analysis of regulatory framework pertaining to barite market. This will help the companies to understand the regulatory compliances, supports, barriers in the barite market. This section highlights key amendments and their implication on barite market in the short run as well as in the long run. This report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
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