Global Barite Market is expected to grow at a CAGR between 4.2% and 4.7% over the Forecast period 2016 to 2022. 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.
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 2016 to 2022. 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.)
Excalibar Minerals LLC
International Earth Products LLC