Barite Market: Increasing demands from paints, automobile, oil & Gas, plastics industries are the key drivers for Global Barite Market.
Barite is mineral composed of barium and sulfate in its pure form it is also known as Baryte. Few traces of strontium are also found in natural barite sometimes, it has a high density which makes it a suitable for commercial use in different industries. It has low solubility, high density, high brightness, softness, chemical inertness and softness with lesser cost. It is mainly used in the paints and plastics as filler, flux during manufacturing of glass. So, during the study of Global Barite market, we have considered Barite type and application to analyze the market.
Global Barite Market report is segmented on the basis of product type, grade type, end user type and by regional & country level. Based upon product type, global barite market is classified as residual, bedding, vein and cavity filling. Based upon Grade type, global Barite Market is classified as Up to Sp. Gr. 3.9, Sp. Gr. 4.0, Sp. Gr. 4.1, Sp. Gr. 4.2, Sp. Gr. 4.3 and Above. Based upon end users, global Barite Market is classified as Drilling Mud, Pharmaceuticals, Rubber and Plastics, Paints, Coatings, and Paper and Pulp.
The regions covered in this Barite Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Barite is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
The commercialization and growth of global Barite market over the past 25 years has been highly impactful. Due to the increasing demand from oil and gas industry, barite is used as weighting agent to decrease the formation of high pressure and blowouts. As, the petroleum industry is growing this in turn further increase the demand for barite market. There is an increased demand of LED television and screen and Barite is also used in the production of led glass this will also fuel the demand of barite over the forecast period. There is an constant increase in the automobile industry which is also a major factor driving the growth of barite market as it is used in the manufacturing of various automobile parts. In 2016, there were around 69 million cars sold in the U.S. All the above mentioned factors will drive the growth of barite market over the forecast period.
North America dominates the market with highest market share which is closely followed by Europe over the forecast period due to increase in oil and gas industry in these regions expected to fuel the growth of barite market. Furthermore, increasing automobile sector in these regions and major players of automobile sector belongs to these region will further support the growth of barite market. Asia Pacific is expected to be one of the fastest growing region over the forecast period due to the presence of developing economies such as India, China, Japan and others. These regions are way ahead in terms of technology and growing rapidly due to the industrialization and set up of new industries. Globalization is also one of the major factors behind the growth of these regions over the forecast period.
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA