Global Barite Market was valued at USD 1.4 Billion in 2019 and expected to grow with a CAGR 7.3% during forecasting years. Barite is a mineral consist of celestine, Barium Sulfate (BaSO4) and anhydrite (calcium sulfate) generally barite found in yellow, white, brown, blue or even colorless. Barite arises in many depositional environmental (both metallic and nonmetallic) and is collected from many processes comprises with hydrothermal, biogenic and evaporation. This mineral uses in oxygen and sulfur isotopic analysis, Oil and gas drilling other uses. Barite has been founded in Brazil, Nigeria, Australia, Canada, China, India, Pakistan, Germany. Increasing production of Oil and gas drilling and barium carbonate is the key driver to grow the market during forecasting years. Barium carbonate is used for manufacturing of LED glass as widespread usage of LED glass for manufacturing television, Computer screen and other. Further, increasing demand in U.S. for shale oil drilling operation which increasing in investment by major companies. Additionally, as per IAEE (International Association for Energy Economics) U.S. shale oil production is increase from about 1 mbd in 2012 to2 mbd in 2020 before it plateaus at 3 mbd by 2025. Despite that, substitution of barite for other minerals restrain Barite Market growth during forecasting years.
The regional analysis of the Barite Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. In which, APAC dominating the Global Barite Market, as increasing Energy demand in the region which increase the exploration activity and likely surge demand for paint and coating in the region However, North America has largest market share of Global Barite Market as increasing investment on mineral exploration activities which plays key role in the growth of Barite Market.
Key Players in Global Barite Market
Demeter O&G Supplies Sn Bhd
Kia Energy Company Ltd.
Nhat Huy Group
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of LA
Rest of the World
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