Thursday, 3 March 2016

High Demand for Barite in Drilling Industry Boosts Global Barite Market to US$1.84 Billion by 2023

Barite is a mineral composed of barium sulfate. It is usually colorless or milky white. It can also be found in different shades of blue, green, or yellow. Barite manifests itself as concretion in sedimentary rocks and has a high specific gravity of 4.50 g/cm3. It is used in broad applications in various industries, ranging from oil and gas to chemicals. In terms of demand, oil and gas accounts for major share of the barite market.

This study analyzes, estimates, and forecasts the global barite market in terms of volume (Kilo Tons) and revenue (US$ Mn) from 2014 to 2023. Market numbers given in the report describe the global demand for barite, but not the production and supply. The barite report also analyzes several driving and restraining factors and their impact on the market during the forecast period.

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The report provides a detailed analysis of the barite market by key applications. It segments the market into key applications including oil and gas, chemicals, and others (fillers and radiation shielding). The report also segments the market based on major geographies including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. It further provides the volume and revenue for each application segment for each region.

Based on the application segment, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain from raw material manufacturers to end-users. Additionally, the study analyzes market competition using Porter’s Five Forces analysis.
The report includes an overview of market share of key companies operating in the global barite market. Market share of companies has been derived based on production by manufacturers of barite. Key market participants profiled in the study include The Andhra Pradesh Mineral Development Corporation Ltd (APMDC Ltd) Ashapura Group of Industries, Anglo Pacific Minerals, China Shenzhou Mining and Resources Inc, Excalibar Minerals LLC, International Earth Products, Mil-Spec Industries Corporation, Milwhite Inc., Oren Hydrocarbons Private Limited, P&S Barite Mining Co., Ltd., and CIMBAR Performance Minerals. Profiles of key participants comprise important parameters such as company overview, financial overview, business strategy, and recent developments.

Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis, and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
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