Baryte is a natural mineral is composed of 34.3% barium sulfate
and 65.7% barium oxide in its pure form. Baryte is an industrial mineral with
key properties of low solubility, high density, high brightness &
whiteness, softness, chemical inertness, and less cost. It is used for raising
the hydrostatic pressure to counteract the high-pressure zones throughout the drilling
activities. Baryte is also known as ‘desert roses’ owing to the red-stained
flower-like appearance. It is mined from
layers of sedimentary rock and used for the filler in paints & plastics,
coats of automobile finishes for smoothness & corrosion resistance, sound
reduction in engine compartments, friction products for automobiles &
trucks, glass ceramics, radiation-shielding cement and medical applications.
According to study, “Baryte Mining Global Market Report 2019”
the key companies operating over the global barite mining market are Excalibar
Minerals LLC, CIMBAR Performance Minerals, Andhra Pradesh Mineral Development
Corporation (APMDC), Anglo Pacific Minerals, Halliburton, Ashapura Group,
Halliburton Co., Kaomin Industries, International Earth Products LLC, Mil-Spec
Industries Corp., Seaforth Mineral & Ore Co. Inc., Milwhite Inc. The companies
operating in Baryte production have implemented the use of heavy investment to
improve their plant facilities for enhancing production capacity and securing
the position in market.
Based on deposit type, global barite mining market is
segmented into residual, vein, bedding, cavity filling. Based on grade, market
is segmented into up grading 3.9, grade 4.0, grade 4.1, grade 4.2, grade 4.3
and grade above 4.3. Based on color, market is segmented into white &
off-white, brown, grey and others. Moreover, based on the end-user industry,
market is segmented into oil & drilling, pharmaceuticals, paints &
coatings, textiles, rubber & plastics, adhesives and others.
The baryte mining market is driven by increase in demand in
construction industry due to rise in surge for paints, followed by increase in demand
from the automotive industry. In addition, rise in disposable income and increase
in production of electronics such as computers, televisions, and LED panels are
further expected to support the market growth. However, increase in interest
rate, implementation of stringent regulations concerning the usage of toxic
metals for instance mercury, arsenic, cadmium, lead and workforce issues &
safety are some of the major restraint impacting the market. Increase in use of
autonomous vehicles & automated technologies for increase over the
productivity & reduction in the labor cost to remain the major trend of the
market.
Based on geography, the Middle East region holds major share
in the baryte mining market owing to robust growth of rubber, paints &
coatings, plastics, and paper industries in the region. The North-American
region is expected to witness high growth rate due to rise in exploration &
production activities in the oil & gas industry. Asian-Pacific region is expected
to lead the market due to rapid development in the industrial sector across
India & China. The improved earning capacity, increase in positive economic
outlook, emerging markets growth, scope or substantial demand for the baryte is
anticipated to support the market growth during the forecast period.
For more information on the research
report, refer to below link:-
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Ken Research
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Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
