Barium, a chemically inert and dense mineral, is used in a number of end-use industries. However, it may not be wrong to say that one of the most important use of Barium is noted in the development and even exploration of natural gas and petroleum resources.
And, this makes it important to note here the exploration activities that marking the period as of now. So, for starters, market experts from Transparency Market Research state that, “About 50 leases have been carried out in 2019, making it the third very successful year for exploration activity. It is also quite interesting to note that not only are certain areas identified as hotbeds of exploration, they are also highly productive.” Some of these are the Mediterranean region, Africa, and Latin America.
In terms of BOE (Barrels of Oil Equivalent), the new regions show a performance of 26 discoveries - 100 BOE, out of the 12.2 billion barrels BOE discovered in 2019. This shows how conventional discoveries are moving on a high trajectory.
The study report on the global barite market, prepared by Transparency Market Research states that the market would chart a decent CAGR (Compound Annual Growth Rate) of 4.8 percent – in the period 2018-2026
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Consolidated Vendor Landscape to Mark Global Barite Market over the Forecast Period
The competitive landscape of the global barite market is consolidated and the trend will continue over the forecast period. Apart from improving the product quality, players are looking to work with different grades in order to widen the scope of applications.
Some of the players that are seen as high performers in the global barite market include Spectrum Chemical Manufacturing Corporation, Deutsche Baryt Industrie, Halliburton, CIMBAR Performance Minerals, New Riverside Ochre Company, Inc., Excalibar Minerals LLC, and Anglo Pacific Minerals, among others.
It is pertinent to note here that the top tier players that are operating in the global barite market landscape have a hold on about 55% of the total market share. It is also important to note that these players are scurrying to improve plant facilities for bettering capacity in terms of production.
North America to Show Stellar Performance over the Forecast Period
Dominating the regional landscape of the global barite market, North America will ride to growth on the back of strong presence of key market players and numerous end-use industries in its landscape. And, it is worth noting here that mud drilling constitutes a significant share of the total contribution by other applications. Additionally, it is also witnessing use of barite in the oil and gas industry. However, market expert’s note, “Oil and gas segment in the region will lose to rubber and plastics over the period to come.”
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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the barite market include The Andhra Pradesh Mineral Development Corporation Ltd., Ashapura Group, Anglo Pacific Minerals Ltd., Schlumberger Limited, Sojitz Corporation, PANDS GROUP, The Kish Company, Inc, ALCOR MINERALS, PVS Global Trade Pvt Ltd, Pulapathuri and J & H Minerals Pvt.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Barite Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/barite-market/download-sampleMarket DynamicsThe market is mainly driven by rising oil and gas drilling activities worldwide.
In addition, the rise in the application of barite as a weighting agent in oil well drilling fluids to counteract specific pressure that results from well drilling operations significantly contributes toward the growth of the market.
Furthermore, expansion in offshore and gas drilling activities and rising investment by major oil companies in deep and ultra-deep offshore exploration are likely to further augment the market growth over the forecast period.
Moreover, rapid industrialization and urbanization in the developing region have surged the consumption of paints and coatings in end-use industries.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
Barite Market: IntroductionTransparency Market Research delivers key insights on the global barite market.
In terms of revenue, the global barite market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global barite market.The global barite market is broadly affected by several factors, including usage of barite in various applications such as drilling mud, pharmaceuticals, rubber & plastics, and others.
Foreign investments in the oil & gas sector have increased across the globe; as a result, production of oil and gas has increased significantly.
It is used as a pigment in paints, while it is employed as a weighted filler in paper, textile, and rubber industries.
This has led to a rise in the demand for barite.Barite is increasingly used in the construction industry, specifically for the manufacture of reactors.
Barite is added to concrete aggregates during the construction of an atomic reactor, owing to its ability to absorb gamma radiations.
Barium, a chemically inert and dense mineral, is used in a number of end-use industries.
However, it may not be wrong to say that one of the most important use of Barium is noted in the development and even exploration of natural gas and petroleum resources.And, this makes it important to note here the exploration activities that marking the period as of now.
So, for starters, market experts from Transparency Market Research state that, “About 50 leases have been carried out in 2019, making it the third very successful year for exploration activity.
It is also quite interesting to note that not only are certain areas identified as hotbeds of exploration, they are also highly productive.” Some of these are the Mediterranean region, Africa, and Latin America.In terms of BOE (Barrels of Oil Equivalent), the new regions show a performance of 26 discoveries - 100 BOE, out of the 12.2 billion barrels BOE discovered in 2019.
This shows how conventional discoveries are moving on a high trajectory.The study report on the global barite market, prepared by Transparency Market Research states that the market would chart a decent CAGR (Compound Annual Growth Rate) of 4.8 percent – in the period 2018-2026 Request a Sample - https://www.transparencymarketresearch.com/sample/sample.php?flag=S_id=2404Consolidated Vendor Landscape to Mark Global Barite Market over the Forecast PeriodThe competitive landscape of the global barite market is consolidated and the trend will continue over the forecast period.
Apart from improving the product quality, players are looking to work with different grades in order to widen the scope of applications.Some of the players that are seen as high performers in the global barite market include Spectrum Chemical Manufacturing Corporation, Deutsche Baryt Industrie, Halliburton, CIMBAR Performance Minerals, New Riverside Ochre Company, Inc., Excalibar Minerals LLC, and Anglo Pacific Minerals, among others.It is pertinent to note here that the top tier players that are operating in the global barite market landscape have a hold on about 55% of the total market share.
