Published By : 23 Sep 2016 | Published By : QYRESEARCH
Thanks to the increasing usage of barium as barium sulfate and barium aluminum alloy in a number of industries such as electronics, chemicals, medical, oil and gas, automotive, rubber, and paints, the demand for barite - the key source of barium - is witnessing a significant rise across the world. Among these, the medical and healthcare, the electronics, and the rubber industry are the key end users of barite.
The growing application of barite as white pigment in the paper, the paint, and the textile industries is likely to drive the worldwide barite market substantially in the coming years. Apart from this, the increasing usage of various kinds of barium compounds, such as barium hydroxide is also projected to boost the demand for barite over the next few years.
Demand for barite to Remain High in Oil and Gas Segment
Predominantly, barite finds a widespread application in chemicals, oil and gas, fillers, and radiation shielding. Among these, barite registers a high utilization in oil and gases. The segment accounted for a share of 80% in the overall consumption of barite in 2014. Analysts expect the demand for barite to remain high in the oil and gases industry.
Chemicals emerged the second largest application segment of barite in 2014. However, the segment is likely to report a moderate consumption of barite in the coming years.
Global Barite Market – Key Players
The global barite market demonstrates a moderately fragmented competitive landscape. In 2014, the top three players accounted for a share of 35% in this market. Some of the key participants in this market are Excalibar Minerals LLC, Mil-Spec Industries Corp., P&S Barite Mining Co. Ltd., Anglo Pacific Minerals, CIMBAR Performance Minerals, China Shen Zhou Mining and Resources Inc., The Andhra Pradesh Mineral Development Corp. Ltd., Oren Hydrocarbons Private Ltd., Milwhite Inc., International Earth Products LLC, and Ashapura Group of Industries.