Barite Market to cross $4.1bn by 2024: Global Market

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News Desk 2018

Jul 17, 2017 at 7:00 AM 43

Barite Market to cross $4.1bn by 2024: Global Market Insights, Inc.

Ocean View, Delaware, July 17, 2017 (GLOBE NEWSWIRE) --

Global Barite Market is estimated to exceed USD 4.1 billion by 2024; according to a new research report by Global Market Insights, Inc. Rapidly growing oil & gas industry primarily in the U.S. owing to excess availability of shale reserves along with changing industry dynamics to increase dependency on alternative energy sources has pushed barite market size in the past few years. This is prospective to continue owing to strong need to meet energy demand in several industries including transportation, power, etc. which will subsequently generate ample growth avenues for barite market size by 2024.

In addition, positive growth indicators in the pharmaceuticals industry primarily in Asia Pacific will complement barite market size by 2024, owing to improving healthcare standards and rising geriatric population. This is due to widespread product applications in diagnosis and as fillers in plasters.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1328

Sturdy growth in paints & coatings industry owing to rapid industrialization and urbanization in Asia Pacific will propel barite market size by 2024. White & off-white barite is majorly used to prepare pigments in the paints industry. Rapidly growing construction industry primarily in China and India due to mounting population and improving socio-economic factors will be driving paints & coatings demand across end user business such as automobile.

Inadequate geographical barite occurrence along with high transportation cost may hinder barite market size by 2024. Furthermore, easy accessibility to existing alternatives including hematite, ilmenite, etc. which are also used as weighing agent in the energy sector is likely to hamper barite market size by 2024.

Browse key industry insights spread across 172 pages with 219 market data tables & 14 figures & charts from this 2017 report Barite Market in detail along with the table of contents at:

https://www.gminsights.com/industry-analysis/barite-market

Upto grade 3.9 barite market size is probable to attain CAGR over 3% by 2024. It is lower grade and is formed by 50/50 ratio of product and other alternative weighing material such as ilmenite and hematite. Grade 4.2 is projected to grow at a CAGR near to 4% by 2024, as it is widely used in the oil & drilling industry owing to its excellent rheological properties, which makes it desirable as a weighing agent. They are premium quality grades and are found beneath the earth surface. However, grade 4.2 is gradually being replaced by grade 4.1 in the oil & drilling industry as it possesses similar attributes and is cost effective compared to grade 4.2. This replacement is also due to increasing transportation issues related with grade 4.2.

Grey barite market size is estimated to attain CAGR of over 4% owing to its extensive application in oil & drilling industry by 2024. It helps in cooling the drill bit and subsequently suspend the rock bits by increasing the hydrostatic pressure which compensates for high-pressure zones experienced during drilling. White & off-white barite grades will experience average industry growth as it is used in paints & coating, cosmetics and rubber applications.

Rising population in the Asia Pacific along with progressive consumer lifestyles is driving automobile industry which in turn will propel rubber industry over the projected timespan. This tendency is expected to make noteworthy contribution to rubber & plastics segment of barite market size by 2024. Furthermore, rapid pace of oil & drilling industry due to the U.S. shale boom will also contribute towards the product market size by 2024. North America is likely to witness CAGR of over 4.5% over the projected time spell.

Key industry share contributors of barite market size are Spectrum Chemical Mfg. Corp., New Riverside Ochre, Halliburton, Excalibar Minerals, Ashapura Group of Industries, Barium & Chemicals, Inc and Deutsche Baryt Industries.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1328

Browse Related Reports:

Polymer Modified Bitumen (PMB) Market Size 2017–2024

Polymer Modified Bitumen (PMB) Market Size was estimated over USD 9.5 billion in 2016 and the industry will likely grow by a CAGR more than 4% up to 2024. Key players in the PMB market include Tiki Tar Industries, Ooms Avenhorn Holding India Pvt Ltd., AMT Techno, Offshore Petrochem Pvt Ltd., MBD Industries, Maruti Group, Veekay Industries, L N Petro Chem, Lagan Asphalt Group Ltd, IKA group, Gulf Petrochem, Marini S.P.A., Royal Dutch Shell, The Richmond Group, Bitumat Compan6y Limited, South Machinery, Allied Bitumen Complex, Space Petro Energy Pvt. Ltd. (SPEPL), Ratnamani Industries, and RoadStar to name a few.

https://www.gminsights.com/industry-analysis/...PMB-market

Sodium Hydrosulfite Market Size 2017–2024

Sodium Hydrosulfite Market size was estimated over USD 1 billion in 2016 and the industry will likely grow by a CAGR of about 4% up to 2024. The rising paper products demand in Asia Pacific will drive the global sodium hydrosulfite market growth till 2024 owing to its extensive application as a reductive bleaching agent for pulp in the paper manufacturing process. Guangdong ZhongCheng Chemicals Inc., AZ Chemicals, Inc., BASF SE, and Jinhe Group are the top players in the industry.

https://www.gminsights.com/industry-analysis/...ite-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde Corporate Sales, USA Global Market Insights, Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: sales@gminsights.com Web: https://www.gminsights.com Blog: https://www.gminsights.com/blogs Connect with us: Facebook | Google+ | LinkedIn | Twitter

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