Global Barite Market Will Be Worth of Us$ 1.84 Bn in 2023, Expanding at a Cagr of 5.8% Between 2015-2023

Transparency Market
Barite Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2023

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Use of Barite in Nuclear Industry Emerges as Growing Trend,
reports TMR
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Barite Market

Barite Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
The global barite market is moderately fragmented. The Andhra Pradesh Mineral Development Corporation
Ltd, China Shen Zhou Mining and Resources Inc, and Ashapura Group of Industries are the top three
companies, which accounted for 27.9% of the market in 2014. Other companies in the market include Mil-Spec
Industries Corporation, Anglo Pacific Minerals, Excalibar Minerals LLC, and International Earth Products LLC.
Most companies are focused on expanding their manufacturing capacities and establishing new business units
in the emerging markets of Asia Pacific, states a new report by Transparency Market Research (TMR).
Companies are also investing in new barite mining projects to expand their reserves and grow in the market.
The threat of new entrants is expected to be medium as there are low entry barriers for players owing to the
fragmented nature of the market. Securing mining rights from the government is the major hurdle for players.
There exists a significant threat of backward integration from oil field services company. The barite market also
faces medium threat from substitutes such as iron ore, itabirite, antimony sulphide, celestite, potash, dolomite,
and ilmenite.
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High Demand for Crude Oil Benefits Barite Market
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