The Baryte Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Baryte Global Market Report 2024, The baryte market size has grown rapidly in recent years. It will grow from $2.3 billion in 2023 to $2.67 billion in 2024 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to oil and gas drilling industry expansion, construction and infrastructure development, chemical industry applications, paper and pulp industry utilization, renewable energy infrastructure projects.
The baryte market size is expected to see rapidly grown in the next few years. It will grow to $4.61 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to increasing demand in drilling fluids for oil and gas exploration, rise in demand for barium compounds in electronics, expansion of the plastic industry, infrastructure development in emerging markets, growing demand in the paint and coatings industry. Major trends in the forecast period include focus on sustainable mining practices, increasing use in geoengineering projects, advanced processing technologies, shift towards barium-free alternatives, increased collaboration in research and development.
The growth in the baryte market is due to an increase in sales in rapidly developing countries such as China and India owing to a rise in disposable income, and increased demand for, and availability of credit. Disposable income refers to the amount of money that an individual or household has to spend or save after income taxes have been deducted. The use of barite is progressively gaining importance in many industrial sectors. For instance, in 2021, according to the Bureau of Statistics of China, a China-based Government agency data, Disposable Personal Income in China increased to 47412 CNY 2021 from 43834 CNY in 2020. Therefore, the rising disposable income is driving the growth of the Baryte market.
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The baryte market covered in this report is segmented –
1) By Type: Oil & Drilling, Paints and Coatings, Pharmaceuticals, Rubber & Plastics, Textiles, Baryte-Adhesives, and Other Types- Baryte
2) By Mining Type: Underground Mining, Surface Mining
Top Major Players
Excalibar Minerals LLC
Andhra Pradesh Mineral Development Corporatio
CIMBAR Performance Minerals
Halliburton Company
Anglo Pacific Minerals
Companies engaged in the bentonite industry are using advanced geosynthetic clay liners to prevent leakage and corrosion in mining operations, which is one of the major trends witnessed in the global bentonite market.
The baryte market report table of contents includes:
1. Executive Summary
2. Baryte Market Characteristics
3. Baryte Product/Service Analysis -Product/Service Examples
4. Baryte Market Trends And Strategies
5. Baryte Market – Macro Economic Scenario
……………………
68. Global Baryte Market Competitive Benchmarking
69. Global Baryte Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Baryte Market
71. Baryte Market Future Outlook and Potential Analysis
72. Appendix
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