Global Barytes Market 2017-2021

This market research report identifies Andhra Pradesh Mineral Development Corp. (APMDC), GUIZHOU SABOMAN IMP. & EXP, Steinbock Minerals, Newpark Resources, and Pands Group Mining and Milling as the key vendors in the global barytes market. This report also presents a detailed analysis of the market by end-user (oil and gas drilling and chemicals) and by geography (the Americas, APAC, and EMEA).

Overview of the global barytes market

Technavio’s market research report predicts that the global barytes market will post a CAGR of above 4% during the forecast period. The increase in deep water drilling activities is one of the primary drivers for market growth. Brazil, Gulf of Mexico, and West Africa are likely to witness largest growth in the deepwater market backed by the rising deepwater hydrocarbon discoveries and the decreasing production from onshore and shallow water basins in these countries. These factors accelerate the demand for barytes in the oil and gas industry. Moreover, the improved manufacturing process and technological advancements have led to the rapid growth in the deepwater market. Furthermore, the rise in deepwater exploration activities in Petrobras (Brazil) and New Castle (UK) have also resulted in the rise in the need for barytes for drilling.

The expansion of mines will be one of the major trends that will gain traction in the global barytes market in the next few years. The recent years witnessed a number of mine and this trend is anticipated to continue during the forecast period. For instance, following the completion of a mining project in Nevada in 2016 to remove existing stockpiles and benches from an abandoned mine, the new grinding plant operations were started by a company located in Corpus Christi, Texas, US.

Competitive analysis and key vendors

The global barites market vendors is characterized by the presence of a considerable number of players and is competitive. Several market players will form joint ventures and partnerships over the next four years. Vendors are increasingly focusing on expanding their existing production capacities and are concentrating on constructing new production centers. Moreover, the global vendors will also start acquiring local players which will enable them to improve their global presence.

Key vendors in the market are:

• Andhra Pradesh Mineral Development Corp. (APMDC)
• GUIZHOU SABOMAN IMP. & EXP
• Steinbock Minerals
• Newpark Resources
• Pands Group Mining and Milling

Other prominent vendors include Broychim, Gimpex, Halliburton, OREN HYDROCARBONS, Provale Group, Rock Fin Minerals, and Trimex Industries.

Segmentation by end-user and analysis of the barytes market

• Oil and gas drilling
• Chemicals

During 2016, the oil and gas drilling segment dominated the barites market and is expected to continue its dominance over the next four years. The increased utilization of barytes for drilling bits, cutting to the surface, and lubrication and the prevention of blow-out during drilling, will propel the growth of this market segment.

Geographical segmentation and analysis of the barytes market

• Americas
• APAC
• EMEA

In terms of geography, EMEA led the barites market during 2016 and is anticipated to continue its dominion during the forecast period. The increase in exploration and production (E&P) activities in Europe due to a large number of mature oil and gas fields in the region will be the major factor fueling market growth.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global barytes market?
• What are the key market trends impacting the growth of the global barytes market?
• What are the challenges to market growth?
• Who are the key vendors in the global barytes market?
• What are the market opportunities and threats faced by the vendors in the global barytes market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global barytes market?

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