Baryte mining includes mining of baryte products that are used as filler in paint and plastics, sound reduction in engine compartments, coat of automobile finishes for smoothness and corrosion resistance, friction products for automobiles and trucks, radiation-shielding cement, glass ceramics and medical applications.
Baryte Mining Global Market Size
The global baryte mining market was valued at $1.33 billion in 2017. Asia Pacific was the largest geographic region accounting for $0.5 billion or 37.76% of the global market. The USA was the largest country accounting for $0.25 billion or 19.09% of the global baryte mining market.
Baryte Mining Global Market Trend
Companies engaged in baryte mining industry are using autonomous vehicles and automated technologies to increase the productivity and reduce the labor cost. Autonomous machines have better fuel efficiency, productivity, vehicle durability, and overall machine performance than manually operated machines. For instance, Caterpillar developed semi-autonomous underground load haul dumper (LHD) at Newmont mine in Nevada to minimize labor cost.
The companies covered are Excalibar Minerals LLC, Andhra Pradesh Mineral Development Corporation (APMDC), CIMBAR Performance Minerals, Halliburton, and Anglo Pacific Minerals.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Baryte Mining Global Market Segmentation
The baryte mining market is segmented into Oil & Drilling; Paints & Coatings; Pharmaceuticals; Rubber & Plastics; Textiles; Adhesives; Others.
Oil & Drilling includes mining of barite products when crushed, it is added to mud to form barium mud, which is poured into oil wells during drilling.
Paints & Coatings includes mining of baryte products that are used as filler in paint and plastics, coat of automobile finishes for smoothness and corrosion resistance.
Pharmaceuticals includes mining of baryte products that are used in medical applications.
Rubber & Plastic includes mining of baryte products that are used in rubber and plastics.
Textilesincludes mining of baryte products that are used as a white pigment in textiles industries.
Adhesives includes mining of barite products that are used as special sealants and adhesives.
Other baryte mining includes Mining barite for purposes other than Oil Drilling, Paints & coatings, Pharmaceuticals, Rubber plastics, textiles and adhesives.