Ultra-low Alpha Metals Market 2016 Share, Trend, Segmentation and Forecast to 2024

Transparency Market Research states that the global ultra-low alpha (ULA) metal market is facing moderate competition. The leading players operating in the global market are Honeywell International Inc., Indium Corporation, Pure Technologies, and DUKSAN Hi-Metal Co., Ltd. Wide product portfolio of these companies has helped them gain an edge over the others in the coming years. The booming aviation and automotive industries are expected to offer players in the global market ample opportunities to grow in the coming years. Thus, several players are steering the development of their products to suit the requirements of these industries.

According to the research report, the global ultra-low alpha metal market is expected to be worth US$4.72 mn by the end of 2024 from US$2.53 in 2015. Between the forecast years of 2016 and 2024, the global market is expected to surge at a CAGR of 7.30%.

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Asia Pacific Leads the Pack with Flourishing Electrical and Electronics Industry

In terms of geography, the global ultra-low alpha metal market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of all these regions, Asia Pacific is expected to lead the global market as it is poised to acquire a share of 63.81% by 2024. The phenomenal contribution of Asia Pacific to the soaring revenue of the global ultra-low alpha metal market will be due to its flourishing electrical and electronics industry. The usage of lead-free alloys is expected to drive the demand for ultra-low alpha tin in Asia Pacific throughout the forecast period.

The products available in the global market are ULA tin, ULA tin alloys, ULA lead alloys, and ULA lead-free alloys. The report indicates that ULA lead-free alloys segment held a dominant share in the global market in 2015 due to its widening applications. By the end of 2024, this segment is expected to acquire a share of 41.8% in the overall market, which will be larger than the rest. The demand for ULA lead-free alloys is expected to grow against the backdrop of restrictions pertaining to the usage of heavy meals in electronic products.

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Preference for Safer Alloys Augments Demand for ULA Metals

The stern rules such as Restriction on Hazardous Substances (RoHS) Directive that are dissuading the usage of hazardous substances in several electric and electronic equipment has augmented the demand for the ultra-low alpha metal in recent years. The European Union was the first region to accept this directive in 2003, while the world followed suit with a few changes in a few countries. Such directives have coaxed electronic equipment manufacturers to reduce the usage of hazardous materials and replace it with ultra-low alpha metals. Subsequently, it has augmented the demand for alternate alloys that contain lead for the purpose of soldering. Several alloys with silver are also being preferred for soldering despite their expensive pricing as they offer improved process results.

Fluctuating Prices of Raw Materials to Hamper Sales

The fluctuating prices of raw materials that eventually impact the cost of alloys is expected to hamper the growth of the market. Furthermore, the volatile situation of supply and demand is also expected to restrain the market from achieving its true potential. The demand for the ultra-low alpha metal is determined by exceptionally specific demands of consumers. Therefore, the changing patterns of consumer demands are expected to have a direct impact on the global market.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Carbon Black Market 2013 Share, Trend, Segmentation and Forecast to 2019

Carbon black is a finely divided black colored powder produced by thermal decomposition or incomplete combustion of hydrocarbons such as natural gas, coal gas and petroleum oil. It is produced as black-colored colloidal particles through processes such as furnace black process, channel process and acetylene process. Carbon black is primarily used as a dyeing agent in the textile industry.

This report comprises in-depth analysis and forecast of the carbon black market for textile fibers on a global as well as regional level. It includes forecast for the period from 2013 to 2019 in terms of volume (kilo tons) and revenue (USD million) for the regional and global markets. The study also analyzes various factors driving and restraining the growth of the carbon black market for textile fibers. A detailed analysis of the impact of these drivers and restraints on the growth of the market during the forecast period has been included. Furthermore, the report analyzes the opportunities available in the market during the forecast period at the global and regional level.

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The report includes a value chain analysis to understand the industry. The value chain analysis comprises detailed evaluation of the roles of various players involved in the carbon black market for textile fibers, from raw material suppliers to end-users. Porter’s Five Forces model has been used to determine the degree of competition in the industry during the forecast period. Furthermore, a market attractiveness analysis has been conducted to analyze the end-user segments that are expected to be lucrative during the forecast period based on their market size and growth rate.

The carbon black market for textile fibers has been segmented based on products. These include polyester, nylon, acrylic and others such as olefins. Based on end-users, the carbon black market for textile fibers has been segmented into apparels, home textiles and others including protective clothing, automobile, agriculture, etc. Detailed analysis for all the segments in the regional and global markets, and forecast based on current and future trends of the industry in terms of volume (Kilo Tons) and revenue (USD Million) have been included in the report. The average price of carbon black is varied according to regions and countries. However, it is kept constant for different product segments and end-users as numerous grades of carbon black with different price points are used in almost all product segments and end-users. This report covers the data pertaining to the carbon black market for synthetic textile fibers only and the market data pertaining to natural textile fibers such as cotton, wool, etc. have not been considered in this report.

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Inflation is not a part of pricing in this report. Prices of carbon black market for textile fibers vary in each region and country. Hence, a similar volume-to-revenue ratio does not follow for each individual region and country. The average price for each product segment and end-user has been taken into account while estimating and forecasting market revenue on the global, regional and country basis. This report provides the market size of carbon black market for textile fibers for 2011 and 2012, and forecast for the next six years. The global carbon black market for textile fibers market size is given in terms of both volume as well as revenue. Market volumes are defined in kilo tons and market revenue is in USD million. Market numbers are estimated based on various product segments of carbon black market for textile fibers and key end-user markets. Market size and forecast for each major product segment and end-user is provided in the context of the global, regional and country level market.

Regionally, the market has been segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Demand for carbon black for textile fibers has been analyzed and forecast for a period of six years. The report also covers profiles of leading companies in the carbon black market for textile fibers. Companies profiled in the report include Cabot Corporation, Philips Caron Black Ltd., Birla Carbon and Mitsubishi Chemical Corporation. Various attributes of these companies such as company overview, SWOT analysis, business strategies and recent developments form the core of the company profiles section.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Epoxy Adhesives Market 2016 Share, Trend, Segmentation and Forecast to 2024

Epoxy adhesives are industrial adhesives formed around the epoxy molecule. The global epoxy adhesives has become a key part of the industrial sector in recent years due to the diversity of substrates that can be attached with epoxy adhesives. They display equal adhesive qualities in a variety of substrates, which has made them popular across a large number of industries. The rising use of modern alternative materials has also driven the demand for epoxy adhesives.

Among others, the key application sectors for the global epoxy adhesives market are the aerospace sector and the automotive industry. The aerospace sector, in particular, has been a vital contributor to the global epoxy adhesives market due to the rising number of enterprises entering the space aviation sector following the sustained success of private companies such as SpaceX. The increasing production of drones, due to the rapid adoption of drones in the air forces of several countries as well as the growing realization of the commercial and recreational utility of drones, is likely to remain a key driver for the global epoxy adhesives market in the coming years. Commercial aviation has also been boosted by the rising disposable income of consumers and is likely to remain a key contributor to the global epoxy adhesives market in the coming years.

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The automotive industry is likely to remain a leading application segment for the global epoxy adhesives market due to the rising demand for vehicles in developing economies and the rising use of alternative materials in automotive design. The demand for personal as well as commercial transportation has grown in developing regions such as Southeast Asia and Latin America due to rapid urbanization, and has thus driven the demand for new vehicles, creating a steady demand avenue for the epoxy adhesives market.

Epoxy adhesives are adhesives or glues whose base polymer is formed by a chemical group known as epoxy. These adhesives possess high strength and load resistance due to which they are used for adhesion of numerous substrates such as wood, metals, plastics, glass, and stones. Epoxy adhesives are formed by the polymerization of resin and hardener which causes the covalent bond formed between the epoxide group of the resin and the amine group of the hardener to produce the cross-linkage of the polymer and thereby dictate the rigidity and strength of the epoxy. Epoxy adhesives stick to a wide variety of materials, and their properties are dependent upon the specific chemistry of the system and the nature of the cross-linking available. A few important performance requirements include exceptional chemical and heat resistance, excellent adhesion and water resistance, as well as satisfactory mechanical and electrical insulating properties.

Based on type, epoxy adhesives can be classified into the one-component and two-component varieties. One-component epoxies can be used straight from the tube without requiring any mixing, metering, or degassing. These epoxies need heat to initiate their function. Two-component epoxies are commonly used epoxy adhesives which do not involve heating for curing. Mixing the resin and hardener suffices. Hardeners trigger the polymerization required for curing. Two-component epoxy adhesives are commonly used; however, demand for one-component epoxy adhesives is anticipated to rise rapidly due to their excellent properties including quick curing time, a solvent-less system, and consumer-friendly nature.

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Epoxy adhesives find extensive application in the aerospace, automotive, building & construction, and semiconductor industries. Building & construction held a major share in the epoxy adhesive market in terms of volume, followed by the automotive sector. Aerospace and semiconductor also constituted a decent share in the market. The developments in the aerospace industry is a key driver of the market. Due to the superior mechanical properties of epoxy adhesives, such as their resistance to sustained load and temperature & pressure variations, they are the adhesives of choice for the aerospace industry. The semiconductor industry is expanding exponentially due to the increasing usage of electronic gadgets, which is driving the market for epoxy adhesives.

Asia Pacific dominates the global epoxy adhesives market. China is a major market for epoxy adhesives in the region. However, India and Thailand are rapidly growing as well, while South Korea and Japan are among the large-scale manufacturers of epoxy resins. The market is expected to advance considerably during the forecast period. Demand for the product is also likely to rise in North America and Europe. Germany, the U.S, and the U.K are major consumers of epoxy adhesives. Latin America and Middle East & Africa exhibit a steady need for epoxy adhesives for the building & construction industry.

Key players operating in the epoxy adhesives market include Henkel AG & Co. KGaA, Huntsman Corporation, 3M Company, Ashland Inc., Sika A.G., The Dow Chemical Company, Lord Corporation, and Permabond LLC.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Biopesticides Market 2015 Share, Trend, Segmentation and Forecast to 2023

Global Biopesticides Market: Snapshot

Pesticides that are derived from natural sources such as animals, plants, minerals, and bacteria are known as biopesticides. From environmental perspective and the point of ecological chain of crop protection, biopesticides are highly beneficial, and are commonly used to control the progress of pests, insects, pathogens, weeds, and other microorganisms in a crop field. Some of the common examples of biopesticides are microbial pesticides, plant growth regulators, insect pheromones, insect growth regulators, fungal biopesticides, viral biopesticides, and bacterial biopesticides. With biopesticides, farmers can significantly increment their yield as well as the quality of it.

According to the report, the global biopesticides market was worth US$1.96 bn in 2015 and the opportunities are estimated to reach a valuation of US$4.17 bn by the end of 2023, expand at a strong CAGR of 9.9% during the forecast period of 2015 to 2023. This prosperity of the market for biopesticides can be attributed to growing World population, which has consequently incremented the food demand. In addition to that, protecting crops from pests via other alternatives is now perceived as harmful in comparison to biopesticides protected crops. Owing to decreasing arable land and growing awareness regarding the contamination caused by chemical pesticides, the preference of biopesticides is increasing, as they are derived from natural resources. Moreover, regulations on food residues, growing resistance of insects against synthetic pesticides, convenience in handling, relatively low cost, and technological advancements are some of the other factors augmenting the demand in the global biopesticides market.

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Ease of Deployment Favoring Bioinsecticides Segment

Based on product type, the market for biopesticides is segmented into biofungicide, bioinsecticide, bionematicides, and bioherbicides. Among these, the segment of bioinsecticides is quickly gaining popularity for the purpose of crop protection. This is a reflection of the resistance shown by insects against pesticides in the recent times. Bioinsecticides are easy to deploy, which is another factor favoring the demand for the same.

On the basis of active ingredient type, the market for biopesticides has been categorized into microbial pesticides, plant pesticides, and biochemical pesticides. Based on crop type, the market has been bifurcated into permanent crops, arable crops, and others including turf and forage grasses and greenhouse crops. Application-wise, the market has been segmented into seed treatment, on-farm application, and post-harvest application.

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Organic Food Trend Driving North America Market

The demand for biopesticides is incrementing across all regions, while North America in particular is quickly turning into a highly lucrative region due to the growing organic food trend. Consumers are now willing to pay extra for food that have not been subjected to chemicals and growing organically using biopesticides and via advanced agricultural techniques. The U.S. is the primary North America market for biopesticides, and the demand is expected to primarily come from the fruits and vegetables segment, which is attributed to increasing awareness pertaining to nutritional benefits of crops produced using biopesticides. North America is expected to remain most prominent regional market for biopesticides throughout the forecast period, followed by Europe, although vast population base and growing awareness in several emerging economies such as India, Japan, Australia, and South Korea is expected to turn Asia Pacific into a lucrative market towards the end of the forecast period.

The competitive landscape of the global biopesticides market is moderately consolidated with top five companies accounting for more than half of the shares. These five companies are Bayer CropScience AG, BASF SE, Valent Biosciences Corp, Arysta LifeSciences, Novozymes A/S, and Dow AgroSciences.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Conformal Coatings Market 2016 Share, Trend, Segmentation and Forecast to 2024

Global Conformal Coatings Market: Overview

Conformal coating is a special type of coating applied to electronic devices in order to protect them from external factors such as heat and rain. These form a protective layer shielding electronic circuits from moisture and chemical contaminants and help prolong the life of electronic devices.

Various coating methods are used to protect electronic components from external conditions and contaminants. The most popular methods include spray application, brush coatings, and conformal coating dipping. Regionally, the global conformal coatings market has been segmented into Asia Pacific, Europe, North America, and Rest of the World. The opportunities for expansion exhibited by these regions are examined extensively in the report.

The report on conformal coatings presents a quantitative and qualitative assessment of various factors and government policies influencing the global market. It is compiled with the intent of updating the stakeholders about the prevailing market dynamics and its outlook. The report also includes details pertaining to the investment feasibility in the market and opportunities for new entrants.

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Global Conformal Coatings Market: Key Opportunities and Threats

The global conformal coatings market has reported significant growth in the past couple of years. Growth trends exhibited by the market are expected to continue in the next few years. The expansion of the electronics industry, especially in emerging economies, is likely to boost the conformal coatings market. Conformal coatings ensure better moisture and dielectric resistance; these are key factors increasing usage in the electronics industry.

Based on material type, the acrylic conformal coating segment is expected to dominate the market in the near future. Acrylic conformal coatings are easy to apply and the easiest to rework. Additionally, these provide high resistance from abrasion, chemicals, and moisture; take less time to cure, and are available at low cost. These are the key factors encouraging the use of acrylic conformal coatings across industries.

Apart from the electronics industry, demand for conformal coatings is increasing in the automotive electronics segment. Electronics installed in vehicles are exposed to chemical contaminants, harsh working conditions, moisture, dust, and vibration. These factors necessitate the use of conformal coatings on automotive electronics to ensure their better performance and longevity.

Automotive manufacturers strive to offer high quality and reliable smart vehicles at competitive prices. This prevalent trend in the automotive industry in turn is bolstering demand for conformal coatings in the industry.

Global Conformal Coatings Market: Regional Outlook

Regionally, North America dominates the global conformal coatings market. The market in the region is expected to expand at the highest CAGR during the forecast period. High demand for conformal coatings in industries located in countries such as Canada, Mexico, and the U.S. contributes to the growth of the conformal coatings market in North America. The U.S. holds the largest market share in North America.

Enterprises operating in the global conformal coatings market witness lucrative opportunities in Asia Pacific. The strategic initiatives adopted by companies to gain customers have proven beneficial for the expansion of the conformal coatings market in the region. The rapid expansion of the electronics industry in the region has also contributed to the growth of the conformal coatings market in Asia Pacific.

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Global Conformal Coatings Market: Vendor Landscape

In order to study the prevailing vendor landscape in the market, the report profiles companies such as Henkel, Electrolube, Cytec Industries, Inc., Dymax Corporation, Chase Corporation, and DuPont. These companies are studied based on their financial overview, product portfolio, and strategies adopted.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments

Market trends and dynamics

Supply and demand

Market size

Current trends/opportunities/challenges

Competitive landscape

Technological breakthroughs

Value chain and stakeholder analysis

The regional analysis covers:

North America (U.S. and Canada)

Latin America (Mexico, Brazil, Peru, Chile, and others)

Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)

Eastern Europe (Poland, Russia)

Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)

Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Benzyl Alcohol Market 2016 Share, Trend, Segmentation and Forecast to 2024

Benzyl Alcohol Market: Snapshot

The global market for benzyl alcohol has been expanding at a steady pace over the years owing to the consistent demand arising from various end-use industries. The growing applications of benzyl alcohol in the paints and coatings, food and beverages, pharmaceutical, and personal care industries are likely to continue driving the demand for the same over the course of the forecast period. The global benzyl alcohol market was valued at US$198 mn in 2015 and is projected to reach US$299.2 mn by 2024, expanding at a CAGR of 4.7% therein.

This highly consolidated market is marked by the presence of multinational manufacturing companies with a strong regional foothold. Retaining a high degree of competition throughout the forecast period, the benzyl alcohol market will present numerous growth opportunities for players in various avenues.

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Pharmaceutical Industry Presents Lucrative Options for Market Players

Benzyl alcohol plays an important role in a wide range of end-use industries such as personal care, food and beverages, pharmaceutical, and paints and coatings. By application, paints and coatings was the leading end-use segment in the global benzyl alcohol market, constituting more than 60% in 2015. Benzyl alcohol is employed in several applications in the paints and coatings industry. It is used as a solvent for manufacturing paints, inks, and epoxy resins and as a paint stripper in industries such as automotive and aviation.

The pharmaceutical sector is estimated to be the fastest growing end-use segment during the forecast period. A significant increase in the usage of benzyl alcohol in the pharmaceutical industries in developing regions is projected to propel this segment in the near future.

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Asia Pacific to Gain Considerable Traction by 2024

The global benzyl alcohol market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

In terms of volume, North America accounted for a share of more than 35% in 2015. The region is estimated to maintain its lead during the forecast period, with the U.S. likely to be one of the prime manufacturers and consumers of benzyl alcohol in the next few years. The growth of the North America market can be attributed to the increased demand for benzyl alcohol from the paints and coatings, pharmaceutical, and personal care industries. However, the benzyl alcohol market is likely to expand at a sluggish rate in North America and Europe over the course of the forecast period.

Asia Pacific is anticipated to be the fastest growing regional market for benzyl alcohol. Increased demand for benzyl alcohol in the pharmaceutical and personal care industries is estimated to be the key factor driving the market in the region. This trend is projected to shift the momentum of demand between 2016 and 2024 from the developed markets to developing regions.

Key players in the global benzyl alcohol market include Emerald Performance Materials, Lanxess, Pharmco-Aaper, Avantor Performance Materials, Merck KGaA, Alfa Aesar, Finar Limited, Gujarat Alkalies and Chemicals Limited, Elan Chemical Company Inc., Wuhan Youji Industries Co., Ltd., Wuhan Biet Co., Ltd., Hubei Greenhome Fine Chemical Co., Ltd., and Ineos AG.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Barite Market SWOT Analysis Of Top Key Player Forecasts To 2024

Global Barite Market: Snapshot

Of late, the global market for barite has been experiencing remarkable growth. The escalating need for energy has led to a phenomenal rise in oil and gas production. As barites are used as weighting agents in drilling fluids, on account of their high specific gravity, their demand has been augmenting tremendously across the world. In addition to this, the growing application of barite as a filler agent in rubber, paints, and plastics is also anticipated to influence their demand over the forthcoming years.

According to Transparency Market Research (TMR), the global market for barite presented an opportunity worth US$1.3 bn in 2015. Rising at a CAGR of 4.10% between 2016 and 2024, the market is estimated to attain a value of US$1.8 bn by the end of 2024. Alongside this, the production volume of barite, worldwide, is likely to cross 11,645.7 kilo tons by the same time period.

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Demand for Barite to Remain High in Drilling Mud

Drilling mud, rubber and plastics, pharmaceuticals, pulp and paper, and paints and coatings have surfaced as the key application areas of barite across the world. The demand for barite has been higher in drilling mud when compared to other application areas as it is extensively utilized as a weighting agent in the manufacturing of drilling fluids for several drilling activities in the oil and gas industry.

The significant growth in the demand for oil and gas, fueled by the continual rise in the need for energy across the world, is likely to boost the requirement of drilling mud in the near future, leading to a considerable rise in the application of barite. This, as a result, is anticipated to ensure the position of drilling mud as the leading application area of barite over the forecast period.

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Constant Increase in Oil and Gas Drilling Activities to Ensure North America’s Lead

Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America are the main regional markets for barite. In 2015, North America emerged as the market leader with a share of 30% in the overall market. The augmenting demand for barite drilling mud in the oil and gas industry has boosted this regional market significantly over the last few years. Analysts expect North America to retain its position throughout the forecast period and attributed the constant increase in oil and gas drilling activities for this. The U.S. is projected to lead the North America barite market over the forthcoming years.

Asia Pacific is also anticipated to surface as a promising market for barite in the years to come. The notable growth in the rubber and plastic industry in Asia Pacific can be accredited for the rising demand for barite in this region. On the other hand, Latin America and the Middle East and Africa are expected to witness stable growth in their respective markets for barite in the near future.

Andhra Pradesh Mineral Development Corp. Ltd., Excalibar Minerals LLC, Halliburton Co., P&S Barite Mining Co. Ltd., Anglo Pacific Minerals, and CIMBAR Performance Minerals are some of the prominent barite producers across the world.

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