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Key Drivers of Europe Barite Market
The barite market in Europe is expanding due to rise in oil & gas drilling activities. Furthermore, increase in application of barite as a weighing agent in oil well drilling fluids to counteract certain pressures that result from well drilling operations significantly contributes toward the expansion of the market. Surge in offshore oil & gas drilling activities and increase in investment by major oil companies in deep and ultra-deep offshore exploration are expected to further augment the market during the forecast period.
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Barite is also utilized as a filler in paint and coating industries. Thus, expansion of the barite market can be attributed to increase in paint and coating consumption in construction, automotive, and general industries in Europe. Barites are also used as fillers or additives in industrial products, including rubber, ceramics and glass, high density concrete and plaster, dielectrics, and medical applications.
Growing End-use Industry to Create Opportunities for Barite Market
The increasing penetration of the barite as a filler in paints is projected to fuel the market during the forecast period. Rapid expansion of the construction sector in emerging economies of Asia Pacific is expected to drive the production of paints & coatings and plastics, which, in turn, is likely to propel the demand for fillers, such as barite. Barite is also utilized as a filler in the manufacturing of rubber and plastics. Consumption of plastic has increased in automotive, and electrical & electronics industries. Expansion of these end-use industries has led to a surge in production of plastics. Consequently, the demand for barite from plastic manufacturers is expected to rise during the forecast period.
The rising demand for barite from the medical industry is also fuelling the barite market in Europe. High pure barite is used in the gastrointestinal tract where its density helps prevent x-ray penetration and hence, is visible on an x-ray. Thus, it helps determine normal and abnormal anatomy.
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Europe Barite Market, by Grade
Europe Barite Market, by Application
Europe Barite Market, by Country
Leading Players in Europe Barite Market
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Circular Vibrating Screener Associated with Low Failure Rate in Barite Processing
The Europe barite market was valued at US$ 244 Mn in 2020 and is expected to reach US$ 370 Mn by 2031. However, there is a need to improve processes in barite screening since the particle size of crushed barite fragments varies, and the barite beneficiation equipment generally has its own required feed particle size. Hence, stakeholders are adopting the circular vibrating screener, which leads to low failure rate, high screening efficiency, and large processing capacity.
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