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(MoneyNewsWire.Net, July 25, 2018 ) Baryte mining include 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.
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The global baryte mining market was valued at $2 billion in 2017. This is due to estimated future stability in the commodity prices, and rising demand for metallic and non-metallic products from developing countries such as India, for purposes of building and construction, and manufacturing.
The market can easily split into oil & drilling, paints & coatings, pharmaceuticals, rubber & plastics, textiles, adhesives, and others.
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The USA was the largest country accounting for nearly one-fifth of the global baryte mining market. This is mainly due to companies engaged in baryte mining industry that are using autonomous vehicles and automated technologies to increase the productivity and reduce the labour cost. The USA was followed by China and India as the next largest countries in the market.
The major competitors in the market are Excalibar Minerals LLC, Andhra Pradesh Mineral Development Corporation (APMDC), CIMBAR Performance Minerals, Halliburton, and Anglo Pacific Minerals. Excalibar Minerals has sourced and processed high-quality barium sulfate and calcium carbonate ores.
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