Companies engaged in baryte mining 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 BUSINESS RESEARCH COMPANY VALUED THE BARYTE MINING MARKET AT $2 BILLION IN 2017
Asia Pacific was the largest geographic region in the market, accounting for more than one-third of the global market.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, modular components design with 3D printing is being widely used in the mining industry. 3D printing technology enables companies in remote locations to manufacture critical parts onsite as per the requirement; thereby reducing delays due to unplanned maintenance and eliminates the need for holding inventories. Miners are relying on advanced heavy lift transport to move modular equipment to remote sites. This technology enables miners to construct processing units in low cost factories elsewhere, thus avoiding expensive onsite construction of modular equipment.
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Excalibar Minerals LLC was the biggest player in the baryte mining market, with revenues of $0.04 billion in 2017. Excalibar’s strategy aims at increasing their manufacturing facilities with a significant capacity to service customer’s needs and expanding scope and geographic position in services.
The baryte mining market 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 Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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