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Calcium carbonate is a naturally occurring mineral found in rocks, shells of marine organisms, and in the mineral form of calcite and aragonite. It serves as a primary component of limestone, making it one of the most abundant materials on Earth. Its applications are extensive, primarily in the construction industry where it is used as a building material (for stone and cement), as well as a key ingredient in lime production.

As of October 2023, the barite market has seen fluctuations in pricing due to recovering global oil prices post-pandemic. With many countries ramping up their drilling operations to meet energy demands, OEMs are experiencing increased requests for barite. This surge in demand has led to a slight increase in prices per ton. Moreover, the trend toward eco-friendly drilling practices has motivated manufacturers to supply barite that meets stringent environmental standards, potentially impacting pricing structures.