Barite Market to Face a Significant Slowdown in 2029, as COVID-19 Sets a Negative Tone for Investors

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Barite Market

• March 2020

Report Id REP-GB-150 Published On
July-2020 Category Chemicals and Materials
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Barite Market Analysis

• FMI Analyzes Impact of COVID-19 on Barite
  Market Stakeholders to Focus on Long-term
  Dimensions
• VALLEY COTTAGE -- Riding the growing trend of
  high energy consumption, and the resultant demand
  for oil and gas, the global barite market is
  projected to display a moderate 4.2 CAGR through
  the end of 2029. Capabilities of barite to absorb
  gamma and x-rays has generated lucrative
  opportunities for growth of the barite market. A
  new Future Market Insights (FMI) study reveals
  that product innovations and geographic expansion
  would remain the focal point for manufacturers in
  the barite market.
• "Major players in global barite market are
  diversifying their product portfolio across
  multiple end-use industries through expansion and
  innovation to sustain their market position,"
  says the FMI report
• Barite Market Key Findings
• Oil and gas industry to remain key application
  area of barite through 2029, owing to population
  growth.
• Increased adoption of coating applications has
  triggered the uptake of barite in paints,
  varnishes, automotive, and textiles.

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Barite Market Analysis

• North America will remain a leading regional
  market for barite.
• Asia Pacific is projected to display strong
  growth during the forecast period.
• Barite Market Key Driving Factors
• Heightening oil and natural gas exploration
  activities continue to push demand for barite.
• Surging popularity of barite as a filler in inks,
  paints, plastics, and coatings remains a strong
  booster to market growth.
• Properties of barite including high stability,
  enhanced finish, chemical inertness, and
  eco-friendly attributes is bolstering market
  growth.
• The use of barite in radiation shielding for the
  burgeoning cement industry will augur well for
  the barite market.

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Barite Market Analysis

• Barite Market Key Restraints
• The high complexity and cost of the barite
  production process threatens the long-term growth
  of market.
• The consolidated and competitive market landscape
  generates critical challenges for emerging
  players in the barite industry.
• Competition Landscape
• The global barite market is consolidated, where
  leading players hold key positions, across the
  globe, except in China, where the market is
  fragmented. Targeting the production of barite to
  meet the needs of variegated applications will be
  among the key strategies of manufacturers.
  Companies are also investing in product
  innovation and launches, research and development
  activities, and capacity and geographical
  expansions to bolster growth in untapped markets.
  FMI's analysis also indicates that companies are
  preferring expansion in Asia Pacific to leverage
  lucrative opportunities.

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Barite Market Analysis

• Some of the major companies operating in the
  global barite market include, but are not limited
  to, Guizhou Sinobarite Mining Co., Ltd., Ecostar,
  Andhra Pradesh Mineral Development, Corpomin,
  Excalibar Minerals, Halliburton Energy Services
  Inc., and Milwhite.
• Press-release Source - https//www.accesswire.com/
  580422/Barite-Market-to-Show-Modest-Growth-Traject
  ory-of-42-through-2029-Oil-and-Natural-Gas-Explora
  tion-Activities-Continue-to-Drive-Growth-Concludes
  -FMI-Study
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  intelligence, statistical anecdotes, technology
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Barite Market Analysis

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