Barite Market Projected to Register 4.2% CAGR through 2029

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Barite Market

• March 2020

Report Id REP-GB-150 Published On Mar
05,2020 Category Chemicals and Materials
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Research Methodology (1/2)

• Systematic Research Approach

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Barite Market Analysis

• 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.
• North America will remain a leading regional
  market for barite.
• Asia Pacific is projected to display strong
  growth during the forecast period.

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Barite Market Analysis

• 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.
• 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.

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Barite Market Analysis
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. 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-Trajectory-of-42-through-2029-
Oil-and-Natural-Gas-Exploration-Activities-Continu
e-to-Drive-Growth-Concludes-FMI-Study
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Barite Market Analysis

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Barite Market Analysis
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