Barite Market Projected to Register 4.2% CAGR through 2029 - PowerPoint PPT Presentation

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Barite Market Projected to Register 4.2% CAGR through 2029


Use of barite (or barium sulphate) as a filler in varnishes, inks, paints, coatings and plastics has gained significant traction. High temperature stability and density, along with chemical inertness of barite is surging its demand in these industries. – PowerPoint PPT presentation

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Title: Barite Market Projected to Register 4.2% CAGR through 2029

Barite Market
  • March 2020

Report Id REP-GB-150 Published On Mar
05,2020 Category Chemicals and Materials
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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
  • "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
  • 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.

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
  • 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.

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
Barite Market Analysis
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Barite Market Analysis
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