The major trend being witnessed in the global barite market is increased investments by companies to boost the exploration and production of the mineral (barite). Owing to the large-scale application of the mineral in various industries, a large number of market players engaged in the processing of the mineral are focusing on expanding their production capacity.
On the basis of region, the barite market has been classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Among all the regions, the market demand for the mineral was the highest in North America during the historical period.
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Major restraints identified in the barite market are the fluctuation in oil prices and the requirement for high capital for the exploration of oil wells. Over the past few years, the prices of oil have declined sharply, thereby eroding the profitability of oil companies.
Some of the major companies operating in the global barite market are Mil-Spec Industries Corporation, Milwhite Inc., International Earth Products LLC, Seaforth Mineral & Ore Co. Inc., Ashapura Minechem Ltd., and Kaomin Industries.
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The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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