Barite Price Trend and Forecast

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Market Overview

For the Quarter Ending June 2023

North America

The price of Barite in the USA declined in the second quarter of 2023. This was due to various factors such as the declining economic condition amid rising inflation rate and debt crisis. The downfall of major banks across the USA created a debt crisis that adversely affected the Barite markets. Meanwhile, the ongoing trade war between the USA and China, which has disrupted supply chains, caused a decline in demand from overseas markets. The downstream paint industry showed a reduction in demand as automotive sales declined amid plunging buying capacity from the buyer's side in the US spot market. Concerns about the global economic outlook have dampened demand as the buyers were shying away from placing large orders. The decline in prices has had a negative impact on the US Barite industry. However, the industry is still expected to grow in the long term, as Barite is a key material in several high-growth sectors, such as the paint and paper industry.

Asia Pacific

The price of Barite in India showed a bearish price trend in the second quarter of 2023. This was due to Weak downstream demand, particularly from the paint and paper industry. The overseas market seemed to be dampening as the uncertain economic condition resulted in a lowering of orders from the overseas European and US markets. The inventory level remained high as the supply increased from China as new production capacity became active. The macroeconomic condition regarding the hike in the global inflation rate provoked buyers to shy away from placing large orders. The increased extraction and energy costs have been implying a downward pressure on the Barite market. A stronger rupee made the imported magnesium more competitive. Additionally, the declining demand from the downstream paint industry due to a lack of automotive sales incited the mills to reduce their offer price. As a result of the price decline, the Indian Barite industry is facing some challenges. However, there are also some opportunities, such as the potential for increased exports.

Europe

The price of Barite in Germany declined in the second quarter of 2023 due to a combination of factors, including degrading economic conditions along with a rising inflation rate. In June, Germany entered a recession period as the inflation rate was consistently rising across Germany. The increase in the interest rate by the government led to a decrease in demand from the buyer's side as the uncertain economic condition provoked them to delay placing large orders as the market condition weakened. Weak demand from the automotive industry led to a declining consumption rate of Barite for paint industries as the European market continues to recover from the economic instability phase. The inventory level was on a higher edge as the supply from China increased as new production capacity came online. The strengthening of the euro made imported Barite more competitive. The decline in prices has had a negative impact on the German Barite industry. However, the industry is still expected to grow in the long term, as Barite is a key material in several high-growth sectors, such as renewable energy and electronics.

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Services

Market Analysis

Company-wise installed capacity, production volume and plant operating efficiency is captured directly from manufacturers. Import and Export volume is captured from government sources and demand for Barite is calculated considering the production, import, export and inventory-levels on the country and regional level markets.

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Pricing Analysis

The product price is correlated with the price trend of crude oil, demand-supply gap, fluctuations in the feedstock and with the market movement of the downstream sectors.

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Company Profile

Basic details and information on financial performance of leading global players in the Barite market is presented in a visually captivating manner. Expansion plans and the company’s strategy is also captured to understand the vision and mission of the company to help understand the areas where companies need to focus more.

News & Deals

Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.

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Methodology

ChemAnalyst gathers information through primary research surveys conducted with various Barite manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company's annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Barite market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry's performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behaviour of consumers across the globe.

Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Barite market.

Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on monthly and yearly basis.

Finally, region-specific markets for Barite are analyzed and region-wise demand pattern is tracked.

About

Barite is a silicate mineral that is both rare and fascinating. This one-of-a-kind gemstone is distinguished by its peculiar brown to reddish-brown hue, which is frequently interwoven with bands of black or white, creating a captivating pattern evocative of bear claws. Barite, which is mostly composed of beryllium aluminum cyclosilicate, has exceptional hardness and endurance, making it perfect for jewelry and collector's items. Its scarcity and fascinating features have given it a reputation among geologists and mineral aficionados as a highly sought-after diamond. Barite is only found in a few chosen places across the world, contributing to its rarity. Due to its rarity and delicate nature, cutting and shaping it into stunning jewelry needs exceptional artistry.

Product Specific Details

HS Code:	25111000
Grade:	Specific Gravity 4.2
Contract Size:	50MT-100MT
Packaging Type:	50 KG Bag

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Incoterms: Ex-Works

Incoterms Definitions –

CFR - The price at which a country imports a commodity, which includes the cost of the commodity and freight charges.

FOB - The price at which a country is exporting its commodities.

Ex-works - These are the actual factory price which does not include any logistics charges.

Ex-Location - These are the prices of traders/suppliers/distributors for domestic trade purposes.

Taxes - The prices shown on the portal are exclusive of all taxes such as GST or VAT

Discounts - ChemAnalyst publish contract prices, but we do not consider any trade discount or bulk discount.

Countries Covered:

· India

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Barite Price Trend and Forecast

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