The global barium carbonate market reached a value of US$ 577.9 Million in 2021. Looking forward, IMARC Group expects the market to reach US$872.2 Million by 2027, exhibiting a CAGR of 6.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Barium carbonate (BaCO3) is a white solid sourced from the precipitation of barium hydroxide and urea. It is also obtained from mineral barite or barium chloride. Barium carbonate is water-insoluble, tasteless, odorless, dense and extremely toxic in nature. It is utilized in the production of various commercial products, which include rubber, paints, enamels, ceramics, oil drilling, glass, and bricks. Specialty glass made using barium carbonate provides radiation shielding in CRT televisions. It is also used in making bricks, clays, photographic paper coatings, hard ferrite magnets, permanent ceramic magnets for loudspeakers and in the removal of sulphate from salt brines before they are fed into electrolytic cells. Besides this, the high toxicity of barium carbonate makes it an ideal solution in the formulation of rodenticides. Barium Carbonate Market Trends:
Rapid expansion in the construction and real estate industries is primarily driving the global barium carbonate market toward growth. Besides this, governments of various nations have been focusing on infrastructural development, which is escalating the demand for bricks and ceramic tiles. The market growth is further supported by significantly increasing urbanization and disposable incomes, particularly in developing countries, which has led to the inflating sales of premium-quality decorative items, such as vases, glass paintings, and ceramic figurines. Moreover, the electro-ceramics industry has been witnessing significant growth, wherein barium carbonate is utilized in the production of several components, such as piezoelectric transducers, electromechanical devices, sensors, and optical modulators. Furthermore, the implementation of stringent regulations to control environmental degradation caused by the industrial sector has prompted key players to adopt eco-friendly processes for producing barium carbonate, such as using methane as the reducing agent, which is creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global barium carbonate market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on end use.
Breakup by End Use: Glass
Brick and Clay
Photographic Paper Coatings
At present, barium carbonate is most widely used in glass production across the globe.
Middle East and Africa
At the regional level, China exhibits a clear dominance in the market, accounting for majority of the total global market.
The competitive landscape of the industry has also been examined, along with the profiles of the key players. Some of these players include Solvay S.A., Chemical Products Corporation, Hubei Jingshan Chutian Barium Salt Corporation Ltd., Guizhou Red Star Development Import and Export Co. Ltd., Sakai Chemical Industry Co. Ltd., Hebei Xinji Chemical Group Co. Ltd., Shhanxi Ankang Jianghua Group Co. Ltd., Zaozhuang City Yongli Chemical Co., Ltd., etc. Key Question Answered in this Report
1. What was the size of the global barium carbonate market in 2021?
2. What is the expected growth rate of the global barium carbonate market during 2022-2027?
3. What are the key factors driving the global barium carbonate market?
4. What has been the impact of COVID-19 on the global barium carbonate market?
5. What is the breakup of the global barium carbonate market based on the end-use?
6. What are the key regions in the global barium carbonate market?
7. Who are the key players/companies in the global barium carbonate market?