According to a new research report by IMARC Group, titled “Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global barium carbonate market was worth US$ 504 Billion in 2018, growing at a CAGR of nearly 7% during 2011-2018. Barium carbonate is a dense, tasteless and odorless white-colored powder with the chemical formula BaCO3. Naturally found in the mineral witherite, it is thermally stable and does not readily disassociate. Barium carbonate can also be manufactured from barium chloride or mineral barite, and is commercially available in granular, powder and high-purity forms. Although insoluble in water, barium carbonate is soluble in most acids, with the exception of sulfuric acid. Due to its chemical properties, barium carbonate finds application in the manufacturing of bricks, glass, ceramics, tiles and several chemicals.
Barium carbonate is widely used for glazing ceramic tiles as it acts as a crystallizing and matting agent and synthesizes unique colors when combined with specific coloring oxides. A rise in construction activities across the world has increased the usage of tiles, thereby stimulating the market growth. In addition to this, barium carbonate increases the luster and refractive index of glass. Therefore, it is utilized in the production of cathode ray tubes, glass filters, optical glass and borosilicate glass. Several other factors that are contributing to the growth of the barium carbonate market include rising population, inflating disposable incomes, and increasing government expenditure on infrastructural activities. Looking forward, the market value is anticipated to cross US$ 861 Billion by 2024, at a projected CAGR of more than 9% over the forecast period.
- On the basis of end-uses, the market has been divided into glass, barium ferrites, brick and clay, and photographic paper coatings. Amongst these, glass represents the largest end-use segment of barium carbonate. As barium carbonate increases the refraction and scratch resistivity of the glass, it is used for manufacturing optical glass, cathode rays, etc.
- On a geographical front, China is the leading market for barium carbonate, accounting for the majority of the total market share. A rise in the construction activities is increasing the consumption of ceramic tiles and glass in the region, thereby contributing to the market growth. Other major regions include Japan, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been analyzed with the detailed profiles of the key players operating in the barium carbonate industry.
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