According to the latest report by IMARC Group, titled “Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global barium carbonate market size reached US$ 577.9 Million in 2021. Barium carbonate refers to a dense, tasteless, and odorless, white-colored powder obtained from the precipitation of barium hydroxide and urea. It is extremely toxic in nature and is utilized in the production of various commercial products, such as paints, enamels, ceramics, glass, and bricks. In addition, it serves as a key component in the production of ceramics and the treatment of salt brine. Besides this, the high toxicity of barium carbonate makes it a suitable ingredient in the formulation of rodenticides.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Barium Carbonate Market Trends:
The market is primarily driven by the significant expansion in the construction and real-estate industries. In addition, the increasing government expenditure on infrastructural activities across the globe represents another major growth-inducing factor. Besides this, the market is further propelled by rapid urbanization and rising expenditure capacities of consumers, particularly in developing countries, which has escalated the demand for premium-quality decorative items, such as vases, glass paintings, and ceramic figurines. Moreover, the growing electro-ceramics industry is also contributing to the market growth as barium carbonate is utilized in the production of several components, such as piezoelectric, electromechanical devices, transducers, sensors, and optical modulators. Furthermore, due to the implementation of stringent regulations to control environmental degradation caused by the industrial sector, key players are adopting eco-friendly processes for producing barium carbonate, which is creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 872.2 Million by 2027, expanding at a CAGR of 6.9% during the forecast period (2022-2027).
- On the basis of the end use, the market has been divided into glass, brick and clay, barium ferrites, photographic paper coatings and others. Amongst these, glass holds the largest market share.
- On a geographical front, China exhibits a clear dominance in the market. Other major regions include Japan, Europe, Latin America, Middle East and Africa, and Others.
- The competitive landscape of the market has been analyzed, with some of the key players being 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., Shaanxi Ankang Jianghua Group Co. Ltd., and Zaozhuang City Yongli Chemical Co., Ltd.
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