IMARC Group’s latest report, titled “Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global barium carbonate market reached a value of more than US$ 410 Billion in 2016, exhibiting at a CAGR of around 13% during 2009-2016. Barium Carbonate (BaCO3), also known as witherite, is a dense white coloured chemical compound. It is insoluble in water but soluble in most acids and acts as a matting, flux and crystallizing agent in different applications. Barium Carbonate is used in the manufacture of photographic paper coatings, special glass, cement, ceramic glazes, etc. It is a vital raw material used in the production of magnetic materials, optical glass, fireworks and funnels.
Highlights of the global barium carbonate market:
- Surge in the infrastructural activities worldwide is the major driver for the market growth.
- Based on the end-use, glass manufacturing represents the leading consumer of barium carbonate.
- China holds the largest share, accounting for the majority of the global production.
Barium carbonate is widely used in the ceramics industry as an ingredient to glaze the tiles. Adoption of tiles instead of concrete floors and walls in recent years coupled with rising construction activities are contributing to the market growth. The barium carbonate market is further stimulated by surging government expenditure on infrastructural development. Additionally, this compound is used in the production of glassware as it gives a brilliant final finish. Rising standards of living coupled with surging disposable incomes has influenced the demand for glassware, particularly in emerging regions. Apart from this, the demand for barium carbonate has also been boosted with an increase in the production of fluxes, frits and enamels, standard glass, television glass, electrodes, paper, rubber and paints. Owing to these factors, the global barium carbonate market is further anticipated to grow, reaching a value of more than US$ 850 Billion by 2022.
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The market has been segmented on the basis of end-use where the manufacturing of glass accounts for the majority of the total share. Other major end-use segments include barium ferrites, brick and clay, photographic paper coatings and others. Region-wise, China dominates the market, accounting for more than three-fourths of the total global production. It is followed by Japan, Latin America, Middle East and Africa, and Europe. On analysing the competitive landscape of the market, the key players found are Qingdao Red Star Chemical Import and Export, Hebei Xinji Chemical Group Co. Ltd., Solvay & CPC Barium Strontium GmbH & Co., Osram Sylvania Products Inc. and Sakai Chemical Industry Co. Ltd.
The report has examined the global barium carbonate market on the basis of:
- Brick and Clay
- Barium Ferrites
- Photographic Paper Coatings
- Latin America
- Middle East and Africa
- Qingdao Red Star Chemical Import and Export
- Hebei Xinji Chemical Group Co. Ltd.
- Solvay & CPC Barium Strontium GmbH & Co.
- Osram Sylvania Products Inc.
- Sakai Chemical Industry Co. Ltd.
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