Barium Derivatives Market Growth, Share, Demand by Regions, Types and Analysis of Key Players – Global Forecasts to 2023

Barium Derivatives Market
Barium Derivatives Market by Type, by Applications, by Region- Forecast till 2023

Market Scenario:

Barium is a highly reactive chemical element which is never found in its free form in the environment. Some barium derivatives can be easily synthesized on pilot or industrial scale, while some of them are naturally occurring, namely barium sulfate (barite) and barium carbonate (witherite).  Almost all barium derivatives are odorless, colorless and are found in crystal or granular form. Barite is a major source of barium derivatives such as barium chloride and many others.

Barite deposits are found majorly in North America and Asia Pacific. Applications of barium derivatives can be found in various sectors, including construction, metal alloys, mining, explosives, water treatment, and others. In construction they are used to make tiles, ceramic glaze, home decorative products and cement. Moreover, glass can be made out of the barium derivative namely barium carbonate. Barium derivatives are combined with steel and aluminum to form their alloys, which in turn used in automotive and other metal industries to make light and durable metals. Some of them are used in grenades, explosives and firecrackers. Barium derivatives also find their application in making drilling fluid to be utilized in mining. Increasing construction activities and growth of automotive industry are expected to be the drivers of growth in global barium derivative market.

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There is an exponential demand of barium derivatives in building & construction industry. The growth of market is particularly driven by demand for making tiles and ceramic glaze. Paints & varnishes is an integral part of construction industry, which is also expected to push the demand in this industry. In addition, automotive industry is flourishing from past few years, where the use of alloys is indispensable. Apart from automotive, demand of alloys for various other industrial purposes would propel the demand of barium derivatives further. Globally, the scarcity of rare earth metals and other minerals necessitates exploration and mining activities, which may witness the demand for drilling fluids. China, India, U.S., Russia, and North Korea are expanding their military might and increasing the size of their arsenal. The growing trend of demonstration of military power by these countries may witness the rise of barium derivatives demand for making explosives. Established government policies in developed countries to mitigate water pollution can further fuel the global barium derivative market. Despite the steady growth drivers, global market is likely to be hampered by some key restraints, which includes increasing investment in R&D to develop new ecofriendly products. International and national organizations namely World Health Organization (WHO), US Environmental Protection Agency (EPA), and UK Health and Safety Executive (HSE) are spreading the awareness regarding negative impacts of barium derivatives on vital human organs. Moreover, high reactivity rate of barium limits its use under normal circumstances. However, development of barium nanoparticles is expected to present new opportunities to industry players in coming years.

Segmentation:

The global barium derivative market has been segmented on the basis of type, application and region. Based on types global barium derivative market is divided into barium carbonate, barium sulfate, barium chloride, barium nitrate, and others. Among them the growth of barium derivatives is majorly driven by barium carbonate owing to its demand by growing building & construction industry. On the basis of applications, global barium derivative market is segmented into constructionmetal alloys, mining, explosives, water treatment, and others, wherein the application of barium derivatives is expected to witness surge in demand from construction along with metal alloys in automotive sector. Geographically, global barium derivative market is divided into Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. During the forecast period Asia Pacific is estimated to be the leading region in the global barium derivatives market.

Key Players:

Key players in global barium derivative market are Solvay (Belgium), Zigong Gold Way International Ltd. (China), Alpha Chemika (India), American Elements (U.S.), Shanghai Yixin Chemical Co., Ltd. (China), Rahul Barium Chemicals Pvt. Ltd. (India), Santa Cruz Biotechnology (U.S.), Sigma-Aldrich Co. LLC. (U.S.), Divjyot Chemicals Private Limited (India), Oasis Fine Chem (India)

Intended Audience:

  • Barium derivative manufacturers
  • Traders and distributors of barium derivative
  • Research and development institutes
  • Potential investors
  • Raw material suppliers
  • National laboratory

Regional Analysis:

Asia Pacific, North America, and Europe are the major regions in global barium derivative market. Asia Pacific accounts for more than 50% of market share as of 2016. The increasing use of barium derivative in the region is attributed to growing building & construction activities. India and China holding the major share of market in this region. Demand of ceramic glaze and metal alloys in China is the main driver of barium derivative market growth. Moreover, industrialization in the region is poised to reach new heights in terms of CAGR in coming years. North America ranks second in terms of global market share of barium derivatives. Strengthening of automobile industry is the main driver of barium derivatives demand in this region. Furthermore, large military spending by U.S. for arsenal development is anticipated to boost demand of barium derivative.  Europe is another substantial market for barium derivatives. The industries in this market uses most of the barium derivative in automotive parts.  Strict regulatory measures by the governments of various countries namely U.K., Germany, and Belgium have mandated the chemical industries to treat their effluent before discharge.  Lastly, other regions such as, Middle East & Africa, and Latin America are holding a relatively smaller share in the global barium derivative market. Nevertheless, with steadily rising industrialization in these regions, it is projected that they may acquire significant share in global barium derivative market in coming years.

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