The latest report by IMARC Group 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, growing at a CAGR of around 13% during 2009-2016. Barium carbonate is a white, odourless and heavy salt of barium with the chemical formula BaCO3.It is also known as witherite and is a very dense substance which is insoluble in water and slightly soluble in carbonated water.
It is commercially made from barium sulphide either by passing carbon dioxide at 40 to 90 °C or by treatment with sodium carbonate at 60 to 70 °C. Barium Carbonate is widely used in the manufacture of specialty glass which is used to provide radiation shielding in cathode-ray and television tubes. It is also used in fine glassware, treatment of salt brines, manufacturing of hard ferrite magnets and several other types of glasses and frit. Moreover, its applications also involve the manufacture of high refractive index glass beads which are used in safety stripping.
Highlights of the global barium carbonate market:
- Construction development is expected to be a major driving factor for the market growth.
- The majority of barium carbonate goes into the manufacture of glass.
- China accounts for the largest share of the total global barium carbonate production.
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The market is currently being driven by a number of growth inducing factors. Barium carbonate is extensively used in the manufacture of ceramic tiles. The increased use of these tiles for construction activities and restoration work in various developing countries is anticipated to drive the demand for barium carbonate. Moreover, increasing government expenditure on infrastructural development is further projected to escalate the growth of the barium carbonate market. Apart from this, the demand for other products made using barium carbonate such as glazes, frits, fluxes, bricks, standard glass, etc. is also expanding. As a result, the global barium carbonate market is further expected to grow, reaching a value of more than US$ 850 Billion by 2022.
On the basis of end-use, the majority of barium carbonate goes into the manufacture of glass. Other major end-use segments include brick and clay, barium ferrites, photographic paper coatings, etc. On the basis of region, China accounts for the largest share of the total global barium carbonate production, followed by Japan. Other major regions include Latin America, Middle East and Africa, and Europe. On assessing the competitive landscape of the market, the report finds that the major players are mainly based in China. Some of these players 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.
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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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