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Detailed examination of the Global Barium Nitrate Market Growth and Forecast to 2022 | Leading Key Players are Degussa AG, Solvay S. A., Sakai Chemical Industry Co. Ltd., Barium Chemicals Co. Ltd., Sigma Aldrich Corporation, San Yuan Chemical Co. Ltd., Hu
Barium nitrate is a salt composed of barium and nitrate ions. Barium nitrate exists as white crystals at room temperature and is odorless. Barium nitrate is soluble in water and slightly soluble in ethanol and acetone. It can occur naturally as nitrobarite. Barium nitrate can be made synthetically by two methods. In the first process, the heated solution of sodium nitrate is combined with barium chloride, which results in the separation of the barium nitrate crystals from the mixture. The second process requires the dissolution of small pieces of barium carbonate in nitric acid, allowing the iron impurities to precipitate, then filtered, evaporated and crystallized. Barium nitrate can be toxic to humans if it comes into contact by inhalation or ingestion. Barium nitrate in contact may cause skin irritation, eye irritation, gastroenteritis, muscle spasms, slow pulse and irritation of the respiratory system. The type and severity of symptoms vary depending on the amount of barium nitrate involved and the nature of the exposure.
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Drivers and Restraints:
The increase in the number of barium nitrate applications in the explosives industry is an important factor for the growth of the barium nitrate market. Barium nitrate is soluble in water and can be found in lakes, rivers and streams. Because of its solubility in water, barium nitrate can spread over large distances. Fish and other aquatic organisms can absorb this barium nitrate that accumulates in their bodies and eventually enters the food chain. Therefore, barium nitrate can be harmful to the environment and other living organisms. This may be a limiting factor for the growth of the barium nitrate market.
Geographic Segmentation:
Based on geography, Global Barium Nitrate Market is segmented into regions such as North America, Latin America, Europe, Middle East and Africa, and Asia Pacific. Countries like the United States, China, Russia, Japan and India are investing heavily in the defence sector of their country. Finally, the consumption of barium nitrate, which is widely preferred in the production of various explosives, is higher in these countries. The Asia Pacific region is expected to be the fastest growing market for barium nitrate in the next five years. The main reason is the growing market demand for barium nitrate in countries such as China, India and Japan. The Asia-Pacific market is followed closely by the North American and European markets.
Key Players in Global Barium Nitrate Market:
Major players actively participating in Global Barium Nitrate Market include Degussa AG, Solvay S. A., Sakai Chemical Industry Co. Ltd., Barium Chemicals Co. Ltd., Sigma Aldrich Corporation, San Yuan Chemical Co. Ltd., Hummel Corporation, and Angene International Limited among others.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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