Press release
Barium Sulfate Market: Competitive Dynamics & Global Outlook 2023
Barium sulfate with the chemical formula BaSO. It is a white crystalline solid that is odorless and. It occurs as the mineral, which is the main commercial source of and materials.
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Global Barium Sulfate Market: Forecast by Type / Application / Region
The growth of the market is majorly attributed to the rapid development of the paints and coating industry of household car and electric vehicle, as well as the growing demand from small- and medium-scale enterprises in developing countries.
The China market is expected to grow at the highest CAGR between 2016 and 2022. China is expected to be the next largest consumer of the barium sulfate market. Increase in the industrial growth coupled with the civil constructions in China is expected to boost the consumption of barium Sulfate in Asia Pacific. The growing automobile industry in Asia Pacific is expected to boost the overall demand for paints and coating which in turn is expected to drive the growth of the barium Sulfate market in this region.
Some of the barium sulfate manufactured is consumed as a component of the oil well drilling fluid. Barium Sulfate is mainly used to increase the density of the fluids. Thus, the growing demand for highly purified fluids has boosted the overall growth of the barium sulfate market. Barium sulfate is widely used in the paints and coating industry. Barium Sulfate is widely used as a component for white Plastic Industry that is used in paints industry. Barium sulfate is transparent in nature and thus, it is used as filler or to modify the consistency of the paints. Thus, the growing automobile industry is expected to boost the overall growth of the paints and coatings industry which in turn is expected to boost the global demand for the barium Sulfate market. Growing construction industry is also expected to contribute to augment the overall growth of the barium Sulfate market. Barium Sulfate is widely used as plastic filler during the manufacturing of polypropylene and polystyrene.
Over the next five years, LPI(LP Information) projects that Barium Sulfate will register a 4.7% CAGR in terms of revenue, reach US$ 620 million by 2023, from US$ 490 million in 2017.
Global Barium Sulfate Market: Key Players
Shenzhou Jiaxin Chemical
Sachtleben Chemie GmbH
Redstar
Shanxi Fuhua Chem
Long Fu Group
Onmillion Nano Material
Xingtang Xuri Chemical
Hoten
Lianzhuang Technology
Cimbar
Sakai Chem
Solvay
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Related Information:
United States Barium Sulfate Market Research Report 2018
Europe Barium Sulfate Market Research Report 2018
North America Barium Sulfate Market Research Report 2018
Asia-Pacific Barium Sulfate Market Research Report 2018
China Barium Sulfate Market Research Report 2018
EMEA Barium Sulfate Market Research Report 2018
Global Barium Sulfate Market Research Report 2018
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