Barium Nitrate Market 2023: Basstech International (U.S), Solvay (Belgium), SAKAI CHEMICAL INDUSTRIES CO., LTD (JAPAN), Mil-Spec Industries Corp. (New York), Spectrum Chemical Manufacturing Corp. (U.S), Pro Chem, Inc. (Georgia)

Global Barium Nitrate Market by Application (pyrotechnics/fireworks, glass manufacturing, ceramics, tracer bullets, detonators, vacuum tube production, barium compounds production, and others) and by Region till 2023;
Barium nitrate is an inorganic salt of barium and nitrate ions. It is a colorless, odorless, and water-soluble solid compound. Barium nitrate is an oxidizing agent, which releases oxygen, barium oxide, and nitrogen dioxide when heated up to a temperature of 500-700ºC.

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The product occurs naturally in nitro barite and can be manufactured by two processes. The first process involves the reaction of barium carbonate with a nitric acid and then precipitating, evaporating, and filtering iron impurities. The second way to produce the compound is to heat sodium nitrate solution with barium chloride which results in barium nitrate crystals. It forms Thermate- TH3, military thermite grenades when mixed with thermite. When mixed with aluminum and zinc, it forms a flash powder, which is highly explosive. It is used as an oxidizer to produce fireworks and flares, especially green colored.

The global barium nitrate market is primarily driven by growing demand from major applications such as pyrotechnics/fireworks, glass manufacturing, ceramics, tracer bullets, detonators, and vacuum tube production, among others. The higher demand for fireworks during different festivities and occasions increasing the consumption of barium nitrate. Additionally, the increasing demand for manufacturing destructive explosives for hand grenades from military and defense sector is the major factor positively influencing the market growth of barium nitrate.

The use of barium nitrate in manufacturing of optical fiber is witnessing a significant growth due to the various beneficial properties it confers to end product such as improved refractive index, high quality, and low thermal expansion. The growing demand for barium nitrate in ceramic powder to produce capacitors, semiconductors, and superconductors is expected to bolster the global market growth further.

However, being a water-soluble compound, it can be absorbed by marine and aquatic animals, which adversely affects the aquatic food chain. The compound is highly toxic and causes skin and eye irritation, stomach flu, and others if ingested. This is anticipated to restrain the growth of the market during the assessment period.

Global Barium Nitrate Market Share, by Application (%)

Barium Nitrate Market Research Report - Forecast to 2023 -Report image 00

Regional Analysis

The global barium nitrate market is segmented into five key regions of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America holds a major share of the global barium nitrate market being a major manufacturer of barium nitrate. With major prominent manufacturing facilities present in the U.S, the regional market is likely to surge during the review period. The U.S. is one of the leading military powers in the world and is aspiring to enhance its defense capabilities in the coming years, which is expected to propel the growth of the market.

Europe is another major region in the global barium nitrate market. The growth of the market in this region is mainly attributed to the high investments in the defense sectors. Russia is the major contributor to the European market growth because of the above-mentioned reason.

The Asia Pacific is anticipated to be the fastest emerging region in the market of barium nitrate. Countries such as China, India, and Japan contribute to the regional market due to the increasing demands from pyrotechnics or fireworks.

The invention of fireworks in China dates back to 7th century and has come a long way since then, and is anticipated to retain the same growth during the years to follow. At present, China is the major manufacturer and exporter of fireworks, which is one of the prominent factors propelling the market growth in this regional market. The significant growth in electrical and electronics industries is another factor driving the market in this region.

Segmentation

The global barium nitrate market is segmented on the basis of its application and region.

Based on the application, the global market is segmented into explosives, glass manufacturing, ceramics, fireworks/pyrotechnics, tracer bullets, detonators, vacuum tube production, other barium compounds production, and others. The explosives segment holds a major share of the market due to the heavy military strengths in developed economies.

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Key Players

Some of the prominent manufacturers in the global market of barium nitrate are Basstech International (U.S), Solvay (Belgium), SAKAI CHEMICAL INDUSTRIES CO., LTD (JAPAN), Mil-Spec Industries Corp. (New York), Spectrum Chemical Manufacturing Corp. (U.S), Pro Chem, Inc. (Georgia), GFS Chemicals, Inc. (U.S), Aldon Chemicals (U.S), Barium & Chemicals, Inc (U.S), All-Chemie, Ltd. (U.S), Divjyot Chemicals Private Limited (India), Qingdao Jiaozi International Trade Co., Ltd (China), Hongkong Sheng Shi Jiao Zi Industrial Co., Ltd (China), Merck KGaA (Germany), and Jiaocheng Sanxi Chemical Co., Ltd (China).

Intended Audience

Barium nitrate Manufacturers
Traders and distributors of barium nitrate
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratory

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