Barium Nitrate Market to be $3,451.8 Million Investment Opportunity in 2022

Fireworks really do light up the sky! No matter how elaborate they look, their basic chemistry is quite simple. All it takes to create the vivid colors is burning the salts of certain metals. One of the most widely used salts in fireworks and pyrotechnics is barium nitrate, denoted by the chemical formula Ba(NO3)2; it is the one which produces the green color. With the growing use of pyrotechnics at festivals, such as New Year's or Fourth of July, and at live entertainment events, such as sports or cultural shows, the consumption of the compound is continuously increasing.

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This is why, from $2,368.3 million in 2015, the barium nitrate market would grow to $3,451.8 million in 2022, at a 5.5% CAGR during the forecast period (2016-2022). Another important application of the salt is in the production of weapon materials, especially Thermate-TH3, wherein it is combined with thermite. Thermate-TH3 is the major constituent of incendiary grenades, which are meant to destroy stuff by starting a fire. Apart from such weapons, the salt is also used in the manufacturing of green flares, detonators, and tracer bullets. With growing political tension and terrorist incidents, countries across the world are increasing their investment in defense.

with the rising usage of fireworks, this application would continue creating the highest demand for barium nitrate throughout the forecast period.
Asia-Pacific (APAC) has been the largest user of the salt throughout the historical period, and the situation is predicted to be the same till 2022. The reason behind this is that the fireworks and electronics industries in regional countries, particularly China and India, are quite productive, which leads to heavy consumption of the compound. Within the region, the barium nitrate market growth in India would be the most rapid during the forecast period. Additionally, a large number of companies manufacturing the compound are concentrated in APAC, including in China, Japan, and India.

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Barium Nitrate Market Competitive Landscape

The intensity of rivalry in the barium nitrate market is expected to shift from low to medium during the forecast period. The market is currently highly consolidated in nature, with only limited number of large players and higher number of small players operating in the market. New players are expected to face a lot of competition, both in terms of matching the product quality, cost competitiveness and supply reliability.

Some of the major companies operating in the global barium nitrate market include Angene International Limited, Basstech International Llc, Hebei Xinji Chemical Group Co Ltd, Hummel Croton Inc., Jiaocheng Sanxi Chemical Co., Ltd., Sakai Chemical Industry Co. Ltd., SNDB, Solvay, Tennants Distribution Ltd, and Xilan Chemicals Co. Ltd.

GLOBAL BARIUM NITRATE MARKET SEGMENTATION
By End-User

Fireworks/Pyrotechnics
Glass/Ceramics
Others
By Region

North America
U.S.
Canada
Mexico
Europe
Germany
Russia
Rest of Europe
Asia-Pacific
China
India
Rest of Asia-Pacific
Rest of the World (RoW)
Brazil
Rest of RoW

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This release was published on openPR.