Barium Carbonate Market to grow at a CAGR of 4.8%, reaching US$ 1 ,118.2 Mn by 2032

The global barium carbonate market is projected to expand at a firm 4.8% CAGR during the forecast period between 2022 and 2032 finds Future Market Insights (FMI) in a recent market analysis. Barium carbonate is an inorganic compound, which is usually white in color and insoluble in water. For Industrial usage, it is being manufactured from barium sulfide with the treatment of sodium carbonate, although it occurs naturally and is known as Witherite. It is one of the most important compounds of Barium.

Barium carbonate plays a vital role across diverse end-use industries such as construction, ceramics, electronics & others. In the manufacturing of tiles, bricks, and blocks it is used which is further utilized in the building & construction industry. The growing construction & building industry is expected to favor the growth of the barium carbonate market.

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Apart from this, electronics & ceramics industry also uses the barium carbonate up to a certain extent. It is used in television glass, special glass, magnets, electrodes, enamels, and others.

"Over the assessment period, sales of barium carbonate are expected to be driven by the growing construction & ceramics industry across the globe followed by demand from the oil & gas and electronics industries" says an FMI analyst.

Key Takeaways:
• The bricks & tiles segment is projected to hold approximately 34% of the total market share in 2022.
• The construction segment is anticipated to grow at 5.1% CAGR through 2032.
• East Asia will emerge as an attractive barium carbonate market and is expected to create an incremental dollar opportunity of US$365.2Mn in the forecast period.
• The ceramics segment will emerge as the leading end user and is expected to reach about US$317.0Mn by end of the forecast period.

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Competitive Landscape

Key market participants of the barium carbonate market elaborated in the report include SAKAI CHEMICAL INDUSTRY CO., LTD., SHAANXI ANKANG JIANGHUA GROUP CO., LTD, Chemical Products Corporation, Kandelium, Honeywell International Inc., Akshya Minerals & Chemicals, Nippon Chemical Industrial Co., Ltd, AG Chemi Group, Hubei Jingshan Chutian Barium Salt Corporation Ltd., Hebei Xinji Chemical Group Co. Ltd., Zaozhuang Yongli Chemicals Co., Ltd, Barium & Chemicals and others.

Market players are strengthening their footprint by expanding their production capacity. Barium carbonate is in high demand in a variety of end-use industries including construction, ceramics, and others.

Considering this, a few companies have acquired other players to broaden their reach. This will aid in the expansion of their product portfolio and global footprint.

For Instance:
• In November 2020, Latour Capital and Solvay entered into an agreement where, Latour acquired Solvay's barium & strontium, and sodium percarbonate business conducted by Solvay German, Spanish & Mexican Subsidiaries and Divisions. This acquisition will help Latour to accelerate its growth. This step is taken by Solvay to streamline its product portfolio and aligns with its G.R.O.W. strategy.

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More Insights into the Global Barium Carbonate Market Report

In its latest report, FMI offers an unbiased analysis of the Global Barium Carbonate market, providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on product form (granular, powder & ultra-fine), by application (bricks & tiles, specialty glass, glazes, enamel, electro ceramic, and others), by end-use industry (construction, ceramics, oil & gas, electronics, and others) & by region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.