Press release
Asia-Pacific Barium Nitrate Market Is Expected To Grow At A CAGR Of 6.5% From 2016 To 2024
Variant Market Reserach
Rising Demand For Ceramic Powder Will Drive The Global Barium Nitrate Market
Key drivers of the global barium nitrate market are increasing demand from the fireworks/pyrotechnics industry accompanied by their increasing use in military applications across the globe. However, toxic nature of barium nitrate is the major hindrance for the barium nitrate market growth. Moreover, expanding glass industry, rising demand for ceramic powder used for manufacturing of semiconductor devices and passive electronic components such as capacitors is further expected to generate growth opportunities for the market in the forecast period.
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Market Segmentations
The global barium nitrate market has been categorized into end-users, and geography. By end-users the market is further classified into fireworks/pyrotechnics, glass/ceramics, and other end-users. Based on geography, the global barium nitrate market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America covers United States, Canada, and Mexico.
Fireworks/Pyrotechnics held the highest market share
Fireworks/Pyrotechnics dominated major barium nitrate market share in the end-user’s segment and is expected to continue its dominance during the forecast period i.e. 2016 – 2024, driven by their capability of undergoing self-contained & self- sustained exothermic chemical reactions for the production of light, heat, gas, and smoke.
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Asia-Pacific accounted the largest market share
Asia-Pacific generated the largest revenue accounting for 39.3% in the year 2016, owing to increasing demand from fireworks/pyrotechnics segment and growth in electronic industry. Also, in terms of growth, Asia-pacific is expected to achieve the fastest CAGR of 6.5%, during the forecast period i.e. 2016 – 2024. Countries such as Singapore, Australia, and Malaysia, among other are witnessing the significant demand of barium nitrate.
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Competitive Landscape
The key companies operating in the global barium nitrate market are Basstech International LLC, Barium Chemicals Co. Ltd., San Yuan Chemical Co. Ltd., Angene International Limited, Sigma Aldrich Corporation, Solvay S. A., Degussa AG, Tennants Distribution Ltd., Sakai Chemical Industry Co. Ltd., and Jiaocheng Sanxi Chemical Co., Ltd among others.
Scope of Barium Nitrate Market
End-user segments
• Fireworks/Pyrotechnics
• Glass/Ceramics
• Other End-Users
Geographical Segments
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Russia
o Rest of Europe
• Asia Pacific
o China
o India
o Rest of Asia-Pacific
• RoW
o South America
o Africa
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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