Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global barium carbonate market size reached US$ 617.8 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 911.6 Million by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2023-2028.

Barium carbonate (BaCO3) is a white solid sourced from the precipitation of barium hydroxide and urea. It is also obtained from mineral barite or barium chloride. Barium carbonate is water-insoluble, tasteless, odorless, dense and extremely toxic in nature. It is utilized in the production of various commercial products, which include rubber, paints, enamels, ceramics, oil drilling, glass, and bricks. Specialty glass made using barium carbonate provides radiation shielding in CRT televisions. It is also used in making bricks, clays, photographic paper coatings, hard ferrite magnets, permanent ceramic magnets for loudspeakers and in the removal of sulphate from salt brines before they are fed into electrolytic cells. Besides this, the high toxicity of barium carbonate makes it an ideal solution in the formulation of rodenticides.

Barium Carbonate Market Trends:

Rapid expansion in the construction and real estate industries is primarily driving the global barium carbonate market toward growth. Besides this, governments of various nations have been focusing on infrastructural development, which is escalating the demand for bricks and ceramic tiles. The market growth is further supported by significantly increasing urbanization and disposable incomes, particularly in developing countries, which has led to the inflating sales of premium-quality decorative items, such as vases, glass paintings, and ceramic figurines. Moreover, the electro-ceramics industry has been witnessing significant growth, wherein barium carbonate is utilized in the production of several components, such as piezoelectric transducers, electromechanical devices, sensors, and optical modulators. Furthermore, the implementation of stringent regulations to control environmental degradation caused by the industrial sector has prompted key players to adopt eco-friendly processes for producing barium carbonate, such as using methane as the reducing agent, which is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global barium carbonate market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on end use.

Breakup by End Use:

Glass
Brick and Clay
Barium Ferrites
Photographic Paper Coatings
Others

At present, barium carbonate is most widely used in brick and clay production across the globe.

Regional Insights:

China
Japan
Latin America
Middle East and Africa
Europe
Others

At the regional level, China exhibits a clear dominance in the market, accounting for majority of the total global market.

Competitive Landscape:

The competitive landscape of the industry has also been examined, along with the profiles of the key players. Some of these players include Solvay S.A., Chemical Products Corporation, Hubei Jingshan Chutian Barium Salt Corporation Ltd., Guizhou Red Star Development Import and Export Co. Ltd., Sakai Chemical Industry Co. Ltd., Hebei Xinji Chemical Group Co. Ltd., Shhanxi Ankang Jianghua Group Co. Ltd., Zaozhuang City Yongli Chemical Co., Ltd., etc.

Key Questions Answered in This Report:

What was the size of the global barium carbonate market in 2022?
What is the expected growth rate of the global barium carbonate market during 2023-2028?
What are the key factors driving the global barium carbonate market?
What has been the impact of COVID-19 on the global barium carbonate market?
What is the breakup of the global barium carbonate market based on the end-use?
What are the key regions in the global barium carbonate market?
Who are the key players/companies in the global barium carbonate market?