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Global Barium Carbonate Market Anticipated to Cross US$ 861 Billion by 2024 – IMARC Group

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Global Barium Carbonate Market Anticipated to Cross US$ 861 Billion by 2024 – IMARC Group

January 31
23:40 2019

Global Barium Carbonate Market Triggered by Growing Construction Sector – IMARC Group
The global barium carbonate market has witnessed strong growth over the past few years. Due to the favorable properties of barium carbonate, it is extensively used in the production of tiles and glass products which are further employed in various industries.

According to a new research report by IMARC Group, titled “Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global barium carbonate market was worth US$ 504 Billion in 2018, growing at a CAGR of nearly 7% during 2011-2018. Barium carbonate is a dense, tasteless and odorless white-colored powder with the chemical formula BaCO3. Naturally found in the mineral witherite, it is thermally stable and does not readily disassociate. Barium carbonate can also be manufactured from barium chloride or mineral barite, and is commercially available in granular, powder and high-purity forms. Although insoluble in water, barium carbonate is soluble in most acids, with the exception of sulfuric acid. Due to its chemical properties, barium carbonate finds application in the manufacturing of bricks, glass, ceramics, tiles and several chemicals.

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Market Trends:

Barium carbonate is widely used for glazing ceramic tiles as it acts as a crystallizing and matting agent and synthesizes unique colors when combined with specific coloring oxides. A rise in construction activities across the world has increased the usage of tiles, thereby stimulating the market growth. In addition to this, barium carbonate increases the luster and refractive index of glass. Therefore, it is utilized in the production of cathode ray tubes, glass filters, optical glass and borosilicate glass. Several other factors that are contributing to the growth of the barium carbonate market include rising population, inflating disposable incomes, and increasing government expenditure on infrastructural activities. Looking forward, the market value is anticipated to cross US$ 861 Billion by 2024, at a projected CAGR of more than 9% over the forecast period.

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Global Barium Carbonate Market Summary:

Market by End-Use

1. Glass
2. Brick and Clay
3. Barium Ferrites
4. Photographic Paper Coatings
5. Others

On the basis of end-uses, the market has been divided into glass, barium ferrites, brick and clay, and photographic paper coatings. Amongst these, glass represents the largest end-use segment of barium carbonate. As barium carbonate increases the refraction and scratch resistivity of the glass, it is used for manufacturing optical glass, cathode rays, etc.

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Performance of Key Regions

1. China
2. Japan
3. Latin America
4. Middle East and Africa
5. Europe
6. Others

On a geographical front, China is the leading market for barium carbonate, accounting for the majority of the total market share. A rise in the construction activities is increasing the consumption of ceramic tiles and glass in the region, thereby contributing to the market growth. Other major regions include Japan, Europe, Latin America, and Middle East and Africa.

Competitive Landscape

The competitive landscape of the market has been analyzed with the detailed profiles of the key players operating in the barium carbonate industry.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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