Barium Carbonate Market to Witness Exponential Growth by 2025
Barium
carbonate (BaCO3), also called witherite, is a dense white colored
chemical compound. It is largely employed in the manufacture of
photographic paper coatings, special glass, cement, ceramic glazes,
etc. It is used as a vital raw material in the production of magnetic
materials, optical glass, fireworks, and funnels owing to its
insoluble properties. It is also soluble in most acids and acts as a
matting, flux, and crystallizing agent in different applications.
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Demand
for barium carbonate, manufactured using natural barium sulfate along
with carbon dioxide, is high in the glass industry. Barium carbonate
provides luster and increases the refractive index of the glass. It
is largely used in the production of glass, as it mixes easily with
coloring oxides and helps in formation of unique colors that may not
be achieved using other materials. Increase in demand for barium
carbonate in the glass industry is one of the major factors expected
to drive the barium carbonate market during the forecast period. Its
usage in cathode ray tubes, borosilicate glass, and glass filters is
also anticipated to boost the market across the world.
Based
on end-use industry, the barium carbonate market can be segmented
into glass, brick & clay, barium ferrites, and photographic paper
coatings. Among these, glass accounts for significant share of the
barium carbonate market. Barium carbonate is widely used as an
ingredient to glaze tiles in the ceramics industry. Rise in
construction activities and increase in usage of tiles instead of
concrete floors and walls are key factors augmenting the barium
carbonate market.
The
barium carbonate market has also been expanding led by the growth in
government expenditure on infrastructure development. Additionally,
it’s excellent glazing properties makes the compound a suitable
choice in the production of glassware. Improvement in standard of
living and growth in disposable income are also influencing the
demand for glassware, especially in emerging regions. This couple
with increase in production of fluxes, frits and enamels, standard
glass, television glass, electrodes, paper, rubber, and paints is
propelling the demand for barium carbonate.
In
terms of geography, the market can be segmented into North America,
Europe, Asia Pacific, Middle East & Africa, and Latin America.
Asia Pacific is projected to be a rapidly growing region of the
barium carbonate market due to the constant increase in demand for
the compound in the glass industry. Globally, China is estimated to
dominate the overall market, accounting for more than three-fourth
share of the global production during the forecast period. Asia
Pacific is likely to be trailed by Latin America, Middle East and
Africa, and Europe.
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Key
players operating in the barium carbonate market include Qingdao Red
Star Chemical Import and Export, Hebei Xinji Chemical Group Co. Ltd.,
Solvay & CPC Barium Strontium GmbH & Co., Osram Sylvania
Products Inc., and Sakai Chemical Industry Co. Ltd.
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