Barium Nitrate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3983
Barium Nitrate Market size is projected to register substantial gains from 2019 to 2025 owing to its extensive applications in the explosive industry. It is extensively utilized as an oxidiser to produce green fireworks. It is also used to manufacture explosive known as “Baratol” which consists of TNT, barium nitrate and a binder. Increasing demand for explosives in defence and military industry is anticipated to drive barium nitrate market demand over the forecast period.
Barium nitrate is a crystalline, inorganic salt of nitrate and barium ions. It is odourless and water soluble and exists as white crystal at room temperature. It is produced synthetically using one of two processes. The first process involves heating the solution of sodium nitrate with barium chloride to obtain barium nitrate crystals. The second process includes dissolving knobs of barium carbonate in nitric acid and then letting the impurities of iron to precipitate followed by filtration, evaporation and crystallization.
Barium nitrate market from glass manufacturing application to observe significant growth in the estimated timeframe. It is utilized as a plaining agent to produce optical and special glasses in combination with arsenic and metal nitrate. Rising prevalence pf visual deficiencies specially among aging population is likely to propel the demand for optical glasses for eyewear which will boost product demand. Moreover, growing construction activities supported by increase in foreign investments along with infrastructure spending mainly in India and China will favour glass demand used in buildings and homes thereby promoting industry growth.
Barium nitrate market size from ceramics application may witness steady gains on account of growing product usage in combination with ceramic powder to manufacture semi-conductors, capacitors and super-conductors. These conductors and capacitors are widely used in electronics, automotive, and aviation industry. Rise in new and high-end technology adoption supported by increase in purchase ability is likely to propel electronics and automobile demand, thereby promoting industry growth.
Global pyrotechnics and explosives market may surpass USD 30 billion by 2025 owing to rising product demand in mining and construction activities. Increasing number of projects for infrastructure development is anticipated to drive the demand for explosives used as a blasting agent. Moreover, growing demand for fireworks specially during various occasion and festivities is estimated to increase the consumption of barium nitrate in pyrotechnics, thus driving its barium nitrate market demand.
Rising concerns regarding disposal of these compound supported by stringent environment policies may hamper industry growth. Barium nitrate is water soluble an if not disposed properly may harm aquatic life and environment which may act as major restricting factor towards industry growth, thus affecting barium nitrate market profitability.
North America, led by Mexico, Canada and the U.S. barium nitrate market size, is anticipated to rise significantly in the projected time period. The U.S. has the largest defence budget in the world with over USD 586 billion in 2017. Geopolitical tensions in the region are likely to intensify the demand for military equipment’s and explosives, thus propelling regional product demand.
Europe, driven by UK, Spain, Italy, France and Germany barium nitrate market may observe steady gains due to rising automotive industry supported by innovative product launch and favourable regulatory environment. European automotive industry represents 7% of the total GDP of the region. According to estimates approximately 19.2 million trucks, cars, vans and buses are manufactured in Europe annually, which is likely to register strong demand for semiconductors and thus driving market growth.
Asia pacific, led by Australia, South Korea, Japan, China and India barium nitrate market is anticipated to experience significant growth in electronics industry. Electronics industry in India is one of the largest markets worldwide and is estimated to reach 228 billion by 2020. Technological advancement including rollout of 4G/LTE networks and IOT have bolster the adoption of electronics products in the region. Moreover, government initiatives including Digital India and Smart City projects will boost electronics manufacturing in India which is anticipated to drive demand for electronics product and thereby driving market demand over the forecast period.
Global barium nitrate market share is moderately fragmented. The key players operating in the market includes Solvay S.A., Barium Chemicals Co. Ltd., Sigma Aldrich Corporation, Nippon Chemical Industries, Merck KGaA, Sakai Chemical Industry Co. Ltd., Basstech International LLC., Degussa AG, Angene International Limited.
Companies are majorly focusing on increasing production capacities to cater worldwide product demand. Initiatives along with competitive pricing may support increase in market share over projected time frame.
Barium Nitrate Market, By Application, 2014-2025 (Tons) (USD Million)
- Glass/ Ceramics Manufacturing
- Tracer Bullets
- Vacuum Tube Manufacturing
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Solvay S.A.
- Barium Chemicals Co. Ltd.
- Sigma Aldrich Corporation
- Nippon Chemical Industries
- Merck KGaA
- Sakai Chemical Industry Co. Ltd.
- Basstech International LLC.
- Degussa AG
- Angene International Limited
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