Barium Nitrate Market Size is set to reflect a considerable expansion rate during 2022-2028. The emerging demand for the product in the manufacturing of pyrotechnics like primers, detonators, tracer bullets, etc., for green fire and its increasing use as a propellent and blowing agent, are likely to support the industry progression in the coming years.
Barium nitrate is an organic compound and an oxidizing agent that burns with a green flame and may cause an explosion when exposed to heat or fire. While it is a non-combustible compound, it can speed up the burning process in combustible elements. The growing application of the product in the production process of barium oxide and its associated products, ceramic glazes, rodenticides, paints, explosives, green signal lights will fuel the growth trends in the barium nitrate industry.
Moreover, proliferating vacuum tube industry and an upsurge in demand for explosives in the military and defense sector will further contribute to the development of the barium nitrate market.
With respect to the product application, the glass and ceramic manufacturing segment may register decent progression in the future.
The expansion is driven by the extensive use of barium nitrate in the manufacturing of high-quality glass products and optical glass. Barium nitrate enhances the refractive index of glass in products like camera lenses. Furthermore, the oxygen component in barium nitrate keeps the glass clearer and free of discoloration for a long time.
Increasing advancement in the ceramics industry leading to new product innovations is expected to push the product demand in the foreseeable future. Apart from the traditional use of ceramics in pottery, bricks, and glass making, the product is extensively used in manufacturing catalytic converters in cars, superconductors in computers, and filtering soot for diesel engines and may change the barium nitrate industry outlook in the years ahead.
The barium nitrate market is projected to drive lucrative growth opportunities in the global pyrotechnics and explosives market. The growing advancement in pyrotechnics leading to the increasing demand for colorful explosives during weddings, festivals, and other auspicious occasions will support the segment growth in the coming years. In addition, the proliferating requirement for pyrotechnics in the defense industry is likely to propel industry growth over the projected timeframe.
North America may emerge as an eminent growth driver in the regional segment. The increasing military investment and defense expenditure coupled with the presence of giant manufacturing firms in the region will foster the demand for barium nitrate over the forecast timeframe.
Some of the prominent players of the barium nitrate industry include Barium Chemicals Co. Ltd., Solvay S.A., Sigma Aldrich Corporation, Merck KGaANippon Chemical Industries, Sakai Chemical Industry Co. Ltd., Degussa AG, Angene International Limited, and Basstech International LLC. These industry players are adopting strategies like partnerships, new product innovations, mergers, and acquisitions to safeguard their market position and strengthen their existing customer base.
The pandemic severely affected major industries and economies last year, barium nitrate market being no exception. The implementation of nationwide lockdowns led to the shutting down of factories and enterprises and caused disruptions in the transportation of raw materials. It impacted the overall production and supply chain management of goods and services all across the world. Moreover, pyrotechnics like crackers and explosives were banned in several economies to aid the COVID patients suffering from breathing issues.
However, with the decreased number of COVID-19 cases, increased vaccinations, and end of lockdown restrictions, the market is set to recover shortly and exhibit a considerable growth rate in the forthcoming years.