The global barium carbonate market is expected to grow at a CAGR of more than 4% from 2017-2021, according to a new market research report by Technavio.
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Technavio has published a new market research report on the global barium carbonate market from 2017-2021. (Graphic: Business Wire)
Global barium carbonate market segmentation by application and geography
Technavio's report on the global barium carbonate market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, which includes ceramic glass; tiles, bricks, and clay; and barium ferrite. The ceramic glass segment dominated the market in 2016 with more than 282 metric tons.
Based on geography, the global barium carbonate market has been segmented into APAC, the Americas, and EMEA. In 2016, APAC accounted for the highest market share due to various factors such as rising population, increasing disposable income, and growing construction industry that are driving the market in the region.
"The construction and real estate industries have witnessed significant growth in China and India. The rising preference for luxury living has increased the demand for ceramic tiles, which has fueled the demand for barium carbonate. Inexpensive labor and easy availability of raw materials have led companies that specialize in ceramic tiles and glass to set up their manufacturing plants in countries such as China and India," says Mohd Shakeel Iqbal, a lead analyst at Technavio for metals and minerals research.
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Barium carbonate market: competitive vendor landscape
The global barium carbonate market is characterized by the presence of numerous vendors. Simple manufacturing process and availability of inexpensive raw materials have led to the emergence of small players and start-ups in this market. Increasing number of applications involving barium carbonate will attract new vendors during the forecast period. Hengyang Wanfeng Chemical, Honeywell International, SAKAI CHEMICAL INDUSTRY, Shaanxi Ankang Jiang Hua Group, and Solvay are the key vendors in the market.
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Other topics covered in the report:
Market drivers:
- Rising demand for barium carbonate from glass industry
- High consumption of barium carbonate in construction industry
Market challenges:
- Stringent anti-dumping policies
- Threat from substitute products
Market trends:
- Increasing use of barium carbonate in radiation shielding
- Rising use of barium carbonate in ceramic tiles
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