Barium Carbonate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Barium Carbonate Market Analysis
The Barium Carbonate Market is projected to register a CAGR of over 7.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, construction activities were temporarily halted during the government-imposed lockdown. Thus, this led to a decrease in the consumption of barium carbonate, which was used to produce tiles, matt glazes, bricks, and other components in the construction sector, thereby witnessing a declining market growth rate. However, the condition recovered in 2021, which was expected to benefit the market during the forecast period.
- Over the short term, the growing application of barium carbonate in the ceramic and construction industries is expected to drive the market's growth.
- However, the toxic nature of barium carbonate and stringent regulations implemented by several governments in developed countries on the usage of barium carbonate are likely to hinder the growth of the studied market.
- The research and development on the application of barium carbonate to separate and purify Cesium-131 for radiation therapy will likely provide opportunities for the barium carbonate market over the forecast period.
- The Asia-Pacific region dominates the barium carbonate market, owing to growing application in the construction and ceramic sectors in the countries like China, India, and others.
Barium Carbonate Market Trends
Construction Industry to Dominate the Market
- The construction industry is the dominating segment, owing to the escalation in infrastructure projects in Asia-Pacific and North American regions.
- Barium carbonate is used in bricks and tiles to prevent scumming. As bricks and tiles are extensively used in the construction industry, the consumption of barium carbonate is also expected to increase with growing construction activities.
- According to the Institution of Civil Engineers, China, India, and the United States are expected to account for almost 60% of all global growth in the construction sector by 2025, thus increasing the market growth of barium carbonate in the industry.
- The United States was among the top construction markets globally. As per the United States Census Bureau, in 2021, construction in the United States was valued at USD 1.58 trillion, accounting for around 4.3% of the country's total GDP.
- According to the US Census Bureau, the total privately owned housing units authorized by building permits in December 2021 were 1,873,000, 9.1% more than the revised rate of 1,717,000 in November. In 2021, an estimated 1,724,700 housing units were authorized by building permits, 17.2% more than 1,471,100 in the previous year.
- Barium carbonate is also used in oil-well drilling, glass, and photographic industries. In 2021, the global oil production was 4.2 billion metric tonnes, and the daily oil demand was 96.5 million barrels per day.
- Therefore, the above factors are expected to impact the market in the coming years significantly.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region stands to be the largest and fastest-growing market for barium carbonate. Consumption of barium carbonate in bricks and tiles from construction and refurbishment activities drives the market growth.
- Asia-Pacific countries, such as China, India, and Vietnam, have been registering strong growth in construction activities, which is expected to drive the consumption of barium carbonate in the region over the forecast period.
- As per the U.S. International Trade Administration, China is the world's largest construction market and is forecasted to grow at an annual average rate of 8.6% till 2030. According to National Development and Reform Commission (NDRC), China is investing USD 1.43 trillion in major construction projects in the next five years, 2025. The Shanghai plan includes an investment of USD 38.7 billion in the next three years, whereas Guangzhou signed 16 new infrastructure projects with an investment of USD 8.09 billion.
- In India, the construction development sector and activities stood at USD 26.08 billion and USD 24.72 billion, respectively, in March 2021. In 2022, India contributed about USD 640 billion to the construction industry due to government initiatives in infrastructure development and affordable housing, such as housing to all, smart city plans, etc. The growing construction activities in the country are driving the demand for silicones, which, in turn, may drive the chloromethane market over the forecast period.
- In Indonesia, under the National Medium-term Development Plan (RPJMN 2020-2024), the government plans to invest USD 412 billion in the development of transport, industrial, energy, and housing infrastructure projects in the country, which may help boost the barium carbonate market.
- The Japanese construction industry is expected to bloom, owing to the events hosted in the country. In 2021, Tokyo hosted the Olympics, and World Expo is to be held in Osaka in 2025, due to which there will be immense growth in the infrastructure development in the country.
- According to the Ministry of Finance of Japan, the construction industry in Japan generated sales of approximately USD 1.22 trillion in the fiscal year 2021, registering an increase of 2.1% compared to the same period last year.
- In Indonesia, as per Statistics Indonesia (BPS), in the year 2021, the GDP of the construction sector in the country was USD 0.177 trillion. Furthermore, as per the data by World Cement, the Indonesian construction market recorded a growth of 7.2% in 2022.
- The construction-related activities among the companies help in boosting the construction sector. For instance, In December 2022, Siam Cement BigBloc Construction Technologies, a joint venture between BigBloc Construction Limited and SCG INTERNATIONAL INDIA PVT LTD, successfully acquired land in Gujarat, India, for setting up a factory to produce AAC Blocks and Panels with an annual production capacity of 300,000 cubic meters which is expected to commence by the year 2023.
- Barium carbonate consumption witnesses rapid growth due to increasing consumption in major end-user segments such as semiconductors, glass, papermaking, dyestuff, rubber, plastic, oil refining, metal heat processing, etc.
- Barium carbonate is used as raw material for barium titanate, which is further used in the production of the multi-layer ceramic capacitor (MLCC) and composite oxides, or as a raw material for positive temperature coefficient (PTC) thermistors, optical glass, and sputter glass for semiconductors.
- The electrical and electronics industry is one of the world's leading industries. Consumer electronics account for one-third of the Japanese economic output. The country is a world leader in Japan's production of computers, gaming stations, cell phones, and other key computer components.
- According to JEITA (Japan Electronics and Information Technology Industries Association), in November 2022, the total production of the electronics industry reached USD 7,098.34 million. In December 2022, Japan exported electronics worth USD 8,395.45 million.
- Therefore, the above factors are expected to impact the market in the coming years significantly.
Barium Carbonate Industry Overview
The Barium Carbonate Market is highly fragmented in nature, with a large number of small players operating in the market. Some of the prominent players in the market include Solvay, SAKAI CHEMICAL INDUSTRY CO., LTD, Honeywell International Inc., Chemical Products Corporation, and SHAANXI ANKANG JIANGHUA GROUP CO. LTD, among others.
Barium Carbonate Market Leaders
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SAKAI CHEMICAL INDUSTRY CO.,LTD.
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SHAANXI ANKANG JIANGHUA GROUP CO., LTD.
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Chemical Products Corporation
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Solvay
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Honeywell International Inc
*Disclaimer: Major Players sorted in no particular order
Barium Carbonate Market News
- October 2022: The Indian Finance Ministry eliminated the existing anti-dumping tariff on Chinese imports of Barium Carbonate, an inorganic chemical in the form of white powder or granules. The tax department's action came more than a month after the Directorate General of Trade Remedies (DGTR) advised the "rapid cessation" of anti-dumping duties on Chinese imports of barium carbonate.
Barium Carbonate Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Construction Industry
4.1.2 Increasing Demand from the Ceramic Industry
4.2 Restraints
4.2.1 Toxic Nature of Barium Carbonate
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrant
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Form
5.1.1 Granular
5.1.2 Powder
5.1.3 Ultra fine
5.1.4 Other Forms
5.2 Application
5.2.1 Bricks and Tiles
5.2.2 Speciality Glass
5.2.3 Glazes
5.2.4 Electro Ceramic
5.2.5 Enamel
5.2.6 Other Applications
5.3 End-user Industry
5.3.1 Construction
5.3.2 Oil and Gas
5.3.3 Ceramic
5.3.4 Electronics
5.3.5 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AG CHEMI GROUP s.r.o.
6.4.2 Akshya Chemicals Pvt Ltd
6.4.3 Chemical Products Corporation
6.4.4 Honeywell International Inc.
6.4.5 Latour Capital
6.4.6 Nippon Chemical Industrial Co. Ltd
6.4.7 PVS Chemicals
6.4.8 SAKAI CHEMICAL INDUSTRY CO. LTD
6.4.9 SHAANXI ANKANG JIANGHUA GROUP CO. LTD
6.4.10 Solvay
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Research and Development on the Use of Barium to Separate Cesium-131 for Radiation Therapy
7.2 Other Opportunities
Barium Carbonate Industry Segmentation
Barium carbonate is a white solid inorganic compound with the chemical formula BaCO3. It can be manufactured through the soda ash process in which an aqueous solution of barium sulfide is treated with sodium carbonate to get barium carbonate as a major product.
The Barium Carbonate Market is segmented by product, application, end-user industry, and geography. By product, the market is segmented into granular, powder, ultrafine, and other products. By application, the market is segmented into bricks and tiles, specialty glass, glazes, electro ceramic, enamel, and other applications. By end-user industry, the market is segmented into construction, oil and gas, ceramic, electrical and electronics, and other end-user industries. The report also covers the market size and forecasts for the barium carbonate market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Form | |
| Granular | |
| Powder | |
| Ultra fine | |
| Other Forms |
| Application | |
| Bricks and Tiles | |
| Speciality Glass | |
| Glazes | |
| Electro Ceramic | |
| Enamel | |
| Other Applications |
| End-user Industry | |
| Construction | |
| Oil and Gas | |
| Ceramic | |
| Electronics | |
| Other End-user Industries |
| Geography | |||||||
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Barium Carbonate Market Research FAQs
What is the current Barium Carbonate Market size?
The Barium Carbonate Market is projected to register a CAGR of greater than 7.5% during the forecast period (2024-2029)
Who are the key players in Barium Carbonate Market?
SAKAI CHEMICAL INDUSTRY CO.,LTD., SHAANXI ANKANG JIANGHUA GROUP CO., LTD., Chemical Products Corporation, Solvay and Honeywell International Inc are the major companies operating in the Barium Carbonate Market.
Which is the fastest growing region in Barium Carbonate Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Barium Carbonate Market?
In 2024, the Asia Pacific accounts for the largest market share in Barium Carbonate Market.
What years does this Barium Carbonate Market cover?
The report covers the Barium Carbonate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Barium Carbonate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Barium Carbonate Industry Report
Statistics for the 2024 Barium Carbonate market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Barium Carbonate analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
