The global barium carbonate market is expected to witness considerable growth over the forecast period on account of its increasing use in manufacturing ceramic tiles and cement. Construction development in various countries, including India, China, Brazil, and the U.S., is expected to be a key factor driving the market over the next few years.
Barium carbonate is primarily employed in manufacturing standard glass, glazes, brick, and tile industry. Increasing use of these products in the construction industry is expected to have a positive impact on the market growth over the next few years. The demand for wall and floor tiles is rising in light of increase in new construction and refurbishment work. Growth and development of the construction industry and increasing government expenditure on infrastructural development are expected to drive the barium carbonate market over the forecast period. This, in turn, will augment barium carbonate demand over the next few years. However, prevalence of stringent regulations in developed countries on account of high toxicity of the product is expected to restrain market growth over the forecast period.
Ceramics is the largest end-use segment for the product accounting for over 35% share. Rising use of the product in manufacturing ceramic glaze, frits, and fluxes will propel demand over the next few years.
The product is primarily manufactured using barium sulfide, which is treated with sodium carbonate. Its demand largely depends on need from various end-use industries, including ceramic, chemical, and glass. Growth in these markets is expected to augment barium carbonate demand over the next few years.
Ceramic tiles are expected to be the fastest-growing application segment for the barium carbonate industry on account of matting and crystallization properties. Replacement of marble floors, paints metal slabs, and other home decorative products with ceramic tiles are expected to fuel growth over the next seven years. This, in turn, will positively impact demand for barium carbonate over the forecast period.
Currently, ceramic tiles have become a trend in the construction and real estate industry as they are considered a status symbol and lifestyle product. Rapid urbanization, rising disposable income, and growing population are expected to be the key drivers for the market, which, in turn, will propel barium carbonate growth over the next few years.
In the tile, brick, pottery, and earthenware industry, clay is added to the product in order to precipitate soluble salts, such as magnesium sulfate and calcium sulfate that cause efflorescence. Increasing brick demand from the construction industry is expected to propel growth of the products over the forecast period.
Asia Pacific held the largest share in the barium carbonate market in 2014 and accounted for more than half of total consumption. Increasing construction in countries such as China and India is expected to augment ceramic tile and glass demand which in turn will boost barium carbonate growth over the next seven years. Key ceramic and glass companies have been shifting manufacturing units to China and India on account of low raw material and labor cost. China is expected to contribute to the market growth in Asia Pacific. Asia Pacific is followed by Europe and Central and South America, which accounted for approximately one-fourth of the total market in the same year.
North America barium carbonate market is expected to foresee sluggish demand owing to the presence of stringent environmental laws. Prevalence of these legislations has forced companies to reposition their manufacturing centers in developing countries. However, numerous players are expected to invest heavily in R&D to develop new eco-friendly products to reduce greenhouse gas emissions.
The barium carbonate industry is highly fragmented on account of the presence of numerous companies. Key companies include Solvay, American Elements, Santa Cruz Biotechnology, Chemical Products Corporation, IBC Limited, Maruti Chemicals Company, Rahul Barium Chemicals, Chaitanya Chemicals, and Hubei Jingshan Chutian Barium Salts Corp. Ltd.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."