According to a new research report by IMARC Group, the global barium carbonate market was worth US$ 504 Billion in 2018, growing at a CAGR of nearly 7% during 2011-2018.
Barium carbonate is a dense, tasteless and odorless white-colored powder with the chemical formula BaCO3. Naturally found in the mineral witherite, it is thermally stable and does not readily disassociate. Barium carbonate can also be manufactured from barium chloride or mineral barite, and is commercially available in granular, powder and high-purity forms. Although insoluble in water, barium carbonate is soluble in most acids, with the exception of sulfuric acid. Due to its chemical properties, barium carbonate finds application in the manufacturing of bricks, glass, ceramics, tiles and several chemicals.
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Global Barium Carbonate Market Trends:
Barium carbonate is widely used for glazing ceramic tiles as it acts as a crystallizing and matting agent and synthesizes unique colors when combined with specific coloring oxides. A rise in construction activities across the world has increased the usage of tiles, thereby stimulating the market growth. In addition to this, barium carbonate increases the luster and refractive index of glass. Therefore, it is utilized in the production of cathode ray tubes, glass filters, optical glass and borosilicate glass. Several other factors that are contributing to the growth of the barium carbonate market include rising population, inflating disposable incomes, and increasing government expenditure on infrastructural activities. Looking forward, the market value is anticipated to cross US$ 861 Billion by 2024, at a projected CAGR of more than 9% over the forecast period.
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Performance of Key Regions
3. Latin America
4. Middle East and Africa
Market by End-Use
2. Brick and Clay
3. Barium Ferrites
4. Photographic Paper Coatings
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