The global barium carbonate market is currently valued at around USD 701.2 Million. It is anticipated to grow at a CAGR of 4.8%, reaching USD 1,118.2 Million by 2032. High demand for barium carbonate in the production of blocks, bricks, tiles, and other materials, which are heavily consumed in the construction industry, is expected to bolster market growth.
FMI forecasts the barium carbonate market to register a year-on-year growth of 3.9% in 2022. Increasing consumption of barium carbonate in different applications such as bricks and tiles, electroceramics, enamels, glazes, specialty glasses, and others is expected to raise its demand in the forecast period.
| Attribute | Details |
|---|---|
| Barium Carbonate Market Value (2021A) | USD 674.5 Million |
| Market Value (2022E) | USD 701.2 Million |
| Projected Market Size (2032F) | USD 1,118.2 Million |
| Value CAGR (2022 to 2032) | 4.8% |
| Collective Value Share: Top 3 Countries (2022E) | 47.6% |
The latest research states that worldwide barium carbonate sales may contribute around 20-23% to the market valuation of its parent market, i.e., Barium.
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The barium carbonate demand grew at 2.8% CAGR between 2017 and 2021. The industry is expected to grow considerably during the forecast period (2022 to 2032). This is attributable to the widespread use of barium carbonate in diverse applications. Prior to the COVID-19 outbreak, the barium carbonate market grew rapidly due to high demand from various end users. However, during the pandemic outbreak, the market experienced sluggish growth.
The industry is expected to log a CAGR of 4.8% over the estimated period. Barium carbonate is an odorless, heavy, and white to cream or pale-yellow colored compound with the formula, BaCO3. Naturally, it is found in Witherite minerals, whereas commonly, it is manufactured synthetically. Usually, barium carbonate is available in granular, powder, and ultra-fine forms.
In recent years, there has been a surging interest in modern and cutting-edge designs for building unique and unusual structures. People are calling for groundbreaking home advancement plans because they want their structures to last long.
As a result, the construction and infrastructure development sectors are incorporating blocks of barium carbonate and tiles into their intended structures. These blocks provide the structures with the expected strength to withstand nature's most powerful forces, such as earthquakes, floods, and cyclones. The global barium carbonate market is growing, because of these benefits and the inclination toward fundamentally-planned structures.
Due to the sheer increase in infrastructure projects, the construction sector is projected to be the dominant segment. To prevent scumming, barium carbonate is used in tiles, bricks, and blocks. Since bricks and tiles are widely used in the construction sector, the consumption of barium carbonate can rise in tandem with construction activities. The construction segment is projected to reach about USD 400.2 Million by the end of 2032.
The toxic nature of barium and barium compounds such as barium carbonate may hinder the market in the forecast period. Barium and its compounds find multiple applications in different end-use sectors.
Naturally, barium occurs in groundwater & food and can be found in the form of barite (barium sulfate) & Witherite (barium carbonate). The toxicity of barium & barium compounds depends on their solubility in water. However, barium carbonate is insoluble in water and has some adverse effects on the human body.
BaCO3 is toxic to humans because it is soluble in their gastrointestinal tracts. Barium & its insoluble compounds are non-toxic. But, when exposed to gastrointestinal tracts, they are toxic, especially when there is perforation of the tracts or colon cancers and when barium penetrates the bloodstream.
Although barium carbonate is insoluble in water, it reacts with Hydrochloric acid in the stomach and produces barium chloride. Barium Chloride is water-soluble and releases barium ions, which are very toxic. Hypokalemia, muscle weakness, paralysis, abdominal pain, and vomiting are some of the ill effects that result from the ingestion of barium & its compounds. Barium poisoning is rare but can be life-threatening.
Booming Construction Sector Creating Opportunities for Barium Carbonate Sales in India
Barium carbonate is one of the essential raw materials, which is used in the construction sector. In India, the construction sector holds the 2nd most important place in terms of industrial growth and contribution to the GDP. The sector includes mainly industrial, residential, & real estate. The expanding construction sector in India will favor the barium carbonate market, as it is extensively utilized in construction.
A rising number of infrastructural projects in India and investments in building & construction are reported to bolster the demand for barium carbonate. As the Govt. is taking initiatives & announcing new projects at different time intervals, the barium carbonate market can grow at a faster pace.
As the industry grows, ample opportunities will see the light of day. The Indian Barium Carbonate market is anticipated to expand at a CAGR of 5.3% during the forecast period.
Demand in Construction Sector to Push Barium Carbonate Sales in China
East Asia is expected to emerge as the largest and fastest-growing barium carbonate market. Barium carbonate consumption in construction and renovation activities will drive the region. China could dominate the region over the forecast period. Rapid growth in the construction and electronics sectors is driving the sales of China, and thereby, East Asia.
The consumption of barium carbonate in electronic components is predicted to propel market demand. Barium titanate, which is produced by barium carbonate and used in laptops, desktops, medical devices, and data center devices, is expected to boost the market demand. The Chinese Barium Carbonate market is slated to attain about USD 270.7 Million by the end of 2032.
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Rapid Urbanization Will Propel the Adoption Of Barium Carbonate in Bricks & Tiles Applications
The increasing use of barium carbonate in the production of blocks, bricks, and tiles is predicted to drive the market. The blocks and tiles segment accounts for a sizeable chunk of the barium carbonate market. Alteration of clay tiles for metal components, marble floors, and other home improvement items is required to aid the market in the coming years.
Expanding the use of barium carbonate in blocks, bricks, and tiles to prevent scrimmaging is expected to boost barium carbonate demand. Aside from that, the market is propelled by rapid urbanization and rising consumer spending power, especially in developing countries.
This has increased the demand for high-quality decorative items, such as glass paintings, vases, and ceramic miniatures. The bricks & tiles segment is expected to expand at a CAGR of 5.3% during the forecast period.
Growth of Electronic Ceramics Can Boost the Market Sales
Ceramics are among the end-use sectors that make extensive use of barium carbonate. Barium carbonate generates classic barium crystal mattes. It is a significant and primary source of barium oxide, which is used in glazes. It acts as a flux in glazes and contributes to the production of a matte finish.
Barium carbonate is used to manufacture other chemicals. These chemicals go into different end-use industries, such as ceramics, electronics, and others. For that purpose, a certain diameter of barium carbonate particle is required. These electronic ceramics are used in electronic components, for instance, transmitters, electrical condensers, and others.
The demand for electronic ceramics is growing along with the rapid development of the electronics sector. As barium carbonate is an essential raw material in electronic ceramics, its demand is constantly increasing. Both segments are collectively expected to hold 46% of the total market shares in 2022.
Key market participants are fortifying their positions by expanding their production capacities. Some key players, on the other hand, have acquired other players to broaden their reach. This will aid in the expansion of their product portfolio and global footprint.
For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Product Form, Application, End-Use Industry & Region |
| Key Companies Profiled | Sakai Chemical Industry Co., Ltd.; Shaanxi Ankang Jianghua Group Co., Ltd; Chemical Products Corporation; Honeywell International Inc.; Nippon Chemical Industrial Co., Ltd; Ag Chemi Group; Kandelium; Hubei Jingshan Chutian Barium Salt Corporation Ltd.; Hebei Xinji Chemical Group Co. Ltd.; Zaozhuang Yongli Chemicals Co., Ltd; Guizhou Red Star Development Import And Export Co. Ltd. |
| Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Barium Carbonate market is anticipated to reach a valuation of USD 701.2 Million in 2022.
The global Barium Carbonate market is anticipated to witness a growth rate of 4.8% over the forecast period of 2022 and 2032 in terms of value.
The global Barium Carbonate market witnessed a growth of 2.8% CAGR between 2017 and 2021.
Sakai Chemical Industry Co., Ltd., Shaanxi Ankang Jianghua Group Co., Ltd, Chemical Products Corporation, Honeywell International Inc., Nippon Chemical Industrial Co., Ltd, Ag Chemi Group, Hubei Jingshan Chutian Barium Salt Corporation Ltd., Hebei Xinji Chemical Group Co. Ltd., Kandelium, Zaozhuang Yongli Chemicals Co., Ltd, And Others are the key players in the Global Barium Carbonate market.
Key players in the global Barium Carbonate market are expected to hold around 60-65% of the global market share.
The top countries driving the global barium carbonate demand are China, USA, and India.
| Market Value (2023) | USD 2.1 billion |
|---|---|
| Market Forecast Value (2033) | USD 3.2 billion |
| Market CAGR (2023 to 2033) | 4.6% |
| Market Size (2022E) | USD 24,442.7 Million |
|---|---|
| Market Projections (2032F) | USD 41,382.5 Million |
| Value CAGR (2022 to 2032) | 5.4% |
| Estimated Year Value (2022E) | USD 267.5 Million |
|---|---|
| Projected Year Value (2032F) | USD 459.6 Million |
| Value CAGR (2022 to 2032) | 5.6% |
| Estimated Year Valuation (2022E) | USD 209.9 Million |
|---|---|
| Projected Year Market Size (2032F) | USD 305.5 Million |
| Value-based CAGR (2022 to 2032) | 3.8% |
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