The barium sulfate market size is projected to be valued at USD 1,434.5 million in 2023 and is expected to rise to USD 2,381.5 million by 2033. The sales of barium sulfate are expected to thrive at a significant CAGR of 5.2% during the forecast period.
Barium sulfate is a white crystalline solid that is odorless and insoluble in water. An inorganic compound with the chemical formula BaSO4, it occurs as inorganic mineral barite (heavy spar), the main commercial source of barium and materials prepared from it.
Barium sulfate is a function filler that is superfine and exhibits a low absorption threshold. It occurs as colorless orthorhombic crystals or a white amorphous powder and does not dissolve in water, ethanol, and acid but is soluble in hot concentrated sulfuric acid.
It allows insulation, prevents agglomeration & flocculation, and ultimately provides improved pigmentation efficiency to the surface upon which it is applied.
Increasing sales of barium sulfate in the pharmaceutical industry are mainly attributed to the rise in the applications of polypropylene and polystyrene in pharmaceutical packaging materials. In addition, it is also used in a wide range of diagnostic equipment, which further contributes to the growth of the pharmaceutical-grade barium sulfate market.
In the coming years, increasing the use of barium sulfate in diagnostics procedures, such as X-ray imaging, as a radio-contrast agent is likely to create new opportunities for stakeholders in the barium sulfate market. With the ongoing developments in diagnostics technologies in the healthcare industry, the sales of pharmaceutical-grade barium sulfate are expected to go up in the coming years.
On the contrary, insufficiency in raw material supply owing to the lockdown and restrictions is one of the key factors that is anticipated to limit the growth of the barium sulfate market over the analysis period.
| Attribute | Details |
|---|---|
| Barium Sulfate Market CAGR | 5.2% |
| Barium Sulfate Market Valuation (2023) | USD 1,434.5 million |
| Barium Sulfate Market Valuation (2033) | USD 2,381.5 million |
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It is witnessed that the barium sulfate market has projected an absolute dollar growth of USD 991.5 million based on consumption analysis.
From 2018 to 2022, the demand for barium sulfate experienced a notable increase across various industries. Factors such as the expanding oil and gas sector, rising construction activities, and the growing healthcare industry contributed to the increased consumption of barium sulfate. Additionally, its application as a contrast agent in healthcare imaging procedures further drove market consumption.
Looking ahead, the forecast period from 2023 to 2033 shows promising growth prospects for the barium sulfate market. Factors such as ongoing industrial development, infrastructure projects, and technological advancements are expected to fuel the demand for barium sulfate in various sectors.
Moreover, the expanding healthcare sector and the growing demand for high-quality paints and coatings are projected to contribute significantly to the consumption of barium sulfate.
Precipitated barium sulfate is added to various types of synthetic resin (such as acryl resin) as a diffusing material for transmitted and reflected light. Precipitated barium sulfate is a white crystalline solid that is odorless and insoluble in water. It transpires as the inorganic barite (heavy spar), the salable source of barium and materials prepared from barium.
The precipitated barium sulfate is used in white plastic raw materials such as resin pellets and opalescence sheets. The precipitation of barium sulfate from an aqueous solution of barium chloride and sodium sulfate is investigated experimentally in a continuous Y mixture to avoid any mixing influence.
An increasing preference for plastic products among consumers is driving this market globally. Precipitated barium producers are targeting the coatings industry for trade. Due to the burgeoning coatings and rubber industries, the precipitated barium sulfate market is likely to expand substantially in the near future.
Barium sulfate is used in important industries like plastic, rubber, paper, leather, paints, and coating. There has been increasing demand for non-toxic materials in plastic, coating, and pharmaceutical production. The non-toxic barium sulfate is very suitable for such applications.
The heavy and increasing adoption of plastic products by consumers over the world is steadily expanding the market demand. It is also used as an X-ray contrast agent. The non-toxicity factors and the radio-opaque agent are boosting its demand in the pharmaceutical industry.
The improving research and development activities are leading to surging the demand for barium sulfate. Barium sulfate is also used in the oil industry as a drilling fluid. This may further increase the demand for the product. The rapidly increasing paint and coating market may also cause a big expansion of barium sulfate industry demand.
The rise in demand for paints and coatings coupled with a growing application for lubricants is the root cause fueling up the precipitated barium sulfate market growth rate.
Rising industrialization, coupled with the growth and expansion of various end-user verticals such as rubber and plastic industries, especially in developing economies, may also directly and positively impact the growth rate of the precipitated barium sulfate market.
Growth in the buildings and construction activities coupled with a surge in the technological advancements in the industrial chemical manufacturing process may further carve the way for the growth of the precipitated barium sulfate market.
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Insufficiency in raw material supply owing to the lockdown and restrictions is one of the leading factors that is expected to impede the growth of the barium sulfate market during the forecast period.
Additionally, fluctuations in the prices of raw materials are anticipated to dampen the growth of the barium sulfate market over the analysis period. The dearth of skilled professionals in underdeveloped economies may also hinder the growth of the barium sulfate market in the forthcoming years.
In terms of regional platforms, North America holds the commanding market share in the barium sulfate market. The region is expected to surge to over 29.2% share from 2023 to 2033.
Healthy usage among various sectors like chemical manufacturing, ceramics, glass, and metal industries in North America is one of the key factors that is expected to fuel the growth of the market in the region during the forecast period.
The region may continue to undergo substantial gains during this period owing to the growth and expansion of end-user verticals in this region, abundant availability of raw materials, and surging construction of smart cities.
According to Future Market Insights, Europe is expected to hold significant growth opportunities for barium sulfate and is expected to reach a share of 13.5% in 2022.
Among countries in Europe, Germany is expected to gain a prominent share of 10.3% in the barium sulfate market. The rising demand for raw plastic among chemical manufacturers is boosting the growth of the market.
According to Future Market Insights, Asia Pacific is expected to surge with lucrative growth opportunities for the barium sulfate market and is expected to reach a significant share of 10.4% in 2022.
Asia Pacific is expected to have a substantial expansion with increasing usage of protective coating. The Asia Pacific is among the leading markets for a global industry because of its large population with fast growth and quick-paced industrialization.
With the increase in the disposable income of consumers in developing nations like India and China, there is expected a great increase in the barium sulfate market.
According to Future Market Insights, the Middle East & Africa are expected to provide significant growth opportunities for the barium sulfate market and are expected to reach a share of 4.6% in 2022. With the ongoing developments in the diagnostics technologies in the healthcare industry in the Middle East & Africa, the sales of pharmaceuticals-grade barium sulfate are expected to go up in the forthcoming years.
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Ordinary precipitated barium sulfate holds a significant share of the barium sulfate market. It is a commonly used form of barium sulfate due to its versatile properties and wide range of applications.
In the barium sulfate market, ordinary precipitated barium sulfate is widely utilized in industries such as paints and coatings, plastics, rubber, and paper. Its high brightness, excellent chemical inertness, and low abrasiveness make it a preferred choice in these industries.
One of the key applications of barium sulfate in the coatings industry is as a pigment extender. It is commonly added to paints and coatings to increase their opacity, improve coverage, and enhance overall color consistency. Barium sulfate acts as an effective filler, reducing the expensive pigments required while maintaining the desired visual appearance and hiding the power of the coating.
In addition to its technical advantages, barium sulfate is also favored in the coatings industry due to its cost-effectiveness. It offers a cost-efficient alternative to other pigments and fillers while delivering comparable or superior performance.
Some key participants present in the global barium sulfate market include Dongfeng Chemical, ValourImpex, Shaanxi Fuhua Chemical, SachtlebenChemie, XinJiXibo, Xuri Group, ShenzhouJiaxin Chemical, and Nippon, among others.
The market is highly competitive due to the presence of several leading participants. While global players such as Dongfeng Chemical, ValourImpex, and Shaanxi Fuhua Chemical, account for a considerable market size, several regional-level players also operate across key growth regions, particularly in North America.
Recent Development:
In November 2020, Fuhua established its Product Research and Development Expert Workstation, designed to accelerate the development of new sodium sulfide products, tackle technical problems and improve product quality. It hired seven well-known experts as pitting experts.
The expert workstation researches and solves production technology problems by exploring new products such as crystal sodium sulfide and anhydrous sodium sulfide. Provides consulting, training, and guidance services of advanced production technology for enterprise development, continuously expands market areas, and improves the company's core competitiveness.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa |
| Key Segments Covered | Type, End User, Region |
| Key Companies Profiled | Dongfeng Chemical; ValourImpex; Shaanxi Fuhua Chemical; SachtlebenChemie; XinJiXibo; Xuri Group; ShenzhouJiaxin Chemical; and Nippon |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is expected to generate revenue of USD 1,434.5 million in 2023.
The market is expected to yield USD 2,381.5 million by 2033.
Budding construction sector and chemical manufacturing process are offering growth prospects for barium sulfate.
Lack of skilled professionals and fluctuations in raw materials’ prices may dampen the growth prospects.
North America enjoys 29.2% pie of the global market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Ordinary Precipitated Barium Sulfate 5.2. Modified Barium Sulfate 5.3. Nanometer Precipitated Barium Sulfate 5.4. Other Types 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Industry 6.1. Coating Industry 6.2. Pharmaceuticals Industry 6.3. Rubber Industry 6.4. Plastic Industry 6.5. Other End-Use Industries 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Dongfeng Chemical 17.2. ValourImpex 17.3. Shaanxi Fuhua Chemical 17.4. SachtlebenChemie 17.5. XinJiXibo 17.6. Xuri Group 17.7. ShenzhouJiaxin Chemical 17.8. Nippon 17.9. Solvay Chemicals Inc. 17.10. Sakai Chemical Industry Co. Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
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Barium Sulfate Market
