The Precipitated Barium Sulfate Market is expected to increase at a 3.8% CAGR from 2023 to 2033, from USD 738.4 million in 2023 to USD 1045 million in 2033.
Increasingly High Demand for Coatings and Artwork
The rise in demand for paints and coatings, combined with an increased application for lubricants, is driving the precipitated barium Sulphate market growth rate.
Increasing industrialization, as well as the rise and expansion of key end-user verticals such as the rubber and plastic sectors, particularly in developing nations, might have a direct and beneficial impact on the precipitated barium Sulphate market's growth rate.
Increasing demand for white plastic raw materials such as resin pellets and opalescence sheets, particularly in developing economies such as India and China, growing use of precipitated barium Sulphate for a wide range of end-user applications such as the coating industry, rubber industry, plastic industry, and other applications, and a surge in industrialization, particularly in developing countries, are the key factors driving precipitated barium Sulphate growth.
Precipitated barium sulphate is a chemical compound having the formula BaSO4. It is a white crystalline substance that is odourless and insoluble in water. Precipitated barium sulphate is a low absorption threshold function filler. Precipitated barium sulphate inhibits agglomeration and flocculation, improves colouring efficiency, and allows for insulation.
Beneficial qualities of precipitated barium sulphate include low oil absorption, high burning point, long shelf life, accurate pH value, and non-toxicity. As a result, precipitated barium sulphate is used in a variety of industries.
| Report Attribute | Details |
|---|---|
| Precipitated Barium Sulfate Market Value (2023) | USD 738.4 million |
| Precipitated Barium Sulfate Market Anticipated Value (2033) | USD 1045 million |
| Precipitated Barium Sulfate Market Growth Rate (2023 to 2033) | 3.8% CAGR |
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The Precipitated Barium Sulphate Market accounted for USD 712 million in 2022, expanding at a 3.5% CAGR from 2018 to 2022. Global market absolute dollar growth USD 306.6 million.
An increase in building and construction activities, combined with a spike in technological developments in industrial chemical manufacturing processes, paves the way for the precipitated barium Sulphate market to expand further.
A lack of raw material supply as a result of the lockdown and limitations is a main impediment to the growth of the precipitated barium Sulphate market. Raw material price fluctuations also hinder the precipitated barium sulphate market growth rate.
The underdeveloped economies' lack of skilled specialists might further restrict the precipitated barium Sulphate market growth rate.
| Historical CAGR (2018 to 2022) | 3.5% |
|---|---|
| Forecast CAGR (2023 to 2033) | 3.8% |
As per the FMI analysts, a valuation of USD 1045 million by 2033 end is estimated for the market.
| Year | Market Valuation |
|---|---|
| 2016 | USD 568.74 million |
| 2021 | USD 685.33 million |
| 2022 | USD 712 million |
| 2023 | USD 738.4 million |
| 2033 | USD 1045 million |
One of the key factors driving demand for Precipitated Barium Sulphate is the global expansion in plastic manufacturing and demand. Barium sulphate is a filler used in the manufacture of plastic goods such as bottles, cartons, and containers.
As a result, the increase in plastics production isfueling demand for the barium sulphate market. This boosts demand for barium sulphate in the plastics industry.
The booming building and construction industry is driving up demand for barium sulphate, which is utilised in a variety of building and construction applications such as paint, concrete, and other products. Barium sulphate is used in the manufacture of paints & coatings, cement, and other products.
As a result, expansion in the building and construction sector drives demand for diverse applications such as paint and coatings, cement, and others, which increases demand for barium sulphate in the building and construction sector.
Barium sulphate has a fewnegative effects on the human body that can be fatal in some situations. Side effects of barium sulphate for medical applications include severe stomach discomfort, chest pain, difficulty breathing, blue skin, weakness, and diarrhoea/constipation.
In humans, barium sulphate can also cause paralysis. As a result, barium sulphate should only be ingested in small amounts and under the guidance of a medical practitioner. This is one of the primary impediments to the expansion of the barium sulphate market.
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Precipitated barium sulphate is chemically stable, has a good working temperature range, high density and provides plasticity and consistency to products. Due to this, it is suitable to work in multiple domains.
The chemical is also being used for the manufacturing of inks and adhesives where its temperature stability and viscosity control are utilized.
Precipitated barium sulphate is used in plastics brings starch resistance and required surface hardness making it popular in automotive and electronics segments. It is also used as an additive in acid batteries to improve performance. It has multiple applications thus, improving the precipitated barium sulphate market.
Conclusively, end-user domains for precipitated barium sulphate are increasing and providing new market opportunities. This is expected to provide an impetus to the demand for precipitated barium sulphate and urge manufacturers to boost their production and supply of the chemical.
| Country | The United States |
|---|---|
| CAGR (2017 to 2022) | 3.3% |
| Valuation (2023 to 2033) | USD 47.1 million |
| Country | France |
|---|---|
| CAGR (2017 to 2022) | 2.2% |
| Valuation (2023 to 2033) | USD 3.7 million |
| Country | Germany |
|---|---|
| CAGR (2017 to 2022) | 3.3% |
| Valuation (2023 to 2033) | USD 20.3 million |
| Country | China |
|---|---|
| CAGR (2017 to 2022) | 4.0% |
| Valuation (2023 to 2033) | USD 109.9 million |
| Country | Japan |
|---|---|
| CAGR (2017 to 2022) | 2.9% |
| Valuation (2023 to 2033) | USD 4.1 million |
As per FMI, China is projected to create an incremental opportunity of above USD 83.3 million in between 2022 and 2030. China is expected to remain a key producer of precipitated barium sulphate across the globe.
This is mainly attributed due to rapid industrialization and significant development in the manufacturing sector in the country. Furthermore, the country has multiple manufacturing facilities for the production of precipitated barium sulphate.
Manufacturers have high export potential and are expanding their reach in the overseas market.
The country is a potentially lucrative area in terms of opportunity for key players in the global precipitated barium sulphate market which puts the product in high demand in the coming years. This is expected to augment the growth of the precipitated barium sulphate market in China.
In 2022, the market expanded by 3.0% year-on-year, reaching a valuation of USD 107.4 million by the end of 2022. The region has a strong technological base and is a user of high-end technology.
These high technological resources are significantly used in plastic manufacturing. Hence, this region is one of the strong innovators in plastics and plastic manufacturing industry.
The presence of leading companies like The Huntsman Corporation is expected to bolster the growth of these polymers in the country.
Moreover, substantial investment in research and development in the country by key manufacturers in the field of nanotechnology is also boosting the application coverage for the market. This is also expected to augment the growth of the market in the coming years.
India is projected to account for 8.2% of the global precipitated barium sulphate market share in 2030. The country’s market is catered to a number of suppliers and distributors present in the region. This facilitates the growing demand for precipitated barium sulphate in multiple application industries and is expected to generate high demand for precipitated barium sulphate over the forecast period in the country.
Profit-bearing growth strategies and product innovations by many key players are expected to propel sales of precipitated barium sulphate over the assessment period. Significant growth in the paints and coatings industries along with plastics and polymer sector in India is another factor predicted to bolster the sales of precipitated barium sulphate over the forecast period.
Sales of precipitated barium sulphate for application in paints and coatings are expected to expand at a significant value of 4.3% CAGR over the forecast period of 2022 to 2030.
Paints and coating industry growth is expected to directly affect the growth of global precipitated barium sulphate market as it is widely applicable in the paints & coatings for its purity, low oil absorption, high burning point, and insolubility in water, precise PH value, long shelf life, non-toxicity, and effectiveness.
There has also been a growth in preference for the product in East Asia and South Asia. Owing to these factors, sales of precipitated barium sulphate are projected to increase over the forecast period. Substantial expansions in the paints and coatings industries all over the globe by key manufacturers of paints are also expected to benefit the growth of the market in near future.
Amongst the various particle sizes of precipitated barium sulphate, 5 μm and above segment are projected to remain one of the key segments. The segment is further estimated to create an absolute dollar opportunity of more than USD 117.6 million during the period of 2022 to 2030, and account for close to a three-seventh share in the global precipitated barium sulphate market.
Barium sulphate in the particle size of 5 microns and above is preferred due to the particles being a preferential contrast agent for gastrointestinal fluoroscopic examinations owing to the high attenuation of x-rays. This continues providing tailwinds to precipitated barium sulphate sales over the assessment period.
Leading players operating in the precipitated barium sulphate market are focusing on advancement in technology owing to particle size refining in the precipitated barium sulphate market.
Apart from this, players are focusing on strategic mergers and acquisitions, collaborations and innovative product launches to serve manyend users in the domestic market, in order to gain a competitive edge.
For instance:
| Attribute | Details |
|---|---|
| Market Size Value In 2023 | USD 738.4 million |
| Market Size Value in End of Forecast (2033) | USD 1045 million |
| Market Analysis | USD million for Value |
| Key Region Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; The Middle East & Africa |
| Key Segments | By Particle Size, By Application, By Region |
| Key Companies Profiled | Merck KGaA; Alfa Aesar; Solvay SA; Huntsman Corporation; Guizhou Redstar Development Co., Ltd.; Sakai Chemical Industry Co. Ltd.; Nafine Chemical Industry Group Co., Ltd.; Anglo Pacific Minerals Ltd.; Nippon Chemical Industrial Co. Ltd.; IBC Limited; The Kish Company Inc.; Shenzhou Jiaxin Chemical Co., Ltd.; Qingado Redbutterfly Precision Materials Co., Ltd.; Hebei Xinji Chemical Group Co. Ltd.; Zhushan County Qinba Barium Salt Co., Ltd.; Cimbar Performance Minerals Inc.; Gemme Corp Inc.; Shaanxi Fuhua Chemical Co., Ltd.; Shanghai Weiyi Industrial Co., Ltd.; Shanghai Liangjiang Titanium Chemical Co., Ltd.; Barium and Chemicals Inc.; Berckland Scientific Supplies Ltd.; Shanghai Loman Chemical Co., Ltd.; HongShaung Chem; Foshan Onmillion Nano Materials Co., Ltd. |
| 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 global market size is estimated to reach USD 5.3 billion by 2033.
North America is projected to emerge as a lucrative market.
The growth potential of the market is 3.8% through 2033.
The rising health effects are likely to limit market growth.
North America is likely to secure a valuation of USD 47.1 million by 2033.
| Estimated Value of Global Market by 2032 | USD 6.18 Billion |
|---|---|
| Documented Market Value of Market in 2022 | USD 3 Billion |
| Estimated CAGR from 2022 to 2032 | 7.5 % |
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