Barium Derivatives Market: Information by Type (Barium Carbonate, Barium Sulfate, Barium Chloride, Barium Nitrate, Barium Titanate, Barium Oxide, and Others), End Use (Mining, Metal Alloy, Explosive, Construction, and Others), and Region (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa)—Forecast till 2030
ID: MRFR/CnM/2746-HCR | February 2021 | Region: Global | 140 pages
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Barium Derivatives Market Overview
The global barium derivatives market is expected to rise in their business, with a volume prediction of over 2.21 million tons, by the end of the present forecast years. The CAGR in the present forecast years is recorded at 4.5%
Barium Derivatives are chemical elements actively used in mining, chemical, metallurgy and such production applications.
The key players across the globe are promoting Barium Derivatives as the wetting agent, which is used for drilling mud within the oil & gas industry. The oil & gas industry makes use of barium derivatives as a fluid, such as drilling oil. There are many other applications of each of the derivatives offered by this market and its key players. It depends upon the regional demand for the time being and the industrial requirement upon which derivative or element gets the maximum sales count. The key players also increase or decrease the production of certain elements by taking note of their demand.
The report focuses on the overall growth of the barium derivatives market. This is a complete highlight of how the market has revolutionized its practices to get a better hold over the targeted industries. The market dynamics have explained the driving potential and the challenges that the market is carrying upon its name. The key player analysis states the competition among several companies to be on the leading front to generate the highest revenue for the global barium derivatives market in the present forecast years. With the increasing demands, the predicted revenue is very high than what was recorded in the previous period.
Covid-19 Impact Analysis
COVID 19 pandemic did create a massive impact on the global barium derivatives market. The major impact did hit the trade segment of the market. The manufacturers of the same are now amending the strategies to get revival from that the current situations. They are now reshaping the entire sales channels in order to direct product innovations. With such efforts, the situations are now under control for the market, and the success cycle has been restored.
The entire duration of the virus outbreak was the key factor for the barium derivatives industry to assess the collective impact of this pandemic on the streamlined flow of operations. The market has stabilized for this industry after 2021 and is now running smooth to have forecasted a high revenue generation in the present forecast years.
Market Dynamics
Market Key Drivers
The global barium derivatives market has overcome major challenges in the past due to several factors of lacking supply and demand. But with the rapid increase in demand for energy sources, mostly in China and India, on account of industrial expansion, the key players have improved their service proficiency.
The oil & gas industry is also a market driver the industry, as they demand the use of these derivatives on high counts. Therefore, there has been substantial growth witnessed in the present forecast years.
Market Challenges
The prime challenge for the global barium derivative market is to reach out to the larger targets for selling the elements. Some regions have less awareness of the efficacy of these derivatives, which is lowering the sales for key players in that particular region.
Therefore, the key players of those low-demand regions are now running campaigns to promote the industries upon using these elements to utilize their efficacy and power to improve mining, construction and other such applications.
Market Opportunities
The high dependency of the end-use industries on consumer goods, electronics, aerospace and the automotive sector is what has driven the opportunities for this market to boom in the present forecast years.
The countries within the Asia-Pacific region are counting on improvising their industrial means with the use of barium derivatives. Therefore, the market opportunities are increasing for the key players to make immense profits out of these rising utilizations.
Market Restraints
The market is witnessing some prevalence of all of the stringent regulations within the developed countries. It is because of the high toxicity concerns of the product. It is just one of the other factors that are acting as restraints for this market.
As a result, this restraint is restricting the global barium derivatives market growth over specific countries or regions. And the key players are trying to find an escape from this restraint and avoid letting it bother the market's growth potential.
Cumulative Evaluation Of The Market
They are accountable for being used as certain pigments within the paints used for automotive coatings. A small share of barium sulfate is used for the exploration activities of the oil & gas industries. Apart from that, barium compounds such as barium sulfate and barium carbonate are also popular for use in plastics, pharmaceuticals, cosmetics, textile, rubber and electronics industries. You will also find it being used in the lubricant additive.
Market Segmentation
By Type:
Based on the type segmentation, the global barium derivatives market has products that are categorized into different types. These types include Barium Carbonate, Barium Sulphate, Barium Chloride, Barium Nitrate, Barium Titanate, Barium Oxide and other such elements.
Barium Carbonate is expected to be the leading segment, as its application in construction, metal alloying, and mining is widely in demand. Therefore, this particular type or category of barium derivative is going to bag more money in the present forecast years.
Barium Carbonate is in the form of a white powder that is insoluble for water and soluble for acids. But, there is an exception that it is not soluble with sulphuric acid. Its specific gravity of it is 4.275, which makes it toxic upon ingestion. Based upon these factors, the industries categorize the use of this derivative or chemical element.
By End-User:
Based on the end-user segmentation, the global barium derivatives market outlook is categorized in terms of their applications within select industries. The areas where these derivatives or chemical elements are highly preferable are metal alloy, construction, explosives, mining, etc.
The mining sector has generated high revenue in the past few years. It is expected to generate even higher revenue with the application of these derivatives in the present forecast years.
Global Barium Derivatives Market Share, by End Use, 2018 (%)
Source: MRFR analysis Regional Analysis
The global Barium Derivatives market analysis based on regions states that the industry is well spread across all regions of the globe. The major demand comes from the regions such as North America, Europe, Asia-Pacific, and other parts of the world. As per the reports, North America is expected to generate the highest demand, which owns to the rise in gas & oil exploration applications within the region.
Therefore, North America is expected to dominate with the highest Barium Derivatives market share due to its impeccable demand rate and revenue generation potential. Other parts of the world are also imposing collective efforts to improve their service efficiency and spread the word on the application of these derivatives.
Competitive Landscape Analysis
The global Barium Derivatives market trends have drawn the interest of many key players in this industry. Many companies are ready to invest and enter this market to make billions out of it in the long run. Some of the top key players who are strengthening this industry are:
- Solvay SA (Belgium)
- Vishnu Chemicals (India)
- Gemme Corp (China)
- AG CHEMI GROUP SRO (Czech Republic)
- Alliance Global (India)
- Norkem (England)
- BASF SE (Germany)
- JIGCHEM UNIVERSAL (China)
- ProChem, Inc. (US)
- TPL, Inc., (Mexico)
- IBC LTD (India)
- Toronto Research Chemicals (Canada)
Alliance Global (India) is one of the top names in this list of key players for the successful Barium Derivatives market growth. The entire management team of this company is working on suggesting powerful changes and innovations increase the application rate of these derivatives and improve the utilization of the current applications as well.
Recent Developments
Dec 2021 Scientists from the Australian Nuclear Science and Technology Organisation and Tokyo Tech, Kojundo Chemical Laboratory Co. Ltd. identified stable and high oxide-ion conductors using a new hexagonal perovskite-related oxide in a study conducted. These high-performance oxide-ion conductors could pave the way for solid electrolytes in renewable energy devices and next-generation batteries like solid oxide fuel cells. The ever-increasing demand for high-performance clean energy devices in today's technology era has required the creation of alternative energy components. Hexagonal perovskite derivatives containing molybdenum (Mo), barium (Ba), and niobium (Nb) oxides have been shown to have superior ionic conductivity.
Aug 2021 The Indian Finance Ministry has eliminated the existing anti-dumping tariff on Chinese imports of Barium Carbonate, an inorganic chemical in the form of white powder or granules. On Tuesday, the tax department's action came more than a month after the Directorate General of Trade Remedies (DGTR) advised the "rapid cessation" of anti-dumping duties on Chinese imports of barium carbonate.
Report Overview:
This report is a global exposure of the Barium Derivatives market, which explains its demand on industrial levels and has also driven the focus of people towards its contribution to the global economy and efficacy of various applications. The report has also segmented the key factors to explain how all of the key players thrive on working. The rising demands have set the market on a growing scale, and the expected revenue is intended to surpass the records of the previous barium derivatives market forecast period.
Segmentation table:
By Type:
- Barium Carbonate
- Barium Sulfate
- Barium Chloride
- Barium Nitrate
- Barium Titanate
- Barium Oxide
- Others
By End-Use Industry:
- Mining
- Metal Alloy
- Explosive
- Construction
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Rest of the World
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 4.5%(2019–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End-Use Industry and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Solvay SA (Belgium), Vishnu Chemicals (India), Gemme Corp (China), AG CHEMI GROUP SRO (Czech Republic), Alliance Global (India), Norkem (England), BASF SE (Germany), JIGCHEM UNIVERSAL (China), ProChem, Inc (US), TPL, Inc., (Mexico), IBC LTD (India), and Toronto Research Chemicals (Canada). |
| Key Market Opportunities | Oil and gas collectively are expected to continue to cater to more than half of the global energy needs by 2040 |
| Key Market Drivers | An increase in demand for energy mostly in India and China on account of the expansion of various industries. |
Frequently Asked Questions (FAQ) :
Global Barium Derivatives Market is projected to grow at a 4.5% CAGR between 2019-2024.
Global Barium Derivatives Market is predicted to touch USD 2.21 million by 2024.
North America is expected to dominate the Barium Derivatives Market.
Global Barium Derivatives Market finds wide applications in metal alloying, construction, and mining.
Key players profiled in the Barium Derivatives Market include Toronto Research Chemicals (Canada), IBC LTD (India), TPL, Inc., (Mexico), ProChem, Inc (US), JIGCHEM UNIVERSAL (China), BASF SE (Germany), Norkem (England), Alliance Global (India), AG CHEMI GROUP SRO (Czech Republic), Gemme Corp (China), Vishnu Chemicals (India), and Solvay SA (Belgium).
