Global Barium Carbonate Market Overview 2018 - Share, Trends, Report And Forecast Till 2023
united states, 12 July 2018 -- The global barium carbonate market has witnessed an exponential growth over the past few years. This can be attributed to the favourable properties of barium carbonate, rising expenditure on infrastructural activities and preference for luxury lifestyle due to inflating income levels.
Barium carbonate, also known as witherite, is an odourless and tasteless white coloured powder with the chemical formula BaCO3. It is found in various forms and can be manufactured from either barium chloride or mineral barite. Barium carbonate is insoluble in water but soluble in most acids, thermally stable and does not readily disassociate. It finds applications in the manufacturing of products such as bricks, tiles, glass, ceramics, and various other chemicals. A new research report by IMARC Group, titled “Barium Carbonate Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global barium carbonate market was worth US$ 468 Billion in 2017. The report further anticipates the market to cross US$ 938 Billion by 2023, at a projected CAGR of more than 12% over the forecast period.
Global Barium Carbonate Market Drivers/Constraints:
Barium carbonate is majorly used for manufacturing and glazing ceramic tiles since it acts as a crystallizing and matting agent which combines with specific colouring oxides to synthesise unique colours. A surge in the construction activities in the developing regions and the increasing use of tiles have influenced the market growth.
Barium carbonate increases the refractive index and lustre of glass which makes it suitable for use in the glass industry. Apart from this, it is also used in the production of cathode ray tubes, optical glass, glass filters and borosilicate glass.
Other factors such as increasing government expenditure on infrastructural activities, growing population, inflating disposable incomes and rising preference for a luxury lifestyle are bolstering the barium carbonate market growth across the world.
Consumption of barium carbonate can cause convulsions, gastrointestinal disorders, muscle paralysis and tendon reflexes. Due to this, several governments in the developed countries have implemented stringent regulations on the usage of barium carbonate, thereby hampering the market growth.
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