The new report by Expert Market Research titled, ‘Global Precipitated Barium Sulphate Market Overview, Report and Forecast 2023-2028’, gives an in-depth analysis of the global precipitated barium sulphate market, assessing the market based on its segments like type, application and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.5%
The market for precipitated barium sulphate has seen substantial growth due to factors such as it’s usage in different industries like plastic, rubber, paper, leather, paints, and coating . Also, increased knowledge across different industries offers an enormous market opportunity for key players in the precipitated barium sulphate market. Demand for non-toxic materials in plastics, coatings and pharmaceutical manufacturing has been growing. For such uses, the non-toxic precipitated sulphate of barium is very suitable. Consumers around the world are increasingly rising market demand with the heavy and growing adoption of plastic goods. It is also used as an agent for X-ray comparison. In the pharmaceutical industry, both non-toxicity factors and radio-opaque agents are boosting their market. Improved R&D activities are contributing to an increase in demand for precipitated barium sulphate. Precipitated barium sulphate is also used for drilling fluids in the oil industry. The demand for the commodity will be further increased by this. The rapidly rising market for paint and coating would also result in a significant expansion of demand from the precipitated barium sulphate industry.
Industry Definition and Major Segments
Precipitated barium sulphate, with BaSO4 as a chemical formula, is an inorganic compound. It is a white, odorless crystalline solid and does not dissolve in water. It also finds large uses in the manufacturing of plastics, rubber, paints, and coatings as a raw material. Precipitated sulphate of barium will allow insulation and prevent agglomeration and flocculation as well. It may also help to diffuse light and improve the pigmentation quality of the surface being applied.
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Based on the type, the industry is divided into:
- Nanometer
- Ordinary
- Modified
Based on the application, the industry is divided into:
- Plastics
- Coatings
- Rubber
- Others
The regional markets for precipitated barium sulphate include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Geographically, because of its large population with high growth and rapid industrialization, Asia Pacific is among the leading markets for the global industry. The demand for precipitated barium sulphate is expected to increase significantly with the increase in the disposable income of consumers in developing countries such as India and China. Because of healthy use among different sectors such as chemical manufacturing, ceramics, glass, and metal industries, North America is also a significant area. With the growing use of protective coatings, Europe is also likely to grow considerably. A growing preference among consumers for plastic goods is driving this market globally. The producers of precipitated barium are targeting the coatings industry for exchange. The precipitated barium sulfate market is expected to grow significantly in the near future, due to the burgeoning coatings and rubber industries.
Key Market Players
The major players in the market are Solvay S.A, Sakai Chemical Industry Co., Ltd., Foshan Onmillion Nano materials Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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