Global barium nitrate market expected to reach USD 3,704.44 Million by 2023, growing at a CAGR of slightly above 5.8% between 2017 and 2023. Barium nitrate is an odorless compound that is mostly available in the form of a white solid. It is mostly non combustible but can accelerate the burning of combustible materials.
The report covers forecast and analysis for the barium nitrate market on a global and regional level. The study provides historic data of 2015-2017 along with a forecast from 2018 to 2023 based on volume (Kilo Tons) and revenue (USD Million). The study includes drivers and restraints for the barium nitrate market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the barium nitrate market on a global level.
This report offers comprehensive analysis on global barium nitrate market along with, market trends, drivers, and restraints of the barium nitrate market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.
The study provides a decisive view on the barium nitrate market by segmenting the market based on application and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2023. Based on application, the segmentation of barium nitrate market is fireworks/pyrotechnics, glass/ceramics, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has been further segmented into countries such as the U.S., UK, France, Germany, China, India, Japan, and Brazil.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global barium nitrate market such as Basstech International LLC, Barium Chemicals Co. Ltd., Solvay S.A., Degussa AG, Sakai Chemical Industry Co. Ltd., Tennants Distribution Ltd., Sigma Aldrich Corporation, San Yuan Chemical Co. Ltd., Angene International Limited and Jiaocheng Sanxi Chemical Co., Ltd. amongst others.
The report segments global barium nitrate market as follows:
Barium Nitrate Market: Application Segment Analysis
Barium Nitrate Market: Regional Segment Analysis
This report is based on in-depth qualitative and quantitative analyses of the global Barium Nitrate market. Zion Market Research has collected and analyzed key data belong to the global Barium Nitrate market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Barium Nitrate across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Barium Nitrate industry. Primary research makes up the major source of data collection and validation.
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Barium Nitrate market.
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Barium nitrate is the salt of the barium and the nitrate ion. It is predominantly used in the manufacture of fireworks, glass, as well as in the synthesis of other barium compounds. It can be prepared using nitric acid or ammonium nitrate and barium carbonate and also using sodium nitrate and barium chloride by double decomposition.
The increasing usage of fireworks across the globe for various purposes such as festivals, media events, sports events, etc. is expected to be the major driver for the global barium nitrate market. Currently, barium nitrate is being used extensively in the military sector. It used for signal flares in the field to assist the military in dark remote locations. Barium nitrate is also being used in tracer bullets. When the bullet is fired, barium nitrate gives out a small pyrotechnic charge in the bullet’s base and this helps the shooter to track the trajectory of the bullet with a naked eye. It is also used in the production of glass products such as optical glass that is used in products such as lenses. However, the toxicity of barium nitrate is expected to be a major restraint for the growth of the global barium nitrate market. However, increasing applications of barium nitrate and further innovation are expected to provide many opportunities for the key players operating in the global barium nitrate market.
The global barium nitrate market can be segmented on the basis of applications into fireworks/pyrotechnics, glass/ceramics, and others. Fireworks/pyrotechnics is expected to be the most dominating segment of the global barium nitrate market and is expected to maintain this trend over the forecast period. Increasing application of barium nitrate in fireworks coupled with the growing consumption of fireworks across the globe is expected to drive the demand for barium nitrate in the years to come.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. The Asia Pacific accounted for the most significant share of the barium nitrate market in terms of volume during 2017. This can be attributed to the huge demand for fireworks in the developing regions of China, India, etc. These two regions account for a significant share of the global population and this factor is expected to upsurge the demand for barium nitrate in the Asia Pacific during the forecast period. North America barium nitrate market is also expected to witness significant growth during the forecast period.
Some of the major players operating in the global barium nitrate market are Basstech International LLC, Barium Chemicals Co. Ltd., Solvay S.A., Degussa AG, Sakai Chemical Industry Co. Ltd., Tennants Distribution Ltd., Sigma Aldrich Corporation, San Yuan Chemical Co. Ltd., Angene International Limited and Jiaocheng Sanxi Chemical Co., Ltd. amongst others.