Barium Nitrate market to 2025: consumption volume, value, import, export and sale price analysis available in new report
Barium Nitrate the fuel to fireworks:
According to a new report published by Reports Monitor titled, “THE GLOBAL BARIUM NITRATE MARKET, GROWTH OPPORTUNITIES AND FORECAST TIL 2025” the global Barium Nitrate market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025
Barium nitrate is a crystalline salt of barium and nitrate. Barium nitrate is found naturally as nitrobarite, but this mineral is very rare. Various new companies are being established for manufacturing barium nitrate. For commercial purposes, barium nitrate is manufactured by two different techniques. The first technique is to carry out the reaction of barium carbonate with nitric acid and then precipitating, evaporating, and filtering iron impurities. The second way to produce the compound involves the reaction of heated sodium nitrate solution with barium chloride, which results in barium nitrate crystals. Barium nitrate is used in different industries such as pyrotechnics/fireworks, glass manufacturing, ceramic powder, detonators, tracer bullets, and vacuum tube production and others.
The major driving forces for global barium nitrate market are its increasing use in fireworks and military sector. The use of fireworks is increasing around the globe for various purposes such as festivals, media events, sports events, etc. also the use of barium nitrate is increasing in military sector. It is used for signal flares in the field to assist the military in dark remote locations. Barium nitrate is also being used in tracing 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. Additionally, it is also used in the production of glass products such as optical glass that is used in production of lens.
However, the factor restraining the growth of the barium nitrate market is its toxicity issues. Barium nitrate is fully soluble in water and is many-a-times exposed in the environment due to its usage in fireworks/pyrotechnics. This leads to exposure of barium nitrate to water bodies, the compound thereby entering to the food chain. These toxic compounds have severe impact on human health in case of any accidental exposure.
Nevertheless, Barium nitrate market is experiencing high growth in demand due to its growing usage for manufacturing ceramic powder. Ceramic powder is an important ingredient of semi-conductors and capacitors. Also, the increasing demand for pyrotechnics and glass is supporting the swift growth of market.
The barium nitrate market is segmented on the basis of end use and region.
On the basis of end use the market is further segmented into fireworks/pyrotechnics, glass & ceramics, military uses and others.
The global barium nitrate market is segmented into four region, North America , Europe, Asia pacific and Latin America , Middle east & Africa.
Currently, North America has the largest market share owing to large production of barium nitrate in the region. Apart from this U.S. consumes a lot of barium nitrate in military purpose and production of ammunitions to create powerful defence. Canada is also a large producer of barium nitrate.
Europe has the second largest market of barium nitrate. Russia contributes maximum to the market. It invests large amount on production of explosives and ammunitions. Also, European union (EU) is the largest producer of ceramic products.
Asia pacific region is the fastest growing region of the market under the forecast period. Countries such as India, China and Japan are large exporters of fireworks, they use a lot of barium nitrate. Also, India and China has huge expenditure on defense sector which is huge driving force of the market.
LAMEA region has the least share of market. But the Middle East has a fast growing market of glass and ceramics.
Basstech International (U.S), Solvay (Belgium), SAKAI CHEMICAL INDUSTRIES CO., LTD (JAPAN), Mil-Spec Industries Corp. (New York), Spectrum Chemical Manufacturing Corp. (U.S), Pro Chem, Inc. (Georgia), GFS Chemicals, Inc. (U.S), Aldon Chemicals (U.S), Barium & Chemicals, Inc (U.S), All-Chemie, Ltd. (U.S), Divjyot Chemicals Private Limited (India), Merck KGaA (Germany) are some of the key players of barium nitrate market.
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