Barium Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis and Forecast 2020-2027

In terms of value, the global barium market stood at US$ 2.7 Bn in 2019 and expected to reach US$ 4.3 billion by 2027 with a CAGR of 5.1% during the forecast period. The barium market is driven by the increase in usage of barium in the glass & ceramics industry. Major suppliers of barium and its compounds are located in Asia Pacific. China is a production hub of barium carbonate in the region.

Major Drivers of Barium Market

Barium carbonate is used in the removal of efflorescence, which is a crystalline or powdery deposit of salts often visible on the surface of concrete, brick, tiles, or natural stone surfaces. The demand for high quality, discoloration-free bricks has been rising. Masonry units need to be covered and left in pallets in order to minimize the risk of efflorescence throughout the construction project. With the addition of barium carbonate, soluble sulfate salts are bonded and undergo chemical a reaction to form insoluble barium sulfate. This prevents efflorescence. The pattern of construction has undergone significant changes with modernization. The demand for attractive, colored, and smooth structures has been rising. Tiles are made of the same clay or shale as bricks, and are formed into relatively thin sheets, tubes, or hollow blocks. They are usually glazed and made in many colors with the addition of barium carbonate.

Bricks remain one of the vital building materials in construction activities in emerging economies. The construction industry in China and India has been expanding significantly. This is fueling the demand for bricks and flooring tiles in these countries. In turn, this is propelling the barium carbonate market.

Increase in Oil & Gas Exploration and Drilling Activities to Offer Lucrative Opportunities to Barium Market

Around 90% of barium sulfate (barite) is primarily used in the petroleum/oil drilling industry. It is used as a weighting material in the formulation of drilling mud. Barium sulfate is used to increase the hydrostatic pressure of drilling mud, allowing it to compensate for high-pressure zones experienced during drilling. The softness of the barite mineral prevents it from damaging drilling tools during drilling and enables it to function as a lubricant. The global production of oil and natural gas increased substantially from 2005 to 2017. This has resulted in excessive drilling and exploration activities, thereby propelling the demand for barium compounds across the globe. The demand for clean energy fuels such as natural gas has been increasing across the globe. Under the 2015 Paris Climate agreement, all countries, except the U.S., have joined hands to reduce the overall average global temperature by 1.5°C and lower carbon emission released by petrol & diesel vehicles. France and the Netherlands are providing subsidies on natural gas vehicles (NGV) and electric vehicles (EV). In line with this objective, France is expected to discontinue the sale of petrol and diesel vehicles by 2040 and shift toward natural gas and electric vehicles. Majority of countries are shifting toward the production of natural gas vehicles to reduce air pollutants and carbon emission. This strategy is estimated to result in a decrease in demand for crude oil in the long term, but exponential increase in natural gas drilling activities.

The global demand for energy has been increasing at a rapid pace. The demand for oil and gas exploration and drilling activities has also been rising at a significant pace. Growth in production of oil and gas has propelled the global barium market. Asia Pacific is anticipated to dominate the global barium market during the forecast period, led by the rise in production of natural gas in the region, primarily in China.

Decline in Demand for Barium Carbonate to Hamper Global Market

CRT or cathode ray tubes are the largest components of older monitors and televisions. They are responsible for generating and displaying video images. CRTs are primarily made of glass, which is made of barium carbonate. The introduction of LED televisions has led to a decrease in the production of CRTs. Since the late 2000s, CRTs have been largely superseded by newer flat panel display technologies such as LCD, plasma display, and OLED displays. Various renowned television manufacturers have stopped making their own CRT-based sets. The consumption of CRT devices is expected to decrease in the near future with the transition toward flat-panel monitors and television technologies. Approximately 85% of the remaining CRT devices are projected to reach end-of-life by 2025. The demand for barium carbonate is anticipated to decline with the decrease in demand for CRT.

Asia Pacific Dominates Barium Market

China is the key producer of barium compounds in Asia Pacific. Several manufacturers are engaged in the production of barium compounds that can be used in glass and ceramics. In most countries of Asia Pacific such as China, India, and countries of ASEAN, governments have taken initiatives for new building and construction projects. The rise in investments in the construction industry is anticipated to fuel the demand for barium compounds in the region in the near future. Barium compounds are primarily used in glass & ceramics and bricks & tiles for the removal of unwanted salts. Unlike developed regions such as Europe and North America, Asia Pacific witnesses significant demand for barium compounds for usage in the production of CRT glass. This can be ascribed to the presence of significant middle-class population in the region.

Fragmented Nature of Barium Market

The barium industry is fragmented, with tier-1 companies constituting to 30% to 40% share of the global barium market in 2019. Companies operating in the barium market are investing to expand their product portfolios as well as distribution networks. They have adopted strategies such as mergers & acquisitions, development of new products, joint ventures, and expansions to meet the increasing demand for coatings. Tier-2 companies operating in the barium market companies include regional players with strong foothold in the local market and unorganized players that are primarily established in China and India. The unorganized sector consists of small-scale manufacturers of barium. Large numbers of small-scale manufacturers operate in every region. They primarily import barium from China and distribute it across the country.

Key Growth Drivers of Barium Market

• Barium compounds are used in the production of alkali-barium silicate glass that is employed in television screens. It protects eyes from harmful X-rays that could cause long-term health issues. Television produces X-rays that are absorbed by glass with minimum amount of heavy oxides (lead, barium, or strontium). Lead glass is commonly used for the funnel and neck of the TV tube, while glass containing barium is used for the screen.
• Besides the paint industry, barium sulfate is employed in various other industries. It is largely used in glass manufacturing. Barium chloride, which is a barium compound, is also extensively used in glass manufacturing. The compound is made by roasting barite, coal, and calcium chloride. Barium carbonate, which has a wide range of applications, helps in the creation of other products similar to glass. It is used to create specialized glass called optical glass, which is used in eyewear.
• Demand for glass products is high in various industries such as packaging, construction, and electronics
• Glass is now being used in the building industry as insulation material, structural component, external glazing material, and cladding material. It is used to make delicate fenestration on facades as well as conventional windows. Various types of glasses are used in construction depending upon different purposes such as natural lighting, doors, windows, and balconies.
• Increase in usage of back painted glasses as building materials is driving the demand for barium compounds. Glass production in Europe reached 36.5 million tons in 2018, a marginal increase of 0.2% vis-à-vis that in 2017. This indicates that the market is reviving. Since 2016, glass manufacturing companies have been expanding or maintaining their production levels, owing to the revival in demand, primarily in construction, electronics, and packaging sectors.
• Demand for architectural glass is anticipated to rise in the near future due to increase in construction activities in EMEA (Europe & Middle East) and Asia Pacific. Demand for architectural glass is anticipated to increase in the long term despite the temporary slowdown caused by the COVID-19 pandemic. This, in turn, is likely to propel the demand for barium compounds.

Major Challenges for Barium Market

• Strict government monitoring and regulations concerning the production of barium sulfate in major countries such as China and India have adversely affected the barium sulfate market. This has led to severe shortage of barium in the market.
• China accounts for majority of global barite (barium sulfate) supply. However, concerns regarding supply of barites have been rising due to restrictions imposed on mining and depletion of mines. The U.S. is the largest consumer (approximately 2.8 MT per annum) of barite (barium sulfate). It imports more than 70% of annual consumption, primarily from China.
• Governments of various countries across the world have implemented stringent regulations with regard to the environmental impact of mining. Companies need to adhere to acts such as the Federal Migratory Bird Treaty Act and the U.S. Environmental Protection Act in order to obtain leases and licenses from governments.

Leading Players in Barium Market

• Major manufacturers operating in the barium market include -
  • The Solvay S.A.
  • Honeywell International Inc.
  • Nippon Chemical Industrial Co., Ltd.,
  • Merck KGaA.
• These players have considerable presence across the globe.
• Other tier-2 players operating in the market are -
  • PVS Chemicals
  • Divjyot Chemicals Private Limited
  • Santa Cruz Biotechnology, Inc.
  • IBC Limited
  • PENTA s.r.o.
  • China NaFine Group International Co., Ltd
  • Shandong Xinke Environmental Chemistry Co., Ltd.
  • P K CHLOROCHEM PVT. LTD.

Market Segmentation

By Type & its Application

• Barium Carbonate
  • Glass & Ceramics
  • Brick & Tiles
  • Chemical Intermediates
  • Others
• Barium Sulfate
  • Oil & Gas Drilling
  • Paints & Colorants
  • Chemical Intermediates
  • Others
• Barium Nitrate
  • Fireworks/Pyrotechnics
  • Glass & Ceramics
  • Others
• Barium Hydroxide
  • Chemical Intermediates
  • Food
  • Glass & Ceramics
  • Others
• Others (Barium Acetate, Barium Bromide, Barium Titanate, Barium Chloride, etc.)

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Spain
  • Italy
  • U.K.
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa