Market Size of Barium Carbonate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Barium Carbonate Market Analysis
The Barium Carbonate Market is projected to register a CAGR of over 7.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, construction activities were temporarily halted during the government-imposed lockdown. Thus, this led to a decrease in the consumption of barium carbonate, which was used to produce tiles, matt glazes, bricks, and other components in the construction sector, thereby witnessing a declining market growth rate. However, the condition recovered in 2021, which was expected to benefit the market during the forecast period.
- Over the short term, the growing application of barium carbonate in the ceramic and construction industries is expected to drive the market's growth.
- However, the toxic nature of barium carbonate and stringent regulations implemented by several governments in developed countries on the usage of barium carbonate are likely to hinder the growth of the studied market.
- The research and development on the application of barium carbonate to separate and purify Cesium-131 for radiation therapy will likely provide opportunities for the barium carbonate market over the forecast period.
- The Asia-Pacific region dominates the barium carbonate market, owing to growing application in the construction and ceramic sectors in the countries like China, India, and others.
