Market Trends of Barium Fluoride Industry
This section covers the major market trends shaping the Barium Fluoride Market according to our research experts:
Optical Spectroscopy to Fuel the Growth of Barium Fluoride Market
- Broad use of Barium Fluoride in spectroscopic components is expected to grow the market studied. It is suitable for application in the passive IR band.
- Barium Fluoride is suitable in the fabrication of optical windows transmitting radiation in the spectrum from infrared to ultra-violet rays. It is also used to produce Barium Yttrium Fluoride (BaY2F8) crystals used in UV lasers and for a number of environmental instruments due to its resistance to water damage.
- It is used in the VUV window where high radiation resistance is needed from gamma and x-ray which is perfectly catered by BaF2.
- All the aforementioned factors are expected to drive the Barium Fluoride market during the forecast period.
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Asia-Pacific to Dominate Barium Fluoride Market
- Asia-Pacific region is forecasted to dominate the barium fluoride market owing to the high demand for spectroscopic components and an increase in the aluminum refining in the region.
- The top two aluminum producing countries China and India come from the Asia-Pacific region with 36 million metric tons and 3.7 million metric tons respectively by the end of 2019.
- Presence of some major aluminum producing players in the region like Hongqiao Group (China), Chalco (China), Xinfa (China) along with the high production capacity of aluminum in the Asia-Pacific region is expected to propel the Barium Fluoride market in the region.
- Thus, the aforementioned factors are expected to drive the market in the region during the forecast period.
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