Barium Sulphate Market Worth US$365.4 Million By 2026 At A Growth Rate Of 2.6% - Industryarc

2022-10-26 02:00:59

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Growing building and construction industry set to drive the growth of the barium sulphate market.

HYDERABAD, TELANGANA, INDIA, October 26, 2022 / / -- IndustryARC, in its latest report, predicts that the size is expected to be valued at US$365.4 million by the end of the year 2026 and is set to grow at a CAGR of 2.6% during the forecast period from 2021-2026. Barium sulphate is an inorganic compound that is odorless and insoluble in water. Barium sulphate has exceptional properties such as low solubility and high level of clearance from the body, which makes it a good radiocontrast agent and is used as barium meal in diagnostic procedures. Additionally, barium sulphate is also a white transparent pigment, which is used as lake pigment in cosmetics and personal care products. Furthermore, the increase in demand from the packaging industry is also driving the barium sulphate market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the barium sulphate market highlights the following areas -

Asia-Pacific market held the largest share in the barium sulphate market owing to increase in demand from the medical and healthcare industry for barium meal from countries like China, India and Japan.

The increase demand from the plastic industry is driving the demand for barium sulphate as it is used as plastic fillers.

The growing construction and building industry is also driving the demand for barium sulphate as it is used in a wide range of applications in the construction sector.

Amid the Covid-19 pandemic, the barium sulphate market witnessed a considerable amount of growth owing to the increase in demand for radiocontrast agent in the healthcare industry.

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Segmental Analysis:

Barium Sulphate Market Segment Analysis – By Type: Precipitated Barium Sulphate segment held the largest share in the barium sulphate market in the year 2020. Precipitated Barium Sulphate is used for white plastic raw materials such as resin pellets and translucent opaque reflection sheet. The increasing use and preference for plastic products among customers and other end use industries is driving the demand for precipitated barium sulphate.

Barium Sulphate Market Segment Analysis – By Manufacturing Process: Carbothermal reduction segment held the largest share in the barium sulphate market in the year 2020. Since barium sulphate is insoluble in water, the main method used in manufacturing process is carbothermal reduction. Barium sulphate has to be steamed in high temperatures to yield maximum results as it is an insoluble compound. This is driving the carbothermal reduction segment in the manufacturing process of barium sulphate market.

Barium Sulphate Market Segment Analysis – By Grade: Pharmaceutical grade segment held the largest share in the barium sulphate market in the year 2020. The increasing demand from the healthcare and medical industry owing to the growing demand for radiocontrast agent is driving the pharmaceutical grade in the barium sulphate market.

Barium Sulphate Market Segment Analysis – By Application: Radiocontrast agent segment held the largest share in the barium sulphate market in the year 2020. The increase in the incidence of diseases that requires diagnostic procedures like CT scans and X-rays to be done is driving the demand for radiocontrast agent segment in the barium sulphate market.

Barium Sulphate Market Segment Analysis – By End-Use Industry: Pharmaceutical segment held the largest share in the barium sulphate market in the year 2020. Barium sulphate is used in many drugs and radiocontrast agent in diagnostic procedures. The increase in diseases such as heart diseases, brain related diseases and other diseases across the world is increasing the demand for procedures like MRI scanning, X-ray, CT scanning and other diagnostic procedures. This is giving rise to the demand for radiocontrast agents, which is further driving the demand for barium sulphate market.

Competitive Landscape:
The top 5 players in the barium sulphate industry are -
1. Solvay Chemicals Inc.
2. Sakai Chemical Industry Co. Ltd.
3. GFS Chemicals Inc.
4. Fuhua Chem
5. NOAH Technologies Corporation

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B. Potassium Sulphate Market

Venkat Reddy
IndustryARC

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