Barium Nitrate Market will witness a rapid growth to 2025 Barium Nitrate Market | Seite 2

consumption of barium nitrate in pyrotechnics, thus driving its barium nitrate market
demand.
Rising concerns regarding disposal of these compound supported by stringent
environment policies may hamper industry growth. Barium nitrate is water soluble an
if not disposed properly may harm aquatic life and environment which may act as
major restricting factor towards industry growth, thus affecting barium nitrate market
profitability.
North America, led by Mexico, Canada and the U.S. barium nitrate market size, is
anticipated to rise significantly in the projected time period. The U.S. has the largest
defence budget in the world with over USD 586 billion in 2017. Geopolitical tensions
in the region are likely to intensify the demand for military equipment’s and
explosives, thus propelling regional product demand.
Europe, driven by UK, Spain, Italy, France and Germany barium nitrate market may
observe steady gains due to rising automotive industry supported by innovative
product launch and favourable regulatory environment. European automotive
industry represents 7% of the total GDP of the region. According to estimates
approximately 19.2 million trucks, cars, vans and buses are manufactured in Europe
annually, which is likely to register strong demand for semiconductors and thus
driving market growth.
Asia pacific, led by Australia, South Korea, Japan, China and India barium nitrate
market is anticipated to experience significant growth in electronics industry.
Electronics industry in India is one of the largest markets worldwide and is estimated
to reach 228 billion by 2020. Technological advancement including rollout of 4G/LTE
networks and IOT have bolster the adoption of electronics products in the region.
Moreover, government initiatives including Digital India and Smart City projects will
boost electronics manufacturing in India which is anticipated to drive demand for
electronics product and thereby driving market demand over the forecast period.
Global barium nitrate market share is moderately fragmented. The key players
operating in the market includes Solvay S.A., Barium Chemicals Co. Ltd., Sigma
Aldrich Corporation, Nippon Chemical Industries, Merck KGaA, Sakai Chemical
Industry Co. Ltd., Basstech International LLC., Degussa AG, Angene International
Limited.
Companies are majorly focusing on increasing production capacities to cater
worldwide product demand. Initiatives along with competitive pricing may support
increase in market share over projected time frame.
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