Barium Sulfite Market Forecast and CAGR
According to the latest research study by Fact.MR, barium sulfite market is projected to witness significant growth in terms of volume and value during the forecast period. It is a white powder and slightly soluble in water, which is highly been utilized in paper manufacturing industries.
Consumption of barium sulfite is set to witness considerable sale in near future across the globe owing to provide a promising stance to the manufacturers. Comparatively low demand from the end-use industry has been observed in early 2020, which is likely to bottleneck the opportunities in the next couple of years. This has resulted in facilitating a moderate growth rate of 5.0% during the forecast period 2021-2031.
What is Driving Demand for Barium Sulfite?
In oil & gas industries barium products such as barium sulfite and barium sulfate are highly been used for the production of drilling fluids. Since it’s highly dense in nature it eliminates the risk of kicks and blowout in the oil & gas industries globally.
The white appearance of barium sulfite is given an upper edge to the consumption. Due to this property the paper manufacturing industries hold noteworthy market shares and anticipated to follow the same trend.
Chemical industries have witnessed significant demand for the manufacturing of paints and plastic raw materials in historical years and most likely to continue their surge in consumption during the forecast period.
Pharmaceutical industries and laboratories across the globe are also creating numerous opportunities for manufacturers and predicted to provide a spurt in sales during the assessment period.
In addition to this, barium sulfite is also used extensively in the agriculture sector for pH control and other qualities of soil. Due to this, the agriculture sector is also likely to provide momentum to the sale.
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Chemical Sector Recovery Likely to Augment Barium Sulfite Sales
The chemical sector around the globe has been impacted by COVID-19 induced slowdown and had affected the global barium sulfite sales. As it is highly been utilized in the manufacturing of paints and polymer in chemical industries. Along with it, laboratory activities around the globe also account for significant demand.
Barium sulfite is also used extensively in paper manufacturing industries, due to its white appearance. Although in early 2020 the production rate was constrained and the distribution chain was disturbed which has resulted in declining sales for barium sulfite.
Asia Pacific Barium Sulfite Market Outlook
Asia Pacific is one of the largest markets for barium sulfite globally. The Asia Pacific’s production is set to tread on the historic trend during the forecast period. Demand is most likely to remain subdued in the next couple of years, as a number of end-use industries make a gradual recovery.
Consumption of barium sulfite in the Asia Pacific region is led by the paper manufacturing, chemical, and construction sectors. The quick urbanization in countries like India and China has witnessed infrastructure development, which has created a plethora of opportunities for manufacturers. Moreover, the consumption from the agriculture sector also accounts for significant sales in the Asia Pacific.
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North America Demand Outlook
North America holds the noteworthy market share of barium sulfite. Many countries in this region have been severely impacted by the COVID-19 pandemic, which has observed decline in economic activities in construction and R& D sector.
The rising demand in different fields like healthcare, education, pharmaceutical, chemical and semiconductor and optical industries, is projected to give a positive impact on the production in this region.
US barium sulfite sales severely impacted by the construction sector in early 2020, since it is extensively used for paint manufacturing. The US construction sector is facing a challenging year. However, there are several opportunities that will lead to spurt in sale by early 2022.
Who are the Key Manufacturers and Suppliers of Barium Sulfite?
Some of the leading manufacturers and suppliers of barium sulfite include Sakai Chem, Solvay , AMERICAN ELEMENTS , Barium & Chemicals, Cimbar, Fuhua Chem , Huntsman , Nippon Chemical Industry , Jiaxin Chem , Onmillion Nano Material, Redstar , Suns Chemical & Mineral , Xinji Chemical and other prominent companies.
Many leading manufacturers across the globe have longstanding contracts with end-use industries to supply barium sulfite directly. Along with it, key manufacturers have reorganized their supply chain network with the specialty stores, multi brand stores and e-commerce platforms to gain more value. The barium sulfite market is the highly fragmented in nature with abundant number of players operating globally.
An Adaptive Approach to Modern-day Research Needs
Barium sulfite Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By End Use Industry
- Oil & Gas
- Paper Manufacturing
- Chemical Industries
- Optical & Semiconductor
- High density
- Insoluble in ethanol
- White appearance
- Plastic filler
By Distribution Channel
- Specialty Stores
- Multi-brand Stores
- Retail Sales
- Distributor Sales
- E-commerce Websites
- Company-owned Websites
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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