Barium Nitrate Market Share, Overview, Trends and COVID-19 Analysis, Forecast to 2023
Barium Nitrate Market Overview and Growth Factors:
Barium nitrate is an inorganic salt of barium and nitrate ions. It
is a colorless, odorless, and water-soluble solid compound. Barium nitrate is
an oxidizing agent, which releases oxygen, barium oxide, and nitrogen dioxide
when heated up to a temperature of 500-700ºC. The product occurs naturally in
nitro barite and can be manufactured by two processes. The first process
involves the reaction of barium carbonate with a nitric acid and then
precipitating, evaporating, and filtering iron impurities. The second way to
produce the compound is to heat sodium nitrate solution with barium chloride
which results in barium nitrate crystals. It forms Thermate- TH3, military
thermite grenades when mixed with thermite. When mixed with aluminum and zinc,
it forms a flash powder, which is highly explosive. It is used as an oxidizer
to produce fireworks and flares, especially green colored.
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Barium Nitrate Market Key Players:
Some of the prominent manufacturers in the global COVID-19 analysis on barium
nitrate market segment are
Basstech International (U.S), Solvay (Belgium), SAKAI CHEMICAL INDUSTRIES CO.,
LTD (JAPAN), Mil-Spec Industries Corp. (New York), Spectrum Chemical
Manufacturing Corp. (U.S), Pro Chem, Inc. (Georgia), GFS Chemicals, Inc. (U.S),
Aldon Chemicals (U.S), Barium & Chemicals, Inc (U.S), All-Chemie, Ltd.
(U.S), Divjyot Chemicals Private Limited (India), Qingdao Jiaozi International
Trade Co., Ltd (China), Hongkong Sheng Shi Jiao Zi Industrial Co., Ltd (China),
Merck KGaA (Germany), and Jiaocheng Sanxi Chemical Co., Ltd (China).
Barium Nitrate Market Segmentation:
The global barium nitrate industry is segmented on the basis of its application and region.
Based on the application, the global market is segmented into
explosives, glass manufacturing, ceramics, fireworks/pyrotechnics, tracer
bullets, detonators, vacuum tube production, other barium compounds production,
and others.
Regional Analysis:
The global Barium Nitrate Market is segmented into five
key regions namely North America, Europe, Asia Pacific, Latin America, and the
Middle East & Africa. North America holds a major share of the market. The
region accounts for about a quarter share of the market on account of the
advancing military and defense industries. The U.S is the major contributor to
this regional market growth owing to the presence of many prominent
manufactures. The U.S is one of the leading military powers and is aspiring to
enhance its defense capabilities in the coming years, which is expected to
propel the growth of the market during the assessment period.
The regional barium nitrate market in Europe is witnessing a
significant growth due to the sizeable investments in the defense sector. The
high production of various types of explosives in Russia is driving the demand
for the product in this regional market.
The Asia Pacific is the fastest emerging region in the global
barium nitrate market due to the increasing demands from pyrotechnics and
electronics industries. Countries such as China, India, and Japan are the major
contributors to the market growth in this region. At present, China is the
major manufacturer and exporter of fireworks, which is one of the prominent
factors propelling the market growth in this regional market. The increasing
demand for the electrical and electronic devices in developing countries such
as India and Japan is expected to favor the market growth during the forecast
period.
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studying Covid19 and its impact on various industry verticals and wherever
required we will be considering covid19 footprints for a better analysis of
market and industries. Cordially get in touch for more details.
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