Barium Nitrate Market Shows a Lucrative Growth in the Forecast Period

Introduction

Barium nitrate is an inorganic salt of barium and nitrate ions, exists as white crystals at room temperature, and can be decomposed around 500ºC-700ºC with the release of oxygen, barium oxide, and nitrogen dioxide. The barium nitrate is manufacture by using two processes, the first is reaction of barium carbonate with nitric acid and then precipitating, evaporating, and cleaning iron impurities. The second way involves reaction of heated sodium nitrate solution with barium chloride, which formed barium nitrate crystals. The barium nitrate finds its numerous applications in pyrotechnics/fireworks, glass manufacturing, ceramic powder, detonators and in military & defence.

Barium nitrate acts as an oxidizing agent, which release nitrogen dioxide, barium oxide, and oxygen when heated at high temperature. It is used as plaining agent in the manufacture of special glasses and optical glasses, used to manufacture barium chloride and barium hydroxide compound, used in electrical and electronics industries in manufacturing capacitors, semiconductors, and superconductors. It also forms Thermate-TH3 military thermite grenades when mixed with thermite, which is one of the important components. The compound is highly explosive and toxic and cause skin and eye irritation, stomach flu, and others if ingested.

Segmental Insights

By type, the market is segmented into reaction with barium carbonate, reaction with barium sulphate and combination with barium chloride.

By application, the barium nitrate market is segmented chemicals, military and defence, recreational, others.  Among these, the compound has found a spectrum of applications across the defence sector as well as tracer bullets. The military & defence sector gain a global market in the forecast period, owing to use of barium nitrate in the explosion. The product is used in manufacturing destructive explosives for hand grenades from military, and manufacturing of optical fiber & ceramic powder. Moreover barium nitrate is also used to make good quality, low thermal expansion glass products.

Regional Insights

Geographically, the global barium nitrates market is segmented into five regions: North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Barium nitrate market is expected to grow at a highest CAGR for the forecast period 2019–2026, owing to growing demand of barium nitrate in explosion, and electrical and electronics industries.

North America holds the highest market share of barium nitrate due to huge demand in military & defence sector. According to the Stockholm International Peace Research Institute, the North America spent around USD 598.79 billion on its military in 2017, the highest military budget in the world, equivalent to 3.29% of its GDP and 9.68% of total government spending.

Asia Pacific is expected to lead the growth for this market, due to increasing rate of industrialization. Barium sulphate which is manufactured from barium nitrate is leading market in China. Thus, the growing demand of automobile and steel industry is expected to boost the consumption of barium sulphate in Asia Pacific region. The development of high-tech diagnostic techniques is likely to drive the overall growth of barium sulphate.

MEA and Latin America is expected to grow the market of barium carbonate, the product which is reacted with barium nitrate. The major key player such as American Elements Brazil, are expanding their manufacturing units in their regions.

Competitive Players

1. Nippon Chemical Industrial
2. San Yuan Chemical
3. Angene International
4. Jiaocheng Sanxi Chemical
5. Guizhou Red Star Development
6. American Elements
7. Honeywell International Inc.
8. Divjyot Chemicals Private Limited
9. Solvay S.A.
10. Sigma Aldrich Corporation
11. Barium Chemicals Co. Ltd
12. Merck KGaA
13. Sakai Chemical Industry Co. Ltd
14. Basstech International

Recent Developments

Recent Developments

• February 2024- Solvay expanded its production capabilities to meet rising global demand. Solvay remains a significant player in this market, continuing to focus on innovations and expanding its product applications, particularly in the areas of pyrotechnics and explosives.
• May 2024- Barium & Chemicals Inc. introduced a new line of high-purity barium nitrate specifically for the biotechnology and pharmaceutical sectors. These efforts highlight the ongoing innovation and strategic growth within the industry

Segmentation

1. By Type 
   
   1. Reaction with Barium Carbonate
   2. Reaction with Barium Sulphate
   3. Combination with Barium Chloride
2. By Application 
   
   1. Chemicals
   2. Military and Defense
   3. Recreational
   4. Others