Barium Hydroxide Market: Barium hydroxide is an inorganic chemical compound that is a white crystalline solid with a barium sulphate (BaSO4) structure. It is most commonly used in the production of greases and lubricants additives, plastic & textile, glass and water treatment.
Drivers of the Barium Hydroxide Market
The drivers of the Barium Hydroxide Market are:
• Increasing demand for the production of barium chemicals
• The growth in the construction industry
• Increasing demand for barium hydroxide monohydrate from water treatment applications
Some of the restraints on the market are:
Advantages of the Barium Hydroxide Market
The advantages of Barium Hydroxide market include:
Barium hydroxide is one of the most commonly used compounds in the glass industry, due to its low melting point and high solubility.
It is also used in the production of ceramic products, and as an electrolyte in lead-acid batteries.
Barium hydroxide has a wide range of applications in the pharmaceutical industry. It is used as an antacid, and in the manufacture of barium sulphate for X-ray contrast media.
Market Value of Barium Hydroxide Market
At a CAGR of 3.60% over the forecast period, the Barium Hydroxide market is anticipated to increase from USD 121.40 million in 2022 to USD 155.50 million by 2030.
Barium hydroxide is commonly used in the production of barium soap, which is available in many industries including rubber production, textile printing, fabric coating and dyeing, paper and pulp industry as well as detergent manufacturing. The growing demand for cleaning products due to rapid urbanization has fuelled the demand for barium hydroxide, which in turn has boosted the growth of the global barium hydroxide market. In addition, implementation requirements must be met with environmental regulations that impact market growth.
The increase in industrial applications for barium hydroxide will contribute significantly to market growth over the forecast period. Barium compounds are extensively used in chemical industries such as pigments and glass manufacturing companies as raw materials for their efficient production processes. In addition, barium hydroxide can be used in many industries such as cosmetics and pharmaceuticals because it has high solubility rates for highly reactive metals. The growing demand for these end-use industries is expected to have a positive impact on
Challenges in the Barium Hydroxide Market
Some of the challenges in the Barium Hydroxide Market are as follows:
1) Difficult production processes that cause a considerable amount of waste material to be produced.
2) Barium hydroxide is noted to be corrosive, which limits its application.
3) Rising health concerns over the compound are expected to hamper market growth in the coming years.
Key Players in the Barium Hydroxide Market
Some of the players in the Barium Hydroxide Market are Solvay (Belgium), Royal Dutch Shell (Netherlands), Che trade Logistics (Canada), and OMV Aktiengesellschaft (Austria).
Segment Analysis in Barium Hydroxide Market
The most demanded product in the Barium Hydroxide Market is type 2. This segment is expected to grow at a high rate because of their wide applications in the production of Bago. They are used for the production of printing paper, glass, ceramic and other products. Similarly, type 1 finds its use in manufacturing of dyes, pigments and other items.
Barium Hydroxide Market by Application:
The market has been segmented into construction, metals and alloys, industrial chemicals and others. The most widely used application is found to be construction as barium hydroxide is used for making paints, varnishes, glazes etc. Moreover, it is used in building materials like concrete or cement-based adhesives that provides improved ductility and strength properties to them.
Barium Hydroxide Market by End Users:
The end-users have been categorized into construction & electronics industries, chemical industries and power industry among others including pharmaceuticals & cosmetics industries & agricultural chemicals industries among others. Chemical industries accounts for the highest share due to their widespread applications in various industrial processes like personal care and cosmetics production process where they are needed as a raw material in various formulations like hair care products (shampoos), skin care products (moisturizers/cream)
North America is expected to dominate the market due to its larger reach and access to infrastructure.
Impact of Covid-19 on Barium Hydroxide Market
The barium hydroxide market is expected to grow significantly in the next few years on account of the rising demand for barium chemicals from various end-use industries. Barium hydroxide is a white, doorless, and insoluble compound with the chemical formula Ba (OH)2. It is an important component in many industrial and commercial applications such as glassmaking, water treatment, papermaking, pharmaceuticals, textiles, plastics, and greases & lubricants additives.
The outbreak of Covid-19 has created a significant impact on the barium hydroxide market. The lockdown imposed by various governments across the globe has led to the shutdown of factories and production units. This has resulted in a decrease in the demand for barium hydroxide from various industries. Moreover, the transportation restrictions have hampered the supply of raw materials and finished products. However, with the gradual easing of lockdown restrictions and resumption of economic activities, the market is expected to recover in the coming months.
Key developments in the Barium Hydroxide Market
In January, 2019, Huastec Chemical Co. Ltd. announced the launch of its new barium hydroxide product line in China
In May, 2017, Tengizchevroil in Kazakhstan launched a new barium hydroxide production plant with a capacity to produce 5,000 tonnes per year yielding high quality drilling fluid products
In January, 2016 – Tosoh Corp., one of the leading manufacturers of basic chemicals and advanced materials in Japan announced that it is building a new production plant for barium hydroxide at the Tosoh’s Ninyo Complex located in Kosan City, Tokushima Prefecture. This was done to support company’s growth strategy and increase their business market share and profits by expanding their product portfolio and becoming an integrated producer of caustic soda.
Barium Hydroxide Market Scope
|Revenue forecast in 2030
|USD 155.50 million
|CAGR of 3.60 % during 2022-2030
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Solvay (Belgium), Royal Dutch Shell (Netherlands), Che trade Logistics (Canada), and OMV Aktiengesellschaft (Austria).
Key Segments of the Barium Hydroxide Market
Type Overview, (USD million)
• Barium Hydroxide Monohydrate
• Barium Hydroxide Octahydrate
Application Overview, (USD million)
• Barium Hydroxide Monohydrate
• Greases and Lubricants Additives,
• Plastic & Textile
• Water Treatment
Regional Overview, (USD million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa