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Barium Chloride is an inorganic compound that is readily soluble in water. It is toxic in nature and imparts yellow-green colour to the flame. Thus, it is used in fireworks but its concentration is limited due to its toxic nature. Commercially, it is majorly manufactured by the reaction of 15–18 wt % barium sulphide solution with 31–32 wt % hydrochloric acid. Also, the reaction of barium sulfide solution with chlorine is of commercial interest.
On the basis of form, barium chloride market is segmented into anhydrous and hydrous (dihydrate) forms. On the basis of application, barium chloride market is segmented into steel hardening, chemical & industrial (brine purification, heat treatment salts, other barium salts) applications, pigments, fireworks, wastewater treatment and others.
Key Market Driver -
The increasing production of PVC to boost the demand for barium chloride.
Key Market Restraint -
Implementation of Stringent regulations on Hazardous Chemicals.
From a geographical standpoint, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key market Drivers, the world-wide growing demand for the PVC products has compelled the leading manufacturers of PVC to increase their production capacities. Many key PVC manufacturers are coming with new production capacities over the short term forecast that are expected to boost the demand for barium chloride which is used in the production of tin stabilizers. Also, with the increasing importance of wastewater treatment across the globe, the demand for barium chloride is further expected to increase for water treatment application.
Key market restraints, implementation of stringent regulations on hazardous chemicals is expected to hamper the barium chloride market growth over the forecast period. Barium chloride is used to impart green flame in the fireworks but its use is expected to slow-down with rising awareness. Also, alternatives such as boron carbide are strong substitutes of barium chloride used in the military fireworks.
The global Barium Chloride Market is fairly fragmented and number of global and regional players operate in the market. Some of the prominent players in the global Barium Chloride Market include- Solvay S.A., Nippon Chemical Industrial, American Elements, Chemical Products Corporation, Chaitanya Chemicals, Finoric LLC, Jiaocheng Sanxi Chemical Co.,Ltd, Shandong Xinke Environmental Chemistry Co., Ltd., Weifang Xinyuan Barium Co., Ltd., Yibin Goldway Chemical, Yingfengyuan Industrial Group Limited, Zigong City Dacheng Chemical Manufacture Co., Ltd., and others.
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On geographical basis, Barium Chloride Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-Pacific dominates the barium chloride market on the back of China & India. China is the largest consumer of barium chloride and is poised to remain major consumer over the forecast period on the back of its huge chemical & metal processing industries. However, a few of its barium chloride plants are going to close in 2020 owing to health & environmental concerns arising. North America region is expected to witness steady growths due to slow economic developments and growths over the forecast period. Europe region is also expected to experience similar trend with slight high growth rates on the back of central & Eastern European countries. Latin America is expected to witness low to moderate growth in the barium chloride market with the improvements in the socio-economic conditions in the region. Middle East & Africa region is also expected to experience low to moderate growth over the foreseeable period.
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