Barium Market Key Insights of Future Prospects of Soy Flour Market till 2030

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Incremental Opportunities in Semiconductor and Photovoltaic Applications Boost Market Growth

Research labs and other end users are raising the demand for barium titanate. Hence, companies in the barium market are increasing their production capabilities to meet end user demands. For instance, MSE Supplies LLC - a scientific supplier of high-quality crystal substrates, is increasing its efforts to strengthen its supply chain for barium titanate across the U.S. to encourage advancements in research fields such as photovoltaics, material science, and energy storage.

Companies in the barium market are tapping into incremental opportunities in the field of semiconductors, biomedical research, and optical materials to bolster market growth. This is evident since the barium market is projected to reach US$ 4.5 Bn by the end of 2030. As such, researchers are focused on measuring and mapping the resulting stress in barium titanate.

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Oil & Gas Companies Demand Products to Help Dissolve Barium Sulfate Deposits

Barium sulfate deposits have been a common problem in oil field and gas production operations. It has been found that these scales of barium sulfate interfere with fluid flow, resulting in equipment replacement and thus, causing production losses and increased expenditures for oil & gas companies. Hence, companies in the barium market are innovating in products that help in removing and breaking down barium sulfate scales. For instance, FQE Chemicals - a chemical innovator based in Texas, is promoting its products FQE Barium-Clear, which is effective in completely dissolving barium sulfate scales.

Manufacturers in the barium market are showcasing their case studies, which demonstrate the efficacy of their products. This helps manufacturers to boost their credibility credentials in the global market landscape.

Barium Enema X-ray Gains Popularity in Assessment of Lower Gastrointestinal Series

Companies in the barium market are establishing stable revenue streams by expanding their business in photovoltaic applications. Likewise, the barium enema X-ray method is being highly publicized in the market, which helps in the assessment of large intestine involving colon and rectum. The high prevalence of cancer patients worldwide is acting as a key market driver for revenue growth. As such, the market is estimated to progress at a modest CAGR of ~5% during the forecast period.

An alarming number of patients with lower gastrointestinal series, Colorectal cancer, Crohn’s disease, and the likes have catalyzed the demand for barium enema X-ray. Hence, manufacturers in the barium market are capitalizing on this demand to increase the availability of barium enema X-ray in hospital radiology departments and other healthcare centers.

Barium-impregnated Food Materials Help in Management of Dysphagia amidst COVID-19 Outbreak

The coronavirus (COVID-19) pandemic has subsided in China, Europe, and countries of East Asia. However, healthcare and medical centers in countries such as the U.S., Russia, Brazil, and India are still compromised due to the ongoing pandemic. This has raised questions about the management of dysphagia patients with head and neck cancer. Hence, online medical news outlets are increasing awareness about various alternatives to manage dysphagia, which involves the modified barium swallow instrumental study. Companies in the barium market are capitalizing on this opportunity and increasing the availability of barium in pharmacies and clinics.

Barium-impregnated food materials of different consistencies are being used for the treatment of dysphagia patients with head and neck cancer. Since healthcare systems are overwhelmed with the new COVID-19 patients, companies in the barium market are increasing the availability of barium in pharmacies and clinics to meet end user requirements for home care.

Barium Market: Overview

·         Barium is not found as a free element due to its high chemical reactivity. It is found in two mineral ores: barite and witherite. Barium metal can be prepared by electrolysis of molten barium chloride or heating barium oxide with aluminum powder.

·         Akin to other metals, barium is a good conductor of heat and electricity. Barium metal has limited usage, as it is highly reactive. However, many barium compounds are employed in various practical applications. Barium is used in the production of vacuum tubes, especially for televisions, by removing noble gases due to its low vapor pressure.

·         China, India, Morocco, the U.S., Turkey, and Kazakhstan are the major sources of barium ores in the world. The petroleum industry accounts for 90% of the barite (BaSO4) mined in the U.S. 

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Key Growth Drivers of Barium Market

·         Barium compounds are used in the production of alkali-barium silicate glass that is employed in television screens. It protects eyes from harmful X-rays that could cause long-term health issues. Television produces X-rays that are absorbed by glass with minimum amount of heavy oxides (lead, barium, or strontium). Lead glass is commonly used for the funnel and neck of the TV tube, while glass containing barium is used for the screen.

·         Besides the paint industry, barium sulfate is employed in various other industries. It is largely used in glass manufacturing. Barium chloride, which is a barium compound, is also extensively used in glass manufacturing. The compound is made by roasting barite, coal, and calcium chloride. Barium carbonate, which has a wide range of applications, helps in the creation of other products similar to glass. It is used to create specialized glass called optical glass, which is used in eyewear.

·         Demand for glass products is high in various industries such as packaging, construction, and electronics

·         Glass is now being used in the building industry as insulation material, structural component, external glazing material, and cladding material. It is used to make delicate fenestration on facades as well as conventional windows. Various types of glasses are used in construction depending upon different purposes such as natural lighting, doors, windows, and balconies.

·         Increase in usage of back painted glasses as building materials is driving the demand for barium compounds. Glass production in Europe reached 36.5 million tons in 2018, a marginal increase of 0.2% vis-à-vis that in 2017. This indicates that the market is reviving. Since 2016, glass manufacturing companies have been expanding or maintaining their production levels, owing to the revival in demand, primarily in construction, electronics, and packaging sectors.

·         Demand for architectural glass is anticipated to rise in the near future due to increase in construction activities in EMEA (Europe & Middle East) and Asia Pacific. Demand for architectural glass is anticipated to increase in the long term despite the temporary slowdown caused by the COVID-19 pandemic. This, in turn, is likely to propel the demand for barium compounds.

Major Challenges for Barium Market

·         Strict government monitoring and regulations concerning the production of barium sulfate in major countries such as China and India have adversely affected the barium sulfate market. This has led to severe shortage of barium in the market.

·         China accounts for majority of global barite (barium sulfate) supply. However, concerns regarding supply of barites have been rising due to restrictions imposed on mining and depletion of mines. The U.S. is the largest consumer (approximately 2.8 MT per annum) of barite (barium sulfate). It imports more than 70% of annual consumption, primarily from China.

·         Governments of various countries across the world have implemented stringent regulations with regard to the environmental impact of mining. Companies need to adhere to acts such as the Federal Migratory Bird Treaty Act and the U.S. Environmental Protection Act in order to obtain leases and licenses from governments.

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