Los Angeles, December 26, 2019 - QY Research recently published a research report titled, “Global Barium Hydroxide Market Professional Survey Report 2019”. According to the analysis, global barium hydroxide market was estimated at US$105.42 mn in 2018. It is anticipated that the market will extend to US$143.43 mn by the end of 2025, rising at a CAGR of 4.51% during 2019-2025.
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Increasing Demand of Barium Hydroxide in Brick and Tiles to Boost Market
During these past years, the construction pattern has changed as the demand for smooth and attractive architecture for buildings has grown. Barium hydroxide helps to remove efflorescence on buildings, which is deposition of salts on the surface concrete, masonry, or brick work. It extracts the efflorescence by reacting with salt. This is the main factor which has led to increase in the demand for the barium hydroxide, pushing it to reach newer heights in the coming years. Other factors likely to improve the consumption of barium hydroxide are growing industries such as electro mechanical, multi-layered ceramic capacitors, optical modulators, PTC thermistors, sensors, and dynamic RAMS as it is used as a raw material in production of electroceramics.
Barium Hydroxide Octahydrate to Hold a Distinguished Share with Growing Industrial Usage
Barium hydroxide is formed after dissolving barium oxide and water, which is then crystallized to form barium hydroxide octahydrate. The main usage of barium hydroxide octahydrate can be seen in oil additives and engine lubricants for internal combustion engines. It is also used to manufacture glass synthetic rubber and pesticides. The sugar industry is also identified as the key consumer. These factors are likely to offer great growth opportunities in future.
Asia Pacific to Lead as New Infrastructure Projects Remain in Full Swing
In terms of region, the global barium hydroxide market can be segmented into North America, Europe, China, Japan, Southeast Asia and India. Amongst the countries, China holds a major market in barium hydroxide as the government has introduced new infrastructure projects aimed toward development. There has been a major growth in construction industry which will lead to rise in demand for the barium hydroxide market.
Global Barium Hydroxide Market and the Competitive Outlook
Key players are concentrating on adopting strategic costing and improvement of the existing products. For example, China’s largest barium hydroxide enterprise, Yuci Jintai Barium Salt Chemical, developed new strategies to improve the market. They are using advance machinery and strict management. Till now the quality of the product has consistently met national and international market standard. According to the records, Yuci Jintai Barium Salt Chemical is expected to lead the barium hydroxide market in future.
Some of the other players operating in the market are Qingdao Redstar Chemical, Yuci Jintai Barium Salt Chemical, Tianlong Chemical Industry, Solvay, Fengda Chemicals, Langfang Jinnuo Biotechnology, Shandong Xinke, Nippon Chemical Industrial, Chaitanya Chemicals, Yingfengyuan Industrial and Divjyot Chemicals.
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