An extensive volume of barium nitrate is being used in the production of ceramic powder, which is an essential ingredient for electronic components such as capacitors, semiconductors, and superconductors. Ceramic powder coating is used in the electronics industry for device packaging, specialized mechanical components, superconductor devices, and semiconductor devices. Thus, the burgeoning demand for electronic products, on account of the rising disposable income of people and soaring need for technologically advanced devices, will create a huge requirement for this salt globally.
Moreover, its increasing usage as a pyrotechnic colorant will help the barium nitrate market progress at a CAGR of 5.5% during 2016–2022. The market was valued at $2,368.3 million in 2015, and it is expected to generate $3,451.8 million revenue by 2022. The pyrotechnics/fireworks industry uses generic barium nitrate products as an oxidizer, to make green fireworks. Additionally, the compound is also used in tracer bullets, which enable the shooter to trace the trajectory of a bullet with the naked eye.
Furthermore, a large volume of barium nitrate is being used as an oxidizer in the glass industry, to prevent spontaneous crystallization during the production process, as it helps in improving opacity and homogeneity in porcelain enamels. Moreover, crystalline powder serves as an important ingredient in optical glass. Additionally, the compound is consumed in the military industry for multiple applications. Thus, the mounting investments being made in the military sector, owing to the expanding military processes and security risks, will propel the consumption of barium nitrate.
Apart from the electronics, military, glass, and fireworks/pyrotechnics industries, the vacuum tube and chemical industries also use a considerable volume of this salt. At present, the fireworks/pyrotechnics industry uses the highest volume of the compound owing to the trend of bursting firecrackers for celebratory purposes. For instance, the people of New York burst huge quantities of firecrackers during the new year and Independence Day celebrations. Similarly, the increasing use of firecrackers during wedding processions and sports events will propel the consumption of this chemical in the fireworks sector.
Barium Nitrate Market Size, Share, Development, Growth and Demand Report@ https://www.psmarketresearch.com/market-analysis/barium-nitrate-market
Currently, the requirement of end-use industries for this chemical is met by Xilan Chemicals Co. Ltd., Jiaocheng Sanxi Chemical Co. Ltd., Angene International Ltd., Tennants Distribution Ltd., Hummel Croton Inc., Solvay, Hebei Xinji Chemical Group Co Ltd., SNDB, Basstech International Llc, and Sakai Chemical Industry Co. Ltd. Nowadays, these companies are primarily focusing on improving the product quality, reducing product cost, and enhancing supply reliability, to reach out to a greater number of customers across the world.
According to P&S Intelligence, Asia-Pacific (APAC) led the barium nitrate market in the preceding years, and it is expected to retain the leading position in the upcoming years. This can be attributed to the flourishing electronics industry, on account of the mounting disposable income of people, and escalating use of the compound in the fireworks sector. Additionally, the consumption of barium nitrate in military and pyrotechnics applications is increasing in the region.