Barium Nitrate Market - Global Industry Analysis, Size, Share, Trends and Forecast 2015 - 2023
- Transparency Market Research
Barium nitrate is a salt composed of barium and nitrate ion. Chemical formula of Barium nitrate is Ba(NO3)2. Barium nitrate exists as white crystals at room temperature. Barium nitrate is odorless. Barium nitrate is soluble in water and slightly soluble in ethanol and acetone. Barium nitrate can occur naturally as nitrobarite. Barium nitrate can be manufactured synthetically by two processes. In the first process, heated solution of sodium nitrate is combined with barium chloride, which results in separation of barium nitrate crystals from the mixture. The second process requires dissolving small lumps of barium carbonate in nitric acid, letting iron impurities to precipitate, then filter, evaporate, and crystallize. Barium nitrate can be toxic to human beings if came into contact either by inhalation or ingestion. Barium nitrate when comes into contact can cause skin irritation, eye irritation, gastroenteritis, muscle spasm, slow pulse, and respiratory system irritation. The type and severity of symptoms varies depending on the amount of barium nitrate involved and the nature of the exposure.
Barium nitrate is most commonly used as an oxidizer to make green fireworks. Barium nitrate plays a vital role in manufacturing of various explosives used in the defense industry. Baratol which is typically used as explosive, consist of barium nitrate along with TNT and binder. Flash powder, a highly explosive product is produced by mixing barium nitrate with aluminum powder. Barium nitrate is mixed with thermite to form Thermate-TH3, which is important component of military thermite grenades. Barium nitrate also plays a vital role in the manufacturing process of barium oxide. Barium nitrate is used as a plaining agent in the manufacture of special glasses and optical glasses in place of the combination of alkali metal nitrate and arsenic. Barium nitrate is used to manufacture compounds like barium chloride and barium hydroxide.
Increase in the number of application of barium nitrate in the explosive industry is major driver for the growth of barium nitrate market. Barium nitrate is soluble in water and can be found in lakes, rivers, and streams. Because of its water-solubility barium nitrate can be spread over great distances. Fish and other aquatic organisms can absorb this barium nitrate which gets accumulated in their bodies and eventually enter food chain. Thus, barium nitrate can be harmful to environment and other living organisms. This can act as a restraining factor for the growth of barium nitrate market.
Countries such as U.S., China, Russia, Japan, and India invest heavily in defense sector of their country. Eventually the consumption of barium nitrate, which is widely preferred in the production of various explosives, is higher in these countries. Asia Pacific is projected to be the fastest growing market for barium nitrate in the next six years. The main reason for this is the growing demand for barium nitrate market from countries such as China, India and Japan. The Asia Pacific market is expected to be followed closely by North America and European market. The global barium nitrate market is predicted to grow at a double digit CAGR from 2014 to 2020.
Some of the major companies operating in the global barium nitrate market are Solvay S. A., Degussa AG, Barium Chemicals Co. Ltd., Sakai Chemical Industry Co. Ltd., San Yuan Chemical Co. Ltd., Sigma Aldrich Corporation, Angene International Limited, and Hummel Corporation.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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