Transparency Market Research in its new report titled, “Barium Fluoride Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the barium fluoride market. The TMR report anticipates that the rise in the demand from numerous end-use industries, expansion in the fluoride market, and growth in production and consumption patterns will drive the barium fluoride market during the forecast period i.e, 2018-2026. However, implementation of stringent government regulations and health hazards of barium fluoride are likely to hamper the market, says the report.
The TMR report has segregated the barium fluoride market based on application, end-use industry, and geography. In terms of application, the barium fluoride market is segmented into hydrogen fluoride, ammonium, sulfur hexafluoride, calcium fluoride, sodium fluoride, and others. The need for barium fluoride is rising, as the chemical is a versatile intermediate and building block in various applications. Based on end-use industry, the barium fluoride market is divided into aluminum metallurgy, pharmaceuticals, optical material, spectroscopic components, oil refining, food, and others. Barium fluoride is majorly used in the aluminum metallurgy, optical materials, and production of welding agents. The aluminum metallurgy segment is expected to dominate the barium fluoride market during the forecast period owing to the extensive usage of the compound in enamel and glazing frits production and as flux and pacifying agent. This compound is also used in the production of welding agents, and rods. Furthermore, rise in demand for barium fluoride in oil refining and optical materials is projected to drive the market during the forecast period.
On a geographical stand, the barium fluoride market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among these, Asia Pacific holds the major share of the market due to the increase in consumption of inorganic compounds in end-use industries such as aluminum metallurgy, pharmaceuticals, and optical materials. Rise in demand for barium fluoride in the production of welding agents is also anticipated to drive the barium fluoride market in Asia Pacific during the forecast period. China, Japan, and India are the key countries of the barium fluoride market. The barium fluoride market in North America is also expanding significantly, Growth in investments and rise in per capita income in the region are likely to drive the market during the forecast period. The barium fluoride market in Europe has been expanding substantially due to the increase in production capacity of barium fluoride and improvement in infrastructure facilities in aluminum refineries. Latin America and Middle East & Africa also account for significant market share. The report ascribes this growth to the increase in demand for barium fluoride in key industries such as pharmaceutical, oil refining, and aluminum metallurgy in these regions.
Some of the prominent players operating in the barium fluoride market include Solvay S.A., GFS Chemicals, Inc., International Crystal Laboratories, All-Chemie, Ltd., Barium & Chemicals, Inc., Super Conductor Materials, and Triveni Interchem Private Limited.
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