Global Barium Nitrate Market 2018-2022
About barium nitrate
Barium nitrate is an inorganic chemical compound that is colorless and easily soluble in water. The highly toxic and explosive nature of emitting green flame, barium nitrate is primarily used in the fireworks and pyrotechnics industry.
Technavio’s analysts forecast the Global barium nitrate market to grow at a CAGR of 6.08% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the barium nitrate market. To calculate the market size, the report considers the revenue generated from the usage by the end-users such as fireworks/pyrotechnics, glass, and other industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report –Global Barium Nitrate Market 2018-2022
Technavio recognizes the following companies as the key players in the barium nitrate market: Hebei Xinji Chemical Group, Hummel Croton, Nippon Chemical Industrial, SAKAI CHEMICAL INDUSTRY, Shanxi Jiaocheng Tianlong Chemical Industry, Yingfengyuan Industrial Group
Commenting on the report, an analyst from Technavio’s team said: “The emergence of environment-friendly oxidizers will drive the market growth. Manufactures are using greener raw materials, that replace the raw materials used in pyrotechnic devices in military applications. Also, the innovations in the field of green oxidizers will drive their in the pyrotechnics industry.”
According to the report, the growing fireworks industry will drive the market growth. Barium nitrate finds their use primarily in the fireworks/pyrotechnology industry. APAC is the major producer and consumer of fireworks. With the stringent regulations and growing environmental concerns, manufacturers are focusing on introducing environment-friendly networks.
Further, the report states that the toxic effects of barium nitrate will impact the market growth. Due to the toxicity of barium nitrate, consumption in excess is lethal. This chemical is a strong oxidizer and causes violent combustions and pollution. Also, exposure to humans results in irritation of the skin, eyes, and in the respiratory tract.
Hebei Xinji Chemical Group
Nippon Chemical Industrial
SAKAI CHEMICAL INDUSTRY
Shanxi Jiaocheng Tianlong Chemical Industry
Yingfengyuan Industrial Group"