According to the latest research study by Fact.MR, barium sulfite market is projected to witness significant growth in terms of volume and value during the forecast period. It is a white powder and slightly soluble in water, which is highly been utilized in paper manufacturing industries.
Consumption of barium sulfite is set to witness considerable sale in near future across the globe owing to provide a promising stance to the manufacturers. Comparatively low demand from the end-use industry has been observed in early 2020, which is likely to bottleneck the opportunities in the next couple of years. This has resulted in facilitating a moderate growth rate of 5.0% during the forecast period 2021-2031.
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Some of the leading manufacturers and suppliers of barium sulfite include Sakai Chem, Solvay , AMERICAN ELEMENTS , Barium & Chemicals, Cimbar, Fuhua Chem , Huntsman , Nippon Chemical Industry , Jiaxin Chem , Onmillion Nano Material, Redstar , Suns Chemical & Mineral , Xinji Chemical and other prominent companies.
Many leading manufacturers across the globe have longstanding contracts with end-use industries to supply barium sulfite directly. Along with it, key manufacturers have reorganized their supply chain network with the specialty stores, multi brand stores and e-commerce platforms to gain more value. The barium sulfite market is the highly fragmented in nature with abundant number of players operating globally.
In oil & gas industries barium products such as barium sulfite and barium sulfate are highly been used for the production of drilling fluids. Since it’s highly dense in nature it eliminates the risk of kicks and blowout in the oil & gas industries globally.
The white appearance of barium sulfite is given an upper edge to the consumption. Due to this property the paper manufacturing industries hold noteworthy market shares and anticipated to follow the same trend.
Chemical industries have witnessed significant demand for the manufacturing of paints and plastic raw materials in historical years and most likely to continue their surge in consumption during the forecast period.
Pharmaceutical industries and laboratories across the globe are also creating numerous opportunities for manufacturers and predicted to provide a spurt in sales during the assessment period.
In addition to this, barium sulfite is also used extensively in the agriculture sector for pH control and other qualities of soil. Due to this, the agriculture sector is also likely to provide momentum to the sale.
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The chemical sector around the globe has been impacted by COVID-19 induced slowdown and had affected the global barium sulfite sales. As it is highly been utilized in the manufacturing of paints and polymer in chemical industries. Along with it, laboratory activities around the globe also account for significant demand.
Barium sulfite is also used extensively in paper manufacturing industries, due to its white appearance. Although in early 2020 the production rate was constrained and the distribution chain was disturbed which has resulted in declining sales for barium sulfite.
Asia Pacific is one of the largest markets for barium sulfite globally. The Asia Pacific’s production is set to tread on the historic trend during the forecast period. Demand is most likely to remain subdued in the next couple of years, as a number of end-use industries make a gradual recovery.
Consumption of barium sulfite in the Asia Pacific region is led by the paper manufacturing, chemical, and construction sectors. The quick urbanization in countries like India and China has witnessed infrastructure development, which has created a plethora of opportunities for manufacturers. Moreover, the consumption from the agriculture sector also accounts for significant sales in the Asia Pacific.
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