[FURL=https://www.industryarc.com/Report/15951/barium-sulphate-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Barium Sulphate Market[/FURL] Barium Sulphate Market size is expected to be valued at US$365.4 million by the end of the year 2026 and is set to grow at a CAGR of 2.6% during the forecast period from 2021-2026. Barium sulphate is an inorganic compound that is odorless and insoluble in water. Barium sulphate has exceptional properties such as low solubility and high level of clearance from the body, which makes it a good radiocontrast agent and is used as barium meal in diagnostic procedures. Additionally, barium sulphate is also a white transparent pigment, which is used as lake pigment in cosmetics and personal care products. Furthermore, the increase in demand from the packaging industry is also driving the barium sulphate market.Key Takeaways
Asia-Pacific market held the largest share in the barium sulphate market owing to increase in demand from the medical and healthcare industry for barium meal from countries like China, India and Japan.
The increase demand from the plastic industry is driving the demand for barium sulphate as it is used as plastic fillers.
The growing construction and building industry is also driving the demand for barium sulphate as it is used in a wide range of applications in the construction sector.
Amid the Covid-19 pandemic, the barium sulphate market witnessed a considerable amount of growth owing to the increase in demand for radiocontrast agent in the healthcare industry.
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Barium Sulphate Market Segment Analysis – By Geography
Asia-Pacific region held the largest share of 47% in the Barium Sulphate market in the year 2020. The increase in demand for barium sulphate from various end use industries is driving the demand for barium sulphate in the Asia Pacific region. According to Indian Brand Equity Foundation, the Indian government announced an investment of US$102.49 billion on oil and gas infrastructure in the next five years. Furthermore, according to India Brand Equity Foundation (IBEF), the pharmaceutical industry in India is estimated to be around US$41 billion by the end of 2021. Additionally, the investments in the pharmaceutical industry in India stood at USS17.5 billion in the year 2020 and the Indian government further announced an incentive scheme in February 2021 which will attract investments of US$2.07 billion into the sector.
Barium Sulphate Market Drivers
Increasing Demand from plastic industry
Growing building and construction industry
Barium Sulphate Market Industry Outlook
Major players in the Barium Sulphate Market include are Solvay Chemicals Inc., Sakai Chemical Industry Co. Ltd., GFS Chemicals Inc., Fuhua Chem, NOAH Technologies Corporation, Hebei Xinji Chemical Group Co. Ltd., Nippon Chemical Industrial, Jingyan Chem (H.K.) Ltd., Cimbar Performance Minerals, Chemical Products Corporation
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