Precipitated Barium Sulfate Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies by 2031
Europe Precipitated Barium Sulfate Market: Introduction
Transparency Market Research delivers key insights on the precipitated barium sulfate market in
Europe. In terms of revenue, the precipitated barium sulfate market in Europe
is estimated to expand at a CAGR of ~4% during the forecast period, owing to
numerous factors regarding which TMR offers thorough insights and forecasts in
its report on the precipitated barium sulfate market in Europe.
The precipitated barium sulfate market in Europe is driven by the
rise in the demand for precipitated barium sulfate in the paints & coatings
application.
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Europe Precipitated Barium Sulfate Market: Key Players
The precipitated barium sulfate market in Europe is consolidated
with the presence of a few players. Key players operating in precipitated
barium sulfate market in Europe are Nippon Chemical Industrial Co., Ltd.,
Venator Materials PLC, Viaton Europe, Solvay, Merck KGaA, Prackash Chemicals,
Alfa Aesar, and Shenzhou Jiaxin Chemical Co., Ltd.
Europe Precipitated Barium Sulfate Market: Dynamics
The significant growth of paints & coatings and rubber
industries is estimated to fuel the consumption of precipitated barium sulfate,
especially in Germany. This, in turn, is anticipated to drive the precipitated
barium sulfate market in Europe. Precipitated barium sulfate is employed as a
filler agent in paints, coatings, rubber, and plastics, as it possesses
beneficial properties such as chemical inertness, nontoxicity, and high
specific gravity.
Precipitated barium sulfate is used as a filler to create colorful
plastics, as it is effective in improving the intensity, stiffness, and
abrasive strength. This makes the plastic attractive in appearance and stronger
in strength.
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Precipitated barium sulfate is widely used in the paints industry
as an extender for primers, as it provides clean whiteness. It is useful for
walls and undercoats to beautify smooth walls. Precipitated barium sulfate is
an ideal alternative for expensive materials used in paintings such as crypton,
basofor, monox, and titanium dioxide, which are used for filling. These
characteristics of precipitated barium sulfate and its usage in the paints
industry are expected to boost the demand for precipitated barium sulfate in
the near future.
Precipitated barium sulfate is also used as a weighting agent in
the oil & gas industry. The demand for oil in Europe has reduced from 25% in 2019 to 8% in 2021 due
to the COVID-19 pandemic. The demand for energy is expected to recover at a
significant pace in Europe after a significant decline. This is likely to boost
oil & gas exploration and drilling activities. Thus, increase in production
of oil and gas is anticipated to propel the precipitated barium sulfate market
in Europe.
Europe Precipitated Barium Sulfate Market: Prominent Country
Germany is a major consumer of precipitated barium sulfate in
Europe. The increase in the usage of precipitated barium sulfate in the
automotive industry is driving the market in the country. The market in Germany
is projected to expand at a significant pace during the forecast period, as
paints & colorants and oil & gas drilling sectors in the country are
expanding at a rapid pace.
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In the U.K., precipitated barium sulfate is primarily consumed in
applications such as paints & coatings (as a filler), rubber & plastics
(as a filler), pharmaceuticals, and oil & gas drilling. Paints &
coatings and plastics & rubber sectors in the country are expanding. This
offers significant opportunities to the market in the region.
Sweden, Germany, Norway, Denmark, and the U.K. are shifting toward
renewable energy to reduce their carbon footprint, thereby decreasing the
consumption of fossil fuel-based energy. This trend is likely to gradually
alter the consumption pattern of precipitated barium sulfate in Europe during
the forecast period.
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