Global Barium Sulfate Market 2018-2022 | Rising Demand for Polypropylene and Polystyrene Drives Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 28, 2018--The global barium sulfate market research report by predicts the market to post a CAGR of around 4% during the period 2018-2022.
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Technavio predicts the global barium sulfate market to post a CAGR of around 4% by 2022. (Graphic: Business Wire)
A key driver for the global barium sulfate market is the growing paint and coating market. In 2017, the paint and coating market was valued at USD 150.8 billion and is growing at a CAGR of 6%. This market is expected to retain its growth in 2018-2022 owing to the rapid growth of the building and construction sector, which creates a direct growth opportunity for the global barium sulfate market.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing demand for polypropylene and polystyrene in packaging applications as one of the key trends in the global barium sulfate market:
Global barium sulfate market: Growing demand for polypropylene and polystyrene in packaging applications
During the manufacturing of polypropylene and polystyrene, barium sulfate is used as plastic filler. Polypropylene and polystyrene are two of the most common polymers that are used to manufacture plastic packaging materials and other materials such as beakers, bottles, flasks, specimen containers, and test tubes. Polypropylene is characterized by a high melting point, strength, and good chemical resistance that make it fit for hot-fill liquids.
“Polystyrene is a versatile plastic, which can be rigid or foamed. It has a lower melting point than polypropylene. Hence, it is mixed with rubber for packaging and durable applications that require toughness. It is primarily used in protective packaging, foodservice packaging, bottles, and food containers. The consumption of barium sulfate will increase with the increasing demand for polypropylene and polystyrene in packaging applications,” says a senior research analyst at Technavio.
Global barium sulfate market: Segmentation analysis
This barium sulfate market analysis report segments the market by end-user (oil and gas, chemicals, paints, and others) and geography (the Americas, APAC, and EMEA).
The oil and gas segment held the largest barium sulfate market share in 2017, accounting for nearly 71% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2017 with more than 45% of the market share, followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Technavio Research
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PUB: 12/28/2018 07:29 AM/DISC: 12/28/2018 07:29 AM