Barium nitrate is a salt composed of barium and nitrate ion. Chemical formula of Barium nitrate is Ba(NO3)2. Barium nitrate exists as white crystals at room temperature. Barium nitrate is odorless. Barium nitrate is soluble in water and slightly soluble in ethanol and acetone. Barium nitrate can occur naturally as nitrobarite. Barium nitrate can be manufactured synthetically by two processes. In the first process, heated solution of sodium nitrate is combined with barium chloride, which results in separation of barium nitrate crystals from the mixture. The second process requires dissolving small lumps of barium carbonate in nitric acid, letting iron impurities to precipitate, then filter, evaporate, and crystallize. Barium nitrate can be toxic to human beings if came into contact either by inhalation or ingestion. Barium nitrate when comes into contact can cause skin irritation, eye irritation, gastroenteritis, muscle spasm, slow pulse, and respiratory system irritation. The type and severity of symptoms varies depending on the amount of barium nitrate involved and the nature of the exposure.
Barium nitrate is most commonly used as an oxidizer to make green fireworks. Barium nitrate plays a vital role in manufacturing of various explosives used in the defense industry. Baratol which is typically used as explosive, consist of barium nitrate along with TNT and binder. Flash powder, a highly explosive product is produced by mixing barium nitrate with aluminum powder. Barium nitrate is mixed with thermite to form Thermate-TH3, which is important component of military thermite grenades. Barium nitrate also plays a vital role in the manufacturing process of barium oxide. Barium nitrate is used as a plaining agent in the manufacture of special glasses and optical glasses in place of the combination of alkali metal nitrate and arsenic. Barium nitrate is used to manufacture compounds like barium chloride and barium hydroxide.
Increase in the number of application of barium nitrate in the explosive industry is major driver for the growth of barium nitrate market. Barium nitrate is soluble in water and can be found in lakes, rivers, and streams. Because of its water-solubility barium nitrate can be spread over great distances. Fish and other aquatic organisms can absorb this barium nitrate which gets accumulated in their bodies and eventually enter food chain. Thus, barium nitrate can be harmful to environment and other living organisms. This can act as a restraining factor for the growth of barium nitrate market.
Countries such as U.S., China, Russia, Japan, and India invest heavily in defense sector of their country. Eventually the consumption of barium nitrate, which is widely preferred in the production of various explosives, is higher in these countries. Asia Pacific is projected to be the fastest growing market for barium nitrate in the next six years. The main reason for this is the growing demand for barium nitrate market from countries such as China, India and Japan. The Asia Pacific market is expected to be followed closely by North America and European market. The global barium nitrate market is predicted to grow at a double digit CAGR from 2014 to 2020.
Some of the major companies operating in the global barium nitrate market are Solvay S. A., Degussa AG, Barium Chemicals Co. Ltd., Sakai Chemical Industry Co. Ltd., San Yuan Chemical Co. Ltd., Sigma Aldrich Corporation, Angene International Limited, and Hummel Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.