Global Barium Titanate Market: Introduction
- Barium titanate is an inorganic chemical compound that is primarily available in a white powdered form. It can exist in five phases: hexagonal, cubic, tetragonal, orthorhombic, and rhombohedral crystal structure. It is produced by heating barium carbonate and titanium dioxide.
- Barium titanate as a compound is primarily utilized as a dielectric ceramic material in the manufacturing of capacitors. Furthermore, the compound is often used as piezoelectric material in the production of microphones and other transducers. Barium titanate in its purest form acts as an excellent electrical insulator.
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Properties of Barium Titanate to Drive Market
- The global barium titanate market is driven by a rise in the demand for barium titanate in various applications including capacitor, lead-free piezoelectric devices, electroluminescent coatings, and composite polymer films. Ability of barium titanate to impart ferroelectric properties and its excellent photorefractive characteristics are expected to drive its demand in the near future. Furthermore, high dielectric constant and lead-free nature of barium titanate make it an ideal material to be employed in production of various electronic devices. Consequently, it acts as an environment-friendly alternative to lead zirconate titanate.
- Rise in production of electric vehicles is attributable to an increase in the number of regulation on emission of carbon dioxide, in the wake of growing global warming across the global. For instance, in 2016, Norway announced a proposed ban on cars using fossil fuel and prohibition on the sale of all petrol and diesel vehicles by 2025. The country also launched a new tax system called ‘polluter pays’, in order to prevent the sale of new petrol or diesel cars across the country.
- Increase in number of regulations coupled with a rise in number of initiatives to boost the sale electric vehicles is anticipated to fuel the demand for barium titanate in the near future. For instance, in June 2017, at the Clean Energy Ministerial, a global forum, launched a campaign EV30@30 at its 8th annual CEM meeting, to accelerate the deployment of electric vehicles across the globe. The campaign is aimed at increasing the sales of electric vehicles by 30%, by 2030. An increase of government pressure has led to an increase in shift toward electric vehicles. For instance, according to INTERNATIONAL ENERGY AGENCY, in 2017, sales of electric buses were about 100,000 and sales of two-wheelers were estimated at 30 million; for both modes, the vast majority was in China. High purity barium titanate is primarily used in the manufacture of capacitor for energy storage systems in electric vehicles, which in turn is expected to drive its demand in the near future.
- Rise in middle-class population, changing lifestyle preferences, and an increase in inclination toward utilization of smart electronic devices are likely to drive the demand for consumer electronics in the near future. Moreover, rising disposable income and demand for internet is expected to propel the demand for electronic devices. All these factors have led to an increase in construction of telecommunication towers, production of electronic storage devices, such as portable power bank, computers, data centers, and telecommunication equipment. Capacitors are extensively used for energy storage in electronic devices. Consequently, it is likely to drive the demand for barium titanate in the near future.
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Asia Pacific to Hold Major Share of Global Barium Titanate Market
- Based on region, the global barium titanate market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a leading consumer of barium titanate, globally. Rapid economic growth, improvement in the standard of living of the people, and large-scale urbanization have boosted the demand for barium titanate in Asia Pacific. Rise in CO2 emissions coupled with an increase in government initiatives to reduce the number of petrol- and diesel-based vehicles is a major factor driving the demand for electric vehicles in Asia Pacific. This, in turn, is driving the barium titanate market in Asia Pacific.
- Small number of distributors operate in the market in the Latin America; therefore, the region relies on import from other countries in order to cater the demand for barium titanate across the region.
Key Players in Global Barium Titanate Market
The global barium titanate market is highly consolidated in nature. Major players operating in the global barium titanate market include:
- KCM Corporation Co., Ltd.
- Ferro Corporation
- Fuji Titanium Industry Co., Ltd.
- Samsung Fine Chemicals Co. Ltd
- Shandong Sinocera Functional Material Co.,Ltd
- Nippon Chemical Industrial CO., LTD
- TPL, Inc.
Global Barium Titanate Market: Research Scope
Global Barium Titanate Market, by Form
- Nano Particle
Global Barium Titanate Market, by End-use
- Single Layer Capacitors (SLC)
- Multilayer Ceramic Capacitors (MLCC)
- Embedded capacitors
- Lead-free Piezoelectric Devices
- Electroluminescent Coatings
- Composite Polymer films
Global Barium Titanate Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.
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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.