The global barium fluoride (BaF2) market is segmented by application into metal manufacturing, glass etching & polishing, production of gasoline, stainless steel pickling, UV and IR-spectroscopy, welding agents and others; by end-user industries into aluminum metallurgy, optical market, oil refining, pharmaceuticals and others and by regions. As per data from Statistic Finland, there has been rise in global metal volume index annually from 2015 to 2018. In 2015, the metal annual change was decreasing by 1.7% which rose to 6.5% in 2016, then 6.6% in 2017 and finally 6.8% in 2018. This rise in metal market demands for more barium fluoride which is anticipated to drive the Barium Fluoride Market at a significant rate during the forecast period i.e. 2019-2027.
Barium fluoride has huge applications in substances or in mixtures for metallurgical, welding, soldering agents, glass manufacturing and many more. Presently the global Barium Fluoride market is observing vibrant growth owing to increasing demand in metallurgical sector and optical market.
Asia-Pacific is comparatively showing the highest market share and growth with relatively high CAGR and will continue to show rapid growth during the forecast period due to its high demand for barium fluoride in optical materials especially in China and India. North America will experience the rapid increase in the production capacity due to wide range of applications. North America will contribute to the largest share in the market during the forecast period. The expansion of Barium Fluoride market in its wide range of applications will relatively increase in the upcoming years due to rapid technological development and research over its products and applications.
Steady Application in Optical Industry
Barium fluoride is widely used in optical industry as the crystals exhibit an excellent broadband transmittance and has unique optical properties which can open up a variety of innovative applications covering whole visible range till the mid-infrared wavelength range. Barium fluoride is more sensitive to cooling down than being heated up. This special characteristic needs appropriate precautions and to be used like conventional optical glasses. These properties and applications in the optical industry will helps to achieve a steady growth during the forecast period.
However, development of barium fluoride applications can be harmful when used for a prolonged period because of its high concentration which can cause bone fluorosis, irritation in eyes; harmful if inhaled and can cause several breathing problems. Moreover it is also harmful to aquatic life. Though Barium Fluoride is in very high demand in the market because of its wide range of products and utilities but these disadvantages regarding human health and environment will act as a hindrance to the market growth over the forecast period.
The report titled “Global Barium Fluoride Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Barium Fluoride market in terms of market segmentation and by application, by end-use industries and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global barium fluoride market which includes company profiling of Barium & Chemicals Inc, Solvay, International Crystal Laboratories, GFS Chemicals Inc., All-Chemie Ltd., Triveni Interchem Private Limited, Barium & Chemicals Inc., Wego Chemical & Mineral Corp, Super Conductor Materials and Alfa Chemical Corp . The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Barium Fluoride market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.