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Global Barium Titanate Market to Grow at a CAGR of 6% During 2021-2026, Aided by the Rising Demand for Environmentally Friendly Products
According to a new report by EMR titled, ‘Global Barium Titanate Market Report and Forecast 2021-2026’, the global market for barium titanate is expected to grow at a CAGR of 6% in the forecast period of 2021-2026, driven by the rising demand for electric vehicles.
The global market for barium titanate is primarily being driven by the rising demand for environmentally friendly materials. The rising demand for electric vehicles is also one of the major trends driving the growth of the industry. The demand is particularly higher in the developing regions, such as the Asia Pacific. The growth in the demand for electric vehicles significantly impacts the environment in a positive way. The rising production of the electric vehicles is a result of the increasing regulations to control the pollution caused by the emissions from the vehicles, which is leading to increased global warming. The rising number of initiatives taken to boost the sales of electric vehicles is likely to propel the market growth for barium titanate in the coming years.
The rising competition among the key players is also propelling the growth of the industry. Ferro Corporation (NYSE: FOE) is one of the leading key players in the barium titanate industry. It produces the product by solid-state synthesis. These find wide applications in the application sectors, especially in electronic devices. The growth of the company in the industry is likely to boost the growth of the market.
Market Analysis by Applications and Region:
- Barium titanate finds extensive applications in sensors, capacitors, thermistors, and opto-electronic devices, among others.
- The regional markets for barium titanate include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The rising disposable incomes and the rise in internet usage are anticipated to increase the electronic equipment production, furthering the growth of the barium titanate industry.
- The growth of the barium titanate industry is being driven by its rising applications in various sectors.
- The capacity and photorefractive properties of the product are expected to boost the demand.
- The growing middle-class population, changing lifestyle habits, and the rise in smart electronic equipment are likely to drive the consumer electronics growth in the forecast period, thus, providing further impetus to the market growth for barium titanate.
Key Offerings of the report:
- The EMR report gives an overview of the global market for barium titanate for the periods (2016-2020) and (2021-2026).
- The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and major regions of barium titanate.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global barium titanate market are KCM Corporation, Ferro Corporation, Fuji Titanium Industry Co., Ltd., Nippon Chemical Industrial CO., LTD., and Shandong Sinocera Functional Material Co., Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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