The new report by EMR titled, “Global Barium Titanate Market Report and Forecast 2021-2026“, gives an in-depth analysis of the global barium titanate market, assessing the market based on its segments like application, others and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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The key highlights of the report include:
Market Overview (2021-2026)
- Forecast CAGR (2021-2026): 6 %
The global market for barium titanate is increasing due to its growing applications in various sectors. Applications are found in capacitors, lead-free piezoelectric devices, electroluminescent coatings and composite polymer films. The capacity and photorefractive properties of barium titanate are likely to contribute to their demand in the years to come. In addition, the high dielectric and lead-free nature of barium titanate makes it ideal for use in the manufacture of various electronic devices. As a result, zirconate titanate can be used as an environmentally safe alternative to further enhance the demand development of barium titanate.
Increased middle-class population, changing lifestyle preferences, and growth in smart electronics are expected to drive consumer electronics growth in the coming years. In addition, the increase in disposable income and the increase in Internet use is projected to increase the production of electronic equipment. Capacitors are widely used in energy storage electronic devices. As a result, demand for titanium barium is expected to continue in the coming years. These factors are expected to fuel the growth of the global barium titanate market.
Industry Definition and Major Segments
Barium titanate is an organic chemical compound produced by the combustion of titanium oxide and barium carbonate. It is a white, powdery, perovskite-shaped substance. Barium titanate is a ferro-electric material with piezoelectric properties and pyro-electric characteristics. Also, one of the main features of the material is its high dielectric constant.
Based on application, the market is bifurcated into:
- Sensors
- Capacitors
- Thermistors
- Opto-Electronic Devices
- Others
The regional markets for Barium Titanate include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Due to the rapid economic growth and urbanisation of the regions, the global demand for barium titanate is dominated by the Asia Pacific region. In particular, the market is driven by the growing demand for electric vehicles in the area. The increase in carbon dioxide emissions, as well as increased government efforts to reduce the number of petrol and diesel-powered vehicles, are key drivers of the increase in demand for electric vehicles in the Asia-Pacific region, which further boosts demand for barium titanite.
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The increase in the production of electric vehicles is the result of an increase in the number of carbon dioxide emission regulations due to increasing global warming worldwide. A growing number of initiatives aimed at raising sales of electric vehicles are expected to fuel demand for barium titanate in the coming years.
Key Market Players
The major players in the market are KCM Corporation, Ferro Corporation, Fuji Titanium Industry Co Ltd, Nippon Chemical Industrial Co Ltd, Shandong Sinocera Functional Material Co. Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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