Global Competitive Analysis of Barium Titanate Market

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Global Competitive Analysis of Barium Titanate 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.

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.

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.

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