Barium Titanate is an organic chemical compound which is obtained by heating titanium oxide and barium carbonate. It is a white powdery material characterized by a perovskite structure. Barium Titanate, in its pure form, does not conduct electricity, however, it can be made into a semi-conducting material by the process of doping with materials such as scandium. Moreover, Barium Titanate is a ferroelectric material exhibiting piezoelectric properties and pyro electric properties. Also, a high dielectric constant is one of the key characteristics of this material. Another important attribute of barium Titanate material is that it is free from lead, rendering it an effective environmentally friendly alternative. These aforementioned properties of barium Titanate have resulted in its emergence as a useful material for a multitude of applications across diverse sectors. It is used in production of a variety of electronic components such as capacitors (Multilayer Ceramic Chip Capacitors), piezoelectric transducers, sensors, thermistors and SONAR devices among the others. Barium Titanate also finds application in electric vehicles wherein it is used in barium Titanate capacitor energy storage system.
Barium Titanate market is expected to register a steady year-on-year growth throughout the forecast period. The steady economic growth in developing regions of the globe, especially of the countries in Asia Pacific region coupled with steady electronics industry in this regions is expected to in turn fuel the demand for Barium Titanate during the forecast period. Thus, the growth of end use application sectors is expected to emerge as the major growth driving factor for global barium Titanate market during the forecast period. Moreover, one important aspect of barium Titanate is that it is a lead free environmentally friendly piezo-electric material. Thus, growth of global Barium Titanate market is expected to be driven primarily by the growth in demand for environmentally friendly materials. Growth in demand for electric vehicles from regions across the globe is expected to act as another growth driving factor for global barium Titanate market over the forecast period.
Depending on the type of applications, global Barium Titanate market can be segmented into the following key market segments:
On the basis of geographic regions, global Barium Titanate market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. Among the aforementioned regions, Asia Pacific is expected to witness a relatively faster CAGR as compared to that of other regions of the globe during the forecast period.
Some of the identified major players operating in the global Barium Titanate market are as follows:
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Regional analysis for Barium Titanate Market includes