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According to a new report by Expert Market Research, ‘Global Barium Titanate Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, the global barium titanate market size was valued at USD XX million in 2019 and is predicted to register a CAGR of XX% from 2020 to 2025.
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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.
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.
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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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