Strontium Market Overview with Qualitative analysis, Competitive landscape & Forecast 2030 key players: Solvay (Belgium), SAKAI CHEMICAL INDUSTRY CO., LTD. (Japan)
Research Reports
May 25, 2022
Global Strontium Market Overview
The increased use of firework displays and other pyrotechnics all through festivals and other forms of entertainment such as concerts, movies, sporting events, and so on will boost the strontium market size by 2030. Strontium is a highly reactive metallic element that occurs naturally and is primarily mined from the minerals celestine and strontianite. Synthetic strontium is radioactive in essence, whereas natural strontium isn’t really harmful to human health. The mineral is also broadly used in the electrical & computer industry sectors, primarily in the production of cathode ray tubes (CRT) for television sets. Previously, 75 percent of strontium production was used to make CRT tubes, which were used to eliminate x-ray emission from television sets. However, due to advancements in modern display methods, this application is declining.
The Strontium Market is projected to register a CAGR of ?5.50% during the forecast period 2021 to 2027. The pyrotechnic industry currently has the most product applications due to the deep red colour provided by strontium carbonate in fireworks and flares. Furthermore, the development of environmentally friendly flares will increase product demand within the expected timeframe. For example, researchers from the United States Army Research Laboratory and the Ludwig Maximilian University in Munich, Germany, have established an ecologically responsible red light flare that is popular in fireworks displays and among soldiers who use them as signaling devices in training and on the battlefield. Similarly, product innovations will boost the strontium market size over the forecast period.
By 2030, the introduction of strontium ranelate may also open up new opportunities for product share of the market in the medical and dental industries. When used in postmenopausal women with osteoporosis, this form of strontium is used to kill cancer cells and can increase bone creation and prevent bone resorption. It’s also used to reduce the risk of infection, which means the strontium market size could expand significantly over the forecast period. Strontium market is anticipated to be limited by 2030 due to the reactive nature of the nutrient and stringent federal regulations for controlling extraction emission levels in order to improve air quality. In the coming years, the impact of laws requiring limited use of the product will unquestionably have an effect on the strontium size of the market. Moreover, synthetically established strontium possesses radioactive characteristics which can be harmful for human life.
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Strontium Market: Prominent Players
Some of the manufacturers operating in the global strontium market are Solvay (Belgium), SAKAI CHEMICAL INDUSTRY CO., LTD. (Japan), Basstech International (US), Canteras Industriales, S.L. (Spain), QUIMICA DEL ESTRONCIO, S.A. (Spain), JOYIENG CHEMICAL LIMITED (China), SHENZHOU JIAXIN CHEMICAL CO., LTD. (China), ProChem, Inc. (US), CHEMALLOY (US), and Noah Technologies Corporation (US).
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Market Segmentation
By Product
- Strontium Carbonate
- Strontium Nitrate
- Strontium Sulfate
- Others
By Application
- Pyrotechnics
- Ferrite Magnets
- Master Alloys
- Paints & Coatings
- Medical
- Zinc Refining
- Others
By Region
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
Rest of Middle East & Africa
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Regional Classification
In 2017, Asia Pacific generated the most revenue of more than USD 150 million compared to any other region, owing to a gradual increase in consumption of strontium and its substances in electrical & electronics and pyrotechnic industry sectors in countries such as India and China. Because of the presence of massive celestine mineral deposits in China, Asia Pacific is expected to be the largest strontium market.
Industry News
Muby Chemicals, Solvay, American Elements, Celtic Chemicals Ltd., Sakai Chemical Industry Co. Ltd., Zaozhuang Yongli Chemical Co. Ltd., Shijiazhuang Zhengding Jinshi Chemical Co. Ltd., Hebei Xinji Chemical Group Co. Ltd., Prakash Brothers, and Abassco are some of the key players in the global Strontium Carbonate Market.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-Commerce
4.1.4 End User
4.2 Porter’s Five Forces Analysis
4.2.1 Threat Of New Entrants
4.2.2 Bargaining Power Of Buyers
4.2.3 Bargaining Power Of Suppliers
4.2.4 Threat Of Substitutes
4.2.5 Intensity Of Competitive Rivalry
5 Market Dynamics Of Global Strontium Market
5.1 Introduction
5.2 Drivers
5.3 Restraints
5.4 Opportunities
5.5 Challenges
5.6 Trends/Technology
Continue…
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