Global Strontium Market Forecast 2016-2024 | Strontium Market Registers Steady Growth Riding on Demand for Master Alloys

Strontium, an alkaline earth metal, ranks 15th in terms of abundance among elements found in the earth’s crust, occurring as Strontianite and Celestine mineral ores. Strontium (Sr) is obtained from two primary minerals: Celestine (consisting of strontium sulphate) and Strontianite (consisting of strontium carbonate).

The report estimates and forecasts the strontium market on the global and regional levels. The study provides forecast between 2016 and 2024 based on volume (kilo tons) and revenue (US$ Mn) with 2015 as the base year. It comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage.

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The study includes drivers and restraints for the strontium market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the strontium market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of strontium and global average price trend analysis.

It provides a comprehensive view of the strontium market by dividing it into product, application and geography segments. The products have been segmented into strontium carbonate, strontium nitrate, strontium sulphate and others. The applications are segmented into pyrotechnics, ferrite metals, master alloys, paints & coatings, medical, zinc refining and others. These segments have been analyzed based on historic, present, and future trends.

Global Strontium Market: Key Segments

The product segment includes compounds of strontium such as strontium carbonate, strontium nitrate, strontium sulphate, and others (oxides, peroxides, hydroxides, and chlorides of strontium). The most consumed strontium compound is strontium carbonate because of its vast number of applications and strontium carbonate being one of the primary compounds that is used as the precursor to produce other strontium compounds.

The application segment includes pyrotechnics, ferrite magnets, master alloys, paints & coatings, medical, zinc refining, and others. Strontium is predominantly employed in pyrotechnics and the production of ceramic ferrite magnets. It acts as a luminescence and anti-corrosive factor in paints & coatings and is utilized in small amounts in the medical industry as well.

Strontium ranelate is a strontium salt of ranelic acid which was used in the medicine for osteoporosis. However, in the U.S., the drug for osteoporosis is not approved by the FDA. It exhibited hypersensitivity to some substances in the study carried out on it, and is not recommended to patients suffering from severe renal diseases. Stringent government regulations on the use of strontium compounds could act as a restraint for the overall strontium market.

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Companies Mentioned in Report

The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Solvay, Sakai Chemical Industry Co., Ltd. and BassTech International. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).

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