Strontium Market to reach $650mn by 2025 | Key Players are Solvay, Química Anastacio, ProChem, Inc., NOAH TECHNOLOGIES CORPORATION

Strontium Market to exceed USD 650 million by 2025; according to a new research report by Global Market Insights. Strong demand for pyrotechnic operations in Asia Pacific is projected to propel the strontium market with a CAGR over 6.5% in the projected time period. The increasing use of firecrackers , on festive occasions in countries such as India and China is a prominent factor towards high regional product demand. Other than that, these pyrotechnic activities are extensively utilized in various entertainment activities such as in cinemas, ceremonies, concerts, and sports events, directly augmenting the strontium market size.

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The mineral is also required in the making of cathode ray tubes (CRT) that are used in television sets and computer monitors. It is broadly used in electronics industry due to its exceptional mechanical and thermodynamic properties. The increasing product application in the electronics industry to manufacture CRT will significantly contribute towards high strontium market demand in coming years.

Stern government standards have been implemented to curb pollution in several countries. Some of these guidelines also constrain the use of fireworks. Since strontium is widely used in fireworks, therefore, regulations imposed to limit their use will have a negative impact on the overall strontium market size.

Strontium sulfate registers a CAGR over 6.5% by 2025. It is popularly used to produce ceramic ferrite magnets that are commonly used in loudspeakers, small motors, toys and other electronic equipment owing to their favorable magnetic properties and low cost.

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Application in medical and dental sector will account for close to a tenth of the strontium market size in 2025. It helps in increasing bone formation and prevents bone loss when used in postmenopausal women with osteoporosis. The synthetic form of strontium is radioactive in nature and is used for killing certain cancer cells. The mineral is also used in treating osteoarthritis as it boosts collagen and cartilage formation in joints. It is also used in making toothpastes for sensitive teeth in order to prevent decay.

Asia Pacific strontium market size is likely to grow at a CAGR of around 6.5% by 2025. Asia Pacific is expected to be the largest regional market owing to the presence of huge deposits and exploration activities, especially in China. Increasing use of firecrackers in Asia Pacific on various occasions is a glaring factor towards the regional product demand which substantially contribute to the global strontium market growth by the projected timespan.

Strontium market share is exceedingly competitive, with several key players accounting for the total industry size. The major players include Sakai Chemical Industry Co., Solvay, BassTech International, Química del Estroncio, Canteras Industriales, Joyieng Chemical Limited, Prochem Inc., Shenzhou Jiaxin Chemical Co., NOAH Technologies Corporation and Chemalloy Co.

Browse key industry insights spread across 225 pages with 312 market data tables & 19 figures & charts from the report, “Strontium Market Size By Product (Strontium Carbonate, Strontium Sulfate, Strontium Nitrate), By Application (Electrical & electronics, Pyrotechnic, Medical & dental, Personal care, Paints & coatings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, South Korea, Malaysia, Indonesia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential Analysis, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/strontium-market

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