Strontium Nitrate Market (Impact Of COVID-19) Growth, Overview With Detailed Analysis 2022-2028

Precision Business Insights published a research report on "Strontium Nitrate Market: By Grade, By End User and Geography - Global/Region/Country Forecast to 2028"

Strontium nitrate is a salt of strontium, the 15th most plentiful element in the universe. In pyrotechnic applications, strontium nitrate is commonly used. Strontium ignites with a bright red flame, and there are no other materials that compare to it in terms of performance. Strontium nitrate, along with other strontium compounds such as strontium carbonate, strontium oxalate, strontium sulfate, and strontium chlorate, is widely used in pyrotechnics. Strontium nitrate is a water-soluble solid that consists of white or light-yellow crystals. Oxidizing characteristics of strontium nitrate Strontium carbonate & nitric acid are combined to make it.

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Increasing use of fireworks as well as other pyrotechnics during celebrations and other entertainment industries also including concerts, movies, and sports events, among others, is a key factor driving market growth. Rising innovation of environmentally friendly flares, as well as increased expansion of the electronics and automotive industry sectors where strontium nitrate is used for pyrotechnics, will drive product demand. Furthermore, strontium nitrate is used to kill cancer cells and can enhance bone growth and prevent bone loss in postmenopausal women with osteoporosis. The increased use of strontium to combat tooth decay will further expand the strontium nitrate market. However, increased risks of explosion and fire from improper handling of strontium nitrate is a prominent issue acting as a restraint, and will pose a further obstacle to the strontium nitrate market's growth over the forecast period.

On the basis of Product, the market is fragmented into Strontium sulfate, Strontium carbonate, Strontium nitrate, and Others. On the basis of Application, the market is categorized into Electrical & electronics, Pyrotechnic, Personal care, Medical & dental, and Others.

Due to increased consumption of strontium as well as its compounds in electrical and electronics & pyrotechnic sectors in countries such as India and China, as well as the availability of large celestine mineral reserves in this region, Asia-Pacific dominates the strontium nitrate market. In 2016, China had the world's greatest celestine procurement, with over 360 kilo tonnes coming from its mines. Furthermore, the increased use of firecrackers on festive occasions in these countries is a major contributor to strong regional product demand. Furthermore, China and India are important producers of fire crackers, which contribute significantly to regional industry growth, directly increasing the strontium market size over the forecast period. Because of the growing importance of the explosives and pyrotechnics industries in these countries, North America and Europe are predicted to expand the most in the strontium nitrate market.

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There are several industry players working in the Strontium Nitrate Market, which include Solvay, New Bright Alloychem Private Ltd., Yingfengyuan Industrial Group Limited, Jost Chemical Co., Columbus Chemical Industries, Inc.

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