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Strontium Carbonate Market Current Review and Strategic Forecast 2024 - 2031 | Solvay, Muby Chemicals, American Elements
Strontium Carbonate Market
The strontium carbonate market is estimated to be valued at USD 228.1 Mn in 2024 and is expected to reach USD 274.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.
Market Dynamics:
The strontium carbonate market is expected to grow at a significant rate owing to rising demand from the fireworks industry across the world. According to recent estimates, the global fireworks market reached a value of US$ 25 billion in 2022 and is expected to grow further driven by celebrations around festivals and events. In addition, increasing use of strontium carbonate in the manufacturing of ferrite magnets used in electronic products is another factor contributing to the market growth over the forecast period 2024-2031. Ferrite magnets find widespread applications in hard disk drives, cell phones, and home appliances among others.
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Strontium Carbonate Market Drivers:
Increasing Demand from Glass Industry
The glass industry is one of the largest end-use industries of strontium carbonate. Strontium carbonate is used as a decolorizing and degraying agent in glass manufacturing. It improves the optical and physical properties of glass when added in small quantities. The global glass industry has been growing steadily over the past few years driven by rising construction activities and increasing automobile production. The construction industry is a major consumer of glass for windows, doors, facades, and other architectural applications. Moreover, the automotive glass market is also expanding due to strong demand for passenger cars and commercial vehicles across the world. This increasing consumption of glass will positively influence the sales of strontium carbonate during the forecast period.
Strontium Carbonate Market Opportunity:
Rising Usage in Ceramic Industry
Within the ceramic industry, strontium carbonate has emerged as an important ingredient for manufacturing ferrite ceramics, which find widespread applications as integral parts in electronics and telecommunications. Ferrite ceramics have excellent magnetic properties and help in components miniaturization. Strontium is commonly used as a dopant or sintering aid in ferrite ceramics to improve key characteristics like resistivity, dielectric constant and magnetic permeability. With rapid technological evolution in electronics, wireless communication systems and electrical equipment, the demand for advanced ferrite components is consistently rising. This growing consumption of ferrite ceramics from the electronics sector will spur the utilization of strontium carbonate in the coming years. Ceramic product manufacturers are working towards developing newer grades of strontium-doped ferrites to meet evolving industry requirements. This presents lucrative opportunities for strontium carbonate producers to enhance their competitiveness in the ceramic raw materials space.
Strontium Carbonate Market Trends:
Rising Adoption of Strontium Carbonate in Laser Industry
The laser industry has emerged as a promising end-use segment for strontium carbonate in recent years. Strontium carbonate acts as an efficient laser-stimulated luminescence material which emits brighter red light under laser excitation. It is increasingly replacing traditional luminescent agents like rhodamine and fluorescein in high-power laser applications. Strontium carbonate laser dyes exhibit high photon yield, narrow emission spectrum and exceptional photostability. Owing to these superior optical properties, strontium carbonate finds usage in various laser-based applications like light shows, displays, biomarkers, and biomedical imaging. With ongoing research & development, newer approaches are being explored to improve the lasing efficiency and brightness of strontium carbonate. Going forward, its
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Top Companies Featured in This Report:
β’ Solvay
β’ Muby Chemicals
β’ American Elements
β’ Celtic Chemicals Ltd.
β’ Zaozhuang
β’ Yongli Chemical Co. Ltd.
β’ Sakai Chemical Industry Co. Ltd
β’ Shijiazhuang Zhengding.
β’ Hebei Xinji Chemical Group Co. Ltd.
β’ Jinshi Chemical Co. Ltd.
β’ Abassco
β’ Vishnupriya Chemicals
β’ Haihang Industry
β’ CDH Fine Chemical
β’ Wego Chemical Group
β’ Joshi Agrochem Pharma Pvt Ltd.
β’ Ataman Kimya
Market Segmentation:
By Product Type:
β’ By Grade: Electronic Grade and Industrial Grade
By Applications:
β’ By Application: Glass and Ceramics, Pyrotechnics and Signals, Electronics and Semiconductors, Paints and Coatings, and Others (Metallurgy, Pharmaceuticals, etc.)
Key Regions/Countries Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
π What was the size of the Strontium Carbonate Market in 2024, and what is the projected value by 2031?
π What is the present global market landscape for the Strontium Carbonate Market?
π What strategies offer optimal opportunities for growth maximization in the business?
π What recent trends are shaping the Strontium Carbonate Market?
π How does the market share of Strontium Carbonate Market revenue, sales, and size vary across specific geographical regions?
π Who are the prominent industry players in the Strontium Carbonate Market?
π Which segment of the Strontium Carbonate Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Strontium Carbonate sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
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