Global Strontium Market estimated to gain CAGR of 4.91% by 2024, Driven by Its Increased Use across Novel and Traditional Application

The rapidly expanding global market of Strontium market is the focus of a new report that has been added to the wide database of Market Research Hub (MRH). This study is headlined as “Strontium Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024” which encapsulates key aspects about the market on the global and regional level. The study provides forecast during 2016-2024, based on volume (kilo tons) and revenue (US$ Mn) with 2015 as the base year.

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According to the study, numbers of factors are presently approaching the global strontium market to the lead in terms of growth in demand as well as production volumes. Analysts have estimated that the global strontium market to exhibit a CAGR of 4.91% between 2016 and 2024. At this pace, the market is expected to reach 372.09 kilo ton by the end of 2024, which raised at 240.72 kilo ton in the year 2015.

Strontium is the 15th most common element on earth. It is obtained from two primary minerals: Celestine (consisting of strontium sulphate) and Strontianite (consisting of strontium carbonate). Strontium is a soft, silver-white metal similar to calcium. Strontium (Sr) is so reactive that it can ignite when exposed to air, which is why it’s often found covered in a thin layer of oxide. Initially, the report starts by defining the market summary along with the product overview and market shares and top trends. Additionally, it provides a comprehensive view of the strontium market by dividing it into product, application and geography segments.

The product segment includes following:
• Strontium Carbonate
• Strontium Nitrate
• Strontium Sulphate
• Others
Of these, the most consumed strontium compound is strontium carbonate because of its vast number of applications and strontium carbonate is now being one of the primary compounds that are used as the precursor to produce other strontium compounds. On the basis of application, the report covers; Ferrite magnets, Master Alloys, Medical, Zinc Refining, Pyrotechnics, Paints & Coatings and others.

Moreover, the study includes drivers & limitations for the strontium market along with their effect 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. In the subsequent section, regional segmentation has been included. The study analyzes the current and forecasts consumption of strontium, mainly in North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa (MEA). As per the key findings, in terms of production, China, Mexico, and Spain are major countries in the strontium market.

The report further also finds that enterprises working in the strontium market are gaining from a large number of strontium applications, which include the red colorant in fireworks, flares, and other pyrotechnics, manufacture of strontium ferrite for permanent magnets, and preparation of luminous paints and shimmering glass.

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At the end, key players profiled in the report include Solvay, Sakai Chemical Industry Co., Ltd. and BassTech International.

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