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Global Strontium Market - Industry Analysis, Size, Share, Growth, and Forecast 2016 - 2024
Global Strontium Market: Overview
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).
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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.
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.
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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.
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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.
Fireworks exhibitions usually includes bright colors, one of them being red. Also, red is a primary color from which other shades can be created. Exhibition fireworks and crackers are a major part of concerts and other live performance shows used for enhancement purposes. Pyrotechnics used for exhibition purposes includes fireworks, flares, crackers, and flashpapers. Strontium compounds being used as red colorant providers acts as a driver for the strontium market.
Global Strontium Market: Regional Segments
Regional segmentation includes the current and forecast consumption of strontium in North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). Market segmentation includes demand for consumption in all the regions individually. In terms of production, China, Mexico, and Spain are major countries in the strontium market. The U.S., the U.K., France, Italy, China, India, and a few other parts of Asia are major consumers.
Global Strontium Market: Scope of Report
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. The report 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. 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.
Global Strontium Market: Research Methodology
The report includes Porter’s Five Forces Model to determine the degree of competition in the strontium market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and regions have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for strontium between 2016 and 2024.
Secondary research sources that were typically referred to include, but were not limited to, U.S. Geological Survey, International Trade Centre (ITC), British Geological Survey, American Pyrotechnics Association, United Nations Comtrade Database, company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
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).
The global strontium market has been segmented as follows:
Strontium Market – Product Analysis
Strontium Carbonate
Strontium Nitrate
Strontium Sulphate
Others
Strontium Market – Application Analysis
Pyrotechnics
Ferrite Magnets
Master Alloys
Paints & Coatings
Medical
Zinc Refining
Others
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