The global strontium market is primarily driven by the high demand from paints & coatings industry owing to its superior properties such as gloss, contrast ratio, opacity, resistance to salt, fog, weather, and UV, improved film coverage, easy dispersion, high pellet flow, and smooth surface. The increasing use of paints & coatings in complementary end-use industries such as aerospace, automotive, construction, and electronics is driving the global strontium market. Furthermore, the use of strontium oxide and strontium carbonate as frits in ceramic glazes is another factor propelling the market growth as it is nontoxic alternative to barium and lead. It is also used as a glass modifier to enhance the optical properties of glass, increase its hardness and strength, and to intensify light refraction.
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Moreover, it is added to aluminium alloys to improve the strength and ductility of castings used in aerospace and automotive applications. It is also used in electrolytic production of zinc to remove lead impurities.
However, the stringent regulations regarding controlling mining activities coupled with the reactive nature of strontium is likely to hamper market growth during the forecast period.
The global strontium market has been segmented by product, application, and region.
By product, the global strontium market has been segmented into strontium carbonate, strontium sulfate, strontium nitrate, strontium chlorates, and others. Among these, the strontium carbonate accounted for major market share in 2017 owing to the growing demand for strontium carbonate in paints & coatings industry for glossy shine and essence as well as in medical industry for treating osteoporosis. It is used as oxidizer and colorants in pyrotechnics applications, which is another factor fueling the demand for strontium. The major factor driving the demand for strontium carbonate is its low cost.
Based on application, the market has been segmented into electrical & electronics, paints & coatings, personal care, pyrotechnic, refining, dental care, and others. The paints & coatings segment accounted for a major market share in 2017 on account of the high demand for paints & coatings in major end-use industries such as aerospace, automotive, construction, consumer electronics, marine, and ship-building.
Regionally, the global market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominated the global strontium market in 2017 due to the high demand for paints & coatings in automotive, aerospace, construction, and marine industries. The rapid industrialization and urbanization in the region are the primary factor affecting the growth of the strontium market.
The demand from the paints & coationgs, aerospace, defence, consumer goods, and electronics industries is driving the market in the North Ameican region.
European market is primarily driven by the high demand for paints & coatings in automotive industries in countries such as Germany, UK, France, and Italy.
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Some of the manufacturers operating in the global strontium market are Solvay (Belgium), SAKAI CHEMICAL INDUSTRY CO., LTD. (Japan), Basstech International (US), Canteras Industriales, S.L. (Spain), QUIMICA DEL ESTRONCIO, S.A. (Spain), JOYIENG CHEMICAL LIMITED (China), SHENZHOU JIAXIN CHEMICAL CO., LTD. (China), ProChem, Inc. (US), CHEMALLOY (US), and Noah Technologies Corporation (US).
TABLE OF CONTENTS
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Market Dynamics of Global Strontium Market
6. Global Strontium Market, By Product
7. Global Strontium Market, By Application
8. Global Strontium Market, By Region
9. Company Landscape
10. Company Profiles
LIST OF TABLES
Table 1 Global Strontium Market: By Region, 2016−2023
Table 2 North America: Strontium Market, By Country, 2016−2023
Table 3 Europe: Strontium Market, By Country, 2016−2023
Table 4 Asia-Pacific: Strontium Market. By Country, 2016−2023
Table 5 Middle East & Africa: Strontium Market, By Country, 2016−2023
Table 6 Latin America: Strontium Market, By Country, 2016−2023
Table 7 Global Strontium Product Market, By Regions, 2016−2023
Table 8 North America: Strontium Product Market, By Country, 2016−2023
Table 9 Europe: Strontium Product Market, By Country, 2016−2023
Table10 Asia-Pacific: Strontium Product Market, By Country, 2016−2023
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