Strontium Market: Information by Product (Strontium Carbonate, Strontium Sulfate, Strontium Nitrate, Strontium Chlorates), Application (Electrical & Electronics, Paints & Coatings, Personal Care, Pyrotechnic, Refining), and Region — Global Forecast till 2023
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Market Overview:
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.
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Competitive Analysis:
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).
Regional Analysis:
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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