omkar abhang

Strontium Market Segments, Opportunity, Growth and Forecast By End-use Industry 2016-2024

Press Release   •   Aug 02, 2017 12:06 EDT

Global Strontium Market: Snapshot

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). There are a number of strontium (Sr) isotopes existing in nature; however, only four of them are stable, namely Sr-84, Sr-86, Sr-87, and Sr-88 whose overall occurrence in the earth’s crust approximately accounts for 0.6%, 9.8%, 7.00%, and 82.6% respectively. However, there are no definitive studies that can determine the occurrence of these isotopes on a regional or country level.

Browse Market Research Report: http://www.transparencymarketresearch.com/strontium-market.html

The global strontium market is forecast to exhibit a CAGR of 4.91% between 2016 and 2024. At this pace, the market which stood at 240.72 kilo ton in 2015 is expected to reach 372.09 kilo ton by the end of 2024.

Strontium Carbonate to Remain Dominant Product Segment on Account of its Myriad Applications

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. Strontium carbonate has vast number of applications and is one of the primary compounds that is used as the precursor to produce other strontium compounds. On account of this, strontium carbonate is expected to remain at the market’s fore through the course of the forecast period. Major reason behind high consumption of strontium carbonate is that it is produced from the refining and processing of mineral Celestine.

Enterprises operating in the strontium market is gaining from large number of strontium applications, which include red colorant in fireworks, flares, and other pyrotechnics, manufacture of strontium ferrite for permanent magnets, and preparation of luminous paints and shimmering glass. Strontium is predominantly employed in pyrotechnics and the production of ceramic ferrite magnets, which constitute the leading market segment. Ferrite magnets occupied almost 32.29% of the overall market in 2015. The pyrotechnics segments emerged as the close second-lead in the same year.

Get accurate market forecast and analysis on the Strontium market. Request a sample to stay abreast on the key trends impacting this market @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16517

Strontium acts as a luminescence and anti-corrosive factor in paints & coatings and is utilized in small amounts in the medical industry as well. In pyrotechnics, strontium compounds act as red colorants. Strontium ferrite magnets are employed in microwave devices, small electric motors, magneto-optic media, recording media, and in the electronics & telecommunication industry. Compounds such as strontium aluminate and strontium chromate are used in the paints & coatings industry for luminescence requirements and anti-corrosive coatings respectively. Addition of strontium carbonate to the electrolytic solution catalyzes the process of zinc refining. Majority are master alloys produced that contains strontium are aluminium based.

North America and Asia Pacific to Fight For the Leading Spot

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 nations in Asia are major consumers of strontium. Currently North America and Asia Pacific exhibit the most lucrative prospects for market players. These regions together hold the leading market share, however, in 2015 the North America strontium market marginally emerged dominant with a share of 29.65% in the coming years. Similarly, over the forecast period there is high possibility of the table turning in favor of the Asia Pacific market.

Major players in the strontium market include Solvay, Sakai Chemical Industry Co., Ltd., and BassTech International.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com