Strontium Market Size, Share & Industry Analysis, By Product (Strontium Sulfate, Strontium Carbonate, Strontium Nitrate, Others), By Application (Electricals & Electronics, Medical, Paints & Coatings, Pyrotechnic, Others) and Regional Forecast, 2024-2032

Growing uses of fireworks and colorful sparkles for different occasions and events like festivals, sports, ceremonies & parties, concerts, and other public events is anticipated to positively cater to the global strontium market. Strontium is a naturally occurring chemical, primarily existing in the strontianite and celestine minerals.

It is a highly reactive alkaline earth metal and is utilized in different forms for an extensive range of purposes. Its isotopes also exist as radioactive elements formed as the by-products of nuclear reactors. These isotopes emit high energy beta rays and therefore, sometimes used to generate electricity for remote weather stations and space vehicles.

STRONTIUM MARKET SEGMENTATION ANALYSIS

On the basis of the product, the strontium market can be segmented into Strontium Sulfate, Strontium Carbonate, Strontium Nitrate, and Others. Strontium sulfate generally appears as a crystalline powder or white crystals and is reasonably soluble in acid and water. It is usually used in ceramics & pyrotechnics and is also utilized as a starting material to produce other strontium salts. Strontium carbonate has properties likely to that of calcium carbonate and is a fine, white powder usually with high solubility in acids whereas very less water solubility.

Based on application, the global strontium market can be primarily subcategorized into Electricals & Electronics, Medical, Paints & Coatings, Pyrotechnic, and Others. The metal and its different salts are readily used to manufacture different consumer electronic products, including flashlights, mobile phones, and cameras. Strontium provides a wide range of medical purposes and is for numerous dental and health problems like joint pain and bone thinning.

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Rising demand for consumer electronics and electrical products like speakers, cameras, security systems, mobile phones, motors, generators, and various others is set to cater to the global strontium market growth. Additionally, increasing the usage of fireworks in global summits, events, and festivals will further fuel the industry outlook.

It is majorly used in producing flares & fireworks and is also consumed in homeopathic medical purposes to treat problems like arthrosis. Strontium nitrate occurs in powder, white granules, or colorless cubic crystal forms and is typically stable at lower temperatures but starts to decompose at about 500° C. It is widely used for different purposes like to produce electronics, explosives, industrial colorant, cosmetics, and various others.

Pyrotechnics is one of the major applications of the metal as some of its salts are also heavily utilized to provide a colorful effect to the explosives and fireworks used for different celebrations. Strontium delivers a vibrant pigment is used to improve paints & coatings performance by enhancing optical properties, easy dispersion, UV resistance, contrast ratio in the chemicals.

Harmful health effects of some metallic isotopes and salts, sometimes leading to diseases like cancer may hinder the global strontium market. Strontium-90 is a toxic isotope which, when exposed to the bone tissue, may damage bone marrow and cause carcinogenic problems.

Key Players Covered

Some of the key companies currently operating in strontium market are Sakai Chemical Industry Co Ltd, Reade Advanced Materials, Joyieng Chemicals Limited, Solvay, Chemalloy Co., Inc., Shenzhou Jiaxin Chemical Co., Ltd., Noah Technologies Corporation, Divjyot Chemicals Private Limited, Chongqing FuRun Chemicals Co., Ltd., Química del Estroncio S.A.U., Abassco Group, and ProChem, Inc.

Segmentation

Regional STRONTIUM MARKET Analysis

The global strontium market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region is projected to hold significant share due to the rising need for pyrotechnics along with growing demand for electrical & electronics products in countries like China and India. High investments in R&D activities to safely extract and use strontium isotopes by treating different chemicals is set to promote the North American industrial landscape. Latin America is expected to witness substantial growth over the forecast period owing to rich strontium reserves presence coupled with rising mine production activities for celestite.

Key Industry Developments

• In March 2019, Solvay launched a new waterborne liquid coating system known as Halar® ECTFE. The product is designed to provide enhanced corrosion prevention for the chemical industry and thereby improve Solvay’s penetration across different industries.


• In November 2018, Broadway Gold Mining Ltd., a Canada based mining company announced to discover significant strontium/yttrium reserves. The asset is spread over a 2.4-kilometer zone has a substantial potential to produce strontium minerals.


• In April 2017, ProChem investor acquired ChemFree Defoam LLC, a non-chemical solution provider. The acquisition aims to augment the company’s organic growth across different business verticals.