Strontium Carbonate Market Size, Share & Industry Analysis, By Grade (Electronic Grade, Industrial Grade), By Application (Bone Health, Novel Nanoparticle, Fireworks Manufacturing, Pyrotechnics, Ceramics, Electromagnets, Others) and Regional Forecast, 2024-2032

Strontium carbonate is the strontium salt with a chemical formula SrCO3. It appears as whitish powder. It exists in the form of naturally occurring strontianite mineral deposits; but only a few discovered deposits are suitable for growth. While strontianite would be more suitable of the two commonly found minerals, because strontium carbonate is the compound often used in a a wide variety of applications. Strontium carbonate can be used, precisely by using the related acid, to create various strontium compounds. Strontium chloride can be treated by the use of hydrochloric acid to treat strontium carbonate. Strontium chromate yields the reaction between strontium carbonate and sodium dichromate and is generated typically by the nitric acid reaction with strontium carbonate. The formation of strontium oxide comes from the decomposition of strontium carbonate.

Key Market Driver -

The growing electronics market is also expected to boost the demand for strontium carbonate

Key Market Restraint -

Health concerns may restrain the market growth

The rising market for electronics is  likely to fuel demand for strontium carbonate, as it is commonly used to make cathode ray tubes for TV sets. The product also has extensive use for the treatment of osteoporosis in medical applications and for its property in the paints and coatings industry to offer the solutions with glossy shine and essence, which will expand the overall strontium market size positively. However,it  is harmful to humans as it induces irritation of the  skin,eyes,  and body, which strangles the growth of the market.

Market Segmentation:

Based on grade, the market for global strontium carbonate is segmented electronic grade and industrial grade. On the basis of application, the market is classified into bone health, frit manufacturing, novel nanoparticle, fireworks manufacturing, pyrotechnics, ceramics, electromagnets, others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global strontium carbonate market is fairly fragmented, with number of players operating in the global markets. Some of the key players in the global strontium carbonate market includes Muby Chemicals, American Elements, Solvay, Celtic Chemicals Ltd., Zaozhuang Yongli Chemical Co. Ltd., Sakai Chemical Industry Co. Ltd , Shijiazhuang Zhengding., Hebei Xinji Chemical Group Co. Ltd., Jinshi Chemical Co. Ltd.,  Abassco and Others.

Key Insights

• New Advancements in Production Technologies


• Key Trends in the Global Strontium Carbonate Market


• New Product Launches, Expansions, Key Players


• Ranking of Key Players in the Market

Regional Analysis:

The global strontium carbonate market  has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominates the global strontium carbonate market. The rapid industrialization and urbanization in developing countries such as India, Thailand, Malaysia , and Singapore can also be attributed to the fast demand growth in this area. In addition, increasing use of firecrackers on festive occasions in these countries is a significant feature towards generally high demand for products. Asia Pacific is followed by North America and Europe. Strontium mining facilities are restricted to some geographies, since mineral occurrence is confined to particular areas.. Nevertheless, some countries are importing the mineral from which they can produce Strontium carbonate domestically. For example, the US imports Mexico's strontium minerals for the synthesis of strontium carbonate from the ores. Owing to the growing demand for strontium from the region's aerospace, automotive and electronics industries, North America represented the second-largest market share. Highly established military and military power in the US is the main driver of fierce competition for military applications in this area for the product.Europe witnesses a considerable increase in the market. In Western European countries such as UK , Germany, France , and Italy, high production and sales of automotive parts are expected to fuel the growth for paints & coatings, which will further help to maximize the demand strontium in the region. Developing economies, like the Middle East and Africa, are projected to experience substantial growth over the forecast period due to the rise in disposable income and increasing urbanization.  Latin America shows sluggish growth due to the presence of substitutes.

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Segmentation

Global Strontium Carbonate Market Industry Developments

• On 29^th March, 2018, Solvay is taking a new step in its transformation, placing its customers at the heart of its organization to improve its long-term growth as an advanced chemical materials and specialty chemicals firm. Solvay announced its plan to streamline its company, which needs to be tailored to its portfolio, focusing heavily on high-performance materials and tailor-made solutions, as well as its evolution.