According to the recent study the strontium market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by rising demand for consumer electronics and electrical products, and increasing usage of strontium in fireworks.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in strontium market by product (strontium carbonate, strontium sulfate, strontium nitrate, and others), end use industry (electrical & electronics, pyrotechnic, medical and dental, personal care, paint and coating, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Strontium carbonate market is expected to remain the largest segment during the forecast period.”
Based on product, the strontium market is segmented into strontium carbonate, strontium sulfate, strontium nitrate, and others. Lucintel forecasts that the strontium carbonate market is expected to remain the largest segment due to its high usage in fireworks as an oxidizer and colorant, and for an increasing demand in medical applications.
“Within the strontium market, the paints and coatings segment is expected to remain the largest end use industry”
Based on end use industry the paints and coatings segment is expected to witness the highest growth over the forecast period due to its rising complementary usage, excellent mechanical and anti-bacterial properties, and rising construction activities.
“Asia pacific will dominate the strontium market in near future”
Asia Pacific will remain the largest region due to rising disposable income, increasing urbanization, and growing demand for electrical and electronic products in countries like China and India.
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Major players of strontium market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Solvay, Sakai Chemical Industry Co., LTD., Basstech International, Canteras Industriales, S.L., Quimica Del Estroncio, S.A., and Joyieng Chemical LTD. are among the major strontium providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/strontium-market.aspx or [email protected]