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.
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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.
Competitive Analysis
·
Solvay
·
SAKAI CHEMICAL INDUSTRY CO., LTD.
·
Basstech International
·
Canteras Industriales, S.L.
·
QUIMICA DEL ESTRONCIO, S.A.
·
JOYIENG CHEMICAL LIMITED
·
SHENZHOU JIAXIN CHEMICAL CO., LTD.
·
ProChem, Inc.
·
CHEMALLOY
·
Noah Technologies Corporation
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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