Selbyville, Delaware, Dec. 06, 2018 (GLOBE NEWSWIRE) --
The global strontium market is expected to grow from $400 million in 2017 to $650 million by 2025, according to a 2018 Global Market Insights, Inc. report. The mineral also required in the making of cathode ray tubes (CRT) that are used in television sets and computer monitors.
It is broadly used in electronics industry due to its exceptional mechanical and thermodynamic properties. The increasing product application in the electronics industry to manufacture CRT will significantly contribute towards high strontium market demand in coming years.
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Stern government standards have been implemented to curb pollution in several countries. Some of these guidelines also constrain the use of fireworks. Since strontium is widely used in fireworks, therefore, regulations imposed to limit their use will have a negative impact on the overall strontium market size.
Strontium sulfate registers a CAGR over 6.5% by 2025. It is popularly used to produce ceramic ferrite magnets that are commonly used in loudspeakers, small motors, toys and other electronic equipment owing to their favorable magnetic properties and low cost.
Application in medical and dental sector will account for close to a tenth of the strontium market size in 2025. It helps in increasing bone formation and prevents bone loss when used in postmenopausal women with osteoporosis. The synthetic form of strontium is radioactive in nature and is used for killing certain cancer cells. The mineral is also used in treating osteoarthritis as it boosts collagen and cartilage formation in joints. It is also used in making toothpastes for sensitive teeth in order to prevent decay.
Browse key industry insights spread across 225 pages with 312 market data tables & 19 figures & charts from the report, “Strontium Market Size By Product (Strontium Carbonate, Strontium Sulfate, Strontium Nitrate), By Application (Electrical & electronics, Pyrotechnic, Medical & dental, Personal care, Paints & coatings), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, South Korea, Malaysia, Indonesia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Growth Potential Analysis, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/strontium-market
Asia Pacific strontium market size is likely to grow at a CAGR of around 6.5% by 2025 owing to the presence of huge deposits and exploration activities, especially in China. Increasing use of firecrackers in APAC on various occasions is a glaring factor towards the regional product demand which substantially contribute to the global strontium market growth by the projected timespan.
Strontium market share is exceedingly competitive, with several key players accounting for the total industry size. The major players include Sakai Chemical Industry Co., Solvay, BassTech International, Química del Estroncio, Canteras Industriales, Joyieng Chemical Limited, Prochem Inc., Shenzhou Jiaxin Chemical Co., NOAH Technologies Corporation and Chemalloy Co.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.