Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Strontium Carbonate Market Size is Expected to Grow from USD 217.82 Million in 2023 to USD 285.31 Million by 2033, at a CAGR of 2.74% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Strontium Carbonate Market Size, Share, and COVID-19 Impact Analysis, By Grade (Electronic Grade and Industrial Grade), By Application (Glass & Ceramics, Pyrotechnics & Signals, Electronics & Semiconductors, Paints & Coatings, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The chemical compound strontium carbonate has the formula SrCO3. It is a white, odorless powder that dissolves somewhat in water. In addition to being produced for a variety of commercial uses, strontium carbonate is found naturally as the mineral strontiumite. Glass, ceramics, and pyrotechnics are all made with it. Strontium carbonate is also used in the creation of ferrite magnets, the refinement of zinc, and as a raw material for the synthesis of other strontium compounds. Strontium carbonate is gaining popularity in the production of glass for cathode ray tubes, ferrite magnets, and refractory bricks. The increasing use of this material in various industries, including electronics, construction, and automotive, is driving market growth. The rise in glass production for CRT and LCD screens, as well as the increasing use of ferrite magnets in automotive electronics, are expected to support the consumption of strontium carbonate. However, the growth of the strontium carbonate market is hindered by the availability of substitutes, as consumer preference for LED and LCDs over CRT-based TVs has increased over the past decade.
The industrial grade segment accounted for the highest share of 83.1% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the grade, the strontium carbonate market is classified into electronic grade and industrial grade. Among these, the industrial grade segment accounted for the highest share of 83.1% in 2023 and is expected to grow at a significant CAGR during the forecast period. Owing to its wide use in the construction industry. This grade of strontium carbonate has physical and chemical properties making it well-suited for applications in glass, ceramics, cement, and other building materials. Its low cost and availability in bulk quantities have allowed it to displace more expensive alternatives in various construction applications over time.
The glass and ceramics segment accounted for 33.2% of the market share in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the strontium carbonate market is divided into glass & ceramics, pyrotechnics & signals, electronics & semiconductors, paints & coatings, and others. Among these, the glass and ceramics segment accounted for the highest share of 33.2% in 2023 and is expected to grow at a significant CAGR during the forecast period. Strontium carbonate, a key component in glass and ceramics manufacturing, contributes over half of global consumption. Its unique properties enhance optical clarity and mechanical strength without compromising workability, making it a crucial component in specialty glasses and ceramics. Its applications include solar panels, electronics, lighting, and construction.
North America is estimated to hold the largest share of the strontium carbonate market over the forecast period.
North America is estimated to hold the largest share of the strontium carbonate market over the forecast period. The U.S., with its established industries like glass, pyrotechnics, aerospace, and paints & coatings, consumes over half of global strontium carbonate production for defense and aerospace, with leading OEMs and component manufacturers allocating significant budgets for this essential material.
Asia Pacific is predicted to have the fastest CAGR growth in the strontium carbonate market over the forecast period. China is a significant player in the Asia Pacific market, contributing significantly to the production of paints, coatings, enamels, porcelain enamels, and automobiles. The region also serves as a major export hub for strontium carbonate to other developing markets due to its abundant raw materials availability and local manufacturers' cost competitiveness.
Competitive Analysis
Major key players in the strontium carbonate market include Solvay, Muby Chemicals, American Elements, 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, Vishnupriya Chemicals, Haihang Industry, CDH Fine Chemical, Wego Chemical Group, Joshi Agrochem Pharma Pvt Ltd., Ataman Kimya, and Others.
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the strontium carbonate market based on the below-mentioned segments:
Global Strontium Carbonate Market, By Grade
Global Strontium Carbonate Market, By Application
Global Strontium Carbonate Market, By Regional Analysis
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