Strontium is a soft, silvery-white metal that is found in nature in a variety of minerals. It is a relatively rare element, but it is also a very versatile one. Strontium has a wide range of applications, including in the glass, ceramics, and pyrotechnics industries. It is also used in the production of some medical and dental products.

The global strontium market is expected to grow at a CAGR of 6.27% from 2022 to 2028. The growth of the market is being driven by the increasing demand for strontium-based compounds in a variety of industries.

According to Stratview Research, the strontium market size was valued at USD 377.78 million in 2021 and is projected to reach USD 582.36 million by 2028, growing at a CAGR of 6.27% during the forecast period.

Market Drivers

The growth of the strontium market is being driven by a number of factors, including:

• The increasing demand for strontium-based compounds in the electronics industry: Strontium is used in the production of CRTs, display panels, and phosphors. The growth of the electronics industry is expected to drive demand for strontium in the coming years.
• The increasing demand for strontium-based compounds in the construction industry: Strontium is used in the production of cement, glass, and ceramics. The growth of the construction industry is expected to drive demand for strontium in the coming years.
• The increasing demand for strontium-based compounds in the medical and dental industries: Strontium is used in the production of bone cement, dental fillings, and toothpaste. The growth of the medical and dental industries is expected to drive demand for strontium in the coming years.

Market Restraints

The growth of the strontium market is being restrained by a number of factors, including:

• The limited supply of strontium: The supply of strontium is limited, which could constrain growth.
• The volatility of the price of strontium: The price of strontium can be volatile, which could make it a risky investment.
• The environmental concerns associated with the mining of strontium: The mining of strontium can have environmental impacts, which could lead to regulatory restrictions.

Market Segmentation

The strontium market is segmented by application, region, and product type.

By application, the market is segmented into:

• Electronics
• Construction
• Medical and dental
• Others

By region, the market is segmented into:

• North America
• Europe
• Asia-Pacific
• Rest of the world

By product type, the market is segmented into:

• Strontium carbonate
• Strontium nitrate
• Strontium chloride
• Others

Key Players

Some of the key players in the strontium market include:

• Solvay
• American Elements
• Nippon Chemical Industry
• Honjo Chemical Corp
• Nanjing Jinyan Strontium Industry
• Gansu Minyue Fuyuan Chemical
• Qinghai Jinrui Group
• Guizhou Red Star
• Abassco

Conclusion

The strontium market is a growing market with a number of opportunities for investors. However, there are also some risks associated with the market, such as the limited supply of the metal and the volatility of the price of strontium. Investors should carefully consider these risks before investing in the strontium market.