Sellbyville, DE -- (SBWIRE) -- 04/15/2020 -- The strontium market is gaining traction across the electricals and electronics sector. The sector is expected to offer considerable growth proceeds, offering more than 5% CAGR to the strontium market through 2025. The product's exceptional mechanical as well as thermodynamic properties which make it a crucial component in the manufacturing of a wide array of electronic devices.

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Reports claim that, in 2017, the consumption of strontium in pyrotechnic maneuvers held for over 35% of total APAC market share. Furthermore, strontium has commendable application scope in the electronics and electricals due to its mechanical and thermodynamic characteristics.

It is extensively used to manufacture cathode ray tubes, which are used for TV and computer monitor displays. In addition to this, the recent shift towards eco-friendly substitutes may improve the growth dynamics of the global strontium market outlook.

Strontium Market by Application

1. Electrical & electronics
2. Pyrotechnic
3. Medical & dental
4. Personal care
5. Paints & coatings
6. Others

Based on product segment, the strontium carbonate segment was reported to hold over 55% of the total market share in 2017. The product is extensively used in the production of flares and fireworks. Strontium carbonate is a tasteless and odorless white powder which is mostly preferred due to its hygroscopic feature and minimum cost. It is also used for the production of refining sugar, iridescent glass, and luminous paints.

In the past, more than 75% of strontium was used for CRT manufacturing processes to reduce x-ray emissions. Currently, modern display solutions are triggering this application segment to dwindle in the current business landscape.

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Considering the regional front, North America is expected to offer moderate growth opportunities for companies operating in the strontium market. Declining utilization of CRTs across the electronics industry may impact regional industry share. Shifting customer preference towards flat-screen televisions and low cost of CRTs could affect product demand. Based on these trends, studies suggest that North America strontium market may record 5% CAGR through 2025.

It is vital to mention that the strontium market is highly competitive with companies such as BassTech International, Prochem Inc., Sakai Chemicals, and Solvay contributing a major market share.

Global Market Insights, Inc., predicts that the global strontium market to reach USD 650 million by 2025. However, strong government regulations regarding air pollution may hinder market growth over the forecast timeframe.

Escalating use of strontium in pyrotechnic maneuvers, particularly during festive celebrations, may accelerate strontium market expansion. In recent years, festive celebrations in the Asia Pacific region have reached new levels. Nations like China, India, and UAE observe a considerable number of festive junctures. This has led to a rise in demand for fireworks and pyrotechnic that require strontium.

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Main Features of the Global Market Research Report:

-The report delivers the strontium market valuation as well as the projected growth rate of the market spanning all years till 2025.

-The report also describes the major drivers of the market by considering as well as taking calculated risks, in tandem with identifying and testing new strategies.

-The research report endorses a detailed industry chain analysis. Also, it covers the production process of the market, upstream raw material supplier information, raw material costs, labor costs, manufacturing costs, marketing channels, as well as the downstream buyers of the market.

-The report provides detailed knowledge about the competitive scenario of the global market and also discusses the numerous marketing strategies adopted by companies to stay ahead in the competition.

-The report analyses the various market segments and also provides their contribution to the development of the global strontium industry.

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