Strontium Market To Reach 372.09 Kilo Ton By 2024|TMR | Page 2

Strontium Market
REPORT DESCRIPTION
Strontium Market (Product - Strontium Carbonate, Strontium Nitrate,
and Strontium Sulphate; Application - Pyrotechnics, Ferrite
Magnets, Master Alloys, Paints & Coatings, Medical, and Zinc
Refining) - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024
Among the limited number of companies operating in the global strontium market, Solvay, Sakai
Chemical Industry Co., Ltd., and BassTech International held the dominant share of over 60% in
2015. Among these enterprises, Solvay is backward integrated into the mining of strontium materials.
This has intensified the prevailing competition among the leading players. As per Transparency
Market Research (TMR), the degree of competition witnessed in the market is expected to remain
from medium to high in the coming years.
Meanwhile, companies such as Yuxiang Magnetic Materials Ind. Co. Ltd. and KBM Affilips are not
directly engaged in the production of strontium. Instead, their activities are focused on the
manufacturing of products considered in the downstream application sectors of strontium. “Strategies
that these companies adopt to gain competitive edge have a profound impact on the market
operations,” said a lead TMR analyst. According to TMR, the global strontium market stood at 240.72
kilo ton in 2015. Exhibiting a CAGR of 4.91% between 2016 and 2024, the market is forecast to reach
372.09 kilo ton by the end of 2024.
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http://www.transparencymarketresearch.com/strontium-market.html
Based on application, the dominance is expected to remain with ferrite magnets through the forecast
period. In 2015, they constituted the leading share of 32.29% in the market, leaving other segments
including pyrotechnics, master alloys, paints & coatings, zinc refining, and medical behind.
Regionally, North America and Asia Pacific are competing for the top slot. In 2015, North America
marginally emerged dominant with a share of 29.65% in the overall market. However, by the end of
the forecast period, the Asia Pacific market has high chances of redeeming itself.
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Transparency Market Research