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Strontium Carbonate finds wide utilization as an opacifier in the glass industry. It provides strength to glass products and allows for easier bending and processing. With its glass strengthening and heat-resistant properties, strontium carbonate allows glass manufacturers to reduce glass thickness and weight. It is prominently used in television glass, glassware, laboratory glass, and automotive and architectural glass. The increasing demand for specialized glass from end-use industries is expected to drive consumption of strontium carbonate over the coming years.
The Global Strontium Carbonate Market is estimated to be valued at US$ 228.1 Mn in 2024 and is expected to exhibit a CAGR of 2.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Strontium Carbonate are 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., and Ataman Kimya.
The growing demand from the glass industry is expected to Strontium Carbonate Market Trends extends product life by stabilizing glass composition. In addition, it enhances glass quality by imparting desirable properties like strength, durability, and heat resistance.
Advancements in manufacturing techniques are allowing manufacturers to replace other metals with strontium to improve material performance. New applications are being identified in photolithography masks, touch panels, solar panels, and phosphors used in LED lighting which is expected to further aid market growth over the coming years.
Market Trends
Increasing usage in paints and ceramic industry: Strontium Carbonate Market Size And Trends finds application as a matting agent in paints to reduce gloss and improve application properties. It has also emerged as a substitute for lead in ceramic and tile dyes.
Rising demand from sustainable industries: New applications are being developed in the area of sustainable energy like strontium-based solid oxide fuel cells and lithium-ion batteries; this will promote market expansion.
Market Opportunities
Emerging demand from cosmetics industry: Strontium is a key ingredient in anti-aging cosmetic products due to its ability to promote skin elasticity. This provides an opportunity to explore new niche application areas.
Use in water treatment plants: Strontium can be used for water softening in industrial plants and municipal water treatment facilities; this opens up an untapped market segment.
Strontium Carbonate Market: Impact of COVID-19
The COVID-19 pandemic has significantly impacted the growth of the global strontium carbonate market. The imposition of lockdowns across various regions led to disruptions in the supply chain and logistics. This caused severe delays in sourcing raw materials and transporting finished products. The shutdown of manufacturing facilities due to labor shortages further dampened production volumes and sales of strontium carbonate during the initial phases of the pandemic.
The demand from applications such as plastic additives and glass manufacturing also declined sharply owing to reduced industrial activities. However, with easing restrictions and resumption of economic activities post lockdowns, the market is gradually recovering. The rising focus on infrastructure development, construction and automotive manufacturing is gradually restoring demand in key end-use industries and is expected to catalyze the market growth over the forecast period.
However, ongoing supply chain challenges and uncertainties related to subsequent COVID-19 variants could pose challenges for the complete recovery of the strontium carbonate market. Companies need to focus on optimizing costs, exploring new avenues of growth and strengthening supply networks to navigate the changing market dynamics brought about by the pandemic.
Strontium carbonate is predominantly used in the manufacturing of glass for color cathode ray tubes, the majority of which is produced in Asia. Accordingly, the Asia Pacific market holds the largest share in terms of value. Within the region, China dominates as it accounts for more than 80% of the global cathode ray tube glass production. Other major consuming countries in Asia Pacific include South Korea and Japan.
Europe
is the second largest regional market supported by significant glass manufacturing industries. However, North America is anticipated to exhibit the fastest growth through 2024 driven by increasing usage of strontium carbonate in various applications such as pyrotechnics, refractory materials and ceramic frits.
Strontium Carbonate Market: Geographical Regions with Highest Growth
The fastest growing regional market for strontium carbonate is anticipated to be North America from 2024 to 2031. This high growth can be attributed to rising consumption of strontium carbonate in end-use industries such as construction materials, electronics and pyrotechnics across the US and Canada. Some of the key factors driving the North America market include:
- Revival of construction activities increasing demand from the ceramics industry.
- Increasing glass production for electronics and lighting applications propelling usage of strontium carbonate.
- Growing preference for strontium salts in flares, signal lights and safety matches boosting pyrotechnics consumption.
- Favorable government initiatives supporting infrastructure activities and industrialization.
- Presence of leading manufacturers enhancing regional supply potential.
- Recovering automotive industry restoring demand from glass manufacturing sector.
The incremental growth opportunities from expanding applications and recovering end-use industries make North America an attractive and high potential regional market for strontium carbonate over the forecast period.
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