Strontium is an alkaline earth metal which is the fifteenth most abundant element on the earth. Strontium is soft yellowish or silver white in colour and the physical and chemical properties of Strontium resemble Calcium and Barium with strong reactivity towards water and hydroxides. Strontium is malleable and ductile in nature and is naturally found in minerals such as Strontianite and Celestite of which the carbonate form of strontium, strontianite is more useful in terms of application. Strontium compounds have better thermodynamic and mechanical properties. Metallic strontium can be obtained by reduction of aluminum oxide since strontium is a good reducing agent. The significant application of strontium is in the manufacturing of television face plate glass.
Strontium is segmented on the basis of mineral forms as strontianite, celestite, acuminite and putnisite. Naturally occurring strontium is segmented in terms of different forms as strontium -84, strontium -86, strontium -87 and strontium-88. On the basis of application strontium market is segmented as electronic industry, pyro technique industry, dental industry, health and medical field, automobile industry, paints and coating industry, research and development field and space science and technology field.
The strontium market is expected to witness a decent growth in the current year and is expected to follow the same trend in the forecast period (2016-2024). Strontium market is mainly driven by Cathode Ray Tube glass industry which is commonly used in consumer electronic goods such as color television and computer monitors. Ferrite magnet synthesis and production is another key market driver of Strontium market. Pyro technique industry which is used for military as well as nonmilitary applications act as a major market driver of Strontium. Dental industry is also an important market driver as teeth sensitive paste which is prepared using strontium are currently available in the market. Corrosion resistant paint industry is another domain that drives Strontium market. Medical field is also a significant market driver of strontium as it uses the radioactive strontium for chemotherapy. Automobile industry act as a key market driver by using strontium which is having good machinability and creep resistance for making USB ports and visual displays. R & D is another driver for Strontium market since it is used to make vacuum pumps to remove air. Space technology is also a key driver of Strontium as it uses Strontium to make parts of space vehicles.
Global market of strontium has been segmented into regions i.e., Asia-Pacific, North America and Europe. The key consumers of Strontium in Asia-Pacific region include China with a rapid growth of Strontium market, Japan and Taiwan followed by India. Leading producers of Strontium are based on US and Europe; in countries such as Mexico, Canada, Germany and Spain. However the increased demand of flat screen displays in North America and Europe is expected to make a change in the trend since CRTs are not used in these technologies. Still, in terms of cost effectiveness, CRTs are preferred to components of new technologies. In rest of the world Strontium market growth is steady. Mining of Strontium minerals are mainly done in UK, Mexico, Turkey and Spain.
Major players operating in the global Strontium market are Evonik Degussa GmbH, Sakai Chemical Industry Co.Ltd and Solvay &CPC Barium Strontium GmbH &Co.KG, Timminco Ltd, Canteras Industriales S.L, Quimica Del Estroncio, S.A.