Global Strontium Nitrate Market: Overview
Strontium nitrate is a salt of strontium metal, which is the 15th most abundant element in nature. Strontium nitrate is widely utilized in pyrotechnic applications. Strontium burns with a bright red flame, and there are no other alternative materials with performance at par with that of strontium. Among all the strontium compounds, such as strontium carbonate, strontium oxalate, strontium sulfate, and strontium chlorate, strontium nitrate is extensively employed in pyrotechnic applications. Strontium nitrate is a solid comprising white or light yellow crystals that are soluble in water. Strontium nitrate has oxidizing properties. It is produced by reacting strontium carbonate and nitric acid.
Global Strontium Nitrate Market: Key Segments
Pyrotechnics is the prominent application of strontium nitrate. These devices can be further divided into end-uses spanning across military and non-military applications. In military applications, pyrotechnic devices are used in tracer ammunition, military flares, and marine distress signals etc. Among non-military applications, pyrotechnics are utilized in warning devices and fireworks. Other non-military pyrotechnic applications for strontium nitrate include glass for liquid crystal displays and automotive. Pyrotechnic is expected to remain the dominant segment of the global strontium nitrate market during the forecast period. It is projected to expand at a rapid pace in the near future. Strontium nitrate is also utilized in numerous other applications such as refrigeration, steelmaking, and sugar beet processing. Strontium compounds have the ability to impart red color to substances and hence, they are also used as colorants.
Global Strontium Nitrate Market: Regional Outlook
China, Mexico, and Spain are major producers of strontium nitrate in the world. This can be attributed to the vast strontium natural reserves in these countries. Finland, France, Germany, and Switzerland are other key producers of strontium compounds worldwide. In terms of region, the global strontium nitrate market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is a major market for strontium nitrate, globally. Demand for strontium nitrate is high in the region, due to the expansion of electronics and automotive industries in the region where strontium nitrate is used for pyrotechnics. The market in Asia Pacific is expected to expand at a rapid pace during the forecast period. Countries such as India, China, and South Korea are estimated to drive the strontium nitrate market in the region. North America and Europe are also projected to be the key consumers of strontium nitrate. The market in Latin America and Middle East & Africa is anticipated to offer lucrative opportunities to strontium nitrate manufacturers during the forecast period. Brazil and Mexico are expected to contribute significantly to the expansion of the market in Latin America.
Global Strontium Nitrate Market: Key Players
Key players operating in the strontium nitrate market include Solvay, BassTech International, Sakai Chemical Industry Co., Ltd., Ronas Chemicals Ind. Co. Ltd., Celtic Chemicals Ltimited, Mintchem Group, Furun Chemicals, Big Dragon Group, Wenzhou Chemical Material Factory, and TQ Chemicals Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
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2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
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