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Strontium Sulfate Market: Introduction

  • Strontium sulfate occurs naturally in the form of a white crystalline powder in the Celestine mineral. It can also be produced by precipitation of a soluble strontium salt and a sulfate.
  • Strontium compounds are known for their characteristic red color. Strontium sulfate is used as a high temperature oxidizer in some red colors based on metals. It is a naturally occurring strontium compound that acts as a precursor to other strontium compounds such as nitrates and carbonates.
  • Strontium sulfate can be converted into strontium nitrate for usage in pyrotechnic applications. Strontium sulfate is converted in the form of strontium carbonate for use in ceramics
  • Strontium sulfate is increasingly used as pigment extender or filler in powder coatings and liquid paints in the paints industry. It helps in enhancing the performance of paints and coatinssgs. Building & construction and manufacturing industries are the major end-users of strontium sulfate, as they are the key consumers of paints and coatings. 

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Key Drivers of Strontium Sulfate Market

  • Demand for strontium sulfate market is anticipated to rise at a fast pace during the forecast period. Rise in demand for strontium sulfate in end-use segments such as paints & coatings and pyrotechnic is a key factor driving the market
  • The global paints & coatings industry is mature. However, it is undergoing rapid transitions due to innovations and emergence of newer and environment-friendly technologies. Paints & coatings industry is an important component of the entire global chemical industry.
  • Macro-economic factors such as GDP growth, increase in purchasing power, higher disposable income, urbanization, improvement in economic conditions in developing countries, and recovery from debt crisis in Europe strongly impact the paints & coatings industry
  • Rise in population, especially in Asia Pacific, directly impacts the consumption of paints and coating products. Average per capita paint consumption in the world stands at around 15kgs. It is lower than this in several developing countries and is as high as 24kgs in developed countries such as Germany. This gap in consumption patterns is one of the key factors promoting the global paints & coatings industry. Expansion in the paints & coatings industry is anticipated to drive the demand for strontium sulfate during the forecast period.

Coatings Segment to Offer Attractive Opportunities

  • Prominent consumers of strontium sulfate include coatings, analytical reagent, pyrotechnic, ceramics, and others
  • Strontium sulfate can be used in liquid paints, powder coatings, and plastics. Paints & coatings industry is one of the prominent consumers of strontium sulfate in the world. Strontium sulfate can be extensively used in powder coatings, as it enables the coatings to have excellent optical properties, fog and UV resistance, and improved film coverage. It has whiteness comparable to that of titanium dioxide (TiO2) based compositions.
  • Pyrotechnic and coatings are estimated to be the rapidly expanding segments of the global strontium sulfate market during the forecast period

Asia Pacific Expected to Lead Global Strontium Sulfate Market

  • Asia Pacific is the major region of the global strontium sulfate market. Demand for strontium sulfate is high in the region. This can be ascribed to the rapidly expanding paints & coatings industry and use of strontium sulfate in powder coatings. Asia Pacific is expected to be a rapidly growing region of the strontium sulfate market during the forecast period. India, China, and South Korea are estimated to lead the growth of the strontium sulfate market in the region during the forecast period.
  • North America and Europe are also projected to be the key consumers of strontium sulfate. Demand for strontium sulfate in Europe and North America is likely to rise at a slow pace during the forecast period due to sluggish growth of paints & coatings industry and other end-use segments in these regions.
  • Latin America and Middle East & Africa are anticipated to offer lucrative opportunities for the strontium sulfate market during the forecast period. Most of the growth in Latin America is likely to be concentrated in Brazil and Mexico.
  • Mexico is one of the largest producers of strontium in the world. Local availability of raw materials is likely to boost the production of strontium sulfate in the country during the forecast period. 

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Key Players in Strontium Sulfate Market:

Large numbers of players operate in the global strontium sulfate market. Key players operating in the global strontium sulfate market include:

  • Solvay SA
  • Haohua Chemical Group
  • Huaqi Fine Chemical
  • Jinyan Strontium Industry
  • Newcent New Material
  • Kunming Titan Technology

Global Strontium Sulfate Market: Research Scope

Global Strontium Sulfate Market, by Purity Level

  • 0% Pure
  • 97% Pure

Global Strontium Sulfate Market, by Application

  • Coatings
  • Analytical Reagent
  • Pyrotechnic
  • Ceramics
  • Others

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.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

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
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

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?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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Strontium Sulfate Market

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