Strontium - Global Strategic Business Report

The global market for Strontium was sized at 406.7 Thousand Metric Tons in 2024 and is projected to reach 578.1 Thousand Metric Tons by 2030, growing at a CAGR of 6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Strontium Market - Key Trends & Drivers Summarized

Why Is Strontium Gaining Industrial Significance?

Strontium, a relatively obscure alkaline earth metal, is finding increasing applications across multiple industries, ranging from electronics to pyrotechnics and medical treatments. While traditionally known for its use in fireworks and signal flares due to its brilliant red flame color, strontium’s industrial applications have expanded significantly. One of its most critical uses is in the production of ferrite magnets, which are essential components in electric motors, generators, and electronic devices. As demand for energy-efficient technologies grows, strontium’s role in magnet production is becoming more vital. Additionally, strontium is widely used in glass manufacturing, particularly in cathode-ray tubes and specialty optical glass, where it enhances durability and clarity. Its application in medical treatments, such as strontium ranelate for osteoporosis, is also contributing to rising demand.

How Is Strontium Used in High-Tech and Emerging Applications?

Beyond traditional uses, strontium is finding new applications in advanced materials and high-tech industries. Strontium-based compounds are increasingly being researched for their potential use in superconductors, which could revolutionize energy transmission by reducing electrical resistance. Another promising area is its role in perovskite solar cells, a next-generation photovoltaic technology with higher efficiency than conventional silicon-based solar panels. These innovations are expanding strontium’s market beyond its historical reliance on pyrotechnics and magnets. The growing electronics sector, particularly in Asia, is also driving strontium demand, as its compounds are used in display panels, semiconductors, and optical coatings. As research into new material science applications continues, strontium’s relevance in high-performance and sustainable technologies is expected to grow.

What Are the Challenges Affecting the Strontium Supply Chain?

Strontium’s supply is primarily dependent on a handful of producing countries, including China, Mexico, and Spain, which account for most of the global output. Since the metal is often extracted as a byproduct of other mineral mining activities, its availability is influenced by the production rates of related minerals. Additionally, fluctuating demand from key industries, particularly display manufacturing, can cause price volatility. Environmental concerns surrounding strontium mining and refining processes are also prompting regulations that could affect supply chain stability. Despite these challenges, the increasing focus on material recycling and alternative extraction methods is expected to mitigate supply risks in the long run.

What Are the Key Growth Drivers for the Strontium Market?

The growth in the strontium market is driven by several factors. The expansion of the electronics and magnet manufacturing industries is a key demand driver, with applications in electric vehicles, consumer electronics, and industrial automation. The rise of advanced materials research, particularly in superconductors and solar cells, is opening new growth avenues for strontium-based compounds. Additionally, the continued demand for pyrotechnics in defense, entertainment, and emergency signaling ensures a stable market for strontium nitrate. The increasing focus on medical applications, including osteoporosis treatments and radiopharmaceuticals, is also contributing to demand growth. As industries continue to seek high-performance and sustainable materials, strontium’s role in various high-tech applications is expected to strengthen.

Report Scope

The report analyzes the Strontium market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments

Product (Strontium Carbonate, Strontium Nitrate, Strontium Sulphate, Other Products); Application (Pyrotechnics, Ferrite Magnets, Master Alloys, Paints & Coatings, Medical, Zinc Refining, Other Applications).

Geographic Regions/Countries

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Strontium Carbonate segment, which is expected to reach 275.3 Thousand Metric Tons by 2030 with a CAGR of a 6.8%. The Strontium Nitrate segment is also set to grow at 5.6% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, sized at 105.5 Thousand Metric Tons in 2024, and China, forecasted to grow at an impressive 9.4% CAGR to reach 135.1 Thousand Metric Tons by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Asia Barium & Strontium Salts Co. (ABASSCO), Barium & Chemicals, Inc., Basstech International LLC, KBM Affilips BV, Noah Technologies Corporation and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Strontium Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Strontium Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Strontium Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 19 major companies featured in this Strontium market report include:

• Asia Barium & Strontium Salts Co. (ABASSCO)
• Barium & Chemicals, Inc.
• Basstech International LLC
• KBM Affilips BV
• Noah Technologies Corporation
• Prochem, Inc.
• Quimica Del Estroncio SA
• Sakai Chemical Industry Co., Ltd.
• Shijiazhuang Zhengding JINSHI Chemical Co., Ltd.
• Solvay SA
• Yuxiang Magnetic Materials Ind. Co., Ltd.