Global Strontium Carbonate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Strontium Carbonate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Strontium carbonate (SrCO3) is the carbonate salt of strontium that has the appearance of a white or grey powder. It occurs in nature as the mineral strontianite. strontium carbonate has strong X-ray shielding function and unique physical-chemical properties.

Market Overview:

The latest research study on the global Strontium Carbonate market finds that the global Strontium Carbonate market reached a value of USD 570.48 million in 2022. It’s expected that the market will achieve USD 883.23 million by 2028, exhibiting a CAGR of 7.56% during the forecast period.

Market Opportunities

Strontium carbonate has a wide range of uses in production, and strontium carbonate particles are used in the production of display glass and other glass. Strontium carbonate particles can also be used in metallurgy, such as the smelting of zinc. Strontium carbonate standard powder is used to produce ferrites for permanent magnets. Strontium carbonate is the source of strontium oxide in the glaze and can be used as a flux. Strontium carbonate is a common alternative to barium carbonate, especially when the desired effect is a color-sensitive matte. In addition, it is also used in the preparation of iridescent glass, luminescent coatings, strontium oxide and strontium salts, and refined sugars and certain drugs. A wide range of downstream application markets. With the development of the economy and the increase in people's purchasing power, the growth of demand in the downstream market will increase the demand for strontium carbonate.

Market Challenges

At present, the main raw material for the production of strontium carbonate is celestite. The industrial chemical production methods of strontium ore generally include the metathesis method and the carbon reduction method.
The metathesis method mainly reacts celestite with sodium carbonate directly, decomposes it into crude strontium carbonate, and further processes it into finished products. However, due to the variety of chemical raw materials used in the production process of this method, the amount of acid and alkali is also large. As a result, the production cost is high. At present, this method is mostly not used to produce strontium carbonate.
Carbon reduction methods are more commonly used, including carbonization methods and decomposition precipitation methods. The shortcomings of the prior art carbon reduction processes are: whether carbonization method or decomposition precipitation method, there is a problem of discharging sulfur compounds waste liquid, waste gas, Causes environmental pollution; the amount of waste is very large, and the content is low, and the concentration of low sulfur is only 1 to 2%. It is expensive to process for this, that is, there is no value for recycling, so it also causes the celestite mine Massive loss of sulphur in resources wasted.
Therefore, more advanced production processes are very urgent for manufacturers. In the production process, environmental protection will be a challenge for both enterprises and society.

Region Overview:

North America dominated the Strontium Carbonate market in 2022, with a market share of 34.32%.

Company Overview:

Solvay is one of the major players operating in the Strontium Carbonate market, holding a share of 43.51% in 2023.

Solvay

Solvay SA manufactures chemicals and plastics. The Company produces soda ash, hydrogen peroxide, functional polymers, silica, surfactants, food and fragrance flavors, and other specialty polymers. Solvay offers its products to numerous industries, including the aerospace, alternative energy, automotive, chemical, construction, consumer goods, food and beverage, and oil and gas markets.

Shijiazhuang Zhengding Jinshi Chemical

SHIJIAZHUANG ZHENGDING JINSHI CHEMICAL CO., LTD is located at Zhengding County—a graceful and attractive place that is famous for a great number of historical heritages. The traffic of Zhengding County is very convenient with Jingzhu Expressway in the East, Jingguang Railway and 107 State Road in the West, the capital of Hebei Province Shijiazhuang city in the South, and Shijiazhuang International Airport in the North.

Segmentation Overview:

Among different product types, Industrial Grade segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Magnetic Materials segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Strontium Carbonate market covered in Chapter 3:

Guizhou Red Star
Qinghai Jinrui Group
The Honjo Chemical Corporation
Chongqing Yuanhe Fine Chemicals
Nanjing Jinyan Strontium
Solvay
Zaozhuang Yongli Chemcial
Sakai Chemical Industry
Chemical Products Corporation
Chongqing Kinglong Fine Strontium Chemical
Hebei Xinji Chemical
Shijiazhuang Zhengding Jinshi Chemical
Gansu Minle Fuyuan Chemical

In Chapter 4 and Chapter 14.2, on the basis of types, the Strontium Carbonate market from 2018 to 2029 is primarily split into:

Industrial Grade
Electronic Grade

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Strontium Carbonate market from 2018 to 2029 covers:

Glass
Magnetic Materials
Metal Smelting
Ceramics
Electronic

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)