Strontium Nitrate Market is Estimated To Witness High Growth Owing To Increased Use In Pyrotechnics And Flares

 

Strontium Nitrate Market

The global Strontium Nitrate Market is estimated to be valued at US$ 386.3 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Strontium nitrate is an inorganic compound widely used as a pigment in pyrotechnics and flares for its red color. It also finds applications as a precursor to make other compounds used in glass applications, ceramics, luminescence materials, and concrete additives. Strontium nitrate acts as a reinforcement additive to improve concrete properties.

 

Market key trends:

The increasing use of reinforced concrete as a construction material is a major trend fueling the growth of the strontium nitrate market. Strontium nitrate is used as an additive in concrete to improve its mechanical properties such as compressive strength and durability. Strontium nitrate reaction with cement hydration products leads to the formation of stronger calcium silicate hydrates (CSH) gels, denser microstructure and reduced permeability. These properties render the concrete more crack and corrosion resistant. As infrastructure development and construction activities are booming globally, the demand for quality reinforced concrete is rising exponentially, thereby propelling the consumption of strontium nitrate in this application.

Segment Analysis

The strontium nitrate market is segmented into grade and application. By grade, analytical reagent grade strontium nitrate accounts for the largest share as it is used in various applications involving research and development. It provides high purity that is required for analytical test procedures. By application, pyrotechnics dominates the market as strontium nitrate is the key ingredient used in bright red pyrotechnic compositions giving fireworks their vivid red color. It is replacing other transition metal nitrates owing to its ability to burn cleaner.

 

Key Takeaways

The global strontium nitrate market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing demand from pyrotechnics and flame retardants industries.

 

Regional analysis:

Asia Pacific dominates the global market and is expected to grow at the fastest rate during the forecast period. Rapid industrialization and growth of end use industries such as pyrotechnics in China and India are driving the demand. Furthermore, presence of major players in the region is also contributing to its large share.

 

Key players:

Key players operating in the strontium nitrate market are Solvay, Sakai Chemical Industry, Quimicos Aragonesas, Jinyan Strontium Industry, Joyieng Chemical, Hongkong XinRunDe Chemicals, Huaqi Fine Chemical, Barium & Chemicals, American Elements, ABASSCO. Major players are focusing on expansions and new product launches to cater to growing demand and gain competitive advantage. The market is relatively consolidated.

Read more

https://www.dailyprbulletin.com/strontium-nitrate-market-size-share-growth-outlook-2023/

Comments

Post a Comment

Popular posts from this blog

Clamshell Packaging Market to Grow at High Rate Owing to Rising Demand for Sustainable Packaging Options

Image
  Clamshell Packaging Market The global Clamshell Packaging Market is estimated to be valued at US$ 8.61 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.   Clamshell packaging refers to a hinged plastic packaging solution used majorly for food and consumer goods. It provides easy opening and closing functionality along with product protection and tamper resistance. The growth in demand for sustainable and eco-friendly clamshell packaging from various end-use industries is propelling the clamshell packaging market growth.   Market Overview: Clamshell packaging is a two-piece shell that snaps or clicks together to securely hold its content. It is widely used for packaging small consumer goods, food items, cosmetics, electronic accessories, and pharmaceutical products due to its excellent sealability and transparency properties. The rising focus on product safety and
Read more

Global Veterinary Equipment and Disposables Market: Trends and Outlook

Image
The veterinary equipment and disposables market is experiencing notable growth and transformation. With the increasing number of pet owners considering their animals as family, there is a growing demand for advanced diagnostic tools, surgical instruments, and consumables in veterinary practices. This trend is also supported by the evolving landscape of veterinary medicine, which now integrates sophisticated equipment like digital radiography and ultrasound. In addition to companion animals, the livestock and poultry industry also relies on specialized veterinary equipment to ensure the health and welfare of animals, contributing to market expansion. Moreover, the emphasis on preventive care and early disease detection has led to a surge in the adoption of veterinary equipment and diagnostics for routine check-ups. The incorporation of technology in veterinary practices, including electronic health records and telemedicine, is further enhancing the efficiency and quality of animal healt
Read more

"Advancements in Wilson's Disease Treatment: A Market Analysis"

Image
  Wilson's disease is a rare genetic disorder that affects the body's ability to metabolize copper, leading to its accumulation in various organs, especially the liver and brain. The treatment landscape for Wilson's disease has seen significant advancements in recent years, offering hope to those affected by this condition. One of the mainstays of Wilson's disease treatment market is copper-chelating agents, such as penicillamine and trientine. These medications work by binding to excess copper in the body and facilitating its removal through urine. They can help control copper levels and prevent further damage to the liver and other organs. In cases where copper-chelating agents are not effective or tolerated, liver transplantation becomes a crucial option. Liver transplantation is a life-saving procedure that replaces the damaged liver with a healthy one, effectively curing the disease. However, it's considered a last resort due to the associated risks and li
Read more