STRONTIUM CARBONATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

The availability of substitutes is presenting a challenge for the growth of the strontium carbonate market. Strontium carbonate has traditionally been used in the production of color TV glass and as a substitute for lead in glasses and ceramic products. However, advancements in display technologies have diminished the use of color TV glass globally. The consumer preference for LED TVs and LCD displays over CRT-based TVs has been rising steadily in the past decade.

Opportunities: Emerging markets in Asia Pacific and Latin America

Emerging markets in Asia Pacific and Latin America show great promise for expansion in the strontium carbonate market. These regions have increasingly large populations and rapidly growing middle class population who will demand more consumer products that use strontium carbonate. Several factors point to the opportunities in these areas. Countries like India, Indonesia, Brazil, and Mexico all have populations over 100 million, and populations are projected to continue growing steadily according to UN data. As more people enter the workforce and consumer class, they will purchase more paints, plastics, ceramics, and glass - all applications where strontium carbonate plays an important role.