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

Regional Analysis

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North America has established itself as the dominant regional market for strontium carbonate. The region is expected to account for over 35.8% of the market share in 2024, owing to its well-established end-use industries such as glass, pyrotechnics, aerospace, and paints & coatings. The U.S. alone consumes more than half of strontium carbonate produced worldwide primarily to fulfill the requirements of defense and aerospace sectors. With the presence of leading OEMs and component manufacturers, the defense industry in the U.S. allocates sizable budgets towards the procurement of essential materials like strontium carbonate annually.

Meanwhile, Asia Pacific has emerged as the fastest growing regional market for strontium carbonate. China represents the major contributor to the Asia Pacific market. The sizeable production of paints & coatings, enamels, porcelain enamels along with increasing automobile and construction activities in China and India is fueling the demand for strontium carbonate in the region. Moreover, Asia Pacific also serves as a major export hub of strontium carbonate to other developing markets due to the abundant availability of raw materials and cost competitiveness of local manufacturers.

*Definition: The strontium carbonate market refers to the commercial industry for the production and trade of strontium carbonate. Strontium carbonate is an inorganic compound with the formula SrCO3. It occurs naturally as the mineral strontianite. It is used in the manufacturing of colored glasses, paints, pottery, and porcelain. It also acts as a getter (gas absorbent) in vacuum tubes. The global strontium carbonate market has been growing due to its increasing demand in industrial applications such as glass coatings and additives.