According to a market report by Lucintel, the future of the global strontium nitrate market looks promising with opportunities in the fireworks, glass, electronics & semiconductor, automotive, construction, and water treatment markets. The global strontium nitrate market is expected to reach an estimated $0.3 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are increasing demand from the pyrotechnics industry, growing use in wastewater treatment, and increasing applications of distress flare as an essential piece of safety kit in marine, and defense.
A more than 150 – page report is developed to understand Trends, opportunity and forecast in strontium nitrate market to 2030 by grade (technical grade, analytical grade, guaranteed reagent grade, acs grade, and others), application (pyrotechnics, glassware, electronics, coatings, water treatment, and others), end use (fireworks, glass, electronics & semiconductors, automotive, construction, water treatment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
In this market, pyrotechnics, glassware, electronics, coatings, and water treatment are the major segments of strontium nitrate market by application. Lucintel forecasts that pyrotechnics will remain the largest segment over the forcast period because the strontium nitrate is used to generate vibrant red hues in fireworks and emergency flares.
Within this market, fireworks will remain the largest segment over the forcast period.
North America will remain the largest region over the forcast period due to rising prominence of the pyrotechnics and explosives industry in the region.
Solvay, Sakai Chemical Industry, Quimicos Aragonesas, Jinyan Strontium Industry, Joyieng Chemical, Hongkong Xinrunde Chemicals, and Huaqi Fine Chemical are the major suppliers in the strontium nitrate market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]