Strontium Market Size

Strontium Market Size

Strontium Market size was over USD 400 million in 2017 and is projected to expand at over 6% CAGR over the forecast timeframe./p>

Increasing use of fireworks and other pyrotechnics  during festivals and other entertainment sectors such as in concerts, movies, sports events, etc. will subsequently boost the strontium market size by 2025. Strontium is a highly reactive metallic element, occurring naturally and mostly mined from celestine and strontianite minerals. Natural strontium is not hazardous to health whereas on the other hand synthetic strontium is radioactive in nature. The mineral also finds an extensive application in electrical & electronics industry, where it is broadly used for making cathode ray tubes (CRT) used in television sets. Previously, 75% of the strontium production was consumed in making CRT tubes to eliminate the x-ray emission from TV sets. But this application is declining due to innovations in modern display methods./p>

Presently, the maximum product application is registered by pyrotechnic industry owing to the deep red color provided by strontium carbonate in fireworks and flares. Moreover, innovation of environment friendly flares will expand the product demand in the expected timeframe. For instance, researchers from the U.S. Army Research Laboratory and the Ludwig Maximilian University in Munich, Germany have developed an environmentally-friendly red light flare popular in fireworks displays and for soldiers who use them in training and battlefield operations as signaling devices. Similar, product innovations will positively propel the strontium market size in the projected timespan./p>

Also, strontium chloride is vastly used in toothpastes to reduce pain in sensitive teeth. It is the most common form of strontium found in dietary supplements. The product use in the dental industry to prepare tooth sensitive paste is a growing trend and shall subsequently boost business growth by 2025. For instance, Q BioMed Inc., a commercial biotechnology acceleration development company, and BioNucleonics, licensor of strontium chloride, announced the submission of supplemental regulatory filing to the FDA for approval of a new manufacturing facility on August 2018. Once cleared by the FDA, the facility will be permitted to manufacture strontium chloride for dental and medical applications, directly fueling the strontium industry share during the forecast timeframe./p>

Introduction of strontium ranelate may also bring new opportunities for the product market share in the medical and dental industry by 2025. This form of strontium is used in killing cancer cells and can increase bone formation and prevent bone loss when used in postmenopausal women with osteoporosis. It is also used for preventing tooth decay, which would generate copious opportunities for the strontium market size in the projected time period./p>

The reactive nature of the mineral and stringent government regulations for controlling mining emissions to improve the air quality is likely to hinder the strontium market share by 2025. The effect of laws to enforce the limited use of the product will certainly affect the strontium market size in the coming years. Moreover, synthetically formed strontium possesses radioactive properties that can be hazardous for human life.