Strontium Market Share 2020- Growth, Forecast, Analysis, Trends, Price, Demand aPosted by Mangesh Mahajan on March 5th, 2020 Top Key Players
Segmentation Analysis The Global Strontium Market has been segmented based on product, application, and region. Based on product, the market has been segmented into strontium carbonate, strontium sulfate, strontium nitrate, strontium chlorates, and others. By application, the market has been divided into electrical & electronics, paints & coatings, personal care, pyrotechnic, refining, dental care, and others. Regional Analysis The Global Strontium Market Share has been segmented into five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for most of the market share in 2017 due to the high demand for strontium in paints & coatings, consumer goods, electronics, and pyrotechnic. The demand fort paints & coatings can be attributed to the rapid industrialization and urbanization, which has resulted in an increased number of commercial and residential construction activities. The growth of the electronics industry in China, Malaysia, Thailand, and India is another factor propelling market growth. The use of mobile phones, televisions, gaming devices, laptops, and other electronics, along with initiatives such as Digital India, are likely to fuel product demand in the electronics industry. According to the National Investment Promotion and Facilitation Agency, the Indian electronics market is nearly 75% import-driven and the government has envisioned a target of net zero imports by 2020, which is expected to boost product demand for the manufacturing of electronics. The rising disposable income and the changing lifestyle of the consumers is driving the growth of these industries, which in turn, drives the global strontium market. North America accounted for the second-largest market share in 2017 due to the growing demand for strontium in the paints & coatings, automotive, electronics, and construction industries. The increasing demand for wireless electronic devices due to high standards of living in the region is likely to further fuel demand. The European market is expected to showcase significant growth due to the high product demand for automotive parts production in the region, especially in Western countries such as Germany, the UK, France, and Italy. The Latin American market is expected to witness substantial growth due to the high demand in the automotive industry in the region. Growing industrialization and increasing business sector is likely to drive the demand for paints & coatings, which in turn, will drive the demand for strontium in the Middle East & African region. Like it? Share it! More by this author |