LONDON--(BUSINESS WIRE)--The global strontium market is expected to post a CAGR of nearly 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the growing demand for ferrite magnets. Permanent magnets retain their magnetic properties even in the absence of inducing field or current. The global permanent magnets market is being driven by the modernization of infrastructure, technological development, increasing demand for efficient and miniaturization, and low cost. The permanent magnets can be classified into neodymium iron boron, samarium cobalt, alnico, and ferrite magnets.
This market research report on the global strontium market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio highlights the advent of environment-friendly oxidizers as one of the key emerging trends in the global strontium market:
Global strontium market: Environment-friendly oxidizers
Strontium nitrate is an acid salt of strontium, which is used as an oxidizer and colorant in fireworks. Oxidizers are one of the raw materials used in fireworks, which are the major contributors toward increasing pollution. The oxidizers feature high levels of oxygen and thus are used to set fire to different mixtures of fireworks. It is vital to use greener alternatives in place of current raw materials of the fireworks for a greener environment.
“Barium nitrate and strontium nitrate are common examples of oxidizers. However, strontium nitrate is hygroscopic, and hence it immediately absorbs water vapor from the air. If fireworks equipment containing such a compound are stocked for a long time, they are likely to become damp and will fail to ignite,” says a senior analyst at Technavio for research on metals and minerals.
Global strontium market: Segmentation analysis
This market research report segments the global strontium market by end-user (ferrite ceramic magnets and pyrotechnics/fireworks) and geographical regions (APAC, EMEA, and the Americas).
The ferrite ceramic magnets segment held the largest market share in 2017, accounting for nearly 34% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 36% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
