The Latest Strontium Industry Statistics Explained
Strontium market value in 2020 was around $420 million.
The statistic ‘Strontium market value in 2020 was around $420 million’ indicates the total value of strontium traded or sold in the market during the year 2020. This figure serves as a metric of the economic significance and demand for strontium within various industries such as electronics, pyrotechnics, and ceramic manufacturing. The market value of $420 million reflects the aggregate worth of all strontium products bought and sold in the global marketplace in 2020, highlighting the importance of strontium in the manufacturing and technological sectors. This statistic can be useful for investors, policymakers, and industry players to track trends, make informed decisions, and assess the overall health and growth of the strontium market.
The global strontium market size is expected to reach USD 650.19 Million by 2028.
The statistic stating that the global strontium market size is expected to reach USD 650.19 Million by 2028 indicates the projected value of the strontium market in terms of revenue by the year 2028. This figure suggests a significant growth trajectory in the demand and market value of strontium-based products over the coming years. Factors driving this growth may include increasing applications of strontium in industries such as electronics, pyrotechnics, and medical devices, as well as advancements in strontium-based technologies. This forecasted market size can serve as a valuable metric for businesses, investors, and policymakers in understanding the potential trends and opportunities in the global strontium market.
Strontium carbonate took up almost 55% segment share by volume in 2020.
The statistic that “Strontium carbonate took up almost 55% segment share by volume in 2020” indicates that out of all the products or substances within the segment being analyzed, strontium carbonate accounted for a significant portion of the total volume. Specifically, nearly 55% of the volume within the segment was attributed to strontium carbonate. This suggests that strontium carbonate played a dominant role within the segment in terms of volume, indicating its importance or popularity relative to other products or options available. This statistic could be valuable for businesses, researchers, or policymakers looking to understand the market dynamics and key players within this specific segment.
The global Strontium Ferrite market is estimated to be US$ 499.1 million in 2019.
The statistics statement “The global Strontium Ferrite market is estimated to be US$ 499.1 million in 2019” suggests that the total value of the Strontium Ferrite market worldwide was approximately $499.1 million in the year 2019. This figure indicates the market size, reflecting the total revenue generated by the sales of Strontium Ferrite products across various regions and industries. This statistic serves as a key indicator of the market’s economic importance and provides valuable insights for businesses, investors, and policymakers to understand the market’s scale and potential growth opportunities within the Strontium Ferrite industry.
The U.S accounted for over 65% of North America’s strontium consumption in 2016.
The statistic indicates that in 2016, the United States consumed more than two-thirds (65%) of the total strontium consumption in North America. This suggests that the U.S. had a significant influence on the overall demand for strontium within the region. This could be attributed to various factors such as the size and population of the country, industrial activities that require strontium, as well as technological advancements that may utilize strontium-based materials. Understanding the distribution of strontium consumption across different countries within North America can provide insights into economic activities, industrial trends, and resource utilization within the region.
The Strontium 90 market is expected to grow at a CAGR of 6% from 2021 to 2026.
The statement “The Strontium 90 market is expected to grow at a CAGR of 6% from 2021 to 2026” indicates that the compound annual growth rate (CAGR) for the Strontium 90 market is projected to be 6% over the five-year period from 2021 to 2026. This means that on average, the market size for Strontium 90 is anticipated to increase by 6% each year during this period. CAGR is a useful measure for understanding the annual growth rate of an investment or market, as it smooths out fluctuations and provides a consistent rate of growth over time. In this case, the forecast suggests a positive outlook for the Strontium 90 market, with expectations for steady expansion over the next five years.
Asia Pacific is expected to see significant growth in the strontium market at a rate of nearly 7% through 2024.
The statistic states that the Asia Pacific region is projected to experience substantial growth in the strontium market over the next few years, with a growth rate of almost 7% expected until 2024. This indicates a positive trend in the demand for strontium-based products within the Asia Pacific market, possibly driven by factors such as industrial expansion, technological advancements, and increased consumer interest. The growth rate suggests a promising outlook for businesses operating in the strontium sector in the Asia Pacific region, potentially leading to new opportunities for market expansion, investment, and innovation.
Strontium ranelate is expected to exhibit the highest growth rate in medical applications, with 5% CAGR through 2025.
The statistic indicates that the use of strontium ranelate in medical applications is projected to experience a consistent growth rate of 5% per year, referred to as a Compound Annual Growth Rate (CAGR), up to the year 2025. This suggests that the demand for strontium ranelate in the medical field is anticipated to increase steadily over the specified period. The high growth rate implies that there is likely a growing need or interest in utilizing strontium ranelate for various medical purposes, such as in the treatment of certain conditions or diseases. This statistic reflects a positive trend for the future prospects of strontium ranelate within the medical industry.
Global strontium nitrate market was valued at $276.82 million USD in 2018.
This statistic indicates that the global market for strontium nitrate had a total value of $276.82 million USD in the year 2018. Strontium nitrate is a chemical compound commonly used in various industries such as pyrotechnics, electronics, and metallurgy. The market value reflects the total revenue generated from the sales of strontium nitrate products worldwide during that specific year. This information is important for businesses operating in the strontium nitrate industry as it provides insights into the size and worth of the market, allowing them to make informed decisions regarding production, pricing, and marketing strategies.
Strontium chromate held a market share of about 8% in 2020.
The statistic “Strontium chromate held a market share of about 8% in 2020” represents the proportion of the total market that was controlled by strontium chromate within the specified period. This indicates that out of all the products or substances in the market, strontium chromate accounted for approximately 8% of the market activity in 2020. This statistic provides valuable information about the competitive position and relevance of strontium chromate compared to other products or substances in the same market, highlighting its significance and presence in the industry in that particular year.
The global strontium market size was valued at USD 439.7 million in 2019.
The statistic indicates that the total value of the global strontium market in 2019 was USD 439.7 million. This value represents the combined revenue generated from the production, sale, and consumption of strontium across various industries and markets worldwide. The market size serves as a measure of the overall economic significance and scope of the strontium industry during the specified year, reflecting the demand for strontium-based products and the level of activity within the market. Understanding the market size helps stakeholders such as manufacturers, investors, and policymakers assess the industry’s growth potential, competitiveness, and trends, providing insights into opportunities for expansion, investment, and strategic decision-making.
The global Strontium Carbonate market is expected to reach US$280.1 Million by the end of 2027.
This statistic indicates the anticipated value of the global Strontium Carbonate market by the end of 2027, with projections suggesting that it will reach US$280.1 million. This figure reflects the estimated total revenue generated from the buying and selling of Strontium Carbonate products on a global scale by the specified year. Various factors such as market demand, supply chain dynamics, economic conditions, and industry trends will likely influence the growth and size of the market leading up to this projected value. This statistic can be used by industry stakeholders, investors, and policymakers to inform decision-making processes related to the Strontium Carbonate market.
Global demand for strontium carbonate is currently being driven by the growing electrical & electronics industry, which accounted for about 28% of the total strontium carbonate demand in 2018.
The statistic indicates that the global demand for strontium carbonate is significantly influenced by the expanding electrical and electronics industry, which represented approximately 28% of the overall demand for strontium carbonate in 2018. This suggests that the electrical and electronics sector plays a critical role in driving the market for strontium carbonate, indicating a strong correlation between the two industries. The demand for strontium carbonate is likely to continue to be closely tied to the growth and innovations in the electrical and electronics industry in the foreseeable future.
The market for strontium aluminate is expected to register a CAGR of over 4% during the forecast period of 2021-2026.
This statistic suggests that the market for strontium aluminate, a chemical compound commonly used in various industries such as electronics, paints, and pigments, is projected to experience a Compound Annual Growth Rate (CAGR) of at least 4% over the period from 2021 to 2026. This indicates a consistent growth trend in the demand for strontium aluminate-containing products and applications within these industries. The CAGR of over 4% signifies a relatively steady and positive growth trajectory for the market, implying a potentially increasing market size and opportunities for businesses operating in this sector over the specified forecast period.
Strontium ranelate accounted for just over 2.5% of the overall strontium market size in 2020.
This statistic indicates that in 2020, strontium ranelate, a specific form of strontium compound, represented a relatively small portion of the total strontium market size, accounting for just over 2.5%. This suggests that other forms or applications of strontium compounds likely dominate the market. The low market share of strontium ranelate may be attributed to factors such as alternative products, pricing, market demand, and regulatory considerations. Understanding the market share of different strontium compounds can provide valuable insights for companies in the industry to strategically position their products and make informed business decisions.
The Strontium Ferrite powder market is projected to reach USD 389 Million by 2026.
This statistic indicates the projected size of the Strontium Ferrite powder market in terms of revenue, with an estimated value of USD 389 million expected to be reached by the year 2026. This forecast suggests a potential growth in demand for Strontium Ferrite powder within various industries such as electronics, automotive, and manufacturing, leading to an increase in market value over the specified time period. Factors driving this growth could include advancements in technology, expansion of application areas, and a rise in demand for magnetic materials. This statistic serves as a valuable insight for industry stakeholders, investors, and decision-makers to assess market opportunities and potential future trends within the Strontium Ferrite powder market.
The consumption of strontium in the production of ferrite magnets accounted for about 30% in 2016.
The statistic indicates that in 2016, approximately 30% of the total consumption of strontium was used in the production of ferrite magnets. This suggests that ferrite magnet manufacturing is a significant consumer of strontium, with almost a third of the total supply being allocated to this specific application. This information is valuable for understanding the demand for strontium in the market and highlights the importance of ferrite magnets as a major end-use product for this material in the relevant year.
Based on consumption, the main countries where strontium is consumed are China, followed by Japan, the US, and Europe.
The statistic indicates the main countries where strontium is consumed based on consumption levels, with China being the largest consumer followed by Japan, the US, and Europe. This suggests that there is a significant demand for strontium products in these regions, possibly due to various industrial or commercial applications. The higher consumption levels in China could be attributed to its large population and industrial activities. Japan, the US, and Europe being major consumers also highlight the global importance of strontium usage and the presence of industries that rely on strontium for various purposes. Understanding these consumption patterns can provide insights into market trends, industrial activities, and potential areas for further research or exploration in the strontium industry.
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