Global Strontium Aluminate Market, By Type (Water Based Strontium Aluminate, Solvent Based Strontium Aluminate), End-user (Paint and Coating, Printing Inks, Plastics, Construction Materials, Healthcare, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Over the last few years, there has been immense growth in the chemical industry. Additionally, there has been increased utilization across end-use industries such as paint and coating, printing inks, plastics, construction materials, healthcare and others which further increases the overall growth for the market. Consequently, the market is projected to accelerate growth over the forecast period.
Global Strontium aluminate market was valued at USD 210.00 million in 2021 and is expected to reach USD 310.27 million by 2029, registering a CAGR of 5.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Water Based Strontium Aluminate, Solvent Based Strontium Aluminate), End-user (Paint and Coating, Printing Inks, Plastics, Construction Materials, Healthcare, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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DuPont (U.S.), Solvay (Belgium), Honeywell International Inc. (U.S.), LuminoChem (Hungary), Nemoto & Co. Ltd., (Japan), Allureglow International (Australia), GloTech International (Philippines), Lightleader Co. Ltd. (China), Tavco Chemicals Inc. (U.S.), RTP Company (U.S.), RC Tritec Ltd. (Switzerland), Glow Inc. (Indonesia), Bio-x (India), Shenzhen Yumingjie Pigments CO., LTD (China), Triveni Interchem Private Limited (Group Of Triveni Chemicals) (India), Foset Co. Ltd (China), Anyang Jinfang Metallurgy Co.,Ltd. (China) and Dezhou Grand Luminous Technology Co., Ltd.(China)
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Market Opportunities
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Market Definition
Strontium aluminate has the chemical formula SrAl2O4. It's an odorless and non-flammable pale yellow monoclinic crystalline powder. It works as a photoluminescent phosphor with long phosphorescence persistence when activated with an appropriate dopant (for instance, europium, denoted as Eu: SrAl2O4).
Strontium Aluminate Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Demand across Various Applications
Paints and coatings commonly employ strontium aluminate powder. Due to their widespread use in the creation of glow-in-the-dark paints used on aircraft escape routes and in residential and commercial interior decor, the worldwide strontium aluminate powder market is expected to grow during the projected period. The increased demand for strontium aluminate as a plastic additive is likely to generate substantial prospects for the strontium aluminate powder market.
Furthermore, the growing personal disposable income and rapid urbanization will further propel the growth rate of strontium aluminate market. Additionally, the growth and expansion of the end use industries are projected to bolster the growth of the market.
Opportunities
- Product Developments and Research and Development Activities
Furthermore, various product developments by the market players further enhance product applications, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the significant investments in research and development activities will further expand the future growth of the strontium aluminate market.
Restraints/Challenges
- Impact of Strontium
The adverse effects of strontium further reduce the consumer inclination towards the product and thus, this factor will create hindrances for the growth of the strontium aluminate market.
- High Cost of Raw Materials
The product's high cost would hamper the market's expansion. Copper activated zinc sulfide powder and strontium aluminate powder are among the raw materials utilized in the production of this product. Also, zinc sulfide prices are influenced by zinc demand and ores. Strontium aluminate prices are higher than its replacements, which could dampen the market over forecast period.
- Supply Chain Disruptions
With the rising number of restrictions around the globe due to pandemic, there has been a hit in the demand and supply. Also, the supply chain was largely disturbed, proving to be a demerit for the strontium aluminate market. Therefore, this will challenge the strontium aluminate market growth rate.
This strontium aluminate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the strontium aluminate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Strontium aluminate Market
The recent outbreak of coronavirus had a negative impact on the strontium aluminate market. Due to recent events surrounding the COVID-19 epidemic, several governments and private sector businesses are functioning at reduced capacity or have totally suspended operations. Manufacturing of different consumer items and other products came to a standstill around the world due to a lack of raw materials, labor shortages, and other factors. The market for strontium aluminate powder is projected to be hampered as a result. There were severe disruptions in various manufacturing as well as the supply-chain operations resulting in huge financial setback for the market. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.
Global Strontium Aluminate Market Scope
The strontium aluminate market is segmented on the basis of type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Water Based Strontium Aluminate
- Solvent Based Strontium Aluminate
End-user
- Paint and Coating
- Printing Inks
- Plastics
- Construction Materials
- Healthcare
- Others
Strontium aluminate Market Regional Analysis/Insights
The strontium aluminate market is analyzed and market size insights and trends are provided by country, type, form and application as referenced above.
The countries covered in the strontium aluminate market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the easy availability of raw materials at competitive prices within the region.
On the other hand, North America is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing spending on research and development and high usage for various applications in the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Strontium aluminate Market Share Analysis
The strontium aluminate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to strontium aluminate market.
Some of the major players operating in the strontium aluminate market are
- DuPont (U.S.)
- Solvay (Belgium)
- Honeywell International Inc. (U.S.)
- LuminoChem (Hungary)
- Nemoto & Co. Ltd., (Japan)
- Allureglow International (Australia)
- GloTech International (Philippines)
- Lightleader Co. Ltd. (China)
- Tavco Chemicals Inc. (U.S.)
- RTP Company (U.S.)
- RC Tritec Ltd. (Switzerland)
- Glow Inc. (Indonesia)
- Bio-x (India)
- Shenzhen Yumingjie Pigments CO., LTD (China)
- Triveni Interchem Private Limited (Group Of Triveni Chemicals) (India)
- Foset Co. Ltd (China)
- Anyang Jinfang Metallurgy Co.,Ltd. (China)
- Dezhou Grand Luminous Technology Co., Ltd.(China)
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