by Strontium chloride is an inorganic salt that finds extensive applications in water treatment for industrial and municipal purposes. It helps in coagulation and flocculation of suspended solids in water. The outstanding coagulation efficiency of strontium chloride aids in removal of various contaminants like hardness, toxins and microbes from water. Moreover, being non-toxic and more environment-friendly than aluminium salts traditionally used for water treatment, strontium chloride is gaining precedence in the industry.
The Global strontium chloride market is estimated to be valued at US$ 359.7 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the strontium chloride market are Choice Organochem LLP, Riddhi Siddhi Industries, Anmol Chemicals, Gujarat Fluorochemicals Limited, S. R. Chemicals, Siddhi Vinayak Chemicals, S. M. Chemicals, Jayesh Group, Shreeji Chemicals, Vishnu Chemicals, K. S. S. Chemicals, Hindustan Chemical Company, B. S. S. Chemicals, S. B. Chemicals, A. B. Enterprises, K. R. Industries, V. S. Chemicals, and Shree Ram Chemicals.
The market is expected to witness lucrative opportunities due to stringent regulations regarding usage of toxic chemicals in water treatment and rising demand for strontium chloride from municipal and industrial sectors.
Technological advancements focusing on developing modified/coated strontium chloride with enhanced coagulation efficiency are further expected to drive the market growth over the forecast period.
Market drivers
The key driver propelling the Strontium Chloride Market Size is its extensive application in water treatment industry. Rising concerns regarding water pollution and scarcity have augmented the need for effective water treatment processes. Since strontium chloride exhibits excellent coagulation properties comparable to aluminium salts but with non-toxic characteristic, its demand from industrial sectors like oil & gas, power, and chemicals is surging significantly. Furthermore, strontium chloride also finds usage as a coagulant in pretreatment of wastewater from these industries before disposal. Thus, growing water treatment activities across industries will accelerate the market expansion of strontium chloride during the forecast years.
Current Challenges in Strontium Chloride Market
The strontium chloride market is facing some key challenges which can hamper its growth potential during the forecast period. Stringent safety regulations regarding the manufacturing, transportation and storage of this chemical pose a major hurdle. As strontium chloride is highly toxic and corrosive in nature, proper care needs to be taken during its production and supply chain activities. This leads to increased compliance costs for market players. Moreover, availability of substitute products is also restricting the uptake of strontium chloride in end-use industries like paints & coatings. Many companies are developing alternative chloride-based compounds with similar properties. Fluctuations in raw material prices can negatively impact the profit margins of strontium chloride producers.
SWOT Analysis
Strength: High demand from paints & coatings industry where it acts as a matting agent.
Weakness: Stringent regulations and availability of substitutes.
Opportunity: Growing use in ceramic glazes and construction materials.
Threats: Volatility in raw material costs and alternative products developed by competitors.
Geographical Regions
North America holds the major share of the global strontium chloride market in terms of value. This is mainly attributed to high consumption from various end-use industries in the U.S and Canada. The Asia Pacific region is expected to be the fastest growing market during the forecast period. This can be accredited to rapid industrialization and increasing paint production in China and India. Countries like Japan and South Korea are also substantial consumers of strontium chloride.
Fastest Growing Region
The Asia Pacific region is projected to witness the highest CAGR in the strontium chloride market from 2024 to 2031. This growth can be attributed to rising construction spending, burgeoning automotive industry and growing demand for durable paints & coatings from various end-use sectors in emerging economies of China, India and other Southeast Asian nations. China represents the biggest market in the Asia Pacific region due to presence of a large manufacturing base and expanding paint production facilities.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
