Strontium Nitrate Growth Accelerated By Increasing Use In Pyrotechnics

Strontium Nitrate Market

 Strontium nitrate is an inorganic salt used in pyrotechnics due to its coloring and igniting properties. It produces a bright red flame and sparks when burned. Strontium nitrate offers cost advantages over other coloring agents and finds extensive application in products like fireworks, flares, signal devices. The global strontium nitrate market is estimated to be valued at US$ 386.3 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:
The use of strontium nitrate in pyrotechnics has been growing steadily over the years driven by increasing celebrations worldwide involving fireworks displays. Strontium nitrate produces one of the most vivid red flashes and sparks compared to other coloring agents. This has made it very popular for use in fireworks. With restart of large-scale live events and celebrations after pandemic restrictions were lifted, the demand for pyrotechnic products consumed strontium nitrate increased substantially. The trend is expected to continue as celebrations and live events regain momentum in the coming years, driving higher consumption of strontium nitrate primarily meant for pyrotechnic applications.

Segment Analysis
The global strontium nitrate market is dominated by its application segment for pyrotechnics, which holds around 61% of the total market share. Strontium nitrate is a primary component for the production of flares and igniters used in pyrotechnics and fireworks. It provides an orange-red glow when burned. Additionally, strontium nitrate is also finding increasing usage in the glass industry for manufacturing optical filters and special glasses. The glass application segment accounts for around 18% share and is expected to witness steady growth going forward.

Key Takeaways
The global strontium nitrate market analysis is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis shows that Asia Pacific region dominates the market and accounts for around 35% share currently. With strong growth in pyrotechnics and fireworks industry in China and India, the Asia Pacific strontium nitrate market is expected to maintain its dominance during the forecast period.

Key players operating in the strontium nitrate market are 23andMe, Ancestry, Mapmygenome , Helix, MyHeritage, Gene by Gene, Pathway Genomics, Veritas Genetics, Xcode, Color Genomics, Positive Biosciences, Futura Genetics, Myriad Genetics, Quest Diagnostics, Laboratory Corporation of America, Illumina, Thermo Fisher Scientific, Qiagen, Genomic Health , Nebula Genomics. Some of the major players are focusing on capacity expansion plans to leverage growth opportunities. For instance, Illumina plans to invest over US$1 billion by 2026 to triple its manufacturing capacity.

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