The increasing demand for strontium in the form of strontium sulfate in the painting industry is expected to boost the strontium market'. It is used as a pigment extender or filler for enhancing the performance of liquid paints and powder coatings. Furthermore, it also has amazing mechanical properties and provides UV resistance along with improved film coverage. The rise in construction activities, especially in developing nations due to robust economic growth, will boost this market's growth due to an increased demand for paints and coatings in the interior of the houses to add colors or for decorative purposes. The growth of various other end-user industries will also propel the consumption of paints and coatings, which will further boost the strontium market.
Impact of COVID-19
The coronavirus outbreak is expected to hinder the growth of the global strontium market in the near future. The forced lockdown strategies and less physical movements across the globe are likely to cause supply, demand, and financial shocks for this market. The dependence of this market on various other industries will restrict its growth. Factors such as temporary shutdowns, weak investments, demand fluctuations, and unavailability of raw materials are anticipated to affect the market severely. Furthermore, major breakages in the entire management and supply chain contracts linked to this sector directly or indirectly are also expected to be a restraining factor for the market.
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Strontium Market Segmentation
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now