Strontium Nitrate Market: By Grade (High Purity (<99%) and Ultra-High Purity (>99%)), By End User (Fireworks, Pyrotechnics, Chemical Industry, Nanotechnology, and Pharmaceutical) and By Geography  

Strontium Nitrate Market size poised to grow at a significant CAGR of 5.3% during the forecast period 2023-29. The global market provides a detailed overview and which can be segmented by grade, end user, and region. By grade, the strontium nitrate market has been segmented into high purity (<99%) and ultra-high purity (>99%). By grade, the ultra-high purity ((>99%) segment is expected to have the fastest growth rate over the forecasted period due to its rising demand in the pharmaceutical sector. Based on the end user, the segment has been segregated into fireworks, pyrotechnics, chemical industry, nanotechnology, and pharmaceutical. The chemical industry segment is anticipated to lead the strontium nitrate market. As, it is used for the production of high-purity and ultra-high-purity compounds, catalysts, and nanoscale materials. For instance, strontium nitrate could be used for the preparation of strontium ferrite and calcium-substituted strontium hexaferrite nanoparticles by a method called the chemical co-precipitation method.