In the first quarter of 2023, Strontium nitrate prices in Asia trended upward due to increased trading activities and a supply-demand imbalance, but this positive momentum was not sustained in the second quarter as feedstock costs and declining demand pushed prices downward.
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In Europe, prices fell in the first quarter as trading activities decreased amid economic concerns and improved supply chain efficiency, leading to rising inventories. The second quarter saw a continued decline due to consistently weak demand and a lack of new orders from domestic industries.
North America also experienced a significant price decline in the first quarter, driven by poor consumer purchasing and overall low demand, with falling feedstock costs and product oversupply further reducing prices in the second quarter.
Definition
Strontium nitrate is a chemical compound with the formula Sr(NO3)2. It is a crystalline, colorless to white solid that is highly soluble in water. Strontium nitrate is known for its use in pyrotechnics, where it produces red flames when ignited. Its role is crucial in creating red fireworks and flares. This compound is also utilized in the manufacturing of certain types of glass for television screens and cathode ray tubes. Strontium nitrate has a variety of industrial applications, primarily due to its ability to produce vivid red colors when burned and its solubility in water, making it versatile in the creation of various products and displays.
Key Details About the Strontium nitrate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Strontium nitrate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Strontium Nitrate Price Index, along with Strontium Nitrate Price Trends and pricing data for both India and the USA, offers a valuable resource for procurement managers, directors, and decision-makers. Utilizing this comprehensive analysis can empower them with strategic insights to enhance progress and profitability within the industry
Industrial Uses Impacting the Strontium nitrate Price Trend:
Strontium nitrate (Sr(NO3)2) is widely utilized in various industrial applications due to its ability to produce brilliant red flames when ignited. Its primary role is in pyrotechnics, where it serves as a crucial ingredient for creating vivid red fireworks and flares, adding vibrant colors to various displays and celebrations. It finds applications in signal flares, emergency distress signals, and military uses, providing a visual alert in maritime and tactical scenarios.
In addition to pyrotechnics, strontium nitrate plays a role in laser technology, as well as in the manufacturing of cathode ray tubes for color television screens. It can also be added to specific types of glass to enhance optical properties and color, making it valuable in glass manufacturing. While highly useful in these applications, strontium nitrate should be handled with care, adhering to safety guidelines and regulations.
Key Players:
- DuPont
- Solvay
- Honeywell International Inc
- Nemto & Co Ltd
- GloTech International
- Tavco Chemcials Inc
- RTP Company
- RC Tritec Ltd
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