Strontium ferrite powder is extensively used in the manufacturing of permanent magnets, which are integral components in various electronic devices and automotive applications. The global strontium ferrites market size was valued at approximately USD 2.1 billion in 2023 and is projected to reach around USD 3.5 billion by 2032, growing at a CAGR of 5.6% . The surge in electric vehicle production and renewable energy projects has significantly boosted the demand for strontium ferrite magnets. The price of strontium ferrite powder is influenced by the availability of raw materials, energy costs, and technological advancements in production processes. With the increasing demand for high-performance magnets, prices are expected to experience a moderate rise. However, innovations in manufacturing techniques may offset some cost increases, leading to price stabilization in the long term.