According to the latest report by IMARC Group, titled “Antimony Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global antimony market size reached US$ 1.92 Billion in 2020. Antimony refers to the chemical element that is either derived from the naturally occurring sulfide mineral stibnite or can be extracted from ores, such as valentinite and stibnite. Widely available in metallic and non-metallic forms, the metallic variant of the element is characterized by a brittle nature and bright silver color, whereas the non-metallic form is a grey powder. The element is required to be combined with other metals to improve its durability for applications requiring improved strength. It is widely utilized for numerous applications, such as cosmetics, textiles, batteries, semiconductor devices and flame retardants, across numerous industries.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Antimony Market Trends:
The market is primarily driven by the escalating utilization of flame retardants across numerous industry verticals, including electrical, construction, automotive and aerospace. The market is further driven by the increasing utilization of the chemical element in the manufacturing of lead-acid batteries. It is widely used as a strengthening agent for lead alloys of these batteries, which are further employed as a crucial component of electric vehicles (EVs). Their utilization assists in improving the reliability of the vehicle while delivering high currents and offering a low internal impedance and indefinitely extended shelf life when stored without an electrolyte. The rising sales of EVs can be accredited to the inflating per capita income levels of the masses, the growing need for minimizing carbon dioxide emissions and the stringent government regulations imposed to reduce air pollution. Moreover, antimony is extensively utilized as polycondensation catalysts in the manufacturing process of polyethylene terephthalate (PET). The growing preference for PET in food packaging and beverage bottling, along with its exceptional recyclable properties, is creating a positive outlook for the market. Some of the other factors contributing to the market growth include the growing demand for antimony-based fiberglass composites with chemical and heat-resistant properties, and the rising utilization of antimony in the production of numerous consumer electronics. On account of the aforementioned factors, the market is anticipated to register a CAGR of around 4.81% during 2021-2026.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- AMG Advanced Metallurgical Group
- BASF SE
- Huachang Antimony Industry
- Hunan Chenzhou Mining Group Co. Ltd
- Korea Zinc Co. Ltd
- Lambert Metals International
- Mandalay Resources Ltd
- Nihon Seiko Co., Ltd
- NYACOL Nano Technologies, Inc
- Suzuhiro Chemical
- Tri-Star Resources
- United States Antimony
- Village Main Reef Ltd.
- Yunnan Muli Antimony Industry Co. Ltd
Antimony Market Segmentation:
Our report has categorized the market based on Region, Product Type, Application and End-Use Industry.
Breakup by Product Type:
- Antimony Trioxide
- Antimony Pentoxide
- Metal Ingots
Breakup by Application:
- Flame Retardants
- Lead-Acid Batteries
- Plastic Additives
- Glass and Ceramics
Breakup by End-Use Industry:
- Electrical and Electronics
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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