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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
- On the basis of the product type, the market has been divided into antimony trioxide, antimony pentoxide, alloys, metal ingots, and others.
- Based on the application, the market has been classified into flame retardants, lead-acid batteries, plastic additives (stabilizers and catalysts), glass and ceramics, and others.
- On the basis of the end use industry, the market has been segmented into chemical, automotive, electrical and electronics, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include AMG Advanced Metallurgical Group, BASF SE, Campine, 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., Recylex, Suzuhiro Chemical, Tri-Star Resources, United States Antimony, Village Main Reef Ltd., and Yunnan Muli Antimony Industry Co. Ltd.
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