The global antimony market is predicted to reach a value of US$ 2.9 Bn by 2032, with sales growing at an average CAGR of 4% from 2022 to 2032. Valued at US$ 1.7 Bn in 2021, the target market will likely reach an estimated US$ 2 Bn by the end of 2022.
Application in flame retardants and lead acid batteries will fuel the growth of the antimony market during the forecast period. As a chemical element, antimony, can be both metallic and nonmetallic. While the metallic form is a bright silvery material that is brittle, the nonmetallic form of antimony is a grey powder.
Antimony acts as a stable element that is inert to acids and alkalis in a dry environment and expands on cooling. It is an ineffective conductor of electricity and heat. Antimony, as an element, has thus gain widespread application since time immemorial and will likely continue to do so over the next few years which bodes well for the overall market growth.
Extensive application in production of flame retardants, fire-resistant products, lead acid batteries, and other such products are primary growth drivers of the antimony market. The for antimony is likely to continue to increase in similar industries during the forecast period.
Heightened demand for flame retardants in a variety of end-user industries, including plastic, has been one of the main factors amplifying the demand for antimony. Lead acid batteries are quite popular in automotive and marine applications and these sectors further aid the growth of the target market.
Furthermore, the increasing demand for electric vehicles is projected to induce more demand for the antimony market. Some of the major end-use industries for antimony are consumer goods, like automobiles and textile sectors. Consequently, macroeconomic factors such as GDP growth and purchasing power parity are capable of influencing the demand for the antimony market.
“Extensive application of the material across diverse industries such as automotive and chemical and materials will likely supplement the global growth of the antimony market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Lack of raw materials and scarcity of labor may hamper market prospects.
- The antimony market in the Asia Pacific region will dominate the global market space.
- China’s antimony market accounts for about 80% of the global antimony production.
- Rising demand for fire-resistant goods will generate lucrative opportunities in Europe’s antimony market.
Competitive Landscape
Shanghai Metal Corporation, Beijing North Xinyuan Electrical Carbon Products Co.Ltd and Qingdao Glory International Trading Co., among others are some of the major players in the antimony market profiled in the full version of the report.
Leading market players are focusing on adopting innovative production processes such as antimony production from waste streams. These businesses are keen on expanding their operations to strengthen their revenue prospects.
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