Research Nester published a report titled “Antimony Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global antimony market in terms of market segmentation by type, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global antimony market is projected to grow at a CAGR of ~7% by attaining a noteworthy revenue during the forecast period, i.e., 2022 – 2031. The rising utilization of antimony in plastic additives and growing concern toward fire safety is anticipated to propel the growth of the market during the forecast period. As of 2020, plastic production was projected to be approximately 350 million metric tons worldwide. Additionally, the higher utilization of antimony in the manufacturing of batteries is also projected to be a significant growth driver of the market during the forecast period. In 2020, the global demand for batteries was expected to be around 180 GWh.
All these factors are estimated to propel the growth of the market over the forecast period. Additionally, by type, the global antimony market is segmented into alloys and trioxides. Out of these sub-segments, the trioxides segment is estimated to obtain a notable share in the market during the forecast period. The growth of the segment can be accounted to its significant utilization in ceramics, pigments, to stain the copper and iron, and others. Antimony is also highly utilized to decolorize glass. Additionally, it is more expensive than antimony alloys.
Furthermore, the global antimony market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is estimated to grow at a noteworthy pace over the forecast period on the back of factors such as, the constantly growing electronic and automotive industry. As of 2020, the Asian electronic industry amounted to approximately 250 U.S. billion dollars. Based on these factors, the market is projected to grow exponentially in the region over the forecast period.
Moreover, the Asia Pacific region is further estimated to provide lucrative growth opportunities for the global antimony market over the forecast period. Rising awareness of fire safety is considered to be one of the major reasons to hike the growth of the market during the forecast period. National Fire Protection Association (NFPA) released a set of data in 2020 stating that there were almost 1,388,500 fire incidents in the USA.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).
In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Rising Cases of Fire Incidents to Foster the Growth of the Market
The Institute for Health Metrics and Evaluation released a set of data in 2017 showing that more than 120,000 deaths were heat-related incidents worldwide.
Antimony is known to contain flame retardant agents and that is one of the major reasons for the utilization of antimony to prevent sparks of flame. The chemical compound of antimony, Sb203 (trioxide), is utilized in the manufacturing of children’s clothes and safety suits to avoid the unexpected spread of flames. Therefore, such factors are anticipated to propel the growth of the market.
However, the geopolitical tensions among countries regarding smoother supply of antimony is expected to operate as a key restraint to the growth of the global antimony market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global antimony market which includes company profiling of AMG Advanced Metallurgical Group N.V., GeoProMining Ltd., Nihon Seiko Co., Ltd., Mandalay Resources Ltd., Belmont Metals Inc., United States Antimony Corporation, Hunan Gold Corporation Limited, DuPont de Nemours, Inc., Formosa Plastics Corporation, U.S.A., and Umicore. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
On the whole, the report depicts a detailed overview of the global antimony market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.