Antimony Market projecting a CAGR of 6.27% during the forecast period, 2020-2026
Published | 16 March 2020
According to BlueWeave Consulting, the global Antimony market has reached USD 2.14 Billion in 2019 and estimated to reach USD 3.251 Billion in 2026 and anticipated to grow by CAGR of 6.27% during the forecast period 2020-2026. The rising demand for electric
vehicles during the forecast period expected to drive the demand for Antimony
in the global market with the lucrative growth rate.
The increasing trend &
interest in electric vehicles is due to expanding natural concerns and the
spotlight on lowering fuel use—besides, increasing demand for
environment-friendly vehicles. Diseases caused by air and water pollution are
epidemic among minorities creating demand & witness growth of EV in
upcoming years. Lead-acid batteries structure an essential piece of electric
vehicles and generally use Antimony in these batteries.
Stringent legal frameworks
and industry standards strongly influence the production of flame retardants.
Fire safety regulations are becoming strict around the globe, leading to
innovative flame retardants being developed. Fire safety regulations vary
across regions, depending on the corresponding national health and
environmental safety regulations. Such regulations are particularly stringent
in Europe and North America and will drive lucrative growth in the antimony market
during the forecast period. Besides, macroeconomic factors such as GDP growth
and the difference in purchasing power are important drivers of the antimony
market.
Increasing
Usage in Fiberglass Composites Application contributing to a significant growth
rate in global antimony market during the forecast period
In current trend antimony
used as an additive to fiberglass composites, these compounds are added
directly to the resin and spread through standard mixing machines. Resin
combined with Antimony often stirred to keep the products well balanced.
Antimony is commonly used because of its properties, which are better
heat-resistant and chemical-resistant. The market for fiberglass composites is
expected to grow at a fast pace and indirectly drive the growth trend of the
antimony market across the globe. Composites are rapidly replacing all
conventional materials in many applications, such as aerospace, automobiles,
construction, electrical, and electronics, due to their high strength, low
cost, easy processability, and availability in various forms and shapes with
excellent aesthetics.
China
is expected to witness lucrative demand in the Asia-Pacific region
Geographically antimony
market segmented into the field of North America, Europe, Asia-Pacific, Latin
America & Middle East & Africa. The Asia Pacific, the leading antimony
producers are China, Australia, Tajikistan, and Myanmar. China comes out as an
effective antimony exporter. Shipments of Antimony from China sometimes delayed
due to strict export control across the border with Vietnam. The geopolitical
situation along China and Vietnam's borders also contributes to the shutdown of
exports of Antimony at the Vietnam-China border. Electronic products have the
highest growth in the consumer electronics market, such as smartphones, OLED
TVs, laptops, etc. As the middle-class population's disposable income rises,
demand for electronic products is projected to grow in the near future,
boosting the country's antimony sector. The region's market is driven by the
high demand in applications for flame retardants, plastic additives, and
lead-acid car batteries. China has the largest antimony reserves
Health
effects associated with exposure to Antimony expected to hamper the market
growth with a considerable rate in upcoming years
The adverse health impact
associated with antimony toxicity, such as health risks includes lung cancer,
skin irriation, and difficulty breathing, among others, are one big obstacle
for the global antimony market. Strict government regulations are the product
of the factor mentioned above, and this also affects the overall demand for
Antimony.
Browse Detailed Table of
Contents, “Antimony Market, By Product
Type (Trioxides, Alloys & Others), By Application (Plastic Additives, Flame
Retardants, Lead-Acid Batteries, Glass and Ceramics), By End-Use Industry
(Chemical, Automotive, Electrical, and Electronics), and By Region (North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa);
Trend Analysis, Competitive Market Share & Forecast, 2016-26”
AT https://www.blueweaveconsulting.com/antimony-market-bwc19431
Antimony:
Competitive Landscape
The major market players in
the antimony market are focusing on explaining their portfolio of services in
the global market. Such as AMG Advanced Metallurgical Group, Mandalay Resources
Ltd, United States Antimony Corporation, Korea Zinc, Recyclex, Nihon Seiko Co.,
Ltd., Umicore, Hunan Chenzhou Mining Group Co., Ltd, Huachang Antimony
Industry, Geopromining, Ltd., Consolidated Murchison Mine, Belmont Metals,
American Elements, Tri-Star Resources PLC, Amspec Chemical Corporation and
Other Prominent Players.
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