The antimony industry was worth a total of $1.9 billion back in 2021. The publisher forecasts that by 2027, the market will be worth US$ 2.8 billion, growing at a CAGR of 6.68% between 2021 and 2027. We are constantly monitoring and assessing the direct and indirect impact of the outbreak on various end-use industries in light of the unknowns surrounding the COVID-19 virus. We’ve incorporated these findings since they are essential to the overall market picture.
Defining the International Antimony Market
Among the chemical elements, antimony is one of the few that you may find in both non-metallic and metallic states. Its metallic form is silvery and brittle. Non-metallic antimony appears as a fine grey powder.
Antimony is inert to alkalis and acids and is chemically stable under dry air. Antimony is known to expand when cooled and is thought to be a poor conductor of heat and electricity. According to some sources, humans have used antimony in various ways dating back to at least 4000 BC.
In the wild, antimony can be found without much difficulty. You can also mine the mineral from stibnite and valentinite ores. Due to its extreme reactivity with substances like sulfur, silver, lead, and copper, it is assumed that only a trace amount of elemental antimony is present. Commonly used to obtain antimony is the mineral stibnitee.
Extracting antimony from its ores involves crushing the ores and then sorting out the metal by hand. China is the world leader in antimony production thanks to its enormous reserves, low labor costs, and significant workforce.
Antimony can be reused in lead-acid battery recycling. You can also find antimony in recycled products. Furthermore, it is becoming increasingly well-known as a simple antimony resource. Since pure antimony is somewhat brittle, it is usually combined with other alloys or metals to create more robust materials.
Antimony trioxide is the most widely used antimony compound in industry, and it has many different uses, such as in the creation of plastics, rubber, textiles, pigments, glass, and more.
During the forecast timeframe, the antimony market is anticipated to grow at a CAGR of over 5%. The global lockdown in response to the COVID-19 outbreak has hurt the antimony market by disrupting mining operations and supply networks, stopping production, and reducing the availability of workers. However, rising demand from a wide range of end users is expected to propel the market forward throughout the predicted horizon.
Growth in the need for fire retardant products and the production of PET plastic bottles are two of the most critical forces propelling the market. Antimony substitutes in critical applications are forecast to pose a severe threat to the development of the market under investigation.
Antimony extraction from recycled products could present a favorable opportunity in the long run. The Asia-Pacific region is anticipated to hold most of the global market share during the predicted period.
Target Audience and Market Size in the Worldwide Antimony Industry
Markets for antimony are broken down into submarkets that focus on certain products, industries, and consumers. The expansion of these submarkets will aid in the analysis of slow-growing industry sectors. It will give end-users a better grasp of the market and better insight into specific market opportunities.
Products in the antimony market include trioxides, alloys, and others. The global antimony market is broken down into subsets based on end use, such as flame retardants, plastic additives, lead-acid batteries, ceramics and glass, and others. The antimony market is divided into automotive, chemical, electrical, and electronics on an end-user basis.
What are some of the most important factors propelling the expansion of the antimony market?
Foreseeably across the projected period, flame retardants will continue to account for the vast majority of worldwide antimony consumption, trailed by lead acid batteries. One of the critical causes boosting antimony demand is the rising demand for flame retardants in a wide range of end-user sectors, including the plastics industry. Both the automotive and marine sectors make use of lead-acid batteries.
Antimony demand is anticipated to be driven during the forecast timeframe by the increasing demand for electric vehicles. Antimony is mainly used by industries that produce consumer goods like autos and textiles. Growth in the gross domestic product and purchasing power parity are vital macroeconomic factors that help propel the antimony industry.