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Recent events and noteworthy trends have shaped the antimony market's future and had an impact on major companies in the sector. It is essential for stakeholders to comprehend these market trends in order to stay competitive and make wise judgments. This is a succinct summary of the market developments affecting the antimony sector:
Growing Need for Flame-Retardant Materials
The increased demand for antimony can be attributed to its crucial role in the manufacturing of flame retardants. The market for antimony has benefited from the increased usage of flame-retardant materials brought about by greater awareness of fire safety in a variety of industries, including electronics and construction.
Growing Usages for Batteries:
Antimony is used more frequently in battery production due to the rise in demand for rechargeable batteries, especially in the automobile industry. Antimony is a favored option for energy storage systems since it increases the effectiveness and performance of batteries. As the market for electric vehicles expands, this tendency is probably going to continue.
Global Shift in Antimony Production: The geographic terrain of antimony production has undergone a significant change. Despite China's historical dominance, other areas are becoming important competitors in the worldwide industry. The answer to market dynamics, such as supply chain issues and geopolitical variables impacting the entire market structure, is this diversification of production sources.
Environmental rules Affecting Production: The market for antimony is being significantly shaped by strict environmental rules. Governments across the world are paying more attention to environmental preservation and sustainability, and this includes the mining and processing of antimony. Businesses are adopting eco-friendly procedures and looking into alternative manufacturing techniques in order to comply with these rules.
Technological Developments in Mining and Processing: The production of antimony is becoming more efficient because to developments in mining and processing technology. These developments lessen the impact on the environment, increase yields, and lower costs. Businesses who use these technologies and engage in R&D have a competitive advantage in the marketplace.
Changing Prices Affecting Market Structure: A number of variables, such as supply and demand dynamics, geopolitical conflicts, and economic situations, have caused variations in antimony prices. In order to ensure that their businesses can survive the price volatility, market participants must remain alert and modify their plans.
Antimony Market Highlights:
Global Antimony Market Overview
The antimony market size was valued at USD 2.04 billion in 2023. The antimony industry is projected to grow from USD 2.19 Billion in 2024 to USD 3.64 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.50% during the forecast period (2024 - 2032). Rising demand for antimony trioxide used to make flame retardants and plastic additives and rising demand for polyethylene terephthalate (PET) packaging made with antimony are the key market drivers enhancing the market growth
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Antimony Market Trends
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Increasing demand for flame retardants is driving the market growth
Market CAGR for antimony is being driven by the rising demand for flame retardants. Most of the world's reserve is utilized in flame-retardant raw materials such as trioxide. Powdered trioxide is chemically inserted or physically blended into various products, including textiles. Although it is not a flame retardant in and of itself, the flame retardant apparel is manufactured using Sb as it suppresses and decreases the spread of flames when mixed with halogens such as bromine in polymers. Sb203 is commonly utilized in plastics, rubbers, paints, textiles, and various industrial safety garments and clothing for children to make them resistant to the spread of fire.
Additionally, the stringent regulations mandated by the Occupational Safety and Health Administration OSHA to practice flame retardant clothing drive the demand for flame retardants, further boosting the antimony market. For instance, OHSA regulation 1910.269 is referred to as the 269 Standard. This factor relates to people working in the electric power generation, transformation, control, and transmission industries. Electrical arcs are a common hazard for these workers. Employers must train employees about potential hazards, according to the 269 Standard. Electrical arcs and how they can cause flames should be taught to them. The 269 Standard also forbids personnel from wearing garments that could catch fire and injure them. Clothing that catches fire and continues to burn is prohibited.
Furthermore, antimony is fused with lead, and the resulting alloy (solid solution) is utilized in lead-acid batteries. However, environmental regulations on lead emissions have hampered the utilization of antimony in lead batteries ly. Other alloys incorporating the element make bullets, solder, cable sheaths, and organ pipes. The collection of natural antimony materials and downstream presentation of antimony products were constrained in 2021 due to raw material shortages combined with worldwide shipping delays. The antimony cost reached a high of USD 6.65 per pound in October 2021, related to the annual average price of USD 2.67 per pound in 2020, which drives the antimony market revenue.
Moreover, increasing demand for electric vehicles and flame retardants in numerous end-user industries like plastic drives the overall demand for the market. Moreover, macroeconomic factors like GDP growth and purchase power difference are the prominent drivers of the antimony market. As antimony is used in lead-acid batteries, it can also be extracted from lead-acid batteries and can be reused. This is the most prominent factor for market growth, as spare lead-acid batteries can extract antimony from that. Other factors, including rapid industrialization and growing demand for polyethylene terephthalate (PET) packaging manufactured utilizing antimony industry as a major ingredient, are anticipated to drive the market over the forecast period.
Antimony Market Segment Insights
Antimony Type Insights
The antimony market segmentation, based on type, includes antimony ingot, antimony trioxide, alloys, and others. The antimony trioxide segment dominated the market, accounting for the major market revenue over the forecast period. Antimony trioxide, also known as antimony oxide, is the most widely produced and used compound of elemental antimony. Antimony trioxide is a flame retardant in plastics, adhesives, rubber, fiberglass, and paper. It is used with a combination of halogenated compounds to function as a flame retardant.
Figure 1: Antimony Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Antimony Application Insights
The antimony market segmentation, based on application, includes flame retardants, stabilizers, catalysts, alloy strengthening agents, semiconductors, enamels, and others. The flame retardants category generated the most income over the forecast period. Flame retardants are those chemicals or ingredients used in materials to prevent the start of or to slow down a fire. Flame retardants have been used in consumer and industrial products since the 1970s to reduce the ability of materials to catch fire or ignite. Antimony oxide acts as a condensed form of flame retardant in materials.
Antimony End-User Insights
The antimony market segmentation, based on end-user, includes transportation, chemicals, electronics, ceramic & glass, food & beverages, cosmetics, and others. The ceramic & glass category generated the most income over the forecast period. Antimony is used as an additive in fiberglass composites. Antimony compounds are added directly to the resin and dispersed using standard mixing equipment.
Antimony Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific antimony market area will dominate this market due to the presence of a substantial production base and end-user industries. Because of its enormous reserves, China produces more than half of the world's production. Moreover, China antimony market held the largest market share, and the Indian antimony market was the fastest-growing market in the Asia-Pacific region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ANTIMONY MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe antimony market accounts for the second-largest market share due to growing demand for safe and fire-resistant products, and industries are adopting similar product patterns in this region. Further, the German antimony market held the largest market share, and the UK antimony market was the fastest-growing market in the European region.
The North America antimony market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to rising demand from the electronics sector for manufacturing consumer electronics assists the growth in this region. Moreover, the US antimony market held the largest market share, and the Canada antimony market was the fastest-growing market in the North America region.
Antimony Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the antimony market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The antimony industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the antimony industry to benefit clients and increase the market sector. Major players in the antimony market, including AMG, Mandalay Resources, Belmont Metals, American Elements, GeoProMining, Ltd., Korea Zinc, Nihon Seiko Co. Ltd., and others, are attempting to increase market demand by investing in research and development operations.
Campine S.A. is a diversified company that manufactures and sells flame retardant systems and recycles lead oxides and batteries distributed throughout Western Europe. Campine operates subsidiaries in France, the United States, Australia, and Belgium. In January 2021, Campine enhanced its recycling activities with a creative process to recycle chemicals directly from post-consumer and industrial metal trash. It contains the production of antimony from trash streams.
Clariant International Ltd, a subsidiary of Clariant AG, is a specialty chemicals company. It develops, manufactures, distributes, and sells specialty chemicals in customers' manufacturing and treatment processes. Its product portfolio includes additives, automotive fluids, agricultural residues, petrochemical catalysts, performance materials, surfactants, mining chemicals, intermediates, and emulsions. The company's products find application in industrial, home care, paints and coatings, crop protection, automotive, plastic, transportation, refining, and pharmaceutical markets. It operates through a network of manufacturing facilities, research and development, and technical centers worldwide. In November 2019, Clariant introduced a new antimony-trioxide-free method for molding and laser-marking thermoplastic urethane ear tags for determining cattle and other livestock. Working with Coherent, Inc., Clariant produced an additive masterbatch that, when counted to the TPU commonly utilized to mold ear tags, creates a polymer more sensory to the near-infrared laser light from coherent laser markers.
Key Companies in the Antimony market include
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AMG Advanced Metallurgical Group American Elements
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Mandalay Resources Ltd.
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Hunan Chenzhou Mining Group Co. Ltd.
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Korea Zinc
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Geopromining Ltd.
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Consolidated Murchison Mine
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Umicore
Antimony Industry Developments
June 2019: United States Antimony Corporation reported continuous capacity expansion at its smelter in Madero, Coahuila, Mexico. The third long rotary furnace (LRF) will be installed as part of this. Three more LRFs are in the company's inventory. The additional capacity is planned to meet production increases from the Company's Wadley and Sierra Guadalupe Mines, with furnace recovery in the 96 percent to 98 percent range.
Antimony Market Segmentation
Antimony Type Outlook
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Antimony Ingot
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Alloys
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Antimony Trioxide
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Others
Antimony Application Outlook
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Flame Retardants
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Stabilizers
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Catalysts
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Alloy Strengthening Agents
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Semiconductors
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Enamels
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Others
Antimony End-User Outlook
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Transportation
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Chemicals
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Electronics
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Ceramic & Glass
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Food & Beverages
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Cosmetics
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Others
Antimony Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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