The antimony market has demonstrated robust growth in recent years, escalating from $4.43 billion in 2023 to $4.76 billion in 2024, indicating a compound annual growth rate (CAGR) of 7.4%. This growth in the historic period can be attributed to factors such as industrial demand, flame retardant applications, regulatory influences, the growth of the electronics sector, and dynamics in mining and supply. Looking ahead to 2028, the market size is anticipated to experience strong growth, reaching $6.13 billion at a CAGR of 6.6%. Factors contributing to this growth in the forecast period include advanced electronics, the Electric Vehicle (EV) revolution, stringent regulations, global economic conditions, and developments in exploration and mining. Major trends in the forecast period encompass green technologies, battery technologies, market expansion in Asia-Pacific, the shift towards sustainable antimony production, and challenges in the supply chain coupled with price volatility.
Major Driver In The Antimony Market
The mounting occurrences of fire accidents and the enforcement of stringent fire safety regulations are anticipated to propel the expansion of the antimony market. Fire safety protocols prioritize prevention to mitigate fire-related incidents. As fire accidents surge, the demand for fire safety measures rises, consequently driving antimony production. Antimony finds widespread application as a flame inhibitor in fire-resistant apparel, flame retardants, and various fire protection systems. Reports from the National Fire Protection Association highlight the alarming statistics of fire incidents in the US, where local fire departments responded to 1.5 million incidents in 2022, resulting in casualties, injuries, and substantial property damage. The prevalence of apartment fire deaths, injuries, and property losses has witnessed a concerning increase from 2021 to 2022, emphasizing the imperative for robust fire safety measures. Therefore, the uptick in fire incidents coupled with stringent regulations fortifies the demand for antimony. In 2023, the antimony market was valued at $P billion and is expected to reach $Q billion by 2024, further escalating to $R billion by 2028.
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Antimony Market Competitive Landscape
Village Main Reef Ltd., Badische Anilin- und Sodafabrik (BASF), China Minmetals Corporation, United States Antimony, GeoProMining Ltd., C. Steinweg Group, Tri-Star Resources PLC, China Antimony Trioxide Corporation, Consolidated Murchison Mine, AMG Advanced Metallurgical Group, Recylex S.A., Campine NV, Beaver Brook Antimony Mine Inc., Mandalay Resources Ltd, Hsikwangshan Twinkling Star Co. Ltd., Dongguan Jiefu Flame-Retarded Materials Co. Ltd., Nihon Seiko Co. Ltd., NYACOL Nano Technologies Inc., Belmont Metals, Huachang Antimony Industry, Hunan Chenzhou Mining Group Co. Ltd., Lambert Metals International, Suzuhiro Chemical, Yunnan Muli Antimony Industry Co. Ltd., China Antimony Chemicals Co. Ltd., Sarylakh-Surma and Zvezda, Antimony Metal Processing South Africa (Pty) Ltd., Antimony Recovery from End-of-Life Products, Guangxi Youngsun Chemicals Co. Ltd., Xikuangshan Antimony Company Limited
Key Antimony Market Trend
Strategic collaborations and joint ventures between companies are a key trend gaining popularity in the antimony market. Companies producing antimony are undergoing partnerships and collaborations to develop new technologies and antimony products. For instance, in May 2021, United States Antimony, a company that produces antimony and sells antimony products, and Perpetua, a mining company that is based in the United States, signed a collaboration agreement. This potential partnership would provide the only antimony products mined and refined in the United States. Both companies benefit from the mine's proximity to US Antimony's processing facilities.
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Antimony Market Segmentation
The antimony market covered in this report is segmented –
1) By Type: Antimony Trioxide, Antimony Pentoxide, Alloys, Metal Ingots, Other Types
2) By Application: Flame retardant, Plastic additives, Lead acid batteries, Glass & ceramics, Other Applications
3) By End User Industry: Chemical, Automotive, Electrical & electronics, Other End-Users
By Geography:The regions covered in the antimony market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the antimony market in 2023.
The Antimony Global Market Report 2024 furnishes information about the global antimony market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
