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COVID-19 Impact on Antimony is estimated to grow at a CAGR of 6.2% During Forecast Period 2020 to 2026
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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.
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.
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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.
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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