Press release
Antimony Global Market Size, Share Report, Growth Prospects, Developments Plans, Future Insights and Trends Analysis Till 2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Antimony Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The antimony market size has grown strongly in recent years. It will grow from $4.43 billion in 2023 to $4.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to industrial demand, flame retardant applications, regulatory influences, electronics sector growth, mining and supply dynamics.
The antimony market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to advanced electronics, EV revolution, stringent regulations, global economic conditions, exploration and mining developments. Major trends in the forecast period include green technologies, battery technologies, market expansion in Asia-Pacific, shift towards sustainable antimony production, supply chain challenges and price volatility.
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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
Major Driver - Antimony Market Surges Amid Rising Fire Accidents
The increasing number of fire accidents and stringent fire safety regulations are expected to propel the growth of the antimony market. According to fire safety rules, prevention is the first step in avoiding fire-related accidents. As a result of an increase in fire accidents, demand for fire safety regulations, led to an increase in antimony production as antimony is commonly used as a flame inhibitor in fire-resistant apparel, flame retardants, and various fire protection systems. For instance, in November 2023, according to reports published by the National Fire Protection Association (NFPA)., a US-based nonprofit organization, in 2022, the US local fire departments are to react to 1.5 million fire accidents. These fires claimed the lives of 3,790 civilians and injured 13,250. The property damage from these fires is estimated to be $18 billion. Additionally, from 2021 to 2022, the number of apartment fire deaths increased by 14%, injuries by 7%, and property losses by 6%. Therefore, a rise in fire incidents and stringent fire safety regulations drive the antimony market.
Competitive Landscape:
Major companies operating in the antimony market report are 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
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Top Trend - Investments Propel Leading Companies In The Antimony Sector
Major companies operating in the antimony market are focused on investments and funding to strengthen their position in the market. Investments and funding refer to the allocation of financial resources, typically in the form of capital, to support a particular project, business, or initiative. For instance, in August 2023, Perpetua Resources Corp., a US-based mining company received an Ordnance Technology Initiative Agreement (OTIA or Agreement) with a potential value of up to $15.5 million under the Prototype Other Transaction (OT) authority from the Department of Defense (DoD) through the DoD Ordnance Technology Consortium (DOTC).
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Antimony Market Characteristics
3. Antimony Market Trends And Strategies
4. Antimony Market - Macro Economic Scenario
5. Antimony Market Size And Growth
…..
27. Antimony Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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