Press release
Antimony Market 2024-2033: Latest Trends, Recent Developments, Growth Strategy And Major Players
Antimony Market
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.
Market Overview -
Antimony refers to a semi-metallic chemical element that has a silvery white color and is poisonous in nature. A good conductor of heat and electricity, it is unaffected by diluted acids or alkalis and stable in dry air. It occurs naturally in the environment and is available in two forms, Metallic antimony is bright, silvery, hard, and brittle; non-metallic antimony is a gray powder.
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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
Strategic Collaborations Redefining The Antimony Industry Landscape
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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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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