Antimony Market Worth 2.37 billion USD by 2023
PUNE, India, July 2, 2018 /PRNewswire/ --
According to the new market research report "Antimony Market by Product Type (Trioxides, Alloys), Application (Flame Retardants, Plastic Additives. Lead-Acid Batteries, Glass & Ceramics), End-Use Industry (Chemical, Automotive, Electrical & Electronics), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the Antimony Market is projected to grow from the estimated USD 1.77 billion in 2018 to USD 2.37 billion by 2023, at a CAGR of 6.0% between 2018 and 2023. The demand for antimony, particularly in flame retardant application, has increased gradually. The use of antimony in catalyst used in polyethylene terephthalate (PET) production has also witnessed growth.
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The antimony trioxide (ATO) segment is projected to witness highest CAGR during the forecast period.
ATO dominated the overall Antimony Market in 2017. ATO is widely used in flame retardant in many industries. In addition, ATO is also used as catalyst and stabilizer in plastic production. Other minor uses of ATO include glass & ceramics, pigments, solders, bearing metals, and semiconductors, among others.
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The flame retardant application is projected to lead the overall Antimony Market during the forecast period.
The flame retardant application dominated the overall Antimony Market, in terms of value and volume, in 2017. Antimony is used as a flame synergist with halogens. Antimony, in the form of ATO, is used in flame retardant in plastics, furniture, mattresses, fabrics, and others.
APAC is estimated to be the largest market for antimony in 2018.
APAC accounted for the largest share of the global Antimony Market in 2017. Rapid industrialization and increasing FDI in different end-use industries, mainly in the industrial manufacturing, polymer, and automotive industries, are driving the demand for antimony in flame retardant and plastic additive applications. Emerging economies such as China and South Korea are some of the major Antimony Markets in the APAC region.
Major players operating in the Antimony Market include AMG Advanced Metallurgical Group (Netherland), Mandalay Resources (Canada), United States Antimony Corporation (USAC) (US), Korea Zinc (South Korea), Recyclex (France), Nihon Seiko (Japan), Umicore (France), Hunan ZhongNan Antimony & Tungsten Trading Co., Ltd. (China), Huachang Antimony Industry (China), Consolidated Murchison Mine (South Africa), and Hsikwangshan Twinkling Star Co. Ltd. (China). These companies have strong presence in the Antimony Market and are continuously undertaking efforts to improve their business strategies and product portfolios.
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