Apr 23, 2019 (MarketersMedia via COMTEX) -- Antimony Market: Information by Type (Antimony Ingot, Antimony Trioxide), Application (Flame Retardants, Catalysts, Alloy Strengthening Agents), End-Use Industry (Transportation, Chemicals, Electronics, Ceramics & Glass), & Region--Forecast till 2023
Pune, India - April 23, 2019 /MarketersMedia/ --
Antimony Market Overview:-
Antimony is a chemical element that exists in both metallic and non-metallic forms. The metallic form of antimony is silvery-white in color and brittle whereas the non-metallic form is a grey powder. It occurs naturally in the earth's crust and forms minerals such as stibnite, kermesite, and valentite. Traces of antimony are also found in ores such as ilmenite, olivine, galena, sphalerite, and pyrite.
Antimony Market Competitive Analysis:-
Amspec Chemical Corporation (US), Artemis Resources (Australia), BASF SE (Germany), Campine (Belgium), Huachang Antimony Industry (China), Korea Zinc Co., Ltd (South Korea), Recylex (France), United States Antimony Corporation (US), Nihon Seiko Co., Ltd (Japan), Umicore (Belgium), Mandalay Resources Ltd. (Canada), American Elements (US), and Belmont Metals (US)
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The growth of the global antimony market is primarily driven by the increasing use of the element as a flame retardant in major industries such as building and construction, automotive, electrical and electronics, and aerospace.
Antimony is used as a strengthening agent for lead alloys in the manufacturing of lead acid batteries, which are extensively used in electric vehicles as they are reliable, can deliver high currents, and have a low internal impedance and indefinite shelf life when stored without an electrolyte. Stringent regulations for environmental protection and reduction of CO2 emissions are expected to fuel market growth during the forecast period.
For instance, the European Union has set an emission reduction target of 95 grams of CO2 per kilometer, the fleet average to be achieved by all new cars.
Antimony Industry Regional Analysis:-
Asia-Pacific accounted for the majority of the market share in 2017 due to the high demand for antimony in major industries such as transportation, electronics, food & beverage, chemicals, and cosmetics in the region. The growing building and construction, automotive, electrical and electronics, and aerospace industries in the region have also resulted in an increased demand for antimony as a flame retardant.
The rising adoption of hybrid and electric vehicles for environmental protection coupled with various government initiatives such as the Bharat Stage Emission Standards (BSES) in India is resulting in the increased demand for antimony in the transportation industry, especially automotive, which is driving market growth. Moreover, the growing use of PETin food packaging and beverage bottling is expected to propel market growth.
The demand for packaged food is increasing due to the changing lifestyles and high disposable incomes of consumers. The growth of the electronics industry in Japan, China, and India is another factor driving the demand for antimony.
Antimony Global Market Segmentation:-
The global antimony market has been segmented on the basis of type, application, end-use industry, and region.
By type, the market has been categorized as antimony ingot, antimony trioxide, alloys, and others.
On the basis of the application, the global antimony market has been segmented into flame retardants, stabilizers, catalysts, alloy strengthening agents, semiconductors, enamels, and others.
Based on the end-use industry, the market has been divided into transportation, chemicals, electronics, ceramics & glass, food & beverage, cosmetics, and others.
North America accounted for the second-largest market share in 2017 due to the growing demand for metalized films in the food & beverage, construction, and aerospace industries. The increasing demand for packaged food due to the high standards of living in the region is one of the factors driving market growth in the region. Additionally, the growing aerospace industry in the region with the presence of major aircraft manufacturers such as Boeing and AAI Corporation is expected to fuel market growth.
The market in Europe is expected to showcase substantial growth owing to the high production and sales of automotive parts in the region. Stringent regulations set by the European Union for CO2 emission reduction are expected to drive the demand for electric vehicles, which in turn, will lead to the growth of the antimony market.
The Latin American market is expected to grow substantially as well due to the demand for antimony in the food & beverage and cosmetics industries.
The rising demand for antimony in the building and construction industry in the Middle East & Africa is expected to fuel market growth during the forecast period.