The global market for antimony will ride on an impressive CAGR during the forecast period, 2017 to 2022, according to a new report by Transparency Market Research (TMR). Revenues from the global antimony market will surpass revenues worth US$ 2,000 Mn by 2022-end.
APEJ to Remain Fastest Expanding Market for Antimony
Asia-Pacific excluding Japan is anticipated to remain the fastest expanding market for antimony. The region will account for the largest revenue shares of the market throughout the forecast period. Majority of the global antimony reserves are found in China. The country also account for highest production capacity, which in turn leads to ample availability and thereby adoption of antimony.
The adoption of metal for manufacturing fireproof automotive ancillaries has been increasing in China since the recent past. This has influenced demand for antimony owing to its heat stabilizing property. Antimony is also widely utilized as a catalyst for production of polyethylene terephthalate in the country.
North America to Remain Second Most Lucrative Market for Antimony
North America will continue to be the second most lucrative market for antimony, with sales forecast to reach approximately US$ 500 Mn in revenues by 2022-end. Europe will also remain an attractive region for growth of the antimony market. Revenues from sales of antimony in Europe and North America will collectively account for over one-third share of the market during the forecast period. Huge investments are being made by manufacturers in North America and Europe for refurbishing and procuring old and closed antimony mines.
The market in Japan, although account for low revenue share of the market, will register a relatively faster expansion than Europe through 2022. Middle East and Africa is expected to be the least attractive market for antimony during 2017 to 2022.
Flame Retardants – Most Lucrative End Use of Antimony
Flame retardants is anticipated to remain the most lucrative end use of antimony, followed by lead acid batteries. Revenues from sales of antimony for end use in flame retardants and lead acid batteries are estimated to reach nearly US$ 2,200 Mn by 2022-end. Lead acid batteries will remain the fastest expanding end-use of antimony, and will account for over one-third revenue share of the market in 2017. In addition, demand for antimony for end use in lead acid batteries will witness a significant rise throughout the forecast period.
Between pigments, and heat stabilizers & plastics end uses of antimony, the former will remain comparatively more lucrative than the latter. However, CAGRs projected for sales of antimony in these two end uses will be almost similar during 2017 to 2022. Demand for antimony in pigments and heat stabilizers & plastic will witness a slight decline in the foreseeable future.
The report by TMR has profiles active companies contributing to growth of the global market for antimony, which include Shenyang Huachang Antimony Chemical Co. Ltd., Belmont Metals Inc., Hsikwangshan Twinkling Star Antimony Industry Co. Ltd., AMG Advanced Metallurgical Group NV, Mandalay Resources Corp., American Elements, Tri-Star Resources plc, Nihon Seiko Co., Ltd., Atomized Products Group Inc., and United States Antimony Corp.