Antimony Market size is poised to cross USD 2.2 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of antimony was over USD 1 Billion. Higher utilization of antimony in battery manufacturing is anticipated to be one of the major growth drivers of the market. For instance, the global demand for batteries was estimated to be approximately 180 GWh in 2020 and is further anticipated to reach more than 1,900 GWh by 2030. Besides, the growth of the market is accounted to the constantly growing electronic industry and the growing awareness of fire safety. Data provided by the National Fire Protection Association (NFPA) demonstrated that in 2020, there had been about 1,388,500 fire incidents in the United States.
The global antimony market is estimated to witness remarkable growth on the back of the up-surged requirement for antimony in fire safety. Although antimony has no flame-retardant properties, when it is utilized with halogenated compounds, it creates flame-retardant properties owing to the synergistic effect. Institute for Health Metrics and Evaluation released a set of data showing that more than 120,000 deaths were caused due to heat-related incidents in 2017 across the globe. Also, the increasing electrical arcs and the associated hazards, increasing use of plastic additives, and rising investment to reduce fire accidents. Hence, all such demands and requirements for antimony are projected to propel the growth of the market over the forecast period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
7% |
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Base Year Market Size (2022) |
USD 1 Billion |
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Forecast Year Market Size (2035) |
USD 2.2 Billion |
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Regional Scope |
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The global antimony market is segmented and analyzed for demand and supply by type into alloys and trioxides, out of which, the trioxides segment is anticipated to hold a notable share in the global antimony market during the forecast period on account of its higher utilization in pigments, rising production of ceramics, increasing fire accidents as antimony trioxide is flame-resistant agents and rising use in staining of copper and iron. Antimony trioxides are also utilized in the decolorizing of glass. For instance, the revenue of the dyes and pigments industry is projected to reach about USD 1100 million by the year 2015.
The global antimony market is also segmented and analyzed for demand and supply by the end-user industry into automotive, chemical, electronics, and others. Out of these segments, the chemical industry segment is anticipated to garner the highest market share. This can be owed to the use of antimony to create lead-acid batteries and flame retardants, apart from alloys. The use of lead-acid batteries is bound to increase as electric vehicles (EVs) become more widespread. For instance, it is estimated that there are more than 18 million EVs on the road, globally.
Our in-depth analysis of the global antimony market includes the following segments:
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By Type |
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By Application |
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By End-User Industry |
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Asia Pacific Market Forecast
The Asia Pacific region antimony market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market is ascribed to the developing electronic and automotive industries in the region. For instance, the electronic industry in the Asia Pacific region amounted to about USD 250 billion in 2020. Additionally, higher demand for antimony in the automotive industry is further anticipated to propel the growth of the market over the forecast period. For Instance, revenue generated by motor vehicles and other parts dealers in the U.S. was estimated to be around USD 1 million in 2021. Furthermore, the total sale of light vehicles in the U.S. was estimated to be around 13 million units in 2021. Additionally, with the increasing government and public sector initiatives, alternate uses of antimony, and an upsurge of fire safety regulations in all commercial and private spaces is estimated to grow rapidly in the region during the forecast period.
Europe Market Forecast
Additionally, the market in the European region is also projected to grow rapidly over the forecast period. The EU has been a significant global producer of oxide ever since the preceding decade. The production of oxide in the EU is dependent on imported refined copper elements. Lead acid batteries from Europe are anticipated to boost the market demand.
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Author Credits: Smruti Ranjan, Rajrani Baghel
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