Global Antimony Market - Segmented by Type, Application and Geography - Growth, Current Trends and Forecast (2018 - 2023)
The Global Antimony market is expected to grow at a fast pace during the forecast period, 2018-2023. The Asia-Pacific region is estimated to lead the market due to a rapid growth in its electronic and metal industries. This growth is estimated due to its various uses in the fire retardant, semiconductors and electronic devices, lead batteries & bead alloys, chemicals, medicine and cosmetics, ceramics & glass industries.
Growing Demand for Flame Retardant Products
The increasing demand for antimony trioxide in the production of flame retardants, to manufacture household goods, including consumer electronics, clothing, and toys in developed countries, has propelled the growth of the market. Handheld devices, such as, mobile phones, tablets, calculators, smart watches, among others, are the major products dominating the flame retardant market. The sales of smartphone, globally, is increasing, which is expected to boost the demand for flame retardants, in turn, driving the antimony market.
Wide Application in the Fiberglass Composites market
Antimony is used as an additive in the fiberglass composites application. Composites are being increasingly used as a replacement to all conventional materials in many applications, such as, aerospace, automobiles, construction, electrical & electronics, because of their high strength, low cost, easy-processing ability, and availability in various forms and shapes with good aesthetics. Due to the high strength of fiberglass composites, they are also used in many structural applications in the automotive and aerospace industries. Therefore, growth in this market will lead to increase in the global antimony market.
Government Regulation in China Detain Illegal Production
China is the largest consumer and producer of antimony, holding the highest number of antinomy reserves. With highly available reserves and restricted government policies, the demand in the Chinese market has witnessed a gradual increase. The Chinese government has maintained a tight hold on illegal mining, due to which, the production in the country will be regulated. The government is setting up a tracing system to gather information regarding invoice and other export data, to restrict illegal production. This will reduce the illegal selling, boosting the revenue of the market.
Notable Developments in the Market
February 2018: MG announces a long-term spent catalyst recycling agreement and recycling capacity expansion.
July 2017: Synthomer plc, a UK-based chemicals company, announced that it would expand the NitrileLatex manufacturing capacity, at the Pasir Gudang plant, Malaysia.
Major Players: Hunan Zhongnan Antimony & Tungsten Trading Co. Ltd, Mandalay resources corporation, Yunnan Muli Antimony Industry Co. Ltd, Guangdong Minmetals Imp. & Exp. Group, and BASF, amongst others.
Reasons to Purchase this Report
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Countries expected to witness the fastest growth during the forecast period
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