Growing flame retardant applications and booming electronics industry is driving the global antimony trioxide market
Covid-19 Impact & Market Status:
Because of the pause in building and construction operations, the COVID 19 pandemic has had a negative influence on the antimony trioxide market. Cross-border trade restrictions, on the other hand, impacted the antimony trioxide market's supply chain. So, the market's growth has slowed. PET polymers, which are a significant user of antimony trioxide, saw a drop in demand as a result of the worldwide lockdown. During the pandemic, sales of electrical and electronic equipment took a hit all across the world. All of these things together had a disastrous impact on the market. However, the market is likely to recover in the aftermath of the pandemic, since demand for the aforementioned products will skyrocket.
In the post-pandemic period, demand for antimony trioxide is predicted to expand at a stable rate until the conclusion of the forecast period. The Asia-Pacific and LAMEA regions are expected to be the primary sources of demand due to increased need for electrical and electronic devices for both personal and corporate use, as well as a growing pace of building and construction activities. The fast economic development and industrialization of developing countries has enlarged the consumer base and provided an exceptional opportunity for the Asia-Pacific antimony trioxide market to flourish. The need for PET plastic for food packaging containers and PET bottles is rapidly increasing around the world, giving rise to the PET plastic market.
This report provides financial data on the global antimony trioxide market including market size, Compound Annual Growth Rate, annual GDP, growth forecasts, and future projections. It gives a comprehensive overview of the global antimony trioxide market value chain, applications, types, categories, segments, and sub-segments. The report provides insights from numerous primary and secondary source and interviews with companies leading the market and in-depth analysis of latest trends and recent developments in the market. The drivers for adoption in highly performing nations across the world are explained in the report. The segments that are driving global antimony trioxide market growth in regions like North America, APAC, Europe are discussed in the report. The major segment driving investments the aforementioned regions are given in the report. The key factors that have led back the adoption in the above regions are given in the report.
Plastics Segment Gathered Highest Market Revenue
The global antimony oxide market is classified into plastics, rubber, glass and others on the basis of application. Among these, the plastics segment gathered highest market revenue. The segment is estimated to grow with a fastest CAGG through the forecast span 2022-2029.
Electrical And Electronics Segment Gained Maximum Market Momentum
The global antimony oxide market is classified into electrical and electronic, building and construction, packaging and others on the basis of end user. Among these, the electrical and electronics is predicted to be the largest segment owing to factors such as rising demand for flame retardants due to its beneficial physical properties.
APAC Poised for Rapid Market Growth
Among all the key geographic regions, APAC held the largest market share of global antimony trioxide market due to growing demand for flame retardants and catalyst applications as opposed to other alternative products in the market such as zinc borates, zinc hydroxystannates, and zinc stannates.
Building and construction businesses have increased their security measures, and flame retardant cables and insulations are extensively utilised to prevent the harm caused by any potential fire hazard. It's also found in flame-resistant rubber, which is used to make protective garments, mats, and curtains.
Because plastics and polymers are such a vital element of modern industry, increased demand for these materials, together with rapid industrialization, is expected to propel the antimony trioxide market forward. In today's building and construction business, glass and ceramics are becoming increasingly significant.
Owing to benefits such as high flame retardancy, improved char formation, environmentally realistic, improvement of working environment, improved output, low melting point, ease of handling, effective for various engineering plastics, the antimony trioxide is experiencing rapid adoption for various industrial applications thus fostering remarkable progress in global antimony trioxide market.
The factors such as growth in flame retardant market, boom in electronics industry in developed and developing nations, increasing demand for alimony, technological advancements, increased diversification of antimony leading to more applications is driving the global antimony market.
The global antimony trioxide market is estimated to reach close to 1231.5 million USD by 2029 with an annualized growth rate of 6.8% CAGR through the forecast span 2022-2029.
Antimony trioxide is found in minerals such as senarmontite and valentinite. Antimony trioxide is used in the preparation of plastics, paints, rubber, and other materials in the textile and electronics industry. Antimony trioxide can also be used as polymerization catalyst, a white pigment in paints, and in many other applications. Similar to other polymeric oxides, it dissolves in aqueous solutions after hydrolysis. Although it is non-combustible, it produces noxious and unpleasant vapours when it comes into contact with fire. The major producers of antimony trioxide are China, Russia, Kyrgyzstan, and South Africa, while the top customers are developed European and North American nations.
In its other domains of application, such as opacifier and complicated pigment manufacture, it confronts competition from alternative substitute products, which may stifle its growth. Also, some uncertainty on a possible cancer hazard arising from inhalation of particles is likely to limit the use of antimony trioxide hampering the demand thereby depriving the global antimony trioxide market.
The major market players of Antimony Trioxide Market are Hsikwangshan Twinkling Star, AMG Advanced Metallurgical Group, Chemico Chemicals, Gredmann, Yunnan Muli Antimony Industry , Hunan Gold Corporation, Voyager Group, Youngsun Chemicals, Corporation, Campine, and Nihon Seiko.
These companies specialising in different antimony trioxide products and materials are expanding their footprint through new product launches, real estate base, mergers and acquisitions, and other activities to stay ahead of the competition and meet the increased demand. By applying technology, the R&D teams of the companies are focusing on coming up with better products for usage in various industrial applications.
Major Developments in Global Antimony Market: A Snapshot
- United States Antimony Corporation made progress on the leach facility for the Los Juarez gold-silver-antimony deposit near Queretaro, Mexico, in May 2018. It's one of USAC's most significant and expensive projects.In Q4 2018, the facility will be tested and shaken down.
- Tri-Star Resources Plc and Strategic & Precious Metals Processing LLC (SPMP) signed a multi-year agreement with Traxys Europe SA in June 2017 to provide antimony and antimony gold concentrates to the company's Oman Antimony Roaster. As a result of the partnership, SPMP will gain access to Traxys' global expertise in obtaining minor metal concentrates and supply chain logistics management.
- LANXESS, a specialty chemicals firm, purchased Chemtura, a significant provider of flame retardant and lubricant additives based in the United States, in April 2017. The purchase will allow the company to enhance its manufacturing of flame retardant products while also making them more accessible to its customers.
Antimony Trioxide Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||1231.5 million USD|
|Growth Rate||CAGR of 6.8% during 2021-2028|
|Segment Covered||Application, End User , Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Hsikwangshan Twinkling Star, AMG Advanced Metallurgical Group, Chemico Chemicals, Gredmann, Yunnan Muli Antimony Industry, Hunan Gold Corporation, Campine, and Nihon Seiko.|
Key Segments of Global Antimony Trioxide Market
Application Overview, 2022-2029 (USD Million)
End User Overview, 2022-2029 (USD Million)
- Electrical and Electronics
- Building and Construction
Regional Overview, 2022-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa