Demand for electric vehicles has surged tremendously over the recent past, owing to increasing environmental concerns and focus on reducing fuel consumption. Lead acid batteries form an integral part of electric vehicles, and antimony is widely used in these batteries. Demand for antimony is also being driven by its use in flame retardant products, and PET production. Over the past few years, there has been an increasing emphasis on development and evaluation of new antimony projects across developed economies. Manufacturers in Europe and North America are making huge investments in procuring and refurbishing old shut down antimony mines.
Antimony is utilized extensively with lead, particularly to increase lead’s strength level in application such as ammunitions. Antimony trioxide is commonly used for various commercial applications including production of glass, textile, rubber, and plastic. However, exposure to antimony results into serious health hazards including skin irritation, lung cancer and breathing disorders. A number of environmental hazards have also been associated with antimony, which in turn has led towards numerous regulations on its adoption.
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According to a recently delivered report by Transparency Market Research (TMR), the global market for antimony is projected to exhibit an impressive CAGR throughout the forecast period (2017-2022). Global sales of antimony is estimated to surpass US$ 2,000 Mn by 2022-end.
Flame Retardants and Lead Acid Batteries among End Uses to Retain their Dominance in Global Antimony Market
On the basis of end use, flame retardants and lead-acid batteries are anticipated to retain their dominance in the market over 2017 to 2022, in terms of revenues. However, sales of antimony for end use in lead acid batteries will register a comparatively higher CAGR than in flame retardants through 2022. Revenues from end use of antimony in flame retardants are projected to account for over half share of the market in 2017. Demand for antimony in flame retardants will discern a significant decline during the forecast period. Heat stabilizers & plastics, and pigments are expected to remain the least lucrative end uses of antimony, collectively estimated to account for nearly US$ 270 Mn revenues by 2022-end.
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APEJ to Dominate Global Antimony Market during 2017 to 2022
Asia-Pacific excluding Japan (APEJ) will dominate the global market for antimony in 2017, and will further retain its dominance in the market until 2022-end. Sales of antimony in APEJ will hold over half revenue share of the global market in 2017. Demand for antimony in this region will witness an upsurge throughout the forecast period. North America and Europe will also remain lucrative markets for antimony. Sales of antimony in North America will register a comparatively faster expansion than in Europe through 2022. Middle East and Africa (MEA) and Japan will remain relatively less lucrative regions for growth of the antimony market.
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TMR’s report has identified key participants actively contributing to expansion of the global antimony market, which include United States Antimony Corp., Atomized Products Group Inc., Nihon Seiko Co., Ltd., Tri-Star Resources plc, American Elements, Mandalay Resources Corp., AMG Advanced Metallurgical Group NV, Hsikwangshan Twinkling Star Antimony Industry Co. Ltd., Belmont Metals Inc., and Shenyang Huachang Antimony Chemical Co. Ltd.