Antimony Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Antimony Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LONDON, GREATER LONDON, UK, November 17, 2023 /EINPresswire.com/ — The global antimony market is projected to witness substantial expansion, rising from $4.17 billion in 2022 to $4.54 billion in 2023, demonstrating a robust compound annual growth rate (CAGR) of 8.9%. Despite setbacks from the ongoing Russia-Ukraine war impacting global economic recovery post the COVID-19 pandemic, the market is expected to surge to $6.31 billion by 2027, fueled by the increasing incidents of fire accidents and the enforcement of stringent fire safety regulations worldwide.
Increasing Fire Accidents Drive Market Growth
The mounting occurrences of fire accidents and the enforcement of stringent fire safety regulations represent pivotal factors driving the growth of the antimony market. Antimony, known for its application as a flame inhibitor in fire-resistant apparel, flame retardants, and various fire protection systems, has witnessed heightened demand in line with the emphasis on fire prevention measures. The National Fire Protection Association’s data for the United States in 2020 reported 1,388,500 fires, resulting in 3,500 civilian deaths and 15,200 injuries, with a 23% increase in fire-related deaths compared to 2012. This data underscores the critical role of antimony in addressing the imperative need for fire safety and prevention measures.
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Key Players and Market Trends
Prominent players in the antimony market include BASF SE, Campine NV, Huachang Antimony Industry, and AMG Advanced Metallurgical Group, among others, contributing significantly to the competitive landscape. Strategic collaborations and joint ventures between companies represent a key trend gaining traction, exemplified by the collaboration agreement between United States Antimony and Perpetua in May 2021. This collaborative effort underscores the industry’s commitment to fostering technological advancements and the development of innovative antimony products, positioning the United States Antimony as a leading producer of refined antimony products within the region.
• By Type: Antimony Trioxide, Antimony Pentoxide, Alloys, Metal Ingots, Other Types
• By Application: Flame retardant, Plastic additives, Lead acid batteries, Glass & ceramics, Other Applications
• By End User Industry: Chemical, Automotive, Electrical & electronics, Other End-Users
Geographical Insights: Asia-Pacific Leads, Anticipated Growth in the Region
Asia-Pacific emerged as the largest region in the antimony market in 2022, with expectations for the region to maintain its position as the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and potential growth opportunities.
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Antimony Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Antimony Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on antimony market size, antimony market drivers and trends, antimony market major players, competitors’ revenues, antimony market positioning, and market growth across geographies. The antimony market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Antimony Market Poised for Growth, Expected to Reach $6.31 Billion by 2027