Wilmington, Delaware, United States, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for sodium antimonate was estimated to be worth US$ 23.9 billion in 2022. The market is anticipated to advance with a 4.3% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 34.8 billion.
Sodium antimonate is increasingly being used as a catalyst in chemical processes because of its Lewis acidic characteristics and capacity to activate certain substrates. When combined with a halogen, often chlorine, sodium antimonate can be used as a fire retardant with extremely minimal tinting qualities. In the glass production industry, sodium antimonate powder is used as a degreaser or fining agent, particularly in color television bulbs as well as optical glass. It is used in the production of paints, fiberglass resins, plastics, and numerous textile products.
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Global Sodium Antimonate Market: Key Players
Numerous producers of sodium antimonate make up the extremely fragmented global market. The majority of sodium antimonate manufacturers are spending a lot of money on research and development efforts in order to diversify their product offerings.
Some of the key manufacturers profiled in this report are:
- United States Antimony Corporation
- Nihon Seiko Co., Ltd.
- Umicore
- Shiny Materials Science & Technology Inc.
- Chemico Chemicals Pvt. Ltd.
- Ataman Kimya
- Actylis
- Todini Metals and Chemicals India Pvt Ltd.
- Hunan Zhongnan Antimony & Tungsten Trading Co., Ltd.
- Yunnan Muli Antimony Industry Co., Ltd.
- St. Louis Group
- Blue Line Corp.
- Dalian Sinobio Chemistry Co., Ltd.
Developments by the key players in the global market for sodium antimonate are:
| Market Player | Year | Products Portfolio and Key Developments |
| Umicore | 2023 |
|
| Perpetua Resources Corporation | 2021 |
|
The characteristics, structure, and functioning of sodium antimonate nanoparticles are revealed through their synthesis and characterization. Market growth for this substance is anticipated to be constrained in the near future due to the possible occupational health risks related to sodium antimonate. In both aquatic and terrestrial species, antimony can accumulate. It can bioaccumulate within fish along with various aquatic species in aquatic systems, which can cause biomagnification as it goes up the food chain.
Key Findings of Market Report
- Vendors might benefit financially from the use of sodium antimonate in the creation of flame-resistant polymers.
- To enhance their market share for sodium antimonate, suppliers are spending money on research and development for better formulations that adhere to safety standards.
- During the projection period, the optical grade segment is expected to dominate the market.
- Asia Pacific is expected to increase its market share from 37.2% in 2022 to 38.6% by 2031.
Market Trends for Sodium Antimonate
- The sodium antimonate industry is expanding as a result of ongoing electrical developments, such as the creation of smaller, more potent, and energy-efficient devices. Improvements in integrated circuits, displays, sensors, and semiconductor technologies are included in this.
- Circuit boards, connections, casings, and cables are just a few of the electronic components that sodium antimonate is employed in. It is a useful substance for boosting the safety of different electrical parts due to its adaptability.
- Many parts of the telecommunications infrastructure, such as cables, connections, and casings, employ sodium antimonate as a flame retardant. The demand for sodium antimonate in the telecommunications industry is being fueled by significant investments being made by major nations across the world in network improvements and expansions.
- The creation of high-quality optical glass, including lenses and prisms, uses sodium antimonate of the optical grade, which is widely used in the glass making industry. It serves as a fining agent to get rid of contaminants and tiny bubbles in the glass. To get rid of dissolved gases from the glass melt, sodium antimonate can also be used as a degasser.
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Sodium Antimonate Regional Market Outlook
Various reasons are propelling the growth of the sodium antimonate market in different regions. These are:
- From 2023 to 2031, Asia Pacific is expected to have the majority of the share. The dynamics of the local market are being boosted by the expansion of the glass production industry and rising urbanization.
- This area may be a big user of sodium antimonate due to the existence of rising economies with expanding industrial sectors.
Global Sodium Antimonate Market Segmentation
- Grade
- Technical
- Optical
- Others
- Purity
- Low Purity (Up to 99%)
- High Purity (> 99%)
- Application
- Optical Glass
- Fire Retardants
- Chemical Manufacturing (Including Antimony Trioxide)
- Acid-resistant Paints
- Others
- End-use
- Glass
- Ceramics
- Building & Construction
- Plastics & Polymers
- Textiles
- Telecommunications
- Chemicals
- Metals
- Paints & Coatings
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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