NEWARK, Del, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The Global Antimony Trioxide Market Size is expected to attain a valuation of US$ 1.44 billion in 2023 and is projected to reach US$ 2.44 billion by 2033 while exhibiting a CAGR of 5.4% during the forecast period.
Many of the world's antimony reserves are dedicated to producing flame-retardant raw materials, particularly antimony trioxide. Powdered antimony trioxide is either chemically incorporated or physically blended into various products, including textiles.
Antimony (Sb) is used in flame retardant apparel although it is not a flame retardant by itself due to its ability to suppress and reduce the spread of flames when combined with halogens like bromine in polymers. Also, Sb2O3 finds widespread application in plastics, rubbers, paints, textiles, industrial safety garments, and children's clothing to impart fire resistance.
The demand for flame retardants is further propelled by stringent regulations mandated by the Occupational Safety and Health Administration (OSHA), particularly in industries like electric power generation, transformation, control, and transmission, where electrical arcs pose a common hazard for workers.
For example,
- OHSA regulation 1910.269, known as the 269 Standard, is relevant to employees in such industries, thus driving the demand for flame retardants and boosting the antimony market.
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The driving forces behind the market growth are increasing demand from the Asia Pacific and Latin America. These regions are experiencing a surge in building and construction activities, along with an increased demand for electrical and electronic products for personal and business use.
The significant economic development and industrialization in these developing nations have significantly expanded the consumer base, presenting remarkable growth opportunities for the antimony trioxide market in the Asia Pacific region. Moreover, the global demand for polyethylene plastic, especially for food packaging containers and polyethylene (PET) bottles, is steadily rising, consequently driving the demand for antimony trioxide for its production.
Increasing demand for electric vehicles and flame retardants in various end-user industries, such as plastics, drives the market. Additionally, macroeconomic factors like GDP growth and purchase power play a significant role.
Reusing antimony from spare lead-acid batteries is a prominent factor driving market growth. Further, rapid industrialization and growing demand for polyethylene packaging are other anticipated drivers for the market in the forecast period.
Key Takeaways in Antimony Trioxide Market Report:
- The market in Asia Pacific is predicted to expand at a CAGR of 5.7% during the forecast period.
- The demand for antimony trioxide in North America is anticipated to capture a CAGR of 5.5% during the forecast period.
- China is expected to dominate the market in Asia Pacific while exhibiting a CAGR of 5.9% during the forecast period.
“Rapid industrialization and growing demand for electric vehicles are expected to boost market growth during the forecast period,”- FMI Analyst
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Top 11 Key Players in Antimony Trioxide and Their Marketing Strategy
Key players are consistently employing diverse strategies, including new product launches, partnerships, collaborations, acquisitions, and the establishment of new facilities in lucrative markets to maintain a competitive advantage in the global antimony trioxide market.
The key market players involved are:
- Productos Esebe S.I.
- AMG Advanced Metallurgical Group
- YoungSun Chemicals Corp.
- Niknam Chemicals Private Limited
- Hunan Province Anhua Huayu Antimony Industry Co, Ltd.
- United Mineral & Chemical Corp.
- Huachang Antimony Industry
- Chemico Chemicals Pvt. Ltd.
- Samuh Laxmi Chemicals (Bom) P. Ltd.
- Spirochem Lifesciences Private Limited
- Nihon Seiko Co., Ltd.
Recent Developments in the Antimony Trioxide Market
- In January 2021, Campine demonstrated its commitment to recycling by expanding its recycling activities through an innovative process that directly recycles chemicals from post-consumer and industrial metal wastes.
- In July 2022, Shell & AMG Recycling B.V. and its partner, the United Company for Industry disclosed the signing of an agreement with the Saudi Arabian Oil Company ("Aramco").
- In August 2021, Tri-Star Resources, a prominent antimony and gold producer, revealed securing a US$ 10 million loan facility to facilitate the development of its antimony-gold plant in Oman.
- In September 2021, the United States Antimony Corporation disclosed a firm agreement to acquire a zeolite production facility in California. This strategic move is anticipated to broaden its product range and bolster its production capacity.
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Valuable Insights Available
Future Market Insights offers an unbiased global antimony trioxide market analysis, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the antimony trioxide market, the market is segmented based on grade, application, end-user, and region.
Key Segments Profiled in the Antimony Trioxide Market Industry Survey.
By Grade:
- Low Purity Grade (<99%)
- High Purity Grade (≥99%)
By Application:
- Flame retardant
- Catalyst
- Pacifying agent
By End Use:
- Plastics & Polymers
- Glass & Ceramics
- Textiles
- Paper industry
- Coatings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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