Market Trends of Antimony Industry
Flame Retardants Segment to Dominate the Market
- Antimony is a brittle, silvery-white semimetal that conducts heat poorly. It is found in nature mainly as the sulfide mineral stibnite. Some antimony compounds that are used as flame retardants are antimony trioxide, antimony pentoxide, and antimony-metal compounds.
- Antimony trioxide is widely used in flame retardants. It reacts with halogenated compounds and creates the chemical compounds which generate the flame-retardant function.
- Antimony compounds, particularly antimony trioxide, are commonly used as flame retardants in various materials. Although antimony trioxide itself has no flame-retardant function, when used with halogenated compounds, the synergistic effect of the mixture creates flame-retardant properties.
- It is an important industrial metal used to impart flame-retardant properties to coatings, textiles, and polymer resins.
- According to the annual trade data, the United States is the seventh largest exporter of synthetic textiles. In 2022, the United States exported chemical filament fibers worth USD 1.63 billion, the majority of which require antimony as a catalyst and flame retardant synergist during the production stage.
- In addition, the output value of China's textile and garment industry reached a new export peak in 2022, with a trade surplus of over USD 300 billion. According to data from the General Administration of Customs of China, the total value of China's textile and apparel exports in 2022 increased by 2.5% year-on-year. With exports exceeding USD 300 billion for the third consecutive year in 2022, China remains the world's largest exporter of textiles and apparel.
- Further, according to the data published by the Japan Chemical Fibers Association, The production volume of polyester filament fibers in the chemical fibers industry in Japan decreased to 96.32 thousand tons in 2022 compared to 99.68 thousand tons in 2021.
- Hence, owing to the factors mentioned above, the flame retardants application segment is anticipated to drive the market for antimony during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market for antimony with the increasing demand for applications in flame retardants, batteries, ceramics and glass, and catalysts.
- As a flame retardant, antimony finds applications in plastics designed for electronic equipment, textiles for tents and protective clothing, paints and pigments, and synthetic fibers, among others.
- According to the National Bureau of Statistics of China, China’s textile production volume accounted for 38.2 billion meters in 2022, compared to 23.5 billion meters during the same period in the previous year.
- According to European Coatings, there are nearly 10,000 coatings manufacturers located in China. Most of the leading global coating manufacturers have their manufacturing bases in China. Paints and coatings companies have been increasingly growing investments in the country to expand specialized coating production capacity.
- Indian paints and coatings producers added significant production capacities. Currently, there are a number of ongoing expansions in the paint and coatings sector by major producers in the country. This is also expected to increase the demand for Antimony in the country.
- Recently, various companies have announced their capacity expansions, likely to boost the market demand for antimony for paints and coatings formulation in the country. In May 2022, Grasim Industries (Aditya Birla Group) plans to invest INR 10,000 crore in its paint business by FY2025. In January 2021, the company announced its plans to enter the paints business with INR 5,000 crore in the next three years. The company is likely to commission a paint plant with a production capacity of 1,332 million liters per annum (MLPA) by Q4 FY2024.
- Engineering Plastics that are treated with antimony to improve their flame resistance properties are preferred in both interior and exterior components, especially the electronic components of automotive. It's also well-suited to heavy-duty applications so that it can be used for automotive body parts, too.
- China is the largest automobile market globally and plays a pivotal role in the Asian automotive sector. In 2022, vehicle production in China reached a notable total of 27.02 million units, marking a 3% increase compared to the previous year (26.09 million units). The substantial production volume in China signifies a robust demand for flame-retardant automotive materials, thus supporting the thriving antimony industry.
- According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), Japan registered a flat growth in 2022 annually in terms of motor vehicle production, with 2021 production accounting for 7,836,908 units and 2022 production accounting for 7,835,519 units. Antimony-based materials such as ABS are used to produce certain automotive components, and the demand from the automotive sector can affect the Antimony market.
- Overall, the growth of industries such as automotive, paints and coatings, textiles, and electrical and electronics is likely to drive the market for antimony in the region during the forecast period.
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