Antimony (Sb) is a silver-grey chemical element with a glossy and silky surface. It is an extremely rare element in the earth’s crust. It is used to harden lead alloys in pyrotechnics, semiconductor technology, sheet and pipe, collapsible tubes and foil, solder, bearing metal, type metal, storage cables and batteries, and solder. The rising demand for the chemical from the chemical manufacturing sector may foster the industry’s growth. Furthermore, the rising industrial demand for high-quality chemicals may foster its sales. These factors may propel industry growth during the upcoming years.
Strict Government Regulations and Labor Unavailability to Fuel Industry Growth
This industry is expected to be affected negatively during the COVID-19 pandemic because of strict government regulations and labor unavailability. The sudden spike in COVID cases leads to the imposition of strict government regulations. Furthermore, labor unavailability is expected to hinder manufacturing activities. However, the recommencement of activities and the adoption of reduced labor, part-time shifts, automated production machinery may enable companies to recover costs. These factors may propel the industry development during the pandemic.
Strong Adoption of Flame Retardants May Foster Industry Growth
The chemical is physically blended and inserted into several products and textiles. It is used in paints, rubbers, textiles, children’s clothing, and industrial safety is expected to boost the industry progress. Further, strict government regulations by the Occupational Safety and Health Administration OSHA for adopting flame retardant clothing are expected to boost the industry development. Moreover, increasing investments in the development of effective chemicals may foster industry progress. These factors may incite antimony industry growth.
However, the availability of substitutes may hinder the industry growth.
Presence of a Huge Production Base to Foster industry Growth in Asia Pacific
Asia Pacific is expected to dominate the antimony industry share because of the presence of a huge production base. The industry in Asia Pacific stood at USD 0.6 billion in 2021 and is expected to gain a huge industry share in the upcoming years. Furthermore, the presence of a huge reserve in China may facilitate the adoption of the element. These factors may propel industry development.
In Europe, substantial production of antimony oxide may boost the adoption of the chemical. Furthermore, robust demand for lead-acid batteries may fuel the adoption of the chemical. These factors may propel industry progress.
In North America, the rising demand for flame retardants is expected to boost the adoption of flame retardants. Further, strong demand from the electronics sector may foster the industry ’s progress.