The global antimony market size was USD 0.88 billion in 2020. The market is expected to grow from USD 0.94 billion in 2022 to USD 1.4 billion in 2029, exhibiting a CAGR of 6.5% during the forecast period. Significant demand for the element from chemical manufacturing and the rising industrial demand may foster the market’s growth. Fortune Business Insights™ presents this information in its report titled “Antimony Market, 2022-2029.”
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.