Vietnam Antimony Ore Market (2024-2030) | Outlook, Growth, Industry, Trends, Analysis, Revenue, Value, Share, Companies, Forecast & Size

Vietnam Antimony Ore Market Synopsis

Vietnam Antimony Ore market grew steadily in the period of 2020-23 on the back of the Vietnamese government's adoption of the Renewable Energy Development Strategy (2016-2030), aiming to increase the share of renewable energy and reduce dependency on fossil fuels. Concurrently, Vietnam's plastics industry has expanded at a remarkable 10-12% annually, surpassing $25 billion in 2023. According to the Vietnam Plastics Association (VPA), exports of plastic products totalled $5.2 billion in 2023 and are projected to rise by approximately 4% in 2024, reaching $5.5 billion. These developments are attracting increased international investment, promising further growth in Vietnam's plastics industry as well as antimony ore in the years ahead.

According to 6Wresearch, Vietnam Antimony Ore market revenue size is projected to grow at a CAGR of 5.3% during 2024-2030F. The anticipated growth in Vietnam's construction sector, with a projected compound annual growth rate (CAGR) of 13% from 2023 to 2027, is set to drive construction output to VND903 trillion ($38.1 billion) by 2027. This robust expansion aligns strategically with Vietnam's government plan to position the country as a regional semiconductor hub by 2030 which aims to capture 10% of the global semiconductor market share, targeting semiconductor exports valued at $15 billion. As Vietnam intensifies its semiconductor industry focus on design, packaging, and testing activities, the demand for antimony ore is expected to rise correspondingly.

Moreover, Vietnam's ceramic manufacturing industry plays a crucial role in its economy, contributing over US$3 billion annually to GDP. The ceramic tiles market, a significant segment within this industry, is forecasted to grow substantially, increasing from US$5.16 billion in 2023 to US$9.78 billion by 2028. This growth underscores Vietnam's growing prominence in the global ceramics market, presenting ongoing opportunities for investment and expansion in the sector.

Market Segmentation by Types

In 2023, Stibnite attained the highest revenue share in the Vietnam Antimony Ore Industry as it is the most common antimony ore and the primary source of antimony production. It is widely used for extracting antimony metal and antimony compounds, which are crucial for various industrial applications, including flame retardants, batteries, and chemicals.

Market Segmentation by Application

In 2023, plastic was the major application where antimony ore is highly used due to flame retardant properties of plastics, which meet stringent safety regulations across sectors such as electronics, automotive, and construction. Moreover, advancements in polymer technology and stricter regulatory requirements would also drive the rising significance of antimony in plastics in future

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Vietnam Antimony Ore Market Overview
• Vietnam Antimony Ore Market Outlook
• Vietnam Antimony Ore Market Forecast
• Historical Data and Forecast of Vietnam Antimony Ore Market Revenues, for the Period 2020-2030F
• Historical Data and Forecast of Vietnam Antimony Ore Market Revenues, By Types, for the Period 2020-2030F
• Historical Data and Forecast of Vietnam Antimony Ore Market Revenues, By Application, for the Period 2020-2030F
• Market Drivers, Restraints
• Market Opportunity Assessment
• Vietnam Antimony Ore Market Revenue Ranking, By Companies
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Stibnite
• Senarmontite
• Metal Ingot
• Others (Powder Form, Ores and Concentrates, and Scraps)

By Application

• Plastics
• Battery Material
• Chemicals
• Ceramics and Glass
• Others (Electrical and Electronic, Rubber Manufacturing, Alloy Strengthening Agents, etc.)