Antimony Mining Is Fueling The Growth Of The Argentite Market

https://www.coherentmarketinsights.com/market-insight/argentite-market-6112
Argentite Market 



Market Overview:

Argentite is a primary ore of silver. It occurs as coatings and grains on rock surfaces and within geodes or cavities. Argentite is used as a minor source of silver production and has industrial applications as a raw material for the production of silver.

Market Key Trends:

One of the primary drivers for the argentite mining market is the growing demand for antimony. Argentite is an important secondary source of antimony mining. Antimony is used as a flame retardant in plastics, rubber, and paints. It also has applications in healthcare such as antimony potassium tartrate which is used in antimony-based medicines. The growth of end use industries is expected to significantly drive the demand for antimony and subsequent mining of argentite during the forecast period.

The global Argentite Market Size is estimated to be valued at US$ 6.93 Bn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The global argentite market is segmented based on the form of argentite as natural argentite and synthetic argentite. Natural argentite dominates the overall market with a share of over 85% in 2023. Natural argentite is preferred over synthetic argentite owing to higher purity levels and less production costs.

Key Takeaways
The global argentite market is expected to witness high growth, exhibiting CAGR of 9.5% over the forecast period, due to increasing demand from various end-use industries including jewelry, coinage, photography, and medical industry.

Regional analysis
The North American region dominates the global argentite market with over 35% share in 2023. This is attributed to the presence of established mining industry and availability of argentite reserves in countries like US and Canada. The Asia Pacific region is expected to be the fastest growing market during the forecast period due to expansion of mining and manufacturing industries in major economies like China and India.

Key players analysis
Key players operating in the argentite market are Fresnillo PLC, Pan American Silver Corp., Coeur Mining, Inc., Hochschild Mining PLC, Hecla Mining Company, Silvercorp Metals Inc., First Majestic Silver Corp., Endeavour Silver Corp., Fortuna Silver Mines Inc., SSR Mining Inc., Wheaton Precious Metals Corp., MAG Silver Corp., Americas Gold and Silver Corporation, Great Panther Mining Limited, and Avino Silver & Gold Mines Ltd. These players account for over 65% of the global market share in 2023.

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