Antimony Global Market Report 2024

The antimony market size has grown strongly in recent years. It will grow from $4.43 billion in 2023 to $4.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. Historical growth can be attributed to factors such as industrial demand, applications in flame retardants, regulatory influences, the growth of the electronics sector, and mining and supply dynamics.

The antimony market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. Forecasted growth is fueled by advanced electronics, the EV revolution, stringent regulations, global economic conditions, exploration and mining developments. Key trends include green and battery technologies, Asia-Pacific market expansion, a shift towards sustainable antimony production, supply chain challenges, and price volatility.

The anticipated growth of the antimony market is attributed to the escalating number of fire accidents and the implementation of rigorous fire safety regulations. According to these regulations, prioritizing prevention is crucial to averting fire-related incidents. The surge in fire accidents has led to an increased demand for fire safety measures, consequently driving up antimony production. Antimony is commonly utilized as a flame inhibitor in fire-resistant apparel, flame retardants, and various fire protection systems. For example, in November 2023, reports from the National Fire Protection Association (NFPA), a non-profit organization based in the United States, revealed that in 2022, local fire departments in the U.S. responded to 1.5 million fire accidents. These incidents resulted in the loss of 3,790 lives, with 13,250 individuals sustaining injuries. The property damage from these fires is estimated to be $18 billion. Moreover, between 2021 and 2022, apartment fire-related deaths increased by 14%, injuries by 7%, and property losses by 6%. Consequently, the surge in fire incidents and the enforcement of stringent fire safety regulations are key drivers for the antimony market.

The burgeoning demand for electric vehicles is anticipated to be a driving force behind the growth of the antimony market in the foreseeable future. Antimony plays a pivotal role in the production of lead-acid batteries, a common component in electric vehicles. Additionally, it indirectly contributes to the manufacturing and operation of certain vehicle components. For instance, the International Energy Agency (IEA) reported in its May 2022 Global Electric Vehicle Outlook that electric vehicle sales surged, doubling in 2021 compared to 2020, reaching an impressive total of approximately 6.6 million units. Notably, the upward trend continued into the first quarter of 2022, with an additional 2 million electric cars sold worldwide. This surge in demand for electric vehicles is a significant driver propelling the growth trajectory of the antimony market.

Strategic collaborations and joint ventures have emerged as prominent trends within the antimony market, facilitating the development of new technologies and products. Companies involved in antimony production are actively pursuing partnerships and collaborations to drive innovation. For instance, in May 2021, United States Antimony, a key antimony producer and distributor, forged a collaboration agreement with Perpetua, a US-based mining company. This strategic partnership aims to offer the exclusive supply of domestically mined and refined antimony products within the United States. The proximity of the mine to US Antimony's processing facilities benefits both entities, fostering operational synergy and enhancing supply chain efficiency.

Major players within the antimony market are actively pursuing investments and funding initiatives to fortify their positions within the industry. These investments involve the allocation of financial resources, typically in the form of capital, to bolster specific projects, businesses, or strategic endeavors. For instance, in August 2023, Perpetua Resources Corp., a prominent US-based mining company, secured an Ordnance Technology Initiative Agreement (OTIA) potentially valued at up to $15.5 million. This agreement, obtained through the Department of Defense (DoD) under the Prototype Other Transaction (OT) authority, was facilitated via the DoD Ordnance Technology Consortium (DOTC).

In 2021, Far East Antimony Ltd successfully acquired the Solonechenskoye antimony property situated in the Zabaikalsky Krai region of Far Eastern Russia. This strategic acquisition positions Far East Antimony to undertake the development of the Solonechenskoye deposit, recognized as one of the largest untapped antimony deposits globally.

Major companies operating in the antimony market report are Village Main Reef Ltd., Badische Anilin- und Sodafabrik, China Minmetals Corporation, United States Antimony, GeoProMining Ltd., C. Steinweg Group, Tri-Star Resources PLC, China Antimony Trioxide Corporation, Consolidated Murchison Mine, AMG Advanced Metallurgical Group, Recylex S.A., Campine NV, Beaver Brook Antimony Mine Inc., Mandalay Resources Ltd., Hsikwangshan Twinkling Star Co. Ltd., Dongguan Jiefu Flame-Retarded Materials Co. Ltd., Nihon Seiko Co. Ltd., NYACOL Nano Technologies Inc., Belmont Metals, Huachang Antimony Industry, Hunan Chenzhou Mining Group Co. Ltd., Lambert Metals International, Suzuhiro Chemical, Yunnan Muli Antimony Industry Co. Ltd., China Antimony Chemicals Co. Ltd., Sarylakh-Surma and Zvezda, Antimony Metal Processing South Africa (Pty) Ltd., Antimony Recovery from End-of-Life Products, Guangxi Youngsun Chemicals Co. Ltd., Xikuangshan Antimony Company Limited.

Asia-Pacific was the largest region in the antimony market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the antimony market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the antimony market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The report encompasses several key types of antimony, including antimony trioxide, antimony pentoxide, alloys, metal ingots, and other variations. Antimony finds diverse applications across multiple sectors, notably in flame retardants, plastic additives, lead-acid batteries, and the production of glass and ceramics, among other uses. Additionally, the end-user industries for antimony span across the chemical, automotive, electrical and electronics sectors, and various other industries.

The antimony market research report is one of a series of new reports that provides antimony market statistics, including antimony industry global market size, regional shares, competitors with antimony share, detailed antimony market segments, market trends and opportunities, and any further data you may need to thrive in the antimony industry. This antimony market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The antimony market consists of sales of sodium stibogluconate, antimony trichloride, antimony oxychloride, metal alloys, and ceramics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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