Antimony Market - Forecast(2024 - 2030)

The Antimony Market size is projected to reach $5.3 billion by 2030, after growing at a CAGR of 7.4% over the forecast period of 2024-2030. Antimony can be categorized into various types such as antimony trioxide, antimony pentoxide, alloys and more. It is primarily used in multiple end-use industries such as automotive, electronics & semiconductor, construction and other industries. Antimony is known for its high stability and recyclable property, which makes this chemical a distinctly favored entity across several market domains. The growing demand for antimony in flame retardant and plastic additives applications is driving the market growth during the forecast period. The growing usage of antimony among electronic products is also one of the major factors driving the market growth during the forecast period. The COVID-19 outbreak led to major economic problems and challenges for the antimony industry globally. Governments all across the globe announced strict measures to slow the spread of the coronavirus and only the production of essential commodities was allowed, which impacted the non-essential commodity industries, thereby, impacting the production of the antimony industry.

The antimony market experienced supply chain disruptions as lockdowns and movement restrictions hindered production processes. Exploration activities for new antimony deposits slowed down amid uncertainties caused by the pandemic. Reduced demand for antimony-containing products, such as flame retardants and alloys, emerged as a consequence of the overall economic downturn. Price volatility became a notable feature in the antimony market due to the unpredictability in both supply and demand. Despite challenges, the industry witnessed a heightened emphasis on sustainability and responsible mining practices, aligning with global trends. Some companies strategically engaged in acquisitions during this period, positioning themselves for future growth when market conditions stabilize. Governments in certain regions provided support to the antimony industry, recognizing its strategic importance in applications like electronics and batteries. Additionally, the pandemic accelerated the adoption of technology in the antimony mining sector, fostering efficiency and resilience against operational disruptions.

The “Antimony Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Antimony Industry.

By Type: Metal Ingot, Antimony Trioxide, Antimony Pentoxide, Alloys and Others.

By Application: Flame retardant, Plastic additives, Lead-acid batteries, Glass & ceramics, Alloy Strengthening Agents, Fiberglass Composites, Catalysts, Stabilizers and Others.

By End-use Industry: Automotive, Electronics & Semiconductor, Chemical, Building and Construction, Aerospace and Defense, Medical and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Netherlands, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America) and Rest of the world (Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa).

● The Asia-Pacific region dominated the Antimony Market in 2023. The key driver accelerating the market's growth is rapid development in the automotive and construction industry.

● The rising demand for flame retardant products and increasing demand from PET manufacturers are expanding the Antimony Market size during the forecast period.

● The recycling property of antimony products among various end-users is also supporting the market growth during the forecast period.

● A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Antimony Market Report.

 

The alloys segment held a significant Antimony Market share in 2023 and is anticipated to grow at a significant CAGR over the forecast period of 2024-2030. Antimony is generally alloyed with other metals to modify their characteristics and mechanical properties. This element is often alloyed to lead and other metals to increase their strength and durability. Antimony can make brittle and soft metal alloys harder so they can be worked in a number of different processes. Antimony increases the hardness of alloys and they are primarily used in batteries and machine bearings among others. The increasing production of electric vehicles will drive the demand for the alloy segment during the forecast period. According to the Federal Motor Transport Authority, the share of newly registered battery-powered electric vehicles (BEVs) in Germany has jumped by nearly 37.8 percent in the first ten months of 2023, compared to the same period last year. More than 424,623 new passenger BEVs were registered from January until October this year, a share of 18 percent all new registrations.

The flame-retardant segment held a significant Antimony Market share in 2023. Flame retardants are used for reducing the hazardous effect of fire mishaps. Flame retardants are added to combustible materials to prevent fires from starting or to slow the spread of fire. Antimony trioxide often works in synergy with halogenated flame retardants. These flame retardants are used in various applications such as flame retarding furniture, mattresses, fabrics, plastics, circuit boards, semiconductors and wiring among others. According to the US Geological Survey (USGS), China maintained its position as the top global antimony producer in 2022, contributing 60,000 metric tons and representing 55% of the worldwide mine production. According to Plastic Europe, in 2022, global plastic production stood at 400.3 mt showing a 1.6% increase in comparison with 394 mt produced in the previous year. Hence the growth in polymer production is driving the market growth for flame retardants during the forecast period.

The Asia-Pacific region held a dominant Antimony Market share in the year 2023. The presence of developing nations such as India and China is driving market growth in the region. The presence of end-use industries along with rapid industrialization is also supporting the market for antimony. According to the Chemicals and Petrochemicals Manufacturers' Association (CPMA), the production of polymers in India had already reached 5.7 million tons for the period of 2022-23 up to September 2022. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automobile production in China reached 27020615 units in 2022, an increase from 2,60,82,220 units, the previous year. Hence, the growth in the end-use industries is driving the market for antimony during the forecast period.

Antimony is generally used in the automotive industry for different applications such as electronic displays, semiconductors and fuel cells among others. For instance, U.S. light vehicle sales in December 2022 totaled 1,287,280 units, reflecting a 5.4% increase compared to December of the preceding year. Toyota company has registered around 2,108,457 units of light vehicle sales in the US during 2022. According to IBEF facts, In the first quarter of 2023-24, total production of passenger vehicles, commercial vehicles, three wheelers, two wheelers, and quadricycles was 6.01 million units. The rapid growth in automotive production is supporting the antimony market size. Photon upconversion in lanthanide metals has recently shown compelling advantages in a wide range of fields due to their exceptional anti-stokes luminescence performances and physicochemical properties. These properties of antimony are also boosting market growth.

Growing demand for antimony from display panels is driving the market for consumer goods and electronics. Antimony is primarily used in various display products such as LEDs and LCDs among others. The growing consumer electronic industry is driving the demand for display panels, which is further driving the antimony market globally. The rapid growth in the Internet of things in developing and developed countries are also driving the demand for display panels. The growth in smartphone and phablet adoption in developing countries is supporting the display panel industry which is further driving the antimony market. The product is also used in consumer electronics such as cameras, cell phones, tablets and automotive displays among others. Hence, the growth in the consumer electronics sector is driving the market. Based on the article on mobile phones, more than 4.14 million mobile phones are sold every day in the world, of which almost 800,000 are Samsung. Hence the growth in electronics production is driving the market for antimony during the forecast period.

The highly toxic nature of erbium is expected to hamper the market growth. Antimony, when injected, inhaled or taken orally can have harmful effects on human health. The symptoms of antimony toxicity could be ataxia, writhing, arched back, labored respiration and sedation. Antimony is graded as an irritant by Environmental Protection Agency (EPA) and can cause serious skin and eye irritation. Furthermore, high raw material cost is anticipated to hamper the antimony market. Supply of the erbium is highly dependent on mining activities in regions where reserves are abundant. Any political or economic disruptions in these regions can cause supply issues and hence affect market growth. These are some of the major challenges hampering the market growth for antimony.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Antimony Market. The top 10 companies in the Antimony Market include:

1. Alfa Chemistry

2. Ereztech LLC

3. Goodfellow

4. Youngsun Essen Corp

5. Lambert Metals International

6. Hunan Chenzhou Mining Group Co. Ltd.

7. Otto Chemie Pvt Ltd

8. Korea Zinc Co. Ltd.

9. Nihon Seiko

10. Suzuhiro Chemical

● In January 2024, CMR significantly expanded its mining portfolio by acquiring 26 exploration permits in central Morocco through Hesperis Resources. This transformative move, including permits prospective for critical metals like antimony, positions CMR for success in the clean energy sector.

● In December 2023, Larvotto Resources' acquisition of the Hillgrove gold-antimony project marked a key development in the antimony market, establishing Larvotto as a significant player with Australia's largest antimony deposit. 

● In July 2022, Slovak Antimony Corp completed its acquisition of an Antimony/Tin processing circuit in Eastern Slovakia. The main aim of this acquisition was to expand the company’s production capacity.