Antimony Market Size | Global Report [2033]

Antimony Market Overview

The Antimony Market size was valued at USD 1174.95 million in 2024 and is expected to reach USD 1985.12 million by 2033, growing at a CAGR of 6% from 2025 to 2033.

The antimony market is driven by its increasing usage across flame retardants, lead-acid batteries, and semiconductors. In 2023, over 110,000 metric tons of antimony were produced globally, with China accounting for more than 70,000 metric tons, contributing over 63.6% of total production.

The metal’s unique properties—such as high density (6.697 g/cm³), low thermal conductivity (24.4 W/m·K), and its ability to form stable alloys—make it essential in critical sectors. Antimony trioxide is the most commercially significant derivative, widely used in flame retardants for plastics, textiles, and electronics.

Recycling now provides about 20% of global supply, with over 22,000 metric tons recovered annually from lead-acid battery reprocessing. Technological innovations in semiconductors and growing military applications of antimony alloys are further stimulating global demand. Moreover, environmental regulations targeting halogenated flame retardants are indirectly boosting demand for antimony-based alternatives.

Key Findings

DRIVER: Increasing demand for flame retardant materials in electronics and construction sectors.

COUNTRY/REGION: China leads with over 70,000 metric tons of annual antimony production.

SEGMENT: Fire retardants dominate applications, consuming over 54,000 metric tons annually.

Antimony Market Trends

The global antimony market is undergoing significant transformation driven by supply chain realignments, material innovations, and regulatory dynamics. In 2023, the fire retardants segment utilized more than 49% of global antimony output, equivalent to over 54,000 metric tons. The rapid growth in consumer electronics—where flame retardants are vital—directly influences this trend. For example, Asia-Pacific produced over 60 million units of smartphones in Q1 2024 alone, all requiring flame-retardant components. Geopolitical tensions and resource nationalism are encouraging countries to diversify antimony supply chains. The U.S. Geological Survey classified antimony as a critical mineral, prompting exploration investments in regions like Australia and Canada. Australia alone reported a 12% increase in antimony exploration budgets in 2023, allocating AUD 37 million to advanced projects. Environmental awareness is also shaping market trends. The shift from halogenated to non-halogenated flame retardants is leading manufacturers to explore synergistic systems combining antimony trioxide with phosphorous-based compounds. Recycling rates have also increased—especially in the EU—where over 8,000 metric tons of secondary antimony were sourced from battery waste in 2023, compared to 6,500 metric tons in 2020. Furthermore, the emergence of gallium-antimony and indium-antimony compounds in photodetectors and infrared devices is redefining the metal’s high-tech appeal. Market participants are increasingly partnering with research institutions to accelerate innovation.

Antimony Market Dynamics

The dynamics of the antimony market are shaped by a complex interplay of supply limitations, growing end-use applications, environmental regulations, and technological advancements. The market is significantly influenced by geopolitical concentration, with over 63% of global supply originating from China, making the industry highly vulnerable to export policies, labor issues, and local environmental crackdowns. In 2023 alone, production disruptions in Hunan province caused global price volatility, with antimony prices rising by 14% within a single quarter.

DRIVER

Rising demand for flame retardants in consumer electronics and construction.

Antimony trioxide plays a pivotal role as a synergist in halogen-based flame retardant systems, widely used in electronics, textiles, and construction materials. In 2023, the global electronics industry utilized over 54,000 metric tons of antimony compounds, with Asia-Pacific accounting for 68% of that demand. The surge in residential and commercial building construction, especially in India (projected to reach 45 billion sq. ft. in new buildings by 2030), is directly boosting demand for flame-retardant insulation and plastics. Similarly, safety regulations such as the European REACH and U.S. CPSC guidelines on flame retardants further increase antimony consumption in compliant products.

RESTRAINT

Environmental and health concerns associated with antimony trioxide.

Antimony trioxide, while effective as a flame retardant synergist, has raised environmental and health concerns due to its classification as a possible human carcinogen by the International Agency for Research on Cancer (IARC Group 2B). Regulatory pressure is mounting in regions like the European Union, where discussions under the REACH framework have led to potential substitution assessments. In 2023, over 12% of European manufacturers began phasing out or reducing antimony trioxide in favor of organic and mineral-based alternatives. Additionally, antimony mining generates arsenic-laden waste, contributing to stricter environmental scrutiny and increased compliance costs.

OPPORTUNITY

Expansion of renewable energy and battery recycling programs.

Antimony is a key component in the production of lead-acid batteries, which power backup systems, solar inverters, and electric vehicles. In 2023, the lead-acid battery sector consumed over 39,000 metric tons of antimony. As governments push for higher renewable energy adoption, including India’s goal of 500 GW of non-fossil capacity by 2030, demand for energy storage systems is increasing. The U.S. and EU are also investing in battery recycling infrastructure, which recovered over 22,000 metric tons of antimony globally in 2023. This promotes sustainable growth and reduces reliance on primary mining operations.

CHALLENGE

Geopolitical instability and concentrated production sources.

With over 70,000 metric tons of annual antimony output coming from China—approximately 63% of global production—the market remains vulnerable to geopolitical risks, export restrictions, and supply chain disruptions. In early 2024, trade tensions and reduced output from China’s Hunan province caused a 14% spike in global antimony prices. Such fluctuations impact procurement strategies across industries reliant on stable supply. Furthermore, limited exploration outside of Central Asia, Russia, and Bolivia hampers efforts to diversify global production, posing a significant risk to long-term supply stability.

Antimony Market Segmentation

The antimony market is segmented based on product type and application. Key types include Sb99.90, Sb99.85, Sb99.65, and Sb99.50, while applications span fire retardants, lead batteries & alloys, chemicals, ceramics & glass, and others.

By Type

90: This is the highest purity grade of antimony, used extensively in the electronics and semiconductor industries. In 2023, over 18,000 metric tons of Sb99.90 were consumed globally, particularly in Asia-Pacific, where semiconductor output surged by 16%. The purity level of 99.90% allows for minimal contamination, essential for photodetector and diode manufacturing.
85: This grade is commonly used in alloy production, especially in the automotive and construction sectors. Approximately 25,000 metric tons of Sb99.85 were used globally in 2023, with significant consumption in Europe and North America. Sb99.85 is preferred due to its balance of purity and cost-efficiency.
65: Used in mid-grade applications such as flame retardants in plastics and textiles, Sb99.65 accounted for nearly 30,000 metric tons of global usage in 2023. It offers sufficient purity for industrial-grade materials while remaining economically viable for bulk consumers in developing countries.
50: Representing the lowest commercial purity, Sb99.50 is mainly applied in metallurgy and ceramic glazes. Over 12,000 metric tons were consumed in 2023, with notable demand from Middle Eastern and African countries focused on infrastructure development and ceramics export.

By Application

Fire Retardant: In 2023, fire retardants consumed over 54,000 metric tons of antimony globally, driven by stringent safety standards in construction and electronics. Asia-Pacific accounted for 60% of this segment’s demand, followed by North America at 22%.
Lead Batteries & Lead Alloys: Lead-based applications required more than 39,000 metric tons of antimony in 2023. The automotive and telecom industries are primary consumers, especially in the U.S. and India, where over 15 million lead-acid batteries were recycled last year.
Chemicals: Antimony is used as a catalyst in polyester production, accounting for approximately 7,000 metric tons in 2023. Major producers include China and South Korea, with chemical-grade antimony supporting plastic resin manufacturing.
Ceramics & Glass: This segment used nearly 5,000 metric tons in 2023. Antimony oxide enhances opacity and durability in enamels and glass products, with the highest consumption in European decorative ceramics.
Others: Miscellaneous uses—including solder, pigments, and ammunition—totaled 4,000 metric tons globally. The defense sector alone accounted for 900 metric tons, particularly in antimony-lead alloys for ballistic protection.

Regional Outlook for the Antimony Market

The regional outlook of the antimony market reveals a pronounced disparity in production and consumption patterns, dominated heavily by Asia-Pacific. In 2023, Asia-Pacific accounted for more than 68% of global antimony demand and over 63% of total production, with China alone producing over 70,000 metric tons. The region's dominance is driven by robust industrial activity, particularly in flame retardants, battery manufacturing, and the electronics sector. South Korea and Japan also contributed significantly, with a combined consumption of more than 6,000 metric tons, largely for semiconductors and precision devices.

North America

In 2023, North America consumed approximately 21,000 metric tons of antimony, largely in flame retardants and battery applications. The United States remains the largest importer, sourcing over 14,500 metric tons, primarily from China and Bolivia. Increased infrastructure investments and energy storage initiatives have fueled demand. In California alone, over 1.2 million backup lead-acid batteries were installed across commercial buildings in 2023, reflecting direct antimony consumption in battery alloys. Recycling initiatives also saw 6,800 metric tons recovered from automotive battery waste.

Europe

Europe consumed nearly 24,000 metric tons of antimony in 2023, with Germany, France, and Italy being leading markets. The region has tightened environmental controls, prompting the use of non-halogenated flame retardants combined with antimony trioxide. Germany imported 5,200 metric tons of antimony for industrial and military applications. Additionally, EU regulations under REACH have pushed manufacturers toward more transparent sourcing and recovery practices, boosting recycled supply by 18% from 2022.

Asia-Pacific

Asia-Pacific remains the epicenter of global antimony production and consumption, accounting for over 68% of global demand. China produced more than 70,000 metric tons in 2023, with over 45,000 metric tons used domestically in electronics and textile industries. South Korea and Japan are significant consumers, using over 6,000 metric tons in semiconductors and automotive batteries. India, with its rapid infrastructure growth, saw a 9% increase in antimony demand, using over 4,500 metric tons across fire retardants and glass manufacturing.

Middle East & Africa

This region recorded consumption of about 9,000 metric tons in 2023, primarily in construction and ceramic applications. Countries like Egypt and the UAE are major importers, while South Africa continues to develop modest mining operations. In Morocco, ceramic tile exports containing antimony-based glaze increased by 14% year-over-year, supporting local demand. The African battery recycling sector also recovered around 2,000 metric tons in 2023, especially from used telecom backup units.

List of Top Antimony Companies

Hunan Gold Group
Hsikwang Shan Twinking Star
Dongfeng
Hechi Nanfang Non-ferrous Metals Group
GeoProMining
China-Tin Group
Anhua Huayu Antimony Industry
Huachang Group
Mandalay Resources
Yongcheng Antimony Industry
Geodex Minerals
Stibium Resources
Muli Antimony Industry
Kazzinc
United States Antimony

Hunan Gold Group: Produced over 26,000 metric tons of antimony in 2023, primarily through mines in Hunan province. The company supplies antimony trioxide to over 15 countries and dominates the domestic flame retardant market in China.

Hsikwang Shan Twinking Star: Operating one of the largest single antimony mines globally, the company processed more than 18,000 metric tons of refined antimony in 2023. It exports over 65% of its output to electronics manufacturers in Japan, South Korea, and Germany.

Investment Analysis and Opportunities

The antimony market presents lucrative investment avenues in mining, recycling, and flame retardant technologies. In 2023, over USD 430 million equivalent was invested globally in antimony exploration, with Australia accounting for 22% of this figure. Exploration efforts expanded significantly in regions such as Queensland and Tasmania, where potential reserves exceed 35,000 metric tons. Battery recycling is another focal point for investment. The U.S. Environmental Protection Agency reported a 14% increase in the number of recycling facilities in 2023, leading to the recovery of over 22,000 metric tons of secondary antimony globally. This is bolstered by policies promoting circular economies and reducing landfill waste from lead-acid batteries. Moreover, R&D spending toward developing antimony-free or synergistic flame retardants has increased. Companies in Germany and the U.S. allocated over USD 60 million in 2023 toward alternative fire-retardant technologies that still utilize antimony trioxide in lower concentrations for efficiency. Geopolitical developments are also triggering stockpiling strategies. The U.S. Department of Defense procured over 900 metric tons of antimony for strategic reserves in 2023, increasing national stock levels by 18%. Such moves are attracting private equity into mining and defense supply ventures. Greenfield investments in Kazakhstan and Laos—estimated to yield over 15,000 metric tons per year by 2026—are being backed by sovereign funds and mining consortiums. These developments are expected to reduce dependence on Chinese supply and provide competitive sourcing options for manufacturers worldwide.

New Product Development

Innovations in the antimony market are centered around improving flame retardancy, enhancing battery life, and expanding applications in high-tech industries. In 2023, researchers in South Korea developed a new gallium-antimony-based semiconductor with enhanced performance in infrared sensors, boosting detection sensitivity by 22% compared to conventional materials. Meanwhile, German firms introduced low-toxicity antimony trioxide blends for textiles that reduce leaching by 35% while maintaining flame-retardant performance. These developments align with EU environmental directives and appeal to manufacturers seeking eco-labeled products. In the battery segment, U.S.-based energy companies began pilot production of antimony-lead-carbon hybrid batteries, achieving 15% longer discharge cycles than traditional lead-acid batteries. This innovation targets telecom and backup systems, where stability and longevity are critical. Additionally, Chinese producers released polymer-coated antimony particles designed for use in aerospace-grade composites. These materials improve structural integrity by up to 17% and are expected to gain traction in defense and satellite industries. Ceramics manufacturers in Spain have also developed new antimony-glass composites that offer 28% higher opacity and improved durability, enabling enhanced finishes for high-end architectural tiles. These are now being marketed across the EU and Middle East, particularly for luxury construction.

Five Recent Developments

January 2024: Hunan Gold Group expanded its refining capacity by 6,000 metric tons/year with a new smelting unit in Shaoyang, China.
February 2024: Mandalay Resources discovered an estimated 12,000 metric tons of high-grade antimony ore at its Costerfield site in Australia.
June 2023: GeoProMining launched a $75 million investment project in Armenia to modernize its antimony extraction and purification systems.
August 2023: Stibium Resources signed a 3-year supply contract with a European electronics giant, covering over 9,000 metric tons of antimony trioxide.
October 2023: Kazzinc began commercial operations at its new antimony-lead processing plant in Kazakhstan with an annual capacity of 8,500 metric tons.

Report Coverage of Antimony Market

This report offers comprehensive coverage of the global antimony market, spanning upstream mining operations to downstream applications in fire retardants, batteries, and specialty alloys. The analysis includes data from over 35 producing and consuming nations and examines over 15 major antimony manufacturers. It explores multiple product segments, including four commercial purities of refined antimony—Sb99.90, Sb99.85, Sb99.65, and Sb99.50—alongside applications ranging from flame retardants and lead-acid batteries to glass, ceramics, and chemicals. The report assesses over 110,000 metric tons of annual global production, offering segment-wise and region-wise insights based on 2023 data. The report also highlights regional dynamics in Asia-Pacific, North America, Europe, and the Middle East & Africa, supported by recent developments, trade flows, and regulatory updates. Market drivers, restraints, opportunities, and challenges are analyzed with numerical backing, enabling strategic assessment for stakeholders. Further, the document evaluates the impact of geopolitical risks, recycling technologies, and new product innovation across the value chain. Investment prospects, including exploration, refining, and advanced materials R&D, are quantified with current market activities. The report captures more than 30 strategic developments by leading players and provides trend forecasts up to 2026 across major regions and applications.