Antimony Market Size

Global Antimony Market size was valued at USD 2.7 billion in 2023 and is poised to grow from USD 2.89 billion in 2024 to USD 4.92 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032). 

The number one mover behind the global antimony market is China's export restrictions that have hugely been upsetting world supply chains. In August 2024, China, which accounted for about half of global antimony output, declared export control over some products of antimony, such as the requirement to obtain permission through a license in order to export dual-use materials and a ban on the transfer of gold-antimony smelting and separation technology overseas without authorization. China justified these steps as being needed for national security purposes and for complying with international non-proliferation requirements.

The result was an instantaneous drop in global antimony supplies, causing a price spike. Prices had climbed to record levels by September 2024 and were expected to rise further as purchasers outside of China accumulated material in anticipation of the new export controls. This supply shortage has especially affected companies that depend on antimony in products like flame retardants, lead-acid batteries, and defense equipment and thus have already compelled Western business entities to try other sources as well as revise their supply chain approaches.

One of the most significant drivers of the antimony market is its vital contribution to the production of lead-acid batteries, particularly for electric vehicles (EVs). Antimony improves the performance and durability of such batteries, rendering it a necessity as the automotive sector transitions towards electrification. The increasing use of EVs has resulted in higher demand for antimony, thus propelling market growth. The trend supports global movements toward using environmentally friendly modes of transport and mitigating carbon footprint. Still, the increased demand widens the gap for available antimony supply, especially due to the Chinese restrictions on exportation, heightening the level of competition over accessible antimony resources.