Antimony Market - Forecast(2023 - 2028)

Antimony Market Overview

The Antimony Market size is projected to reach US$3.0 billion by 2027, after growing at a CAGR of 6.2% during the forecast period 2022-2027. 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.

Antimony Market Report Coverage

The “Antimony Market Report – Forecast (2022-2027)” 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).

Key Takeaways

• The Asia-Pacific region dominated the Antimony Market in 2021. 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.

Figure: Antimony Market Revenue Share by Region, 2021 (%)

Antimony Market Segment Analysis – by Type

The alloys segment held a significant Antimony Market share in 2021 of over 20% and is anticipated to grow at a significant CAGR during the forecast period 2022-2027. 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 Statistical data, Germany produced approximately 328,000 purely electrically powered cars worth US$16.1 billion in 2021.

Antimony Market Segment Analysis - by Application

The flame retardant segment held a significant Antimony Market share of around 25% in 2021. 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), the total mine production of antimony in the country stood at 60,000 metric tons in 2021. According to Plastic Europe, in 2019, global plastic production stood at 368 million tonnes showing a 2.5% increase in comparison with 359 million tonnes produced in 2018. Hence the growth in polymer production is driving the market growth for flame retardants during the forecast period.

Antimony Market Segment Analysis – by Geography

The Asia-Pacific region held a dominant Antimony Market share of over 40% in the year 2021. 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), in 2020, the production of polymers in India was 12.35 million tons and in 2021, it was 13.54, an increase of 9.63%. According to the International Organization of Motor Vehicle Manufacturers (OICA), the total automobile production in China reached 2,60,82,220 units in 2021, an increase from 2,52,25,242 units in 2020 and 2,57,20,665 units in 2019 respectively. Hence, the growth in the end-use industries is driving the market for antimony during the forecast period.

Antimony Market Drivers

Growing demand for lightweight passenger vehicles

Antimony is generally used in the automotive industry for different applications such as electronic displays, semiconductors and fuel cells among others. According to Hedges Company review, the United States has around 17.55 million light vehicles registered in 2020. They also mentioned, Toyota company has registered around 2,112,940 units of light vehicle sales in the US during 2020-2021. According to IBEF facts, In January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers and quadricycles reached 1,860,809 units in India. 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 usage in the consumer goods and electronics sector

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.

Antimony Market Challenges

Adverse Health effects of Antimony

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.

Antimony Industry Outlook

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. Campine NV
2. Yiyang Huachang Antimony Industry Co. Ltd.
3. Korea Zinc Co. Ltd.
4. BASF SE
5. US Antimony
6. AMG Advanced Metallurgical Group
7. Hunan Chenzhou Mining Group Co. Ltd.
8. Korea Zinc Co. Ltd.
9. Lambert Metals International
10. Mandalay Resources Ltd.

Recent Developments

• 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.
• In November 2021, Molten Metal Corp. established Slovak Antimony Corp as a wholly-owned subsidiary of Molten Metals. The main purpose of this launch was to strengthen the company’s position in the market along with expanding its ability to produce several thousand tons of antimony annually over the next three to five years.
• In January 2021, Campine introduced its new process for the extraction of antimony from older lead batteries. The extracted antimony is then transformed into trioxide, which can be further utilized as an ingredient in fire-retardant plastics, paints and other materials.

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