Global Antimony Market Expected to Grow with CAGR of +3.8% Over Next Six Years

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The global antimony market is set to experience a steady increase in demand over the next six years, with a forecasted CAGR of +3.8% in volume and +6.2% in value. By 2030, the market is expected to reach 736K tons and $8.8B respectively.

Market Forecast

Driven by rising demand for antimony worldwide, the market is expected to start an upward consumption trend over the next six years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +3.8% for the period from 2024 to 2030, which is projected to bring the market volume to 736K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.2% for the period from 2024 to 2030, which is projected to bring the market value to $8.8B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Antimony

In 2024, the amount of antimony consumed worldwide expanded modestly to 589K tons, growing by 2.7% against 2023. Over the period under review, consumption, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 6%. As a result, consumption attained the peak volume of 877K tons. From 2019 to 2024, the growth of the global consumption remained at a somewhat lower figure.

The global antimony market size expanded rapidly to $6.1B in 2024, rising by 6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a noticeable decrease. Over the period under review, the global market hit record highs at $7.9B in 2018; however, from 2019 to 2024, consumption remained at a lower figure.

Consumption By Country

China (280K tons) constituted the country with the largest volume of antimony consumption, accounting for 48% of total volume. Moreover, antimony consumption in China exceeded the figures recorded by the second-largest consumer, Russia (139K tons), twofold. The third position in this ranking was taken by Tajikistan (55K tons), with a 9.3% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in China stood at -6.7%. In the other countries, the average annual rates were as follows: Russia (+11.2% per year) and Tajikistan (+4.2% per year).

In value terms, the largest antimony markets worldwide were China ($2.9B), Russia ($1.5B) and Tajikistan ($642M), with a combined 83% share of the global market.

Russia, with a CAGR of +11.6%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2024, the highest levels of antimony per capita consumption was registered in Tajikistan (5.3 kg per person), followed by Portugal (1.3 kg per person), Bolivia (1 kg per person) and Russia (1 kg per person), while the world average per capita consumption of antimony was estimated at 0.1 kg per person.

From 2013 to 2024, the average annual growth rate of the antimony per capita consumption in Tajikistan totaled +1.8%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Portugal (-4.8% per year) and Bolivia (-7.1% per year).

Production

World Production of Antimony

In 2024, production of antimony increased by less than 0.1% to 600K tons, rising for the third consecutive year after three years of decline. Over the period under review, production, however, continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2018 with an increase of 5.7% against the previous year. As a result, production attained the peak volume of 858K tons. From 2019 to 2024, global production growth remained at a somewhat lower figure.

In value terms, antimony production expanded significantly to $6.3B in 2024 estimated in export price. Overall, production, however, saw a slight slump. The pace of growth appeared the most rapid in 2022 with an increase of 24%. Over the period under review, global production reached the peak level at $7.7B in 2018; however, from 2019 to 2024, production remained at a lower figure.

Production By Country

China (284K tons) constituted the country with the largest volume of antimony production, accounting for 47% of total volume. Moreover, antimony production in China exceeded the figures recorded by the second-largest producer, Russia (139K tons), twofold. Tajikistan (72K tons) ranked third in terms of total production with a 12% share.

In China, antimony production shrank by an average annual rate of -6.6% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Russia (+11.1% per year) and Tajikistan (+6.4% per year).

Imports

World Imports of Antimony

For the third year in a row, the global market recorded decline in supplies from abroad of antimony, which decreased by -1% to 47K tons in 2024. Over the period under review, imports saw a mild slump. The growth pace was the most rapid in 2021 when imports increased by 32%. Over the period under review, global imports attained the maximum at 53K tons in 2018; however, from 2019 to 2024, imports remained at a lower figure.

In value terms, antimony imports skyrocketed to $708M in 2024. Overall, imports, however, recorded a tangible increase. The most prominent rate of growth was recorded in 2021 when imports increased by 116%. Over the period under review, global imports attained the maximum in 2024 and are likely to see steady growth in the immediate term.

Imports By Country

The countries with the highest levels of antimony imports in 2024 were France (7.9K tons), Belgium (6.9K tons), the United States (4.8K tons), Thailand (4.3K tons), Japan (4.2K tons), the Netherlands (3.4K tons), India (2.7K tons), Ecuador (2.5K tons) and South Korea (2K tons), together reaching 83% of total import.

From 2013 to 2024, the biggest increases were recorded for the Netherlands (with a CAGR of +15.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, France ($130M), Belgium ($112M) and the United States ($76M) were the countries with the highest levels of imports in 2024, together accounting for 45% of global imports. Japan, Thailand, the Netherlands, India, South Korea and Ecuador lagged somewhat behind, together accounting for a further 38%.

The Netherlands, with a CAGR of +22.6%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the average antimony import price amounted to $15,193 per ton, rising by 41% against the previous year. Over the period under review, the import price recorded a perceptible increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 63%. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($16,457 per ton), while Ecuador ($8,327 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Antimony

In 2024, overseas shipments of antimony decreased by -21.4% to 57K tons for the first time since 2016, thus ending a seven-year rising trend. Over the period under review, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2017 when exports increased by 43% against the previous year. Over the period under review, the global exports attained the peak figure at 73K tons in 2023, and then plummeted in the following year.

In value terms, antimony exports expanded markedly to $602M in 2024. Overall, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by 120%. Over the period under review, the global exports attained the maximum at $618M in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

Exports By Country

In 2024, Tajikistan (17K tons), distantly followed by Portugal (10K tons), China (5K tons), Thailand (4.5K tons), the United States (2.9K tons) and Vietnam (2.8K tons) were the major exporters of antimony, together mixing up 74% of total exports. Peru (2.5K tons), the Netherlands (2.1K tons), Myanmar (2.1K tons) and Oman (1.6K tons) took a minor share of total exports.

From 2013 to 2024, the biggest increases were recorded for Portugal (with a CAGR of +48.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Tajikistan ($197M) remains the largest antimony supplier worldwide, comprising 33% of global exports. The second position in the ranking was taken by China ($92M), with a 15% share of global exports. It was followed by Thailand, with an 11% share.

In Tajikistan, antimony exports increased at an average annual rate of +26.6% over the period from 2013-2024. In the other countries, the average annual rates were as follows: China (+14.3% per year) and Thailand (+29.6% per year).

Export Prices By Country

The average antimony export price stood at $10,495 per ton in 2024, rising by 38% against the previous year. In general, export price indicated a perceptible increase from 2013 to 2024: its price increased at an average annual rate of +3.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, antimony export price decreased by -6.8% against 2022 indices. The pace of growth was the most pronounced in 2021 an increase of 66%. Over the period under review, the average export prices attained the peak figure at $11,255 per ton in 2022; however, from 2023 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was China ($18,515 per ton), while Portugal ($583 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Oman (+24.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform