Antimony Market

The global antimony market is expected to experience growth in both consumption and production over the next eight years. China remains the largest consumer and producer of antimony, with Russia and Tajikistan also playing significant roles in the market. The market is forecasted to increase in both volume and value terms, with consumption expected to rise steadily. Imports and exports of antimony are also expected to see growth, with countries like France, the United States, and China being major players in the global market. Overall, the future looks promising for the antimony market worldwide.

Market Forecast

Driven by rising demand for antimony worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 744K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.5% for the period from 2022 to 2030, which is projected to bring the market value to $7.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Antimony

In 2022, after three years of decline, there was growth in consumption of antimony, when its volume increased by 0.6% to 585K tons. In general, consumption, however, continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of 6.1%. Global consumption peaked at 900K tons in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global antimony market size declined slightly to $4.6B in 2022, which is down by -4.3% 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, saw a deep slump. Global consumption peaked at $9B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

China (292K tons) constituted the country with the largest volume of antimony consumption, comprising approx. 50% of total volume. Moreover, antimony consumption in China exceeded the figures recorded by the second-largest consumer, Russia (125K tons), twofold. The third position in this ranking was held by Tajikistan (47K tons), with an 8.1% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled -8.0%. In the other countries, the average annual rates were as follows: Russia (+13.2% per year) and Tajikistan (+4.2% per year).

In value terms, China ($2.3B) led the market, alone. The second position in the ranking was held by Russia ($1.1B). It was followed by Tajikistan.

In China, the antimony market decreased by an average annual rate of -10.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Russia (+10.5% per year) and Tajikistan (+5.4% per year).

In 2022, the highest levels of antimony per capita consumption was registered in Tajikistan (4.7 kg per person), followed by Portugal (2 kg per person), Bolivia (1.1 kg per person) and Russia (0.9 kg per person), while the world average per capita consumption of antimony was estimated at 0.1 kg per person.

In Tajikistan, antimony per capita consumption expanded at an average annual rate of +1.7% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Portugal (-0.5% per year) and Bolivia (-7.9% per year).

Production

World Production of Antimony

In 2022, production of antimony was finally on the rise to reach 591K tons after three years of decline. Over the period under review, production, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2018 when the production volume increased by 5.6% against the previous year. Global production peaked at 885K tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, antimony production dropped to $4.6B in 2022 estimated in export price. Overall, production, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 37%. Global production peaked at $10.3B in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

China (303K tons) remains the largest antimony producing country worldwide, comprising approx. 51% of total volume. Moreover, antimony production in China exceeded the figures recorded by the second-largest producer, Russia (125K tons), twofold. The third position in this ranking was taken by Tajikistan (65K tons), with an 11% share.

In China, antimony production decreased by an average annual rate of -7.8% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Russia (+13.1% per year) and Tajikistan (+6.9% per year).

Imports

World Imports of Antimony

In 2022, approx. 46K tons of antimony were imported worldwide; falling by -8.5% on the previous year's figure. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 29%. Over the period under review, global imports hit record highs at 52K tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, antimony imports surged to $579M in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 113%. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports By Country

France (9.3K tons) and the United States (8.4K tons) were the main importers of antimony in 2022, resulting at near 20% and 18% of total imports, respectively. Japan (5.2K tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Belgium (10%), the Netherlands (10%) and South Korea (6.3%). Spain (1.8K tons), Canada (1.7K tons), India (1.2K tons) and Pakistan (1.1K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +23.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest antimony importing markets worldwide were France ($121M), the United States ($96M) and Japan ($69M), with a combined 49% share of global imports. The Netherlands, Belgium, South Korea, Spain, India, Pakistan and Canada lagged somewhat behind, together accounting for a further 38%.

Among the main importing countries, the Netherlands, with a CAGR of +24.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average antimony import price stood at $12,474 per ton in 2022, surging by 27% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 65% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($13,324 per ton), while Canada ($4,480 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Antimony

After five years of growth, overseas shipments of antimony decreased by -1.9% to 53K tons in 2022. Overall, exports, however, enjoyed notable growth. The pace of growth was the most pronounced in 2017 with an increase of 43% against the previous year. Over the period under review, the global exports hit record highs at 54K tons in 2021, and then declined modestly in the following year.

In value terms, antimony exports skyrocketed to $590M in 2022. In general, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by 131% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

In 2022, Tajikistan (18K tons), distantly followed by China (11K tons), the Netherlands (4.6K tons), the United States (3.7K tons) and Oman (3.5K tons) represented the key exporters of antimony, together achieving 77% of total exports. The following exporters - South Korea (1.7K tons), Thailand (1.6K tons), India (1.6K tons), Portugal (1.4K tons) and Peru (1.4K tons) - each recorded a 14% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +110.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Tajikistan ($215M), China ($142M) and the Netherlands ($60M) constituted the countries with the highest levels of exports in 2022, together accounting for 71% of global exports. Oman, South Korea, India, Thailand, the United States, Peru and Portugal lagged somewhat behind, together accounting for a further 21%.

Oman, with a CAGR of +229.6%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average antimony export price amounted to $11,177 per ton, growing by 24% against the previous year. Overall, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, antimony export price increased by +105.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 66%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($13,294 per ton), while Portugal ($563 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+56.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform