Antimony’s modest growth exposes much larger problem
Antimony demand is expected to grow by only about 3% between 2026-2030, but this modest growth is enough to expose a much larger problem.
Lead-acid battery demand is falling, while solar glass, flame retardants and defense are taking a larger share of the market. These applications require different products, purity levels and processing routes.
Meanwhile, China and Russia still control approximately 80% of global mining and processing capacity.
New supply is coming, but is being measured in years, just as geopolitical disruption is being measured in days. And, even if the three announced ex-China smelting projects are completed, a 27% processing gap remains in 2030 — and the price boom of 2024-2025 shows what happens when supply is disrupted.
Antimony is a silver-grey metalloid, primarily produced from the mineral stibnite, and is sold as concentrate, metal, antimony trioxide and a range of specialist compounds. Its main uses include:
- flame retardants: antimony trioxide makes fire-resistant additives more effective
- lead-acid batteries: improves strength and corrosion resistance
- solar and specialty glass: antimony compounds act as clarifying agents
- alloys: to harden lead and other metals
- semiconductors: infrared detectors, diodes and printed circuit boards
- military equipment: including ammunition primers, hardened projectiles, night-vision equipment, infrared sensors and explosive formulations
Antimony is designated a critical mineral by the US, EU, Japan and Australia.
