CSE : MAXM   |   FWB: R7V

CSE : MAXM

FWB : R7V

Maxus mining

Antimony
market

ANTIMONY
MARKET

Antimony’s Global Significance

Antimony’s Global Significance

Antimony is a critical input for the defense industry, particularly for armor-piercing ammunition, night vision goggles, infrared sensors, bullets, and precision optics, and the electronics industry, including semiconductors, cables, and batteries. 

  • China is the world’s leading producer of antimony, accounting for 48% of global production and 63% of U.S. antimony imports. The likelihood of antimony supply disruptions has now increased significantly, necessitating the western world to quickly secure antimony supply chains from non-Chinese sources.

  • In 2024, China announced export restrictions on antimony to restrict critical mineral shipments globally in the name of national security. 1

COUNTRIES WITH LARGEST RESERVES OF ANTIMONY WORLDWIDE AS OF 2023 (METRIC TONS)2

Source 1: Link   Source 2: Link

Strategic Metal

Antimony’s Hidden Role in Defense

As China produces an astonishing ~70% of the world’s rare earth minerals and controls nearly 50% of the global antimony supply, the new export restrictions pose a major supply shortage for the U.S:

American manufacturers use more than 50 million pounds of antimony each year for fireproofing compounds, batteries, ammunition, electronics, specialty glass, and other products, according to MetalTech.3 Antimony (Sb), a critical metalloid, is a key element of the American war machine, essential for:

Source 3: Link

GLOBAL ANTIMONY MARKET SHARE BY APPLICATION, 2023

6%

CERAMICS & GLASS

15%

CHEMICALS & ALLOYS

60%

FLAME RETARDANTS

Source 4: Link  

15%

LEAD ACID BATTERIES

4%

OTHERS

rising ANTIMONY MARKET

$ 0 B

Global Antimony Market Size, 2024

$ 0 B

Global Antimony Market Size, 2032

0 %

cagr market acceleration6

Antimony prices have surged since April 2024 due to a severe supply shortage. According to Fastmarkets, prices in Rotterdam rose at their fastest rate in over 40 years.5

Source 5: Link   Source 6: Link  

A Crucial Catalyst for Renewable Energy

SOLAR PANELS

In solar panels antimony enhances the efficiency of perovskite solar cells by improving light absorption and charge transport. Additionally, antimony compounds increase thermal stability, allowing panels to endure extreme conditions without frequent replacements. The EIA projects solar capacity to reach over 300 GW by 2030 and around 700 GW by 2050.7

Liquid-metal batteries

Liquid-metal batteries, a promising solution for storing solar energy, depend on antimony’s unique properties. These batteries enable efficient capture and distribution of excess solar power, addressing the intermittency challenges of renewable energy sources.7

PROJECTIONS FROM EIA ANNUAL ENERGY OUTLOOK VS ACTUALS FROM EIA MONTHLY ENERGY REVIEW

Source 7: Link  

Maxus mining

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