Antimony's essential applications span a wide range of industries. A significant portion of global consumption, accounting for 39% in the U.S. in 2024, is dedicated to flame-retardant materials used in plastics, textiles, electronics, military equipment (including vehicles, aircraft interiors, and protective gear), and various consumer products such as furniture and children's clothing. Antimony trioxide, in particular, serves as a crucial fire retardant.
Beyond flame retardancy, antimony is a critical ingredient in lead-acid batteries, where it enhances longevity and performance, and is also found in emerging liquid metal battery technologies. As an alloying agent, it is added to lead and tin to increase hardness and durability, making it vital for bearings, ammunition, and solders. Specifically, it hardens lead in ammunition and improves the penetration capacity of armor-piercing rounds.
The metalloid is also integral to semiconductors and electronics, utilized in diodes, infrared detectors, specialized sensors, and for enhancing conductivity in circuits through compounds like antimony-doped tin oxide. Furthermore, antimony oxide improves clarity and durability in solar panel glass manufacturing, and the element finds use in explosives and as a decolorizing agent in glass and a catalyst for PET polymers.
The supply of antimony holds significant strategic importance due to its limited global production and steadily growing demand, particularly within the defense and electronics sectors. The U.S. Department of Defense classifies antimony as a "critical military metal" and a "Tier 1 critical mineral," underscoring its essential role in national security.
Its function in ammunition primers, ensuring reliable detonation, and in flame retardants, providing vital minutes for evacuation during emergencies, directly contributes to battlefield safety and defense readiness. The United States currently relies on imports for 100% of its antimony demand, with North America heavily dependent on foreign sources, predominantly China.
The global antimony market is projected to expand at a Compound Annual Growth Rate (CAGR) of 5.2% between 2025 and 2030, with demand for photovoltaic glass alone experiencing a 13.8-fold increase between 2010 and 2022. Securing reliable supply chains for this critical material has thus become a national security priority, especially given that the U.S. has not engaged in domestic antimony production since 2001.
The strategic significance of antimony is further highlighted by its exemption from broad-based U.S. import tariffs, a measure typically reserved for materials deemed essential for national defense under Section 232 of the Trade Expansion Act.
Primary antimony is predominantly sourced from the ore stibnite (Sb2S3). This ore is mined and then refined through processes like roasting and reduction to extract the pure metal. Global primary production is highly concentrated, with China historically dominating the market, accounting for over 70% of mined output. Other significant producers include Russia, Bolivia, and Tajikistan.
Primary antimony production faces a confluence of challenges, including significant geopolitical risks, the depletion of high-grade ores, and growing environmental concerns. Geopolitical tensions are particularly acute, as approximately 90% of global mined antimony in 2024 was concentrated in China, Russia, and Tajikistan. China, leveraging its dominant position, imposed export restrictions on antimony in August 2024, culminating in a complete ban on exports to the U.S. in December 2024, citing "national security" reasons.
These actions caused antimony prices to skyrocket, with current prices in 2025 reaching $55,000 per tonne. Simultaneously, Russian supply to Western markets has been disrupted by sanctions imposed following the 2022 invasion of Ukraine. This leaves Western nations facing a critical shortage, compounded by a lack of domestic production and limited alternative sources. Consequently, governments and defense contractors are actively seeking to establish secure supply chains outside the influence of China and Russia.
The control exerted by China over primary antimony production and midstream processing, coupled with its explicit use of export restrictions for "national security" purposes, reveals a deliberate geopolitical strategy.
This is not merely a market fluctuation; it represents China's deployment of its critical mineral supply as a "resource weapon" or a diplomatic instrument. Such actions directly influence global prices and pose a tangible threat to the national security and industrial stability of importing nations.
This situation necessitates a fundamental re-evaluation of Western supply chain strategies, moving beyond conventional market economics to prioritize resilience, diversification, and the development of domestic production and recycling capabilities, even if these initiatives entail higher initial costs.
The current environment also underscores the imperative for international cooperation with politically stable jurisdictions to secure vital mineral supplies.
Compounding these geopolitical challenges is the issue of ore depletion and declining grades. China's share of global production is stagnating due to increasingly depleted reserves and a decrease in ore quality. Globally, mined antimony production has seen a consistent decline since 2011, with overall output falling from approximately 187 kt to 110 kt in 2023. This reduction is partly attributable to stricter environmental and safety regulations in China and the closure of smaller mines.
Additionally, mines and smelters in other parts of the world have ceased operations due to previously weaker demand and lower antimony prices. This has resulted in a shortage of antimony concentrate, leading many antimony smelters in China to operate at only 45% to 55% of their capacity in recent years. The antimony market is currently in deficit, reflected in the dramatic rise in prices and low stock levels.
Secondary production offers a more sustainable and secure alternative through the recovery of antimony from end-of-life products and industrial waste streams. Key sources for this recovery include lead-acid batteries, where antimony is utilized to strengthen the lead grids. Additionally, many consumer and industrial plastics contain antimony trioxide, which serves as a flame retardant.
Electronic waste, or e-waste, is another significant source, as various electronic components often contain antimony. Furthermore, industrial alloys and residues from glassmaking also contribute to the potential recovery of this valuable metal. The recycling process typically involves mechanical separation, followed by thermal treatment to isolate materials, and advanced metallurgical processes to retrieve pure antimony or its compounds.
This method not only proves to be more energy-efficient and less carbon-intensive than traditional mining but also helps to reduce environmental impact while mitigating the geopolitical and supply risks associated with primary production.
Antimony's strategic importance as a critical metalloid for defense, electronics, and emerging clean energy technologies cannot be overstated. The vulnerabilities of its primary supply, stemming from geopolitical risks such as China's dominance and export restrictions, Russian sanctions, and the inherent challenges of resource depletion, underscore an urgent global imperative. The current market deficit and soaring prices are direct consequences of these supply chain fragilities.
In this context, secondary production through recycling emerges not merely as an environmental preference but as a strategic necessity for building resilient supply chains and enhancing national security. Recycling offers significant environmental benefits, including a dramatically reduced carbon footprint, lower energy consumption, and minimized land disruption compared to primary mining. Economically, it translates into lower operational costs and the ability to monetize waste streams. Critically, increasing recycling rates is vital to lessen dependence on primary mining and effectively offset the inherent supply chain risks associated with traditional extraction.
As the demand for recycled critical materials grows, companies like Quest Metals are becoming essential. With expertise in the recovery of minor and critical metals from e-waste and industrial scrap, Quest Metals is positioned as a key player in the secondary antimony market.