The global Zinc market stood at approximately 13.8 million tonnes in 2023 and is anticipated to grow at a CAGR of 2.14% during the forecast period until 2034.
Zinc (Zn), an essential chemical element, plays a pivotal role in modern society due to its abundance and versatile applications. As the primary ore mineral globally and the 23rd most prevalent element in the earth's crust, zinc ranks fourth among metals in worldwide production, trailing only iron, aluminum, and copper. Exhibiting slight brittleness at room temperature with a silvery-grey appearance upon oxidation removal, zinc finds utility across various sectors, from metal manufacturing to pharmaceuticals. However, its primary function lies in the galvanization of steel or iron components, a process where zinc forms a protective layer upon exposure to air, preventing corrosion. Galvanization not only extends the lifespan of treated materials but also enhances their durability and cost-effectiveness, eliminating the need for surface preparation, inspections, or additional coatings. Hot-dip galvanization, the prevalent method, involves immersing steel or iron in molten zinc, fostering a metallurgical bond between the two metals. The resulting zinc oxide layer further reacts with carbon dioxide, forming a protective zinc carbonate coating. Apart from galvanization, zinc serves diverse purposes, including energy storage in safer and more economical zinc-ion batteries, utilization in zinc compounds across rubber, chemical, paint, and agricultural sectors, application in automotive coatings to prevent corrosion, and deployment in medical devices owing to its environmental safety. Additionally, zinc alloys feature prominently in construction, marine industries, and various other applications, demonstrating zinc's indispensable role in modern life.
The dominance of the construction industry in the zinc market can be attributed to several factors. Firstly, zinc is widely used in the construction sector for galvanizing steel, which provides corrosion resistance and extends the lifespan of structures, thus reducing maintenance costs. Additionally, zinc alloys are utilized in various construction applications such as roofing, cladding, and fittings due to their durability and aesthetic appeal. As the construction industry experiences growth, particularly in developing regions where urbanization and infrastructure development are on the rise, the demand for zinc is expected to increase correspondingly. Moreover, initiatives aimed at sustainable construction practices, which prioritize materials with long lifespans and low environmental impact, further drive the demand for zinc-based products. Additionally, advancements in construction technologies and the increasing adoption of zinc in innovative applications, such as zinc-air batteries for energy-efficient buildings, contribute to the growth of the zinc market within the construction sector. Overall, the construction industry's dominance in the zinc market is expected to persist as urbanization, infrastructure development, and sustainability considerations continue to shape the global construction landscape. The global Zinc market is likely to reach approximately 17.4 million tonnes in 2034.
Geographically, The Asia Pacific region emerges as the foremost consumer of zinc due to pivotal factors. With booming economies like China, India, and Southeast Asian nations, experiencing rapid industrialization, urban expansion, and infrastructure ventures, the demand for zinc in construction, manufacturing, and diverse industries escalates. Additionally, the region's substantial population fuels the need for zinc in consumer goods, automobiles, and electronics. Its robust manufacturing sector, spanning automotive, electronics, and machinery industries, intensifies zinc usage, particularly in steel galvanization for corrosion prevention. Government initiatives and infrastructure projects, notably in China and India, further propel zinc demand, fuelling construction endeavours such as highways, bridges, and urban infrastructure developments, necessitating substantial quantities of zinc for steel coatings and applications.
Based on the end-user applications, the global Zinc market is divided into Galvanizing, Die-casting Alloys, Brass & Casting, Chemical, and Others. Among these, Galvanizing is the major segment and held about 51% of the global Zinc market in 2023. Also, Die-casting Alloys is the second biggest application of Zinc.
Major players in the Global Zinc market are Boliden AB, Glencore, Grupo Mexico, Hindustan Zinc, Koreazinc, MMG Limited, Nyrstar, Teck Resources Limited, Vedanta Resources Limited, Volcan, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Zinc which covers production, demand and supply of Zinc market in the globe.
• To analyse and forecast the market size of Zinc
• To classify and forecast Global Zinc market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Zinc market in the globe.
To extract data for Global Zinc market, primary research surveys were conducted with Zinc manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Zinc market over the coming years.
ChemAnalyst calculated Zinc demand across the globe by analyzing the volume of Zinc consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Zinc manufacturers and other stakeholders
• Organizations, forums and alliances related to Zinc distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Zinc manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Zinc market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
13.8 million tonnes
Market size Volume in 2034
17.4 million tonnes
Growth Rate
CAGR of 2.14% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Galvanizing, Die-casting Alloys, Brass & Casting, Chemical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Zinc in terms of volume in 2023?
Ans:
The global market size of Zinc has reached approximately 13.8 million tonnes in 2023.
Q2.
Which region is the leading consumer of Zinc?
Ans:
The Asia Pacific region is the leading consumer of Zinc globally.
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