Zinc

Zinc

Global Zinc Market to Reach 21.7 Million Tons by 2030

The global market for Zinc estimated at 18.4 Million Tons in the year 2023, is expected to reach 21.7 Million Tons by 2030, growing at a CAGR of 2.4% over the analysis period 2023-2030. Galvanizing Application, one of the segments analyzed in the report, is expected to record a 2.6% CAGR and reach 10.9 Million Tons by the end of the analysis period. Growth in the Die casting Application segment is estimated at 2.3% CAGR over the analysis period.

The U.S. Market is Estimated at 5.0 Million Tons While China is Forecast to Grow at 3.1% CAGR

The Zinc market in the U.S. is estimated at 5.0 Million Tons in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of 3.9 Million Tons by the year 2030 trailing a CAGR of 3.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.0% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

Global Zinc Market - Key Trends and Drivers Summarized

Zinc, an essential metal, known for its versatility is used in broad spectrum of applications in numerous industries. Growth in the market is mainly led by the increase in demand for galvanized steel is. Galvanization, which involves coating steel or iron with zinc to prevent rusting, is extensively used in the construction and automotive sectors. As global infrastructure development accelerates, especially in emerging economies, the demand for galvanized steel is expected to rise, thereby boosting zinc consumption. Additionally, the automotive industry`s recovery post-pandemic and the ongoing trend towards lighter vehicles for better fuel efficiency contribute to this demand, as zinc is crucial for the corrosion resistance properties it imparts to vehicle components.

Zinc is heavily involved in battery technology, particularly in the growing sector of zinc-air batteries, which is recognized for high energy density and safety compared to lithium-ion alternatives. The push for renewable energy and sustainable technologies is likely to enhance the role of zinc in the energy storage market. Beyond industrial applications, zinc`s versatility extends into agriculture, electronics, and health sectors. In agriculture, zinc is used to enhance crop growth and nutrition, addressing food security and nutritional needs. In the electronics industry, its conductive properties are essential for manufacturing components. Health-wise, zinc is a critical element in nutritional supplements, fortifying the health of populations. Moreover, its emerging role in the battery industry positions it as a key player in the shift towards a circular economy, echoing the nation`s ambitions for self-reliance and sustainable development.

Technological advancements and innovations in zinc recycling are setting new trends in the market. Zinc`s 100% recyclability supports shift towards sustainable and environmentally friendly practices, aligning with global trends towards green growth. Recycling not only helps in meeting the zinc demand more sustainably but also reduces the environmental impact associated with zinc mining and processing. The efficiency improvements in the recycling processes ensure that a greater proportion of zinc is reclaimed from end-of-life products. Additionally, as the circular economy gains traction globally, the importance of metal recycling, including zinc, is increasingly recognized. This not only supports environmental sustainability efforts but also stabilizes supply chains by reducing dependency on mined zinc, thus playing a crucial role in the overall market growth of zinc.

Select Competitors (Total 168 Featured) -

• BASF SE
• Belmont Metals, Inc.
• Eckart GmbH
• Glencore International AG
• Hindustan Zinc
• Korea Zinc Co., Ltd.
• Lanxess Corporation
• Mitsubishi Materials Corporation
• Nyrstar NV
• Sakai Chemical Industry Co., Ltd.
• Teck Resources Ltd.
• Umicore NV/SA
• Vedanta Resources PLC

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