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Zinc Market Trends and Forecast

According to lucintel, the future of the global zinc market looks promising with opportunities in the construction and infrastructure, transportation, consumer goods, and industrial machinery sectors. The global zinc market is expected to reach an estimated $90 billion by 2030 with a CAGR of 5% from 2023 to 2030. The major drivers for this market are increasing demand for galvanized steel and infrastructure development in emerging markets like India, Brazil, and Indonesia. Furthermore, growing demand from niche applications like smartphones, electric vehicles, mild hybrid engines, and power grid storage will drive the global zinc market.
Zinc Market

Zinc is primarily produced from zinc ore, especially sphalerite. The process involves mining, concentrating the ore, and then extracting pure zinc through smelting or electrolysis. Recycling also contributes significantly to zinc production. Valuable by-products like lead, copper, and cadmium are often recovered during the process. The cost of zinc depends on worldwide market trends, demand from industries like construction and automotive, as well as geopolitical factors. Being relatively abundant and used industrially, its price usually falls behind copper or aluminium. Economic tendencies along with stock levels affect prices as far as trade in zinc takes place at commodity exchanges. Specific price differentials change over time because global metals market supply/demand shifts
• Lucintel forecasts that construction and infrastructure will remain the largest end use industry over the forecast period due to increasing urbanization, industrialization, building, and construction activities.
• Galvanizing will remain the largest segment due to growing demand of galvanized steel in construction, automobile, and other industrial sectors. Zinc compounds segment will witness the highest growth over the forecast period supported by rising demand in rubber, paper, chemicals and paint applications.
• Asia Pacific will remain the largest region and it is expected to witness the highest growth over the forecast period supported by increasing urbanization, industrialization, and building and construction activities in this region, especially in China and India.


Country wise Outlook for the Zinc Market

The Zinc market is witnessing substantial growth globally, driven by increased demand from various industries such as construction and infrastructure, transportation, consumer goods and industrial machinery. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major zinc producers in key regions: the USA, Brazil, China, India, Japan, and Germany.
Zinc Market by Country

Emerging Trends in the Zinc Market

Emerging trends in the zinc market shaping its future applications and market dynamics:
• Increasing use of hot-dip galvanizing in automotive for Advanced High Strength Steel (AHSS) with exceptional surface quality: It is the process of hot-dip galvanizing that submerges steel parts into liquid zinc, forming a defensive layer on its surface to protect it from rusting and corrosion.
• Increasing use of zinc air-batteries in electric vehicles: The rising prevalence of zinc-air batteries in electric vehicles (EVs), which have a high capacity for storing electrical energy and thus enable longer distances on a single charge than standard lithium-ion batteries.
• Use of zinc as medicine in depression and psychosis: Research on mental health including depression and psychosis has recently attracted much attention due to growing evidence related to the role played by zinc. Zinc is an essential mineral involved in many biological processes such as neurotransmission and brain functioning.
• Technological Advancements: New applications for zinc especially in the agricultural sector in form of zinc fertilizers and healthcare sector where there are medicines and supplements manufactured using zinc.

Zinc Market Emerging Trend

A total of 134 figures / charts and 113 tables are provided in this 248-page report to help in your business decisions. A sample figure with insights is shown below.
Zinc Market by Segment

Recent Developments in the Zinc Market

Ongoing innovations and advancements in various sectors of the zinc market which have been highlighted by recent developments:
• Supply Constraints: Challenges in zinc production due to operational issues at mines, regulatory changes, or environmental concerns impacting supply levels.
• Demand Variations: Changes in industrial demand, particularly from sectors like automotive, construction, and infrastructure, which influence overall zinc consumption patterns.
• Technological Innovations: Breakthroughs on energy storage batteries powered by zinc-air cells have improved the role of zinc as part of solutions for renewable power sources.
• Sustainability Initiatives: There has been the increasing emphasis on mining practices that are environmentally friendly and recycling of zinc so as to reduce its environmental impact and maintain long-term supply sustainability.
• Market Dynamics: Changes concerning global trade policies, industrial production patterns, and regulatory shifts that influence consumption levels as well as pricing trends in relation to zinc.

Strategic Growth Opportunities for Zinc Market

The zinc market presents several strategic growth opportunities driven by industrial demand, infrastructure development, technological advancements, and sustainable applications. Here are key growth opportunities for the zinc market:
• Infrastructure Development: Galvanizing steel for construction, infrastructure projects and transportation industries is not possible without zinc. Therefore, as global infrastructure investment rises especially in emerging economies, the demand for it in construction materials, bridges, railways and pipelines increases. The strategic opportunities here lie in being a supplier of high-quality corrosion-resistant zinc products for durability concerns in such areas like infrastructural development.
• Automotive Industry: Zinc has numerous applications within die-casting parts used in engines, transmissions and chassis of vehicles. Today there is a growing need for zinc alloys that can reduce the weight of cars as well as provide durability amidst lightweight materials revolution occasioned by the emergence of electric vehicles (EVs). An opportunity exists to supply zinc alloyed components for EVs and support carmakers’ sustainable objectives.
• Galvanization: The importance of zinc lies in its corrosion resistance properties that make it suitable for galvanizing steel with several applications including automotive industry, construction sector etc. To take advantage of these growth opportunities companies should consider enlarging their galvanizing capacities, develop new technologies aimed at advance galvanization or even come up with customized coatings to meet specific industry requirements regarding durability and performance through highly developed processes.
• Battery Storage: This paper presents strategic growth opportunities in research and development of zinc-based battery technologies production scale up addressing challenges related to energy density and cycle life required to compete with other batteries chemistry. In particular types like Zinc-Air/ Zinc-Ion batteries are gaining popularity because they offer an alternative form of energy storage due to its abundance low cost nature which makes them recyclable.
• Healthcare and Agriculture: Zinc is essential in pharmaceuticals agricultural fertilizers dietary supplements. Additionally creating more production facilities for nutritional supplements made from this mineral can help tackle issues related to global health such as zinc deficiency while also improving zinc based fertilizers for greater crop yields and soil quality in a sustainable way.
• Technological Advancements: Zinc processing technologies have continuously improved by adopting such methods as hydrometallurgy and electrolysis to increase efficiency, minimize environmental footprint and reduce production costs. Opportunities exist in cleaner production methods from cradle –through the whole life cycle of zinc including reducing greenhouse gas emission, optimization of resource use across the value chain.
• Circular Economy Initiatives: This would help advance sustainability objectives while reducing dependence on primary zinc production. Prospects for growth include investing in recycling technologies, establishing closed-loop supply chains and working with stakeholders to improve recovery rates.
• Regulatory and Environmental Drivers: Various green technologies like renewable energy systems, electric vehicles (EVs), energy efficient buildings are among products that increasingly require this key material due to rising environmental regulations as well as sustainability commitments. Other strategic opportunities include positioning it as a green option to be used within these environmentally friendly applications while ensuring compliance with regulatory standards meant for environmental protection.
By taking advantage of these strategic growth opportunities, the zinc market can realize its full potential and transform numerous industries through strength, lightness, versatility.

Zinc Market Driver and Challenges

Zinc has a very important role in many industries including construction, infrastructure, transportation, and consumer goods. The changing market dynamics are being driven by the industrial demand, infrastructure development and automotive sector. However, challenges like market fluctuation, eco-impact, and recycling levels.
The factors responsible for driving the zinc market include:
1. Industrial Demand: Zinc is very important to many sectors, for instance, construction, automotive, infrastructure and consumer goods among others. The market expands due to the global increase in demand for zinc for galvanizing steel, die-casting and alloy production.
2. Infrastructure Development: Increase in infrastructure development projects mainly in emerging economies has led to more use of zinc in construction materials, bridges, railways and pipelines where corrosion resistant nature of zinc is paramount.
3. Automotive Sector: In the manufacture of automobiles zinc is widely used in die-cast components as well as galvanized steel parts. The increased demand for lightweight materials and electric vehicles (EVs) in the automotive sector has resulted into a higher requirement for zinc alloys and coatings.
4. Battery Technologies: Zinc-air and zinc-ion batteries are receiving attention as economical energy storage solutions because of the abundance of zinc, its low cost as well as recyclability. Renewable energy integration which is linked to grid stabilization initiatives leads to an increasing demand for zinc in energy storage applications.
5. Healthcare and Agriculture: Zinc’s significance within pharmaceuticals, nutritional supplements and agricultural fertilizers drives its continued demand growth rates. Human health requires this mineral while plants need it thereby leading to increased consumption by these industries.
Challenges facing the zinc market are:
1. Market fluctuation: Zinc price is influenced by global trading conditions, supply-demand balance, geopolitical factors and financial market volatilities. Market instability can affect profitability and investment decisions across the zinc value chain.
2. Eco-impact: Mining and smelting of zinc have environmental implications such as habitat destruction, water and soil pollution, and greenhouse gas emissions. Regulatory conformity with sustainability initiatives encourages cleaner production approaches.
3. Recycling levels: Raising recycling rates for zinc-containing waste metals in the form of end-of-life products like scrap steel faces logistical, technological and economic impediments. Progress is being made in improving recycling infrastructure and raising awareness on the advantages of zinc recycling.
4. Technological Constraints: Although there have been improvements, difficulties remain in the attempt to boost energy density, cycle life and cost effectiveness in comparison with other battery chemistries that are used with respect to zinc batteries.
Innovations in the zinc market are focused on sustainable mining practices, including improved ore processing efficiency and reduced environmental impact. There is a growing emphasis on zinc recycling initiatives to promote circular economy principles and minimize the reliance on primary production. Advances in coatings and alloys aim to enhance zinc's properties for corrosion resistance and durability in construction, automotive, and infrastructure applications. Innovations also extend to health and safety measures through automation and digital monitoring systems. Digitalization is enhancing market transparency and efficiency through blockchain technology and real-time data analytics for supply chain management.

Zinc Suppliers and Their Market Shares

In this globally competitive market, several key players such as Glencore PLC, Hindustan Zinc Ltd., Nyrstar etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players Contact Us.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies zinc companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the zinc companies profiled in this report include.
• Glencore International AG
• Nyrstar N.V.
• Hindustan Zinc Ltd.
• Korea Zinc Co., Ltd.
• Boliden Group
• China Minmetals Corp. Ltd.
• Nexa Resources SA
• Shaanxi Non-ferrous Metals Holding Group Co., Ltd
• Teck Resources Ltd.
• Peñoles
• Noranda Income Fund
These companies have established themselves as leaders in the zinc industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the zinc market are evolving, with the entry of new players and the emergence of innovative zinc technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.

Zinc Market by Segment

The zinc industry is experiencing growth across several key segments. Galvanizing remains a prominent application, with zinc-coated steel widely used in construction, automotive, and infrastructure sectors for corrosion protection. Zinc-based alloys are gaining traction for their versatility and enhanced mechanical properties, catering to diverse industrial applications. Brass and bronze, alloys of zinc with copper, continue to see demand in architectural hardware, electronics, and decorative items. Zinc compounds find applications in industries such as pharmaceuticals, rubber production, and agriculture for their chemical properties. Zinc semis, including sheets, rods, and castings, are essential in manufacturing processes across various sectors. These segments highlight zinc's diverse applications and its critical role in modern industrial processes and consumer goods.
This zinc market report provides a comprehensive analysis of the market's current trends, growth drivers, challenges, and future prospects in all major segments like above. It covers various segments, including end use industry, application, source, process, and primary source by mining type. The report offers insights into regional dynamics, highlighting the major markets for zinc and their growth potentials. The study includes trends and forecast for the global zinc market by end use industry, application, source, process, primary source by mining type, and by region as follows:

Zinc Market by End Use Industry [Volume (KT) and Value $M Analysis for 2018 – 2030]:


• Construction and Infrastructure
• Transportation
• Consumer Goods
• Industrial Machinery
• Others

Zinc Market by Application [Volume (KT) and Value $M Analysis for 2018 – 2030]:


• Galvanizing
• Zinc Base Alloy (Die casting)
• Brass and Bronze
• Zinc Compounds
• Zinc Semis
• Other Applications

Zinc Market by Process [Volume (KT) and Value $M Analysis for 2018 – 2030]:


• Hydrometallurgical Process
• Pyrometallurgical Process

Zinc Market by Source [Volume (KT) and Value $M Analysis for 2018 – 2030]:


• Primary (From Mining)
• Secondary (From Recycling

Zinc Market by Primary Source by Mining Type Value $M Analysis for 2018 – 2030]:


• Underground
• Open Pit Type
• Combination of Both

Features of Zinc Market

• Market Size Estimates: Zinc market size estimation in terms of value ($M) and volume (KT)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by end use industry, application, source, process, primary source by mining type.
• Regional Analysis: Zinc market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different end use industry, application, source, process, primary source by mining type and regions for the zinc market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the zinc market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in zinc or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

FAQ

Q1. What is the zinc market size?

Answer:The global zinc market is expected to reach an estimated $90 billion by 2030.

Q2. What is the growth forecast for zinc market?

Answer:The zinc market is expected to grow at a CAGR of 2% from 2023 to 2030.

Q3. What are the major drivers influencing the growth of the zinc market?

Answer: The major drivers for this market are increasing demand for galvanized steel and infrastructure development in emerging markets like India, Brazil, and Indonesia. Furthermore, growing demand from niche applications like smartphones, electric vehicles, mild hybrid engines, and power grid storage will drive the global zinc market.

Q4. What are the major applications or end use industries for zinc?

Answer:Construction and infrastructure is the major end use industries for zinc market.

Q5. What are the emerging trends in zinc market?

Answer:Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of hot-dip galvanizing in automotive for advance high strength steels (AHSS) with exceptional surface quality, increase in use of zinc-air batteries in electric vehicles, and use of zinc in medicine for depression and psychosis..

Q6. Who are the key players in Zinc Market?

Answer:Some of the key zinc companies are as follows:
• Glencore International AG
• Nyrstar N.V.
• Hindustan Zinc Ltd.
• Korea Zinc Co., Ltd.
• Boliden Group
• China Minmetals Corp. Ltd.
• Nexa Resources SA
• Shaanxi Non-ferrous Metals Holding Group Co., Ltd
• Teck Resources Ltd.
• Peñoles
• Noranda Income Fund
Q7. Which zinc product segment will be the largest in future?

Answer: Lucintel forecasts that galvanizing will remain the largest segment due to growing demand of galvanized steel in construction, automobile, and other industrial sectors. Zinc compounds segment will witness the highest growth over the forecast period supported by rising demand in rubber, paper, chemicals and paint applications.

Q8. Who are the key players in Zinc Market?

Answer:Asia Pacific is expected to remain the largest region and witness the highest growth over next 7 years

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global zinc market by end use (construction and infrastructure, transportation, consumer goods, industrial machinery, and others), application (galvanizing, zinc base alloy, brass and bronze, zinc compounds, zinc semis, and others), process (hydrometallurgical and pyrometallurgical), by source (primary and secondary), by primary source by mining type (underground, open pit type, and combination of both), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 7 years in this market?


For any questions related to zinc market or related to zinc companies, zinc market share, zinc market analysis, zinc market size, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon
 
Table of Contents

1. Executive Summary

2. Market Background and Classifications
2.1: Introduction, Background, and Classifications
2.2: Supply Chain Analysis
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends (2018-2023) and Forecasts (2024-2030)
3.2: Global Zinc market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Zinc market by End Use Industry
3.3.1: Construction and Infrastructure
3.3.2: Transportation
3.3.3: Consumer Goods
3.3.4: Industrial Machinery
3.3.5: Others
3.4: Global Zinc market by Application:
3.4.1: Galvanizing
3.4.2: Zinc Based Alloy
3.4.3: Brass and Bronze
3.4.4: Chemical Compounds
3.4.5: Zinc Semis
3.4.6: Other Applications
3.5: Global Zinc market by Process
3.5.1: Hydrometallurgical Process
3.5.2: Pyrometallurgical Process
3.6: Global Zinc market by Source
3.6.1: Primary (from mining)
3.6.2: Secondary (from scrap)
3.7: Primary Source by Mining type

4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Zinc market by Region
4.2: North American Zinc market
4.2.1: Market by End Use Industry: Construction and infrastructure, Transportation, Consumer goods, Industrial machinery, and Others
4.2.2: Market by Application: Galvanizing, Zinc base alloy, Brass and Bronze, Zinc compounds, Zinc semis, and Others
4.2.3: United States Zinc market
4.2.4: Canadian Zinc market
4.2.5: Mexican Zinc market
4.3: European Zinc market
4.3.1: Market by End Use Industry: Construction and infrastructure, Transportation, Consumer goods, Industrial machinery, and Others
4.3.2: Market by Application: Galvanizing, Zinc base alloy, Brass and Bronze, Zinc compounds, Zinc semis, and Others
4.3.3: French Zinc market
4.3.4: United Kingdom Zinc market
4.3.5: German Zinc market
4.3.6: Russian Zinc market
4.3.7: Spanish Zinc market
4.3.8: Italian Zinc market
4.4: APAC Zinc market
4.4.1: Market by End Use Industry: Construction and infrastructure, Transportation, Consumer goods, Industrial machinery, and Others
4.4.2: Market by Application: Galvanizing, Zinc base alloy, Brass and Bronze, Zinc compounds, Zinc semis, and Others
4.4.3: Chinese Zinc market
4.4.4: Japanese Zinc market
4.4.5: Indian Zinc market
4.4.6: South Korean Zinc market
4.5: ROW Zinc market
4.5.1: Market by End Use Industry: Construction and infrastructure, Transportation, Consumer goods, Industrial machinery, and Others
4.5.2: Market by Application: Galvanizing, Zinc base alloy, Brass and Bronze, Zinc compounds, Zinc semis, and Others
4.5.3: Central and South American Zinc market
4.5.4: The Middle Eastern and African Zinc market

5. Competitors Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Zinc market by End Use Industry
6.1.2: Growth Opportunities for the Global Zinc market by Application
6.1.3: Growth Opportunities for the Global Zinc market by Source
6.1.4: Growth Opportunities for the Global Zinc market by Process
6.1.5: Growth Opportunities for the Global Zinc market by Region
6.2: Emerging Trends in the Global Zinc market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Zinc Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Zinc Market

7. Company Profile
7.1: Glencore International AG
7.2: Nyrstar N.V.
7.3: Hindustan Zinc Ltd.
7.4: Korea Zinc Co., Ltd.
7.5: Boliden Group
7.6: China Minmetals Corp. Ltd.
7.7: Nexa Resources SA
7.8: Shaanxi Non-ferrous Metals Holding Group Co., Ltd
7.9: Teck Resources Ltd.
7.10: Peñoles
7.11: Noranda Income Fund
.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
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Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
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