What Has Driven the Growth of the Zinc Market in Recent Years?
The zinc market has seen considerable growth due to a variety of factors.
• In the past few years, the size of the zinc market has seen substantial growth. It is projected to increase from $28.82 billion in 2024 to $31.15 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%.
The significant growth during the historical period is due to the increasing use of galvanization in construction, the expansion of the automotive industry, the prevalence of batteries and alloys, the healthcare and pharmaceutical industry, and the use of metal coatings and protection.
What are the Market Size and Expected Growth Rates for the Zinc Market?
The zinc market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the zinc market size is projected to experience robust growth, expanding to a value of $41.76 billion by 2029, with a compound annual growth rate (CAGR) of 7.6%.
This growth forecast is due to several factors such as the increase in infrastructure and construction, advancements in renewable energy storage, the rise of electric vehicles (EVs) and transportation, wellness and health trends, and the global economic recovery. Significant trends predicted in the forecast period include the growing interest in zinc as a nutritional supplement, market growth in emerging regions, the use of zinc alloys in manufacturing, initiatives for zinc recycling, and the incorporation of zinc in health and wellness products.
Which Key Drivers Are Propelling Th Zinc Market's Growth?
The burgeoning zinc market is attributed to the expansion of several heavy industries in evolving nations like China and Peru, which is a result of escalating population numbers and infrastructure development. In terms of population, it signifies the total sum of inhabitants residing in a specific country or region. Zinc's predominant role lies in the galvanization procedure, which serves to safeguard iron and steel from corrosion. As an illustration, as per the data released by Worldometer, a US-based reference website furnishing counters and real-time data on an array of subjects, in June 2022, China's current population stands at 1,450,341,718. Accordingly, the increasing population is steering the growth of the Zinc market.
How Is The Globa Zinc Market Divided Into Key Segments?
The zinc market covered in this report is segmented –
1) By Type: Construction, Transport, Consumer Goods, Electrical Appliances, And General Engineering
2) By Mining Type: Underground Mining, Surface Mining
Subsegments:
1) By Construction: Galvanized Steel, Zinc Coatings
2) By Transport: Automotive Components, Aerospace Applications
3) By Consumer Goods: Household Appliances, Zinc-Based Batteries
4) By Electrical Appliances: Wiring And Connectors: Electronic Components
5) By General Engineering: Mechanical Parts, Corrosion Resistance Applications
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What Trends Are Reshaping The Zinc Market Landscape?
Major corporations in the zinc market are focusing their efforts on the creation of innovative approaches, including zinc-based battery technology. This involves the design and usage of batteries that employ zinc as a crucial element in their construction and electrochemical operations. For example, in January 2022, Imprint Energy Inc., a firm based in the United States that produces zinc batteries, introduced the ‘ZinCore’ technology for zinc-based batteries. This new technology amplifies portable power capabilities and facilitates novel opportunities for advanced IoT product development and mobile connectivity. ZinCore batteries deliver ten times more power than Imprint's preceding ZincPoly battery within the same volume, ensuring it meets the demands of 5G radio with enhanced temperature ranges.
Who Are the Key Players in the Zinc Market?
Major companies operating in the zinc market include:
• Glencore plc
• Jiangxi Copper Corporation
• Hechi Jinchuan Group Co. Ltd.
• Zijin Mining Group Co. Ltd.
• Tongling Nonferrous Metals Group Holding Co. Ltd.
• Vedanta Resources plc
• Teck Resources Limited
• Boliden AB
• Korea Zinc Company Ltd.
• Hindustan Zinc Limited
• Kaz Minerals plc
• Boliden AB
• Chihong Zinc & Cadmium Co. Ltd.
• Hudbay Minerals Inc.
• Jinchuan Group
• Yunnan Yunxi Zinc Industry Group Co. Ltd.
• MMG Limited
• Tevali Mining
• China Nonferrous Metal Corporation
• Nyrstar NV
• Hunan Nonferrous Metals Corporation
• Ivanhoe Mines Limited
What are the Regional Insights into the Zinc Market?
Asia-Pacific was the largest region in the zinc market in 2024. The regions covered in the zinc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
