The Global Zinc Market Is Estimated To Record a CAGR of Around 10.83% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Zinc Market, 2023–2033. The globalZinc market is projected to exhibit a CAGR of around 10.83%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Zinc Market: American Chemet Corporation, Changsha Lantian Chemical Co. Ltd., EverZinc, Flaurea Chemicals, Global Chemical Co. Ltd, Hakusui Tech, Intermediate Chemicals Company, Brüggemann GmbH & Co. KG, Nexa, and Old Bridge Chemicals Inc.
Market Highlights
The global Zinc market is projected to be valued at USD 95.60 Billion by 2033, recording a CAGR of around 10.83% during the forecast period. The zinc market refers to the global industry involved in the production, consumption, and trade of zinc and its related products. It encompasses activities such as mining and refining of zinc ores, production of zinc alloys, fabrication of zinc-based products, and the distribution and sale of zinc to various end-use industries. The market also includes the supply chain, market dynamics, and factors influencing the demand and pricing of zinc.
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Zinc is primarily extracted from zinc sulfide ores, such as sphalerite, through a process called mining. Once extracted, the ores undergo a series of processes, including crushing, grinding, flotation, and roasting, to obtain pure zinc concentrates. These concentrates are then processed further through smelting and refining techniques to produce high-purity zinc metal.
The outbreak of the COVID-19 pandemic had a significant impact on the zinc market, causing disruptions across the supply chain and demand dynamics. The stringent lockdown measures and travel restrictions imposed worldwide to contain the spread of the virus hampered manufacturing activities, leading to a decrease in zinc consumption.
The construction industry, a major consumer of zinc, experienced a slowdown as construction projects were put on hold and workers were unable to operate at full capacity. The closure of manufacturing plants and disruption in supply chains also affected the demand for zinc in the automotive industry.
Furthermore, the economic uncertainties resulting from the pandemic led to reduced consumer spending, impacting the demand for consumer goods that utilize zinc. The overall decline in economic activity and global trade had a direct bearing on the zinc market, as the metal is widely used in industries closely linked to international trade and economic growth.
Segmental Analysis
The global Zincmarket has been segmented based on Form, End-Use Industries and Application.
Based on the Form, the Zinc market is segmented into T Power, Sheet. The Power segmentis expected to have the larger market share throughout the forecast period.
Based on End-Use Industries, the global Zinc market has been divided into Construction, Transportation, Consumer Goods, and Others. The Construction segment is anticipated to dominate the market.
Based on Application, the global Zinc market has been divided into Galvanizing, Die Casting, Others. the Galvanizing segment holds the largest share of the market during the forecast period.
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Regional Analysis
The Zinc market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East, &Africa. Among these regions, Asia-Pacific is a key player in the global zinc market, both in terms of production and consumption. The region is home to major zinc-producing countries such as China, Australia, India, and Kazakhstan. China, in particular, dominates the market with its significant zinc production capacity and robust industrial sector. Apart from Asia-Pacific, North America and Europe also hold a significant share in the zinc market. In North America, the United States is a major consumer of zinc, driven by the construction and automotive industries. The country’s infrastructure projects and the increasing demand for electric vehicles contribute to the steady growth of the zinc market.
