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The zinc market share is expected to increase by 1286 thousand tons from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.07%.
This zinc market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers zinc market segmentations by end-user (construction, transportation, consumer goods, and others), application (galvanizing, die casting, brass and bronze, and others), and geography (APAC, Europe, North America, South America, and MEA). The zinc market report also offers information on several market vendors, including Boliden Group, Glencore Plc, Hindustan Zinc Ltd., Korea Zinc Co. Ltd., MITSUI MINING & SMELTING CO. LTD., MMG Ltd., Newmont Corp., Nyrstar NV, Teck Resources Ltd., and Votorantim SA among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing demand from developing countries is notably driving the zinc market growth, although factors such as stringent regulations and policies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the zinc industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Zinc Market Driver
The growing demand from developing countries is notably driving the zinc market growth. The global zinc market is witnessing significant growth in developing economies such as China, India, Brazil, Indonesia, and Mexico. Vendors in the market are shifting their manufacturing activities to these countries due to factors such as the availability of raw materials, cheap labor, low transportation costs, and less stringent government regulations on mining. The emergence of China and India as the manufacturing hubs in the automobile, construction, and other general industries in APAC will have a positive impact on market growth. Zinc is commonly used in the production of building panels, steel framing, and automotive components. The growing demand for passenger cars in APAC is expected to drive the demand for zinc. In China, in 2017, the production of passenger vehicles accounted for a share of 33% of the global passenger vehicles market. Initiatives such as Make in India to support in-house manufacturing will also support the growth of the automobile industry in India, as a result, will drive the demand for zinc during the forecast period.
Key Zinc Market Trend
The increase in zinc ore production capacity is the key market trend driving the zinc market growth. The ongoing exploration and production of zinc ore for meeting the demand for zinc will have a positive impact on market growth. The upgrade of various zinc mines such as the Rampura Agucha mine (India), the Gamsberg mine (South Africa), and the Dugald River mine (Australia) will increase the availability of raw material for the production of zinc. In FY2020 Hindustan Zinc produced 3.9 MMT of zinc ore at the Rampura Agucha mine. The ongoing upgrading of underground mine projects, including production shafts, surface and paste fill, and ventilation shafts, is expected to produce 5 MMT per annum of zinc ore during the forecast period. In November 2017, MMT Limited began the production of finished zinc concentrate at the Dugald River mine, Australia. The company is expecting to produce an average of 1.7 MMT per annum of zinc ore to produce almost 170 thousand tons per annum of zinc in concentrate and by-products. The upgrading of mining plants to produce zinc ore to meet the demand for zinc is expected to drive market growth during the forecast period.
Key Zinc Market Challenge
The major challenge impeding the zinc market growth is the stringent regulations and policies. Regulatory agencies such as the Environmental Protection Agency (EPA) laying regulatory norms for the production and use of chemicals and the requirement for adhering to regulations such as Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) for the production and use of chemical substances restrict market growth. In the US, the 40 Code of Federal Regulations (CFR) Part 440 part 103 by the EPA provides guidelines and standards for the direct and indirect dischargers for zinc processing and smelting operations. The guidelines and standards for direct and indirect discharges are incorporated in the National Pollutant Discharge Elimination System (NPDES). In December 2017, the EPA proposed to finalize the financial responsibility requirements under Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) for mining facilities. In Europe, the regulation Directive 2006/21/EC provides guidelines on waste management for mining industries. The stringent regulations on zinc mining for proper waste disposal are likely to have an adverse effect on market growth.
This zinc market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global zinc market as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the zinc market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the zinc market encompasses successful business strategies deployed by the key vendors. The zinc market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The zinc market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the zinc market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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70% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the zinc market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growth of these end-user industries in China, India, Japan, Indonesia, and South Korea will facilitate the zinc market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The rising outbreak of COVID-19 in the region is expected to negatively affect the growth of the zinc market in APAC. Currently, COVID-19 poses a huge challenge for the healthcare system in several countries across the region. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, are implementing a partial or complete lockdown. As of November 2020, the total number of confirmed COVID-19 cases in India was around 9.22 million, and the number of deaths was approximately 135,480. In March 2020, India imposed a complete nationwide lockdown to prevent the community spread of the disease. Since the mortality rate from COVID-19 is high, all manufacturing industries have been affected by the imposition of lockdowns, which had a negative impact on the growth of the market in focus in 2020.
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The zinc market share growth by the construction segment will be significant during the forecast period. The growing demand for zinc in producing galvanized steel, which is further used for manufacturing structural components in the construction industry, is expected to drive market growth. The superior strength and corrosion resistance of galvanized steel make it suitable for the construction industry.
This report provides an accurate prediction of the contribution of all the segments to the growth of the zinc market size and actionable market insights on post COVID-19 impact on each segment.
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Zinc Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.07% |
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Market growth 2021-2025 |
1286 thousand tons |
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Market structure |
Concentrated |
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YoY growth (%) |
1.66 |
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Regional analysis |
APAC, Europe, North America, South America, MEA, APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 70% |
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Key consumer countries |
China, US, Japan, Germany, and India |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Boliden Group, Glencore Plc, Hindustan Zinc Ltd., Korea Zinc Co. Ltd., MITSUI MINING & SMELTING CO. LTD., MMG Ltd., Newmont Corp., Nyrstar NV, Teck Resources Ltd., and Votorantim SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by End user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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