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Zinc Market Size, Share, Trends, Growth And Outlook 2024-2033
Zinc Market Size
As per the report, the zinc market size has grown strongly in recent years. It will grow from $27 billion in 2023 to $29.15 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The zinc market size is expected to see strong growth in the next few years. It will grow to $38.87 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
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Rising Population Is Propelling The Growth Of The Zinc Market
The growth in the Zinc market is due to an increase in various heavy industries in developing countries such as China and Peru owing to the rising population and infrastructure. Population refers to the whole number of people or inhabitants in a country or region. The primary use of zinc is in the galvanizing process, which protects iron and steel from rusting. For instance, In June 2022, according to Worldmeter, a US-based reference website that provides counters and real-time statistics for diverse topics, the current population of China is 1,450,341,718. Therefore, the rising population is driving the growth of the Zinc market.
Zinc Market Giants Drive Innovation With Battery Technologies
Major companies operating in the zinc market are concentrating their focus on developing innovative solutions such as zinc-based battery technology. Zinc-based battery technology refers to the development and utilization of batteries that incorporate zinc as a key component in their construction and electrochemical processes. For instance, in January 2022, Imprint Energy Inc., a US-based zinc-battery manufacturing company, launched the 'ZinCore' zinc-based battery technology. ZinCore battery technology enhances portable power capabilities, opening new possibilities in advanced IoT product design and mobile connectivity. ZinCore batteries offer 10 times more power in the same volume than Imprint's previous ZincPoly battery, meeting 5G radio demands with extended temperature ranges.
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
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Major companies operating in the zinc market report are Glencore plc, BASF SE, Jiangxi Copper Corporation, Aluminum Corporation of China, Hechi Jinchuan Group Co. Ltd., Zijin Mining Group Co. Ltd., Tongling Nonferrous Metals Group Holding Co. Ltd., Vedanta Resources plc, Teck Resources Limited, DuPont de Nemours Inc., Boliden AB, Korea Zinc Company Ltd., Poland Copper Group, Hindustan Zinc Limited, Umicore SA, Kaz Minerals plc, Tronox Limited, Chihong Zinc & Cadmium Co. Ltd., Hudbay Minerals Inc., Ferro Corporation GmbH, Jinchuan Group, Fuzhou Xianglu Enterprise Group Co. Ltd., Shuangma Group, Dundee Precious Metals Inc., Yunnan Yunxi Zinc Industry Group Co. Ltd., MMG Limited, Tevali Mining, China Nonferrous Metal Corporation, Nyrstar NV, Hunan Nonferrous Metals Corporation, Newmont Corporation, Ivanhoe Mines Limited
Contents of the report:
1. Executive Summary
2. Zinc Market Report Structure
3. Zinc Market Trends And Strategies
4. Zinc Market - Macro Economic Scenario
5. Zinc Market Size And Growth
…..
27. Zinc Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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