Press release
Press Release: Zinc Market Expands Amid Growing Demand and Sustainability Efforts
Zinc Market
An important trend is the move toward more sustainable mining and processing practices. This shift is largely driven by heightened environmental awareness and stricter regulations. Companies are adopting cleaner extraction methods and focusing on recycling to reduce environmental impacts. Despite these efforts, the market faces challenges from environmental regulations that increase production costs, particularly in regions like the European Union and the United States.
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The zinc market is also influenced by geopolitical factors. Trade tensions and disruptions in the supply chain impact zinc prices and market dynamics. These factors, combined with strong industrial growth, contribute to the continued expansion of zinc usage.
Regionally, the Asia-Pacific region, particularly China, remains the largest producer of zinc, followed by Peru, Australia, and India. The region's industrial expansion, particularly in construction and automobiles, continues to drive global demand. Over the past two decades, zinc mining in Asia has tripled, stabilizing production at over 12 million tons annually.
Key Drivers of Zinc Market Growth
Construction Industry: The global demand for zinc is closely tied to the construction sector, which has seen consistent growth. Zinc-coated steel, known for its durability and corrosion resistance, is widely used in both construction and automotive industries. The U.S. and the European Union have reported continued growth in zinc consumption due to rising steel production, which drives the demand for zinc in these sectors.
Renewable Energy: The push for cleaner energy sources is further boosting zinc demand. Zinc is increasingly used in solar panels, wind turbines, and electric vehicle batteries, contributing to the expansion of the renewable energy and electric vehicle markets.
Challenges Facing the Zinc Market
Despite its growth, the zinc market is faced with environmental and regulatory challenges. The mining and refining of zinc contribute to environmental concerns such as air and water pollution, which has led to stricter regulations in many regions. For instance, the European Environment Agency and the U.S. Environmental Protection Agency enforce stringent standards on zinc production, increasing operational costs for producers. These regulations can restrict production flexibility and profitability, impacting market growth.
Zinc Market Segments
The zinc market can be divided by product form, with zinc powder and zinc sheets being the primary categories. The powder segment holds a significant share of the market, widely used in industries like manufacturing, chemicals, paints, coatings, and pharmaceuticals due to its versatility. Meanwhile, the zinc sheet segment is experiencing rapid growth, particularly in the construction industry, where it is used for galvanizing steel to protect it from corrosion.
Zinc-coated roofing and cladding, prized for their durability and corrosion resistance, are in high demand for residential, commercial, and industrial construction projects. Government initiatives promoting longer-lasting materials further support the growth of the zinc market.
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Zinc Market Top Companies and Competitive Landscape
Major competitors in the global zinc market employ crucial strategies like partnership deals, mergers and acquisitions, expansion deals, and huge investment rounds to expand their business operations.
The major market players are Korea Zinc Group (Korea), Nyrstar (Switzerland), Glencore Xstrata (Switzerland), Nexa Resources S.A.(Brazil), Boliden (Sweden), Shaanxi Nonferrous Metals (China), Teck (Canada), China Minmetals Corp (China), Old Bridge Chemicals(US), and Zochem, Inc.
In April 2023, EverZinc, a world zinc chemical manufacturer, announced the expansion of its production capacity by 15% annually to meet the future increased demand for zinc chemicals in diverse sectors.
Some of the key companies in the global Zinc Market include:
Korea Zinc Group (Korea)
Nyrstar (Switzerland)
Glencore Xstrata (Switzerland)
Nexa Resources S.A.(Brazil)
Boliden (Sweden)
Shaanxi Nonferrous Metals (China)
Teck (Canada)
China Minmetals Corp (China)
Old Bridge Chemicals(US)
Zochem, Inc
Zinc Market Latest Industry Updates
In January 2021, Nyrstar, a global leader in zinc production, announced a new initiative aiming for carbon neutrality across its zinc smelting operations by 2050. This project underscores Nyrstar's commitment to reducing environmental impact and aligns with global sustainability goals.
In September 2022, Agnico Eagle Mines reached an agreement to acquire a 50% stake in Minas de San Nicolás (MSN), a subsidiary of Teck Resources. This acquisition gives Agnico Eagle a substantial interest in the San Nicolás copper-zinc development project located in Zacatecas, Mexico, expanding its presence in the base metals sector.
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Zinc Market Segmentation Analysis
Form Outlook (Revenue, USD Million; 2020-2033)
Powder
Sheet
Application Outlook (Revenue, USD Million; 2020-2033)
Galvanizing
Die Casting
Others
End-use Industries Outlook (Revenue, USD Million; 2020-2033)
Construction
Transportation
Consumer Goods
Others
Regional Outlook (Revenue, USD Million; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Zinc Market Size@ https://www.emergenresearch.com/industry-report/zinc-market/market-size
Zinc Market Share@ https://www.emergenresearch.com/industry-report/zinc-market/market-share
Zinc Market Trends@ https://www.emergenresearch.com/industry-report/zinc-market/market-trends
Zinc Regional Market Demand@ https://www.emergenresearch.com/industry-report/zinc-market/regional-market-demand
Zinc Market Analysis@ https://www.emergenresearch.com/industry-report/zinc-market/market-analysi
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