Press release
Zinc Market Set to Reach $41.76 Billion by 2029 with 7.6% Yearly Growth
Zinc
The escalation in the zinc market can be accredited to the expansion of various heavy-duty industries in developing nations like China and Peru. This expansion is a direct result of upsurging population figures and infrastructural development in these countries. The term 'population' defines the total count of individuals residing in a certain area or country. The most extensive application of zinc is observed in the process of galvanization, which prevents iron and steel from succumbing to rust. For example, in June 2022, data from Worldometer, a US-based website providing various real-time statistics, stated that China's population stands at 1,450,341,718. Consequently, the population surge is a key driving force behind the thriving zinc market.
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What growth opportunities are expected to drive the zinc market's CAGR through 2034?
The size of the zinc market has seen robust growth in the past few years. It is projected to expand from $28.82 billion in 2024 to $31.15 billion in 2025, with a compound annual growth rate (CAGR) of 8.1%. The historical growth can be credited to the increase in galvanization in the construction sector, the ascent of the automotive industry, applications in batteries and alloys, as well as uses in healthcare, pharmaceuticals, and the field of metal coatings and protection.
The dimensions of the zinc market are predicted to exhibit vigorous expansion over the next few years. The market is slated to reach $41.76 billion by 2029, growing at a compounded annual growth rate (CAGR) of 7.6%. The acceleration within the forecasted timeframe would be due to factors such as escalations in infrastructure and construction, renewable energy storage, electrified transportation including electric vehicles (EVs), health and wellness trends, and a rebound in the global economy. Key trends for this period involve zinc's incorporation as a nutritional supplement, market proliferation into emerging regions, utilization of zinc alloys in manufacturing processes, zinc recycling efforts, and the use of zinc in health and well-being products.
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What are the emerging trends shaping the future of the zinc market?
Key players in the zinc market, such as Imprint Energy Inc., are turning their efforts towards the creation of innovative solutions like zinc-based battery technology. This kind of technology involves using zinc as a critical element in the making and electrochemical reactions of batteries. For example, Imprint Energy Inc., a US company specializing in zinc-battery manufacturing, unveiled its 'ZinCore' zinc-based battery technology in January 2022. This innovation increases portable power capabilities and paves the way for revolutionary designs in IoT products and mobile connectivity spheres. With ten times the power of Imprint's earlier ZincPoly battery, enclosed in the same volume, ZinCore batteries meet the requirements of 5G radios while accommodating wider temperature ranges.
Which growth-oriented segments of the zinc market are leading the industry's development?
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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Which region dominates 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.
What companies are at the forefront of innovation 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
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What Is Covered In The Zinc Global Market Report?
•Market Size Forecast: Examine the zinc market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the zinc market for a structured understanding.
•Key Players Overview: Analyze major players in the zinc market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the zinc market.
•Segment Contributions: Evaluate how different segments drive overall growth in the zinc market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the zinc market.
•Industry Challenges: Identify potential risks and obstacles affecting the zinc market.
•Competitive Landscape: Review strategic developments in the zinc market, including expansions, agreements, and new product launches.
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