Press release
Comprehensive Zinc Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Zinc
How Large Will the Zinc Market Size By 2025?
In the past few years, the size of the zinc market has seen substantial growth. It is expected to increase from $28.82 billion in 2024 to $31.15 billion by 2025, with a compound annual growth rate (CAGR) of 8.1%. Major contributing factors to the iterative growth in the previous period include higher rates of galvanization in construction, growing automotive sector, increasing demand in batteries and alloys, and the robust healthcare and pharmaceutical industry. Additionally, metal coatings and protection also play a significant role.
How Big Is the Zinc Market Size Expected to Grow by 2029?
The size of the zinc market is projected to witness robust growth in the coming years, increasing to $41.76 billion by 2029 with a 7.6% compound annual growth rate (CAGR). This expected growth is due to factors such as the upward trend in infrastructure and construction, renewable energy storage, electric vehicles (EVs), transportation, health and wellness trends, and global economic recovery in the projection period. Key trends impacting this time frame involve the emphasis on zinc as a dietary supplement*, market growth in emerging regions, the use of zinc alloys in manufacturing, initiatives for zinc recycling, and the use of zinc in health and wellness products.
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Which Key Market Drivers Powering Zinc Market Expansion and Growth?
The zinc market's expansion can be attributed to the growing heavy industries in developing nations like China and Peru due to the increasing population and infrastructure development. When referring to the population, it signifies the total number of individuals or residents in a specific country or region. The principal application of zinc lies in the galvanising process, which safeguards iron and steel from rusting. For example, in June 2022, Worldometer, a reference website based in the US, which offers counters and real-time data on a variety of topics, reported that China's current population stands at 1,450,341,718. As such, the escalating population is a key driver behind the burgeoning zinc market.
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Which Fast-Growing Trends Are Poised to Disrupt the Zinc Market?
Key players in the zinc market are shifting their attention to the creation of novel approaches, such as the use of zinc-based battery technology. This involves the creation and application of batteries that use zinc as a crucial element in their structure and electrochemical reactions. For instance, Imprint Energy Inc, a US company specializing in zinc-battery production, introduced the 'ZinCore' zinc-based battery technology in January 2022. ZinCore battery technology improves portable power potential, igniting new prospects in advanced IoT product creation and mobile connectivity. ZinCore batteries provide ten times the power of Imprint's preceding ZincPoly battery in the same volume, suitably meeting the demands of 5G radios with expanded temperature ranges.
What Are the Emerging Segments in the Zinc Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Zinc Industry?
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.
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