Zinc Market Size (2024 - 2029)

The zinc market is projected to experience growth over the forecast period, driven by increased demand from the construction, electronics, and automotive industries. Despite disruptions caused by the COVID-19 pandemic, which led to supply reductions and demand declines, the market has shown resilience and recovery. Environmental regulations and competition from other metals pose challenges to market expansion, but opportunities for growth exist through the rising demand for zinc-based batteries and urbanization. The Asia-Pacific region, particularly countries like China, India, and Japan, leads in market consumption.

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Market Size of Zinc Industry

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Zinc Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 1.50 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Zinc Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Zinc Market Analysis

The Zinc Market size is estimated at 13.58 Million tons in 2024, and is expected to reach 14.68 Million tons by 2029, growing at a CAGR of greater than 1.5% during the forecast period (2024-2029).

The COVID-19 pandemic disrupted the global zinc market, resulting in a reduction in supply due to mine closures and transportation restrictions, as well as a decline in demand from various sectors. This resulted in price fluctuations for zinc. Nonetheless, the market rebounded in 2021 due to an increase in demand from the construction and electronics industries.

Demand from the electronics and construction industries and increasing usage in the automotive industry drive the zinc market in the short term.

Environmental regulations and competition from other metals, however, might limit market expansion in the future.

Growing demand for zinc in Zinc-based batteries and rising urbanization and industrialization are expected to provide opportunities for future market growth.

Asia-Pacific dominated the market worldwide, with the most significant consumption coming from countries such as China, India, and Japan.

Zinc Industry Segmentation

Zinc is a bluish-white metal that is brittle at room temperature but becomes malleable when heated. Zinc is found in nature as a mineral in the Earth's crust, and it is commonly used as a coating for iron and steel to protect against corrosion.

The zinc market is segmented by application, end-user industry, and geography (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). By application, the market is segmented into galvanizing, die casting, brass, oxide & chemicals, and other applications. By end-user industry, the market is segmented into construction, transportation, consumer goods, electrical and electronics, and other end-user industries. The report also covers the market size and forecasts for the zinc market in 28 countries across major regions.

For each segment, market sizing and forecasts have been done on the basis of volume (tons).

Application
Galvanizing
Die casting
Brass
Oxide & chemicals
Other Applications
End-user Industry
Construction
Transportation
Consumer Goods
Electrical and Electronics
Other End-user Industries
Geography
Asia-Pacific
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
France
Germany
Italy
NORDIC
Russia
Spain
Turkey
United Kingdom
Rest of the Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle-East and Africa
Egypt
Nigeria
Qatar
Saudi Arabia
South Africa
UAE
Rest of Middle-East and Africa
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Zinc Market Size Summary

The zinc market is poised for moderate growth over the forecast period, driven by increasing demand from the construction, electronics, and automotive industries. The market experienced disruptions due to the COVID-19 pandemic, which led to supply chain challenges and fluctuating prices. However, it rebounded as demand surged, particularly in the construction and electronics sectors. Zinc's properties, such as durability and corrosion resistance, make it a preferred material in construction applications, including roofing and structural elements. The North American construction industry, bolstered by population growth and increased spending, plays a significant role in the regional market. Meanwhile, the Asia-Pacific region, with its robust construction and electronics sectors, is expected to dominate the global zinc market.

Zinc's versatility extends to the electronics industry, where it is valued for its electrical conductivity and cost-effectiveness. The region's dynamic construction industry, accounting for a substantial portion of global output, further supports market growth. Major players in the zinc market, such as Glencore and Nyrstar, continue to influence the market landscape through strategic investments and acquisitions. Despite potential challenges from environmental regulations and competition with other metals, the market is expected to benefit from opportunities in zinc-based batteries and the ongoing trends of urbanization and industrialization.

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Zinc Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand From the Construction and Electronics Industry

      2. 1.1.2 Increasing Usage in the Automotive Industry

    2. 1.2 Restraints

      1. 1.2.1 Stringent Environmental Regulations

      2. 1.2.2 Presence of Substitute Metals

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Galvanizing

      2. 2.1.2 Die casting

      3. 2.1.3 Brass

      4. 2.1.4 Oxide & chemicals

      5. 2.1.5 Other Applications

    2. 2.2 End-user Industry

      1. 2.2.1 Construction

      2. 2.2.2 Transportation

      3. 2.2.3 Consumer Goods

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Indonesia

        4. 2.3.1.4 Japan

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 South Korea

        7. 2.3.1.7 Thailand

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 France

        2. 2.3.3.2 Germany

        3. 2.3.3.3 Italy

        4. 2.3.3.4 NORDIC

        5. 2.3.3.5 Russia

        6. 2.3.3.6 Spain

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 United Kingdom

        9. 2.3.3.9 Rest of the Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Egypt

        2. 2.3.5.2 Nigeria

        3. 2.3.5.3 Qatar

        4. 2.3.5.4 Saudi Arabia

        5. 2.3.5.5 South Africa

        6. 2.3.5.6 UAE

        7. 2.3.5.7 Rest of Middle-East and Africa

Zinc Market Size FAQs

The Zinc Market size is expected to reach 13.58 million tons in 2024 and grow at a CAGR of greater than 1.5% to reach 14.68 million tons by 2029.

In 2024, the Zinc Market size is expected to reach 13.58 million tons.

Zinc Market Report Snapshots

Zinc Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)