Global Zinc Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Overview and Scope
Zinc refers to the method used to remove zinc from the ground through mining in its mineral forms. A mine that primarily produces zinc minerals in ore is known as a zinc mine. Zinc ores frequently contain lead and silver minerals as co-products.

Sizing and Forecast
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  growth in the historic period can be attributed to rising galvanization in construction, rising automotive industry, batteries and alloys, healthcare and pharmaceuticals, metal coatings and protection.

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%.  The growth in the forecast period can be attributed to rising infrastructure and construction, renewable energy storage, electric vehicles (evs) and transportation, health and wellness trends, global economic recovery. Major trends in the forecast period include focus on zinc as a dietary supplement, market expansion in developing regions, zinc alloy applications in manufacturing, zinc recycling initiatives, zinc in health and wellness products.

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Segmentation & Regional Insights
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

Asia-Pacific was the largest region in the zinc market in 2023. 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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Major Driver Impacting Market Growth
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 Worldometer, 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.

Key Industry Players
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

The zinc market report table of contents includes:
1. Executive Summary
2. Zinc Market Characteristics
3. Zinc Product/Service Analysis -Product/Service Examples
4. Zinc Market Trends And Strategies
5. Zinc Market - Macro Economic Scenario
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68. Global Zinc Market Competitive Benchmarking
69. Global Zinc Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Zinc Market
71. Zinc Market Future Outlook and Potential Analysis
72. Appendix