Global Zinc Market 2024

Zinc Market Size

In 2021, the global zinc market increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Zinc Production

In value terms, zinc production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. Over the period under review, global production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Zinc Exports

Exports

In 2021, after two years of growth, there was decline in overseas shipments of zinc, when their volume decreased by -3.1% to X tons. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 11%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, zinc exports soared to $X in 2021. Overall, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 42% against the previous year. Over the period under review, the global exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from South Korea (X tons), the Netherlands (X tons), Canada (X tons), Belgium (X tons), Spain (X tons) and Australia (X tons), together accounting for 53% of total export. Kazakhstan (X tons) held the next position in the ranking, followed by Peru (X tons) and India (X tons). All these countries together took approx. 14% share of total exports. Finland (X tons), Norway (X tons), Burkina Faso (X tons) and Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Burkina Faso (with a CAGR of +46.9%), while the other global leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Canada ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 30% of global exports. These countries were followed by Belgium, Spain, Australia, India, Kazakhstan, Peru, Finland, Norway, Japan and Burkina Faso, which together accounted for a further 50%.

Among the main exporting countries, Burkina Faso, with a CAGR of +44.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, surging by 28% against the previous year. In general, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the average export price increased by 37%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+5.6%), while the other global leaders experienced more modest paces of growth.

Zinc Imports

Imports

In 2021, approx. X tons of zinc were imported worldwide; picking up by 2.2% compared with the previous year. The total import volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 6.2% against the previous year. Global imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, zinc imports skyrocketed to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 45%. Over the period under review, global imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of zinc, namely the United States, China, Germany, the Netherlands, Turkey, Belgium, Taiwan (Chinese), Italy, Vietnam, France, Thailand and India, represented more than two-thirds of total import. Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +19.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2021, together comprising 29% of global imports. Turkey, the Netherlands, Belgium, Taiwan (Chinese), Vietnam, Italy, France, Thailand, India and Indonesia lagged somewhat behind, together comprising a further 42%.

Thailand, with a CAGR of +23.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average zinc import price amounted to $X per ton, surging by 27% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the average import price increased by 38% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Vietnam ($X per ton), while the Netherlands ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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