H2 2023: In the second half of 2023, the Zinc Ingot market in the Asia Pacific region faced mixed prices. In the third quarter of 2023, the zinc ingot prices in South Korea remained stable, mainly due to reduced local and foreign demand which was influenced by economic factors such as inflation. The downstream industries saw a decreased consumption, and electric vehicle sales faced strong competition from both Tesla and Chinese alternatives. Additionally, foreign market participants, particularly those from the United States and the Europe, witnessed a drop in purchasing activity. This situation led major market players to adopt a cautious stance. Nevertheless, optimism prevailed among galvanizing plants driven by increased steel prices and enhanced production of galvanized pipes. Demand for zinc ingots in the downstream galvanizing sector continued to climb, resulting in heightened short-term price demands from steel mills and traders. In August 2023, zinc ingot prices experienced an upswing. In the last three months of 2023, the Japanese zinc ingot prices displayed an overall bullish trend, influenced by robust downstream demand and global macroeconomic uncertainties. Initially, in October 2023, zinc ingot prices dipped due to an oversupply situation worldwide, driven by heightened extraction rates at mills. Despite this, the Japanese economy maintained its stability amidst a global inflationary surge, attributed partly to utility companies securing long-term supply contracts, thus stabilizing energy. Demand for zinc ingot from the downstream sectors remained strong, contributing to overall price stability, with zinc-based batteries emerging as potential alternatives to lithium-ion batteries amid ongoing technological advancements. Additionally, concerns over trade disruptions, particularly through the Panama Canal and Red Sea route, raised fears of supply shortages in Japan.
H1 2023: In the first half of 2023, the Zinc Ingot market in the Asia Pacific region faced mixed prices. In the first quarter of 2023, Zinc Ingot prices experienced an inflationary trend in the Chinese market, driven by heightened demand from the downstream galvanizing industry. However, the Chinese New Year Holidays in January led to a decrease in market inquiries from downstream players. Subsequently, in February, Zinc prices declined, prompting some downstream enterprises to make purchases March saw additional challenges as turmoil in the banking sector heightened risks of bank failures and economic slowdown. Spot supply constraints persisted in the market, influencing traders to favor purchasing on price rises rather than dips. Falling ferrous metal prices further impacted new orders for galvanized plates/sheets and structures. Despite these challenges, market players anticipated resilient consumption in the ongoing peak season. In the second quarter of 2023, Zinc Ingot prices followed a descending trajectory in the Asia Pacific region. The supply of feedstock raw material surged with increased mining activity in overseas nations like Australia and Peru. The downturn in the global economic condition impacted the downstream construction sector, leading to reduced usage of Galvanized sheets and a subsequent decline in Zinc Ingot demand and prices. The economic uncertainties prompted buyers to refrain from placing large orders and created a pessimistic market sentiment.
The global Zinc Ingot market stood at approximately 11.55 million tonnes in 2023 and is anticipated to grow at a CAGR of 2.9% during the forecast period until 2034. Zinc ingots, refined manifestations of zinc metal, serve multifaceted roles across industries owing to their distinctive properties.
Foremost among these applications is galvanization, where zinc ingots are employed to coat steel, forming a protective layer that shields against corrosion. Beyond this, zinc finds prominence in alloy production, contributing to the formulation of materials such as brass and other die-casting alloys. In the realm of energy, zinc ingots play a pivotal role in batteries, acting as anode materials in zinc-carbon and alkaline batteries, driving electrochemical reactions for power generation. Furthermore, zinc-based coatings, including paints and protective layers, prove instrumental in safeguarding metal surfaces from corrosion, especially in demanding industrial and marine environments. In agriculture, zinc ingots address nutrient deficiencies in soils, fostering robust plant growth. The automotive sector relies on zinc for die-cast components and anti-corrosion coatings on automotive parts. Additionally, zinc oxide derived from zinc finds application in sunscreens, providing effective UV protection. The adaptability and anti-corrosive attributes of zinc ingots underscore their indispensability, contributing significantly to technological advancements, infrastructure, and an array of everyday products across global industries.
The market growth parameters for zinc-based products are notably driven by key applications in diverse industries. Galvanizing, a process essential for enhancing the corrosion resistance of steel products, is experiencing heightened demand as sectors like construction, automotive, and household appliances expand. The market for galvanized steel encompasses a wide range of applications, from steel furniture and buildings to automobiles and household appliances, reflecting a robust growth trajectory. Similarly, the market for zinc oxide is on an upward trajectory due to its pivotal role in vulcanization processes for products such as paint, ceramics, and rubber. As industries like construction, manufacturing, and consumer goods continue to thrive, the demand for zinc oxide is set to increase, driving growth in this segment. Furthermore, the market for zinc die cast alloys is flourishing, propelled by their utilization in electronic components, hardware fittings, and electrical equipment. With the ongoing advancements in the electronics industry and the rising consumer appetite for innovative electronic devices, the zinc die castings market is poised for expansion. Additionally, the market for zinc and copper alloys, specifically brass, is witnessing growth. The combination of zinc and copper in brass finds applications across various industries, including manufacturing, construction, and plumbing. As these industries grow globally, the demand for brass alloys is expected to rise, contributing to the overall market growth for zinc and copper alloys. Collectively, these market growth parameters underscore the versatility and indispensability of zinc-based products, reflecting the integral role they play in the advancement and sustainability of key industries worldwide. Its market size is likely to expand in the coming years and is anticipated to reach roughly 15.8 million tonnes by 2034.
Based on region, Asia Pacific region is the largest consumer of Zinc Ingot. This prominence is underscored by the region's robust industrial activities, particularly in construction, manufacturing, and automotive sectors. The rising demand for galvanized steel, a key application of zinc ingot in corrosion-resistant coatings, alligned with the region's expanding infrastructure projects and thriving construction endeavours is the major driving factor for market expansion. Moreover, the expanding electronic and electrical industries further contribute to the substantial consumption of zinc alloys and die-cast components, consolidating the region's leadership in zinc ingot utilization. As economic development continues to drive these key sectors, the Asia Pacific region remains a focal point for zinc ingot market dynamics, reflecting a sustained consumption for Zinc Ingot.
Based on the end-user industry, the global Zinc Ingot market is segmented into Galvanizing, Zinc Die Casting Alloys, Chemical, Brass Semi & Casting, and Others. Among these, Galvanizing industry dominates the global Zinc Ingot market.
Major players in the Global Zinc Ingot market are Pushpa International, RotoMetals, Hindustan Zinc, Industrial Metal Supply Company, Nyrstar, Advameg Inc., Phoenix Industries Ltd., Siyaram Impex Pvt. Ltd., Shree Metal Industries, S. C. Kundu & Sons, Focus Technology Co., Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Zinc Ingot which covers production, demand and supply of Zinc Ingot market in the globe.
• To analyse and forecast the market size of Zinc Ingot
• To classify and forecast Global Zinc Ingot market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Zinc Ingot market in the globe.
To extract data for Global Zinc Ingot market, primary research surveys were conducted with Zinc Ingot manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Zinc Ingot market over the coming years.
ChemAnalyst calculated Zinc Ingot demand across the globe by analyzing the volume of Zinc Ingot consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Zinc Ingot manufacturers and other stakeholders
• Organizations, forums and alliances related to Zinc Ingot distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Zinc Ingot manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Zinc Ingot market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
11.55 million tonnes
Market size Volume in 2034
15.8 million tonnes
Growth Rate
CAGR of 2.9% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Galvanizing, Zinc Die Casting Alloys, Chemical, Brass Semi & Casting, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Zinc Ingot market in terms of value and volume.
2. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Galvanizing, Zinc Die Casting Alloys, Chemical, Brass Semi & Casting, and Others) are creating a market and the forecast for the growth of the Zinc Ingot market.
3. Demand by Region
Analyzing the change in demand of Zinc Ingot in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
4. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Zinc Ingot. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
5. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Zinc Ingot.
6. Company Share
Figure out what proportion of the market share of Zinc Ingot is currently held by leading players across the globe.
7. Manufacturing Process
Discover insights into the intricate manufacturing process of Zinc Ingot.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Zinc Ingot in terms of volume in 2023?
Ans:
The global market size of Zinc Ingot had reached approximately 11.55 million tonnes in 2023.
Q2.
Which region is the major consumer of Zinc Ingot?
Ans:
Asia Pacific region is the leading consumer of Zinc Ingot globally.
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