Zinc Market Size In-Depth Research on Market Size Dynamics, & Emerging Growth Factors 2030

Zinc is a metal highly used by all end-use industries. It is extracted via carbon reduction of zinc blende (ZnS) in blast furnaces. The corrosion-resistant properties of the metal make it valuable for steel and iron industries for coating of their products. The report on the global Zinc Market by Market Research Future (MRFR) outlines drivers, restraints, opportunities, and threats as well as measures taken by industry participants in staying afloat in the dynamic market.

Market Outlook

The global Zinc Market Size is predicted to exhibit a 4.50% CAGR from 2023 to 2030 (forecast period) to touch a size of USD 1,012.23 million. It can accumulate a volume of 1.01 million tons by 2027. The aerospace sector has commanded a high demand for zinc for its anti-corrosive parts. Expansion of fleets as well as replacement of legacy aircraft can act as a plus for the market. According to the Society of Japanese Aerospace Companies (SJAC), aircraft worth USD 19 billion were procured by the Japanese government in 2018.

The building & construction sector accounted for nearly 50% steel production, as per the World Steel Association. The migration to cities by the populace as well as the construction of residential and commercial buildings can induce the demand in the global zinc market. Moreover, anti-dumping taxes levied on countries with high production rates of zinc can bode well for the global market growth.

But the glut of zinc production may hamper its growth.

Regional Analysis

Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA) are regions are analyzed for the compilation of the global zinc market report.

The APAC regional demand for zinc is mainly driven by automotive and construction sectors. Strong economic growth, as well as the setup of automotive hubs in Japan, China, and India can trigger the demand for zinc in the region. Increased application of zinc-coated alloys can facilitate the global zinc market growth. Moreover, the proposal of anti-dumping fines on imports from China, Korea, and Vietnam by the Indian government to ensure the domestic production is at an all-time high may be a tipping point in the coming years.

The European region can register a remarkable growth rate due to the use of the metal in automotive and consumer electronic products. Exports of aircraft components to the U.K. is likely to bode well for the global zinc market. The proposal by governments in the European region to strengthen their military defenses can augur favorably for the market.

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Competitive Analysis

Leading producers in the global zinc market include Korea Zinc Group, Nyrstar, Glencore Xstrata, Nexa Resources S.A., Boliden, Shaanxi Nonferrous Metals, Teck, China Minmetals Corp, Old Bridge Chemicals, and Zochem, Inc. These players are focused on acquiring licenses on mines in order to resume production. This will ensure a constant supply of zinc to end-users without any drawbacks.

Segmentation Analysis

The global Zinc Market Technological Assessment is segmented by form, application, and end-use industries.

By form, it is segmented into sheet and powder. The powder segment can register an uptick in demand over the forecast period due to the application of the metal in steel coatings.

By application, it is segmented into die casting, galvanizing, and others. The galvanizing segment may accrue significant revenue for the market due to corrosion resistant properties of zinc. The use of zinc coatings for ensuring the strength of steel and metal structures and keeping overhead costs at a minimum can bolster the application growth. In 2018, ThyssenKrupp decided to launch a new galvanizing line for premium coated products.

By end-use industries, it is segmented into consumer goods, transportation, construction, and others.

Industry News

Recently, Force Commodities Ltd., an Australian company, has signed an agreement with the Malawi government for extraction of zinc in the country. It has also acquired a stake in Switzerland company, TerraCare AG, which had a partnership with the indigenous mining company of the country, Galena Mining Ltd.

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Polyolefin Elastomers Market Report with Detailed Analysis and Forecast to 2030

Polyolefins are macromolecules, a class of polymers, which is produced from olefins. Polyolefin elastomers (POE) are comparatively new class of polymers with latest developments in metallocene polymerization catalysts. These polymers boast excellent properties, such as low to extremely high molecular weight, amorphous to crystalline, UV resistance, superior elasticity, toughness, impressive thermal stability, and low-temperature ductility. The global Polyolefin Elastomers Market is expected to exhibit high compound annual growth rate during the forecast period due to various factors identified by Market Research Future (MRFR).

Over the years, the applications of POE have increased multifold, from molded rubber goods, adhesives, pipes, footwear foams, packaging, cables, and wires. This increasing application of polyolefin elastomers is expected to act as a major driver to the growth of the global market. Furthermore, the introduction of technologically advanced products like Dow’s INSITE CGC and Exxpol is also believed to push the market growth of polyolefin elastomers and ensure the emergence of new players. Also, the proliferation of the automotive industry is further anticipated to aid the market growth during the forecast period. However, on the flip side, the fluctuating price of crude oil and the expensive pricing of raw materials are expected to cause hindrance to the overall growth of the market in the coming years.

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Market Segmentation

The global polyolefin elastomers market segmentation is based on the following dynamics: manufacturing method, type, end-user industry, and application.

By manufacturing method, the market is segmented into blow molding, extrusion molding, injection molding, cast and blown film extrusion, and foam and calendering.

By type, the market is classified into polypropylene, polyethylene, and ethylene propylene diene monomer.

By application, the market segments into medical equipment, adhesives, automotive interiors, films, molded rubber goods, wires & cables, and others.

By end-user industries, the market divides into electrical and electronics, automotive, consumer goods, packaging, and others.

Regional Analysis

The global polyolefin elastomers market is geographically segmented into the following regions: Latin America, Asia Pacific, Europe. North America, and the Middle East & Africa.

Asia Pacific is identified as the leading region in the global Polyolefin Elastomers Market Competitive Analysis Report in terms of share portion. This dominant positioning of the market is due to the growing demand for molded products in automobiles, packaging, and toys. China holds the highest vehicle production value as per the 2017 survey conducted by the OICA with a staggering 29 million units to its name. Some of the other major contributory regions aiding the growth of the polyolefin elastomers market in Asia Pacific are India, South Korea, Japan, and Thailand.

The North American market stands second in the global rankings is expected to experience significant growth during the assessment period owing to the increasing demand for the product in the US automotive sector. The demand of polyolefin elastomers in North American region is also stimulated by its usage as wires and cables in the electrical and electronics industry.

The Latin American region is spearheaded by Brazil and Argentina due to the high demand it garners for medical and packaging applications. The regional market is also influenced positively by the increasing usage of the product in instrument panels, bumpers, and trims in the automotive industry. The European region is anticipated to be a highly lucrative market for polyolefin elastomers owing to the expanding use of the same in the footwear and packaging industries. The primary contributors driving the growth of the market in this region are countries like the UK, France, Germany, and Italy.

The Middle Eastern and African region is reported to achieve the least share in the global forecast. This is due to the saturation of the market in end-user applications. The region is spearheaded by South Africa and Saudi Arabia due to the increasing demand therein from the automotive and packaging industries.

Competitive Landscape

Exxon Mobil Corporation (US), the Dow Chemical Company (US), DowDuPont (US), LG Chem (South Korea), RTP Company (US), Mitsui Chemicals, Inc. (Japan), Polmann India Ltd (India), LyondellBasell Industries Holdings BV (Netherlands), Mitsubishi Chemical Holding Corporation (Japan), SABIC (Saudi Arabia), PolyOne Corporation (United States), and others are some of the leading players in the polyolefin elastomers market.

Oct 9th 2018, RenewSys, an Indian-based specialist in PV module and materials, became the first company from India to attain the UL approval for commercializing its Polyolefin Elastomeric encapsulant, named CONSERV E 360 (POE).