LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global zinc market is projected to grow to 19.68 million metric tons by 2021, at a CAGR of close to 4% over the forecast period.
This research report titled ‘Global Zinc Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Zinc is a non-ferrous metal that is silvery white in color with a blue tinge. It is the fourth most common metal found in the Earth’s crust and is mainly used for galvanizing. The global zinc market is expected to be driven by the robust growth in zinc-intensive infrastructure from emerging markets.|
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Based on application, the report categorizes the global zinc market into the following segments:
- Galvanizing applications
- Alloys and casting applications
- Brass and bronze applications
- Other applications
The top three revenue-generating application segments in the global zinc market are discussed below:
“Galvanizing is the largest application segment of the global zinc market, generating more than 48% of the overall revenue. The major offerings of the segment include galvanized painted GP and galvanized coated GC steel products, galvanized structural steel products, both light and heavy, and galvanized steel wires,” says Ajay Adikari, a lead analyst at Technavio for metals and minerals research.
The increasing demand for galvanized products will lead to a rise in the demand for high-grade (HG) zinc and special high-grade zinc (SHG) for semi-finished casting products such as ingots. Galvanization contributes to more than 50% of the zinc demand from countries in South Asia, the Middle East, and Africa.
Alloys and casting applications
The global zinc market by alloys and casting applications accounted for 24.8% of the overall market in 2016. Zinc alloys are broadly classified into zinc casting alloys and wrought zinc alloys. Zincal is the most popular alloy, followed by brass, bronze, ZAMAK, solder alloy, superloy, etc. Zinc alloys are majorly utilized in the manufacture and casting of utensils. They are also used for architectural applications such as roofing needs and wall pitches. The US is the largest contributor to the alloys and casting market segment, followed by Europe, Thailand, Taiwan, Turkey, and Mexico.
Brass and bronze applications
Brass is an alloy of zinc and copper with varying properties depending on the proportion of zinc and copper; and is used in applications like decoration due to its gold-like appearance, low friction applications, plumbing and electrical applications, music instruments; zippers; coins; and mirrors. Bronze is formed mainly from copper and tin along with other metals like zinc and aluminum.
“The use of these alloys for casting, wires, and sheets generate significant revenue to the global zinc market. They are primarily used in the automotive and construction industries. About 60% to 70% of the demand for zinc from the alloy casting industry is met by scrap in Southeast Asia,” says Ajay.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Hindustan Zinc
- Teck Resources
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