LONDON--(BUSINESS WIRE)--Technavio has announced the release of their research report on the global zinc market for the forecast period 2019-2023. This global zinc market analysis report segments the market by application (galvanizing, die casting, brass and bronze, and others), end-users (construction, transportation, consumer goods, and others) and geography (APAC, Europe, MEA, North America, and South America).
Global zinc market size will grow by almost 988.13 thousand tonnes during 2019-2023, at a CAGR of over 1%. Researchers are developing zinc-based batteries to overcome overheating and explosion problems as in the case of lithium-ion batteries. The growth in adoption of smartphones, electric vehicles (EVs), mild hybrid engines, and power grid storages will further increase the demand for zinc. Zinc is used as an anode in cathode protection that is used to prevent corrosion on metal surfaces. This is used in various industries such as oil and gas, marine, and power. The growing demand for zinc from such niche applications is expected to fuel the growth of the global zinc market over the forecast period.
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Rising demand for galvanized steel
There is a significant rise in the demand for galvanized steel in construction, automobile, and other industrial applications. The high durability and strength of galvanized steel make it suitable for these applications. The use of galvanized steel along with high-speed concrete ensure faster construction and reduced construction costs. Galvanized steel is used in manufacturing automobile components such as exterior body panels as they provide an ultra-smooth surface finish. With the increasing need for galvanized steel, the demand for zinc will increase considerably, driving global zinc market growth.
“The APAC region will register a faster growth rate during 2019-2023. The growth of end-user industries such as construction, automotive, and consumer goods in the region will have a positive impact on the zinc market in the region. APAC currently holds the largest share in automotive production and is expected to continue its dominance over the forecast period. In Europe, the increase in the production of passenger vehicles is driving the demand for zinc. Renovation and modernization of buildings in the region will also drive zinc market growth”, says an analyst at Technavio.
Many leading automobile manufacturers are expanding their production capacities which will positively impact the global zinc market. For instance, Mercedes-Benz recently began the construction of a new modern production plant in Germany. Additionally, the use of alloy die casts in automotive components is on the rise and automobile manufacturers such as Ford Motor Company, Chrysler, General Motors, and Tesla use zinc alloy die casts because of their durability and enhanced aesthetic appearance.
View snapshot of the report for a more detailed overview of the market and the segmentation covered in this report
This global zinc market industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several zinc manufacturers including -
- Glencore
- Hindustan Zinc
- Korea Zinc Co., Ltd.
- Nyrstar
- Teck Resources Limited
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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