Asia: Zinc Market 2024

Zinc Market Size in Asia

In 2022, the Asian zinc market decreased by -1.3% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Zinc Production in Asia

In value terms, zinc production amounted to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.8% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 37%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Zinc Exports

Exports in Asia

In 2022, shipments abroad of zinc, unwrought (not alloyed) decreased by -4.6% to X tons, falling for the second year in a row after two years of growth. In general, exports showed a pronounced downturn. The most prominent rate of growth was recorded in 2015 with an increase of 22%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, zinc exports rose notably to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +32.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 55% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, India (X tons), Kazakhstan (X tons) and South Korea (X tons) represented the key exporter of zinc, unwrought (not alloyed) in Asia, comprising 63% of total export. It was distantly followed by Japan (X tons), Iran (X tons) and Uzbekistan (X tons), together committing a 23% share of total exports. The following exporters - Turkey (X tons) and Malaysia (X tons) - each reached a 6.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +42.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest zinc supplying countries in Asia were India ($X), South Korea ($X) and Kazakhstan ($X), together accounting for 65% of total exports. Japan, Iran, Uzbekistan, Turkey and Malaysia lagged somewhat behind, together comprising a further 28%.

Among the main exporting countries, Turkey, with a CAGR of +49.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 18% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc export price increased by +53.1% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 40% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+6.4%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in Asia

In 2022, imports of zinc, unwrought (not alloyed) in Asia dropped remarkably to X tons, shrinking by -23.7% on the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 16%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, zinc imports dropped rapidly to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 63% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) and China (X tons) were the largest importers of zinc, unwrought (not alloyed) in Asia, together generating 40% of total imports. India (X tons) took the next position in the ranking, followed by Thailand (X tons), Taiwan (Chinese) (X tons), Singapore (X tons), Indonesia (X tons) and the United Arab Emirates (X tons). All these countries together held near 43% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Singapore (with a CAGR of +19.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported zinc, unwrought (not alloyed) in Asia, comprising 27% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by Thailand, with an 11% share.

In Turkey, zinc imports increased at an average annual rate of +10.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (+12.2% per year) and Thailand (+24.9% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by 7.3% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +36.2% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 40% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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