Asia: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Asia

The Asian zinc ores and concentrates market surged to $X in 2021, with an increase of 32% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +79.0% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Zinc Ores And Concentrates in Asia

In value terms, zinc ores and concentrates production skyrocketed to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Zinc Ores And Concentrates

Exports in Asia

After two years of decline, shipments abroad of zinc ores and concentrates increased by 19% to X tons in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 24%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, zinc ores and concentrates exports soared to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the key exporting country with an export of about X tons, which finished at 56% of total exports. Kazakhstan (X tons) ranks second in terms of the total exports with a 20% share, followed by Tajikistan (10%). Saudi Arabia (X tons), Indonesia (X tons), Democratic People's Republic of Korea (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to zinc ores and concentrates exports from Turkey stood at +8.3%. At the same time, Indonesia (+41.5%), Tajikistan (+11.3%), Saudi Arabia (+8.6%) and Democratic People's Republic of Korea (+5.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +41.5% from 2012-2021. By contrast, Kazakhstan (-6.5%) and South Korea (-8.3%) illustrated a downward trend over the same period. Turkey (+27 p.p.), Tajikistan (+6.1 p.p.), Indonesia (+1.9 p.p.) and Saudi Arabia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Kazakhstan saw its share reduced by -2% and -19% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest zinc ores and concentrates supplying countries in Asia were Turkey ($X), Kazakhstan ($X) and Tajikistan ($X), with a combined 80% share of total exports. These countries were followed by Saudi Arabia, Democratic People's Republic of Korea, South Korea and Indonesia, which together accounted for a further 15%.

Indonesia, with a CAGR of +53.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, with an increase of 34% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Democratic People's Republic of Korea ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+20.5%), while the other leaders experienced more modest paces of growth.

Imports of Zinc Ores And Concentrates

Imports in Asia

In 2021, approx. X tons of zinc ores and concentrates were imported in Asia; surging by 3% against the previous year's figure. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 21% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, zinc ores and concentrates imports soared to $X in 2021. In general, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 62%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) represented the largest importer of zinc ores and concentrates, creating 50% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 25% share, followed by Japan (12%) and Iran (6.8%). Kazakhstan (X tons) and Uzbekistan (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Iran (+73.6%), Kazakhstan (+30.6%) and Uzbekistan (+6.9%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in Asia, with a CAGR of +73.6% from 2012-2021. South Korea and Japan experienced a relatively flat trend pattern. From 2012 to 2021, the share of China, Iran, Kazakhstan and Uzbekistan increased by +12, +6.7, +3 and +2 percentage points, respectively.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, together comprising 94% of total imports. Kazakhstan, Uzbekistan and Iran lagged somewhat behind, together accounting for a further 6.2%.

In terms of the main importing countries, Iran, with a CAGR of +55.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 53% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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