Belgium: Zinc Market 2024

Zinc Market Size in Belgium

In 2022, after four years of decline, there was significant growth in the Belgian zinc market, when its value increased by 1,159% to $X. Over the period under review, consumption recorded prominent growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Zinc Production in Belgium

In value terms, zinc production skyrocketed to $X in 2022 estimated in export price. In general, production posted a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,629%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Zinc Exports

Exports from Belgium

In 2022, the amount of zinc, unwrought (not alloyed) exported from Belgium declined dramatically to X tons, which is down by -83.1% against the year before. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 925% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, zinc exports contracted markedly to $X in 2022. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2020 when exports increased by 816% against the previous year. The exports peaked at $X in 2021, and then declined notably in the following year.

Exports by Country

Italy (X tons), France (X tons) and Germany (X tons) were the main destinations of zinc exports from Belgium, together comprising 64% of total exports. The Netherlands, Austria, Egypt, Spain, Serbia, Algeria, Morocco, Poland and Tunisia lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of +213.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Germany ($X) constituted the largest markets for zinc exported from Belgium worldwide, together accounting for 64% of total exports. The Netherlands, Austria, Egypt, Spain, Serbia, Algeria, Poland, Morocco and Tunisia lagged somewhat behind, together comprising a further 25%.

Among the main countries of destination, Algeria, with a CAGR of +234.5%, 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

The average zinc export price stood at $X per ton in 2022, growing by 18% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.2% 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 +59.1% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 40% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Algeria ($X per ton) and Egypt ($X per ton), while the average price for exports to Tunisia ($X per ton) and Morocco ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Belgium

In 2022, supplies from abroad of zinc, unwrought (not alloyed) decreased by -58.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 when imports increased by 112%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, zinc imports fell rapidly to $X in 2022. In general, imports saw a pronounced slump. The pace of growth was the most pronounced in 2020 with an increase of 82% against the previous year. Imports peaked at $X in 2021, and then fell markedly in the following year.

Imports by Country

The Netherlands (X tons), Finland (X tons) and Germany (X tons) were the main suppliers of zinc imports to Belgium, together accounting for 60% of total imports. France, Spain, Mexico, India, Luxembourg and Peru lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +36.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest zinc suppliers to Belgium were the Netherlands ($X), Finland ($X) and Germany ($X), with a combined 60% share of total imports. Spain, France, Mexico, India, Peru and Luxembourg lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Spain, with a CAGR of +44.4%, saw the highest growth rate of 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

The average zinc import price stood at $X per ton in 2022, rising by 29% against the previous year. Overall, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.7% 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 +52.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 35%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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