Eastern Asia: Zinc Market 2024

Zinc Market Size in Eastern Asia

The East Asian zinc market reduced to $X in 2022, remaining stable against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.1% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Zinc Production in Eastern 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 +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.8% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 37%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Zinc Exports

Exports in Eastern Asia

In 2022, shipments abroad of zinc, unwrought (not alloyed) decreased by -31.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 17% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, zinc exports declined sharply to $X in 2022. The total export value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 21%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea represented the largest exporter of zinc, unwrought (not alloyed) in Eastern Asia, with the volume of exports recording X tons, which was near 58% of total exports in 2022. It was distantly followed by Japan (X tons), comprising a 34% share of total exports. The following exporters - Democratic People's Republic of Korea (X tons), Taiwan (Chinese) (X tons) and China (X tons) - together made up 7.5% of total exports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +11.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest zinc supplying countries in Eastern Asia were South Korea ($X), Japan ($X) and Democratic People's Republic of Korea ($X), together accounting for 96% of total exports. Taiwan (Chinese) and China lagged somewhat behind, together accounting for a further 2.8%.

Taiwan (Chinese), with a CAGR of +16.0%, recorded the highest growth rate of 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

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of 18% against the previous year. Export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% 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 +52.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by 37% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Democratic People's Republic of Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+11.5%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in Eastern Asia

In 2022, purchases abroad of zinc, unwrought (not alloyed) decreased by -44.4% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2017 when imports increased by 45% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, zinc imports contracted rapidly to $X in 2022. Overall, imports showed a deep reduction. The pace of growth was the most pronounced in 2017 when imports increased by 105% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) represented the largest importer of zinc, unwrought (not alloyed), comprising 58% of total imports. Taiwan (Chinese) (X tons) took a 32% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (4.6%). Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of -3.1%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Taiwan (Chinese) ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together comprising 92% of total imports. These countries were followed by Japan, which accounted for a further 6.8%.

Japan, with a CAGR of +2.5%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, waning by -23.5% against the previous year. Over the period under review, the import price, however, recorded a slight expansion. The pace of growth was the most pronounced in 2017 when the import price increased by 42%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a lower figure.

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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