Southern Asia: Zinc Market 2024

Zinc Market Size in Southern Asia

The South Asian zinc market dropped significantly to $X in 2022, falling by -20.5% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 Southern Asia

In value terms, zinc production reduced to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +2.1% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 160% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Zinc Exports

Exports in Southern Asia

Zinc exports soared to X tons in 2022, increasing by 34% against 2021 figures. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% 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 +81.8% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 78% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, zinc exports surged to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 113%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

The shipments of the one major exporters of zinc, unwrought (not alloyed), namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the zinc, unwrought (not alloyed) exports, with a CAGR of +5.0% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest zinc supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +10.5%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 20% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.2% 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 +64.3% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 37%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +5.2% per year.

Zinc Imports

Imports in Southern Asia

In 2022, the amount of zinc, unwrought (not alloyed) imported in Southern Asia contracted to X tons, waning by -8.8% on the previous year's figure. Total imports indicated temperate growth from 2012 to 2022: its volume 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, imports decreased by -40.8% against 2016 indices. The pace of growth was the most pronounced in 2016 when imports increased by 65% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, zinc imports expanded notably to $X in 2022. Overall, imports, however, saw a buoyant increase. The pace of growth was the most pronounced in 2016 when imports increased by 56%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

India was the major importer of zinc, unwrought (not alloyed) in Southern Asia, with the volume of imports resulting at X tons, which was approx. 73% of total imports in 2022. Bangladesh (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Afghanistan (6.7%) and Nepal (4.7%). Pakistan (X tons) took a minor share of total imports.

Imports into India increased at an average annual rate of +6.3% from 2012 to 2022. At the same time, Afghanistan (+31.9%) and Pakistan (+5.5%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +31.9% from 2012-2022. Nepal experienced a relatively flat trend pattern. By contrast, Bangladesh (-6.9%) illustrated a downward trend over the same period. While the share of India (+18 p.p.) and Afghanistan (+6.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nepal (-1.8 p.p.) and Bangladesh (-21.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported zinc, unwrought (not alloyed) in Southern Asia, comprising 74% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 12% share of total imports. It was followed by Nepal, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value in India stood at +12.2%. In the other countries, the average annual rates were as follows: Bangladesh (-1.8% per year) and Nepal (+6.8% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of 19% against the previous year. Import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.3% 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 +46.7% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the import price increased by 37% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nepal ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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