Global Zinc Ingots Market Report and Forecast 2024-2032

Global Zinc Ingots Market Outlook

The global zinc ingots market is expected to grow at a CAGR of 1.20% during the forecast period of 2024-2032. The growth of the market is likely to be aided by the increasing demand for zinc in the galvanization process.

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Global Zinc Ingots Market Trends

Zinc is a brittle but malleable, blue-grey metallic element. It becomes malleable at 100° C.  Zinc ingots are made in foundries from zinc ores. Zinc ingots are made by melting cathode zinc in a furnace, and later the molten zinc is made into blocks and ingots.

Increasing Utilisation in Hot-Dip Galvanization

Rising demand for zinc ingots to produce galvanized steel through the hot-dip galvanization process will drive the market growth. The process is utilised to dip steel objects in molten zinc so that it covers all the exposed parts of the steel object. This helps in protecting the galvanized steel from corrosion and strengthens it.

Depleting Zinc Reserves

The limited production of zinc and increasing demand from end-use industries, especially from Europe due to the ongoing war, has caused the global inventory to decline and a lack of supply. This situation has adversely impacted the market growth.

Rising Infrastructural Development in Emerging Nations to Provide Lucrative Growth Opportunities to the Market

The rapid infrastructural development in developing nations has propelled the demand for zinc for various casting and mechanical applications.

Rapidly Fluctuating Prices and Adverse Health Effects of the Product to Restrict the Market Growth

Fluctuating Market Price of Zinc

The market price for zinc has been fluctuating due to various reasons such as the ongoing Russia-Ukraine war which has forced smelters and zinc production facilities to shut their operations.

Adverse Effects on Human Health

Zinc forms zinc oxide fumes when it is heated to or near the boiling point. These fumes are the cause of a short-term flu-like disease called metal fume fever. The symptoms of the disease include headache, vomiting, nausea, diarrhoea, fever, and muscle aches, among other symptoms. The symptoms are usually after several hours of exposure. 

Zinc Ingots Market Analysis

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Based on application, the market can be segmented into electroplate, zinc oxide, alloy, and battery, among others. The regional markets for the zinc ingot market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. 

The comprehensive EMR report provides an in-depth assessment of the zinc ingots market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global zinc ingot market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans. 

• REAZN S.A.

• Henan Yuguang Zinc Industry Co., Ltd.

• Yifengxin (Hebei) Metal Products Co., Ltd

• Siyaram Impex Pvt. Ltd.

• Phoenix Industries Ltd

• Others

Zinc Ingot Finds Applications in Electroplate, Zinc Oxide, Alloy, and Battery, Among Others

Based on application, the market segments can be divided into electroplate, zinc oxide, alloy, and battery, among others.

There has been a steady rise in demand for zinc ingots for battery production. The zinc is utilised to perform a chemical reaction with dry battery cells in a metal housing, which results in voltage potential between connections.

Zinc is also extensively used with copper for manufacturing an alloy known as brass. Brass rods are extensively utilised for machining purposes as they are known for their durability and corrosion resistance.

Major Regions for Zinc Ingots Market

The market for zinc ingots has been consistently declining owing to the declining global reserves. North America has been experiencing complications in the market due to increasing competition with Europe for the available amount of zinc. The prices for zinc ingots have surged in the United States due to limited supply. In China, there is a slight rise in the prices because of the ongoing Russia-Ukraine war.

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Competitive Landscape

REAZN S.A. is a company located in Luxembourg, engaged in manufacturing and distributing zinc alloys. The company was founded in 1990. The company's product portfolio consists of casting alloys and galvanizing alloys. 

Henan Yuguang Zinc Industry Co., Ltd. is a manufacturing and importing company based in China. The company primarily manufactures zinc products. It is one of the major companies active in mining, producing, and selling electrolytic zinc, zinc ingot, zinc alloy, and its by-product sulphuric acid. The company also recycles non-ferrous metals such as lead, silver, copper, cadmium, cobalt, indium, and iron. They have an annual production rate of 10,000 tons of zinc ingots.

Siyaram Impex Pvt. Ltd. is one of the leading manufacturing companies, located in Gujarat, India. Their international market is expanded to various countries such as the United States, Germany, the United Kingdom, Australia, Dubai, and Saudi Arabia, among others. They have a wide range of brass products including brass extrusion rods, brass inserts, brass electrical components, brass connectors, and brass battery terminals, among others.

Other market players include Yifengxin (Hebei) Metal Products Co., Ltd, and Phoenix Industries Ltd, among others.

Key Highlights of the Report