Asia-Pacific: Zinc Market 2024

Zinc Market Size in Asia-Pacific

In 2021, the Asia-Pacific zinc market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Zinc Production in Asia-Pacific

In value terms, zinc production expanded to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 30% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Zinc Exports

Exports in Asia-Pacific

In 2021, approx. X tons of zinc were exported in Asia-Pacific; falling by -10.8% against the year before. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 20%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, zinc exports soared to $X in 2021. Total exports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +18.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X tons) and Australia (X tons) represented roughly 62% of total exports in 2021. India (X tons) held the next position in the ranking, distantly followed by Japan (X tons). All these countries together held approx. 26% share of total exports. The following exporters - Hong Kong SAR (X tons), Singapore (X tons) and Malaysia (X tons) - together made up 8.6% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Singapore (with a CAGR of +13.1%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Australia ($X) and India ($X) were the countries with the highest levels of exports in 2021, with a combined 80% share of total exports. Japan, Hong Kong SAR, Singapore and Malaysia lagged somewhat behind, together accounting for a further 17%.

In terms of the main exporting countries, Singapore, with a CAGR of +15.5%, saw the highest rates of growth with regard to 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 31% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 39% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in India ($X per ton) and South Korea ($X per ton), while Malaysia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.6%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of zinc decreased by -2.3% to X tons, falling for the third year in a row after two years of growth. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 17%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, zinc imports soared to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 62%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons), distantly followed by Taiwan (Chinese) (X tons), Vietnam (X tons), Thailand (X tons), India (X tons) and Indonesia (X tons) were the largest importers of zinc, together mixing up 77% of total imports. The following importers - Singapore (X tons), Malaysia (X tons), South Korea (X tons), Hong Kong SAR (X tons) and Bangladesh (X tons) - together made up 18% of total imports.

From 2012 to 2021, average annual rates of growth with regard to zinc imports into China stood at -2.4%. At the same time, Thailand (+19.0%), Singapore (+17.0%), Vietnam (+14.9%), India (+6.3%), Taiwan (Chinese) (+1.2%) and Bangladesh (+1.1%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +19.0% from 2012-2021. Indonesia and South Korea experienced a relatively flat trend pattern. By contrast, Malaysia (-2.4%) and Hong Kong SAR (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, Thailand, Singapore and India increased by +7.8, +6.7, +3 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported zinc in Asia-Pacific, comprising 28% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total imports. It was followed by Vietnam, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +1.8%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+5.7% per year) and Vietnam (+18.4% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, surging by 26% against the previous year. Import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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