Asia: Zinc Market 2024

Zinc Market Size in Asia

In 2021, the Asian zinc market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Zinc Production in Asia

In value terms, zinc production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 32%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Zinc Exports

Exports in Asia

In 2021, overseas shipments of zinc decreased by -6.8% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports saw a noticeable downturn. The pace of growth appeared the most rapid in 2015 with an increase of 23% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, zinc exports skyrocketed to $X in 2021. Total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +27.2% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 52% 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 lower figure.

Exports by Country

South Korea represented the major exporting country with an export of around X tons, which amounted to 34% of total exports. Kazakhstan (X tons) took the second position in the ranking, followed by India (X tons), Japan (X tons) and Iran (X tons). All these countries together held near 47% share of total exports. The following exporters - Uzbekistan (X tons) and the United Arab Emirates (X tons) - each finished at a 7.9% share 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 the United Arab Emirates (with a CAGR of +6.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest zinc supplying countries in Asia were South Korea ($X), India ($X) and Kazakhstan ($X), with a combined 68% share of total exports. Japan, Iran, Uzbekistan and the United Arab Emirates lagged somewhat behind, together accounting for a further 21%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +6.4%, recorded 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

In 2021, the export price in Asia amounted to $X per ton, jumping by 30% against the previous year. Export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.6% 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 when the export price increased by 37%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+5.6%), while the other leaders experienced more modest paces of growth.

Zinc Imports

Imports in Asia

In 2021, purchases abroad of zinc increased by 0.5% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 15%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, zinc imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 when imports increased by 59% against the previous year. Over the period under review, imports hit record highs 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 Turkey (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), Thailand (X tons), India (X tons) and Indonesia (X tons) were the key importers of zinc, together comprising 75% of total imports. The following importers - the United Arab Emirates (X tons), 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, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of +19.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest zinc importing markets in Asia were China ($X), Turkey ($X) and Taiwan (Chinese) ($X), with a combined 47% share of total imports. Vietnam, Thailand, India, Indonesia, the United Arab Emirates, Singapore, Malaysia, Hong Kong SAR, Bangladesh and South Korea lagged somewhat behind, together comprising a further 46%.

In terms of the main importing countries, Thailand, with a CAGR of +23.6%, 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

In 2021, the import price in Asia amounted to $X per ton, with an increase of 28% against the previous year. Import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the import price increased by 38%. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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