Eastern Asia: Zinc Market 2024

Zinc Market Size in Eastern Asia

The East Asian zinc market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Zinc Production in Eastern Asia

In value terms, zinc production contracted modestly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 24%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Zinc Exports

Exports in Eastern Asia

In 2021, the amount of zinc exported in Eastern Asia reduced to X tons, with a decrease of -13.9% against the year before. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 14%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, zinc exports expanded notably to $X in 2021. The total export value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 25%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Korea represented the key exporter of zinc in Eastern Asia, with the volume of exports accounting for X tons, which was approx. 71% of total exports in 2021. It was distantly followed by Japan (X tons) and Hong Kong SAR (X tons), together constituting a 26% share of total exports. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

South Korea experienced a relatively flat trend pattern with regard to volume of exports of zinc. At the same time, Taiwan (Chinese) (+4.3%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.3% from 2012-2021. By contrast, Japan (-1.1%) and Hong Kong SAR (-6.0%) illustrated a downward trend over the same period. South Korea (+8.5 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -5.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest zinc supplier in Eastern Asia, comprising 71% of total exports. The second position in the ranking was taken by Japan ($X), with an 18% share of total exports. It was followed by Hong Kong SAR, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in South Korea amounted to +5.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+3.3% per year) and Hong Kong SAR (-3.2% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, jumping by 29% against the previous year. Export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. 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 export price increased by 34% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and South Korea ($X per ton), while Hong Kong SAR ($X per ton) and Japan ($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 Eastern Asia

In 2021, overseas purchases of zinc decreased by -3.3% to X tons, falling for the third year in a row after two years of growth. In general, imports recorded a slight decrease. The growth pace was the most rapid in 2017 with an increase of 36% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, zinc imports skyrocketed to $X in 2021. Total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 89% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China was the major importing country with an import of around X tons, which resulted at 57% of total imports. Taiwan (Chinese) (X tons) held the second position in the ranking, distantly followed by South Korea (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 41% share of total imports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to zinc imports into China stood at -2.4%. At the same time, Taiwan (Chinese) (+1.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +1.2% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Japan (-2.1%) and Hong Kong SAR (-4.2%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+5.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-1.9 p.p.) and China (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported zinc in Eastern Asia, comprising 58% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 28% share of total imports. It was followed by Hong Kong SAR, with a 6.9% 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 Hong Kong SAR (-0.8% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 25% against the previous year. Import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.9% 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%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the import prices remained at a lower figure.

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 Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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