India: Zinc Market 2024

Zinc Market Size in India

In 2021, the Indian 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 +2.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Zinc consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Zinc Production in India

In value terms, zinc production rose sharply to $X in 2021 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.8% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 69% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Zinc Exports

Exports from India

In 2021, the amount of zinc exported from India contracted to X tons, which is down by -11.4% compared with 2020 figures. Over the period under review, total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +2.2% 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 +36.7% against 2019 indices. The pace of growth was the most pronounced in 2015 when exports increased by 79% against the previous year. 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 surged to $X in 2021. In general, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when exports increased by 114%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons), Taiwan (Chinese) (X tons) and the United Arab Emirates (X tons) were the main destinations of zinc exports from India, with a combined 52% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +53.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for zinc exported from India were Singapore ($X), Taiwan (Chinese) ($X) and the United Arab Emirates ($X), with a combined 52% share of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of +57.7%, 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

The average zinc export price stood at $X per ton in 2021, jumping by 37% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to Nepal ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into India

In 2021, supplies from abroad of zinc was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 when imports increased by 94% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, zinc imports soared to $X in 2021. Overall, imports showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 108% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of zinc to India, with a 66% share of total imports. Moreover, zinc imports from South Korea exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was held by Australia (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+49.9% per year) and Australia (-1.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of zinc to India, comprising 67% of total imports. The second position in the ranking was held by Japan ($X), with an 18% share of total imports. It was followed by the United Arab Emirates, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+55.7% per year) and the United Arab Emirates (-0.1% per year).

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, surging by 24% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% 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 an increase of 41%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United Arab Emirates ($X per ton) and Switzerland ($X per ton), while the price for Australia ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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