Malaysia: Zinc Market 2024

Zinc Market Size in Malaysia

After four years of growth, the Malaysian zinc market decreased by -51.5% to $X in 2021. Over the period under review, consumption, however, saw significant growth. Zinc consumption peaked at $X in 2020, and then dropped markedly in the following year.

Zinc Production in Malaysia

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 +3.3% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 33% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Zinc Exports

Exports from Malaysia

After three years of decline, overseas shipments of zinc increased by 59% to X tons in 2021. In general, exports, however, faced a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 138%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, zinc exports skyrocketed to $X in 2021. Overall, exports, however, faced a deep slump. The growth pace was the most rapid in 2015 with an increase of 161%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Indonesia (X tons), Vietnam (X tons) and Thailand (X tons) were the main destinations of zinc exports from Malaysia, with a combined 70% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +51.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) were the largest markets for zinc exported from Malaysia worldwide, together comprising 67% of total exports.

In terms of the main countries of destination, Indonesia, with a CAGR of +54.5%, saw 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 average zinc export price amounted to $X per ton, surging by 7% against the previous year. In general, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, zinc export price decreased by -11.9% against 2018 indices. The growth pace was the most rapid in 2017 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+21.4%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Malaysia

In 2021, after two years of growth, there was significant decline in purchases abroad of zinc, when their volume decreased by -57.5% to X tons. Over the period under review, imports recorded a noticeable contraction. The pace of growth was the most pronounced in 2014 with an increase of 69%. Imports peaked at X tons in 2020, and then dropped dramatically in the following year.

In value terms, zinc imports fell sharply to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by 91%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons), South Korea (X tons) and Australia (X tons) were the main suppliers of zinc imports to Malaysia, together comprising 65% of total imports. These countries were followed by the United Arab Emirates, Canada, Japan, Belgium, Spain and Switzerland, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +50.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest zinc suppliers to Malaysia were South Korea ($X), India ($X) and Australia ($X), with a combined 66% share of total imports. These countries were followed by the United Arab Emirates, Canada, Japan, Belgium, Spain and Switzerland, which together accounted for a further 26%.

The United Arab Emirates, with a CAGR of +51.7%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, picking up by 28% against the previous year. Over the last nine years, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2017 when the average import price increased by 28%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Switzerland ($X per ton) and South Korea ($X per ton), while the price for Belgium ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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