The global market for zinc is set to experience significant growth in the coming years, according to the latest report from ResearchAndMarkets.com. With an estimated 18.4 million tons in 2023, the market is projected to reach 21.7 million tons by 2030, growing at a CAGR of 2.4%.
One of the key drivers behind this growth is the increasing demand for zinc in galvanization and coating applications. Technological advancements and innovations in zinc recycling are also contributing to the market’s expansion. With zinc being 100% recyclable, the shift towards sustainable and environmentally friendly practices is gaining momentum, aligning with global trends towards green growth.
The report highlights the importance of metal recycling, including zinc, as the circular economy gains traction globally. This not only supports environmental sustainability efforts but also stabilizes supply chains by reducing dependency on mined zinc. This plays a crucial role in the overall market growth of zinc.
Key insights from the report include the significant growth trajectory of the Galvanizing Application segment, expected to reach 10.9 million tons by 2030 with a CAGR of 2.6%. The Die casting Application segment is also set to grow at a 2.3% CAGR over the analysis period.
With in-depth regional analysis and coverage of major players in the market, the report provides comprehensive market data to help businesses make informed decisions. As the demand for zinc continues to rise, the market is poised for further growth in the years to come.
