Evaluating the Zinc Market’s Growth Prospects from 2024 to 2033
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How is the Growth Rate of the Zinc Market Estimated for 2024-2033?
In recent times, the zinc market has been witnessing significant expansion. Its growth is projected to increase from $27 billion in 2023 to $29.15 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%. The market’s robust growth during the historic period can be ascribed to factors such as increasing use of galvanization in construction, growth of the automobile industry, use in batteries and alloys, as well as applications in healthcare, pharmaceuticals, and metal coatings and protection.
Forecasts predict a robust enlargement for the zinc market in the near future. The market worth is projected to expand to $38.87 billion by 2028, clocking a compound annual growth rate (CAGR) of 7.5%. The propellants for this growth in the forecasted period are linked to increased infrastructure and construction activities, proliferation of renewable energy storage, adoption of electric vehicles (evs) and related transportation, as well as health and wellness developments and a recovering global economy. Key trends for the period forecasted include the increased emphasis on zinc as a nutritional supplement, market penetration in emerging regions, the application of zinc alloys in manufacturing sectors, initiatives related to zinc recycling, and the incorporation of zinc in health and wellness products.
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What Key Drivers Are Propelling the zinc Market’s Growth?
The elevated demand in the Zinc market results from the escalating expansion of heavy industries in countries with developing economies like China and Peru, fueled by the upsurge in population and infrastructure growth. Here, population alludes to the comprehensive count of residents within a specific region or country. The primary utilization of zinc is found in the galvanizing process, which serves as a protective layer for iron and steel against corrosion. For example, data from Worldometer, a reference tool based in the US supplying real-time statistics for a wide range of subjects, reveals that the present population of China in June 2022 stands at 1,450,341,718. Thus, this surge in population prompts the rise of the Zinc market.
What Are the Distinct Segments of the Zinc Market?
1) By Type: Construction, Transport, Consumer Goods, Electrical Appliances, and General Engineering
2) By Mining Type: Underground Mining, Surface Mining
Which New Trends Are Making Waves in the Zinc Market?
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Which Regions Are Significant to the Growth of the Zinc Market?
Asia-Pacific was the largest region in the zinc market in 2023. The regions covered in the zinc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Zinc Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the zinc market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Zinc Market Include
1. Zinc Market Executive Summary
2. Zinc Market Segments
3. Zinc Market Size And Template Market Growth Rate
4. Key Zinc Market Trends
5. Major Zinc Market Drivers
……
25. Key Mergers And Acquisitions In The Zinc Market
26. Top Zinc Companies
27. Zinc Market Opportunities And Strategies
28. Zinc Market, Conclusions And Recommendations
29. Appendix
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