by The zinc dust market is estimated to be valued at US$ 369.15 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Zinc dust is a form of zinc used as a commodity chemical in a variety of industrial processes. It plays a key role in galvanizing processes as a sacrificial anode to protect steel from corrosion when steel is immersed in molten zinc. Zinc dust also finds application in resins, paints, cosmetics and agricultural applications owing to its ability to protect surfaces from corrosion and impart pigmentation. Apart from galvanizing processes, zinc dust also serves as a prime raw material in the manufacturing of zinc oxide which is used extensively in the rubber, cosmetic and pharmaceutical industries.
Market Dynamics:
Rising consumption of galvanized steel across construction and automobile industries remains a key driver for the zinc dust market. Galvanizing steel extends its life span significantly as the zinc coating acts as a barrier against corrosion. According to the International Lead and Zinc Study Group, global consumption of galvanized steel grew by over 5% year-on-year between 2018 to 2020. Growing infrastructure development activities across developing regions is supporting the demand for galvanized steel which in turn is augmenting the consumption of zinc dust. Additionally, increasing application of zinc oxide as a vulcanization accelerator in the rubber industry is also propelling the market growth. Zinc oxide when added to rubber compounds works as an activator for sulfur vulcanization and enhances the physical properties of vulcanized rubber.
Segment Analysis:
The zinc dust market is dominated by the metallurgical segment. This segment accounts for over 80% of the total zinc dust consumption globally. Zinc dust finds major application as a galvanizing agent in steel production to provide corrosion protection. Being a cost-effective solution, zinc dust has emerged as a viable alternative to electro galvanizing in the metallurgy industry.
PEST Analysis:
- Political: Stringent regulations regarding environmental protection and workers’ safety associated with zinc production can impact market growth. However, supportive government policies for infrastructure and construction development positively influence the zinc dust demand.
- Economic: Strong GDP growth in emerging nations expands the construction and industrial manufacturing sectors, driving consumption of zinc and zinc dust. Volatility in zinc ore prices remains a challenge.
- Social: Rising population and rapid urbanization increase the need for infrastructure, transportation, and housing. This augments the long-term consumption outlook of zinc dust.
- Technological: Developments in hot-dip galvanizing and mechanical plating methods aid in cost reductions and improve the surface finish and corrosion resistance provided by zinc dust.
Key Takeaways:
The Global Zinc Dust Market Size is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing infrastructure development activities worldwide. Asia Pacific currently dominates the global zinc dust market, with China accounting for over 50% of the global zinc production. The region’s rapidly growing construction and automotive industries have been driving zinc dust consumption.
Regional analysis
The Asia Pacific region accounts for the largest share in the global zinc dust market, with China being the major consumer. This is attributed to the strong presence of the construction and metallurgy sectors. China spends heavily on infrastructure development programs like highways, rail networks, and buildings, utilizing huge amounts of reinforcement steel, which is galvanized using zinc dust.
Key players
Key players operating in the zinc dust market are EverZinc, S. Zinc, Numinor Chemical Industries Ltd., Hanchang, Silox India Private Limited, Metal Powder Company Limited (MEPCO), Toho Zinc Co., Ltd., Hakusui Tech Co., Ltd., Pars Zinc Dust Manufacturing Co. (PZD), and Jiangsu Shenlong Zinc Industry Co., Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
