Zinc Global Market Report 2023
Major players in the Zinc market include Jinchuan Group, Teck Resources, Nyrstar, Tevali Mining, and Hudbay Minerals. The global zinc market will grow from $26.64 billion in 2022 to $29.54 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%.
New York, April 11, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Zinc Global Market Report 2023" - https://www.reportlinker.com/p06320376/?utm_source=GNW
Major players in the Zinc market include Jinchuan Group, Teck Resources, Nyrstar, Tevali Mining, and Hudbay Minerals.
The global zinc market will grow from $26.64 billion in 2022 to $29.54 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The zinc market is expected to grow from $45.78 billion in 2027 at a CAGR of 11.6%.
The Zinc market includes revenues earned by entities by protecting iron and steel from rusting.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Zinc refers to the method used to remove zinc from the ground through mining in its mineral forms.A mine that primarily produces zinc minerals in ore is known as a zinc mine.
Zinc ores frequently contain lead and silver minerals as co-products.
Asia-Pacific was the largest region in the Zinc market. The regions covered in this Zinc report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of Zinc are construction, transport, consumer goods, electrical appliances, and general engineering.Construction refers to the act or result of construing, interpreting, or explaining.
The mining type includes underground mining, and surface mining.
The growth in the Zinc market is due to an increase in various heavy industries in developing countries such as China and Peru owing to the rising population and infrastructure.Population refers to the whole number of people or inhabitants in a country or region.
The primary use of zinc is in the galvanizing process, which protects iron and steel from rusting.For instance, In June 2022, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, the current population of China is 1,450,341,718.
Therefore, the rising population is driving the growth of the Zinc market.
The use of robots in the Zinc industry is improving productivity and reducing operational costs. Robotics is increasing the mining capabilities by rolling out autonomous trucks and drills, thus reducing the need for a human workforce, as the major trends witnessed in the global Zinc market.
The countries covered in the Zinc market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The zinc market research report is one of a series of new reports that provides zinc market statistics, including zinc industry global market size, regional shares, competitors with a zinc market share, detailed zinc market segments, market trends and opportunities, and any further data you may need to thrive in the zinc industry. This zinc market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06320376/?utm_source=GNW
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