Rising galvanised steel demand to propel global zinc market

The research market’s report highlights three major factors that are influencing the growth of the global zinc market. They are as follows: Infrastructure development in emerging markets, rising demand for zinc fertilizers, and rising demand for galvanised steel.

Technavio’s lead metals and minerals research analyst Chandrakumar B J says, “Growing modernisation and urbanisation in China is boosting the growth of the construction industry, which in turn is leading to the rise in demand for zinc. A similar trend is noted in emerging countries such as India, Brazil, and Indonesia. This will aid the growth of the market over the next four years.”

“Zinc fertilisation methods have helped control the deficiency problem to a large extent. In India, zinc-deficient soils occupy approximately 50% of the agricultural area, which is a critical constraint for crop yields. But with the use of zinc fertilisers, there has been an increase in crop yields. Therefore, the high demand for zinc fertilisation is leading to the growth of the overall market,” adds Chandrakumar.

The global demand for galvanised steel is increasing owing to its benefits in industrial applications. There are more than 800 continuous galvanising lines in operation around the world. Thus, the rising demand for galvanised steel will lead to increased demand for zinc during the forecast period.