Lead Market Size, Share & Industry Analysis, By Application (Ammunition, Batteries, Construction, Electronics, Marine, Plumbing, and Others), and Regional Forecast, 2024-2032

The marine segment primarily drives the lead market. Lead acid batteries are extensively used in marine vessels for starting engines, powering navigation & communication equipment, and powering auxiliary power. These batteries are preferred due to their reliability, low cost, and ability to withstand harsh marine environments. In addition, in sailboats, lead is often used as a counterweight in keels to lower the vessel's center of gravity, improve stability, and enhance sailing performance. The segment also contributes to the development of marine paints and coatings that contain lead compounds, offering superior protection against corrosion and bio fouling for ships and offshore structures. Furthermore, lead is used in marine salvage operations for counterweights and in fishing industries as sinkers and weights, showcasing its versatility and importance across various marine-related activities.

The electronics segment also drives the lead market. Lead acid batteries are extensively used in vehicles for starting, lighting, and ignition systems. These batteries provide the initial burst of power required to start the engine and also power the vehicle's lights and other electrical accessories. Furthermore, lead is used in the manufacturing of battery terminals and other components within the vehicle's electrical system. Furthermore, electronics in the lead market find applications in various segments, including automotive electronics for enhancing vehicle safety and efficiency, consumer electronics for improving the functionality and usability of household appliances, industrial electronics for optimizing manufacturing processes and increasing productivity, and telecommunications for advancing communication technologies. These applications drive innovation and growth in the lead market.

• The Food Safety and Standards Authority of India (FSSAI) has proposed imposing a permissible limit of 1 mg of lead in every kg of powdered infant formula, 0.15 mg per kg in liquid infant formula, and 2.5 mg per kg in other foods.

Lead acid batteries serve as backup power sources for emergency lighting systems in buildings and for security systems such as alarms and surveillance cameras. These batteries ensure that essential safety and security equipment remains operational during power failures or emergencies. Furthermore, lead batteries are commonly used in telecommunication infrastructure to provide backup power in case of grid outages.

• In 2022, the Asia Pacific region dominated the lead market with approximately 39% of the market share.

By region, the major lead market consumers are China, Japan, and India in Asia Pacific; the U.S. and Canada in North America; Germany and France in Europe; and Saudi Arabia and the UAE in the Middle East.

• In 2022, China accounted for 77% of the battery manufacturing capacity.


• The rest of world accounted for around 23% of the battery manufacturing capacity in 2022.

Key Insights

The report covers the following key insights:

• Key Market Trends

• The Regulatory Scenario of the Lead Market


• Key Developments in the Lead Market


• Latest Technological Advancements


• Impact of COVID-19 on the Lead Market

Segmentation

Analysis by Application

By application, the batteries segment holds a considerable share of the global lead market.

• Lead acid batteries dominate the automotive sector, powering vehicles ranging from traditional internal combustion engine vehicles to electric vehicles. These batteries provide the high-power bursts needed for starting engines and are also used to power various auxiliary systems in vehicles.


• In addition, lead batteries find extensive use in industrial applications such as forklifts and backup power systems. These batteries play a crucial role in storing energy generated from renewable sources such as solar and wind. They are used in both off-grid and grid-tied systems to store excess energy generated during periods of low demand for use during peak demand or when renewable sources are not producing power.

Regional Analysis

The Asia Pacific region holds a considerable share of the lead market. Lead-acid batteries are used in electric vehicles (EVs), majorly commercial EVs, to supplement other ancillary loads. Currently, China is the largest market for electric vehicles. In addition, many countries in the Asia Pacific are experiencing rapid industrialization and urban development, leading to increased demand for lead acid batteries in various industrial applications and boosting the lead market growth.

Leading Electronics Manufacturers, By Country, 2022

• China - 33%


• Taiwan - 12%


• South Korea - 8%


• Vietnam - 5%


• Malaysia – 5%


• Rest of the World - 37%

Key Players Covered

The report includes the profiles of key players, such as KOREAZINC., Aqua Metals, Inc., Hemendra Metal Industries, B.H.P., Teck Resources Limited, Gravita India Ltd, Canada Metal North America Ltd., Non-Ferrous Metals Inc., H.M.S Metal Corporation, South32, M.A. Metal Corporation, and Vedanta Resources Limited.

Key Industry Developments

In February 2024, Australia's South32 announced that it had approved USD 2.16 billion for the development of the Taylor zinc-lead deposit, its first mine at the Hermosa project in Arizona, U.S.