Zinc Mining Market Size, Share, and Industry Analysis By Production (Underground, Open Pit, and Combined Open Pit & Underground mining), By Application (Construction, Automotive, Consumer Goods, and Electrical Appliances), and Regional Forecast, 2024-2032

The zinc mining market comprises sales of zinc ores and concentrates by entities that mine zinc ore. The industry encompasses establishments carrying out activities such as developing mine sites and preparing zinc ores. Zinc has been proven to be one of the effective and economical ways to protect steel against corrosion.

It has several industrial and product applications due to its properties. For instance, due to its malleable nature, it is completely used in dry cell batteries. Dry cell batteries are used by the electrical industry to power hearing aids, wristwatches, calculators, and others. Other common uses of zinc are die casting and the production of brass and bronze, which are used for zinc sheet applications such as roofing, gutters, and downpipes.

The use of robots in the zinc mining industry is improving productivity and reducing operational costs. They are used in some critical mining activities such as drilling, blasting explosives in mines, and guiding and driving off-highway haul trucks operating in mines. The global market for zinc mining will see constant growth over the coming years, as the industrialized countries will need better shielding for their large structures, which will be achieved through galvanizing steel structures or coating them with zinc.

The COVID-19 pandemic had a critical impact on varied end-use industries. The shutdown of businesses and imposed lockdown slowed down the manufacturing and mining activities. The unavailability of raw materials and labor for the production of zinc mining impacted the market growth. However, the growing need for different minerals and rocks for various activities is promoting the mining activities in the post-pandemic period, creating opportunities for market growth.

KEY INSIGHTS

The report covers the following key insights:

• Recent Advancements in the Zinc Mining Market


• Key Industry Trends


• Regulatory Landscape for the Zinc Mining Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

SEGMENTATION

ANALYSIS BY PRODUCTION

Based on production, the market is segmented into underground, open pit, and combined open pit and underground mining. The underground mines account for the highest share in terms of production volume, followed by open pit and combined open pit & underground mining. Underground mining is used to reach deeper deposits, which requires digging tunnels or shafts to reach buried ore deposits. Open pit mining is the most common method used throughout the world for mineral mining and does not require extractive methods or tunnels.

ANALYSIS BY APPLICATION

Based on application, the market is segmented into construction, automotive, consumer goods, and electrical appliances. Copper is widely utilized in building and construction, interior design, and architecture applications. Properties such as corrosion resistance, durability, and low maintenance make it suitable for various applications. Recyclability, long life, and thermal and energy efficiency make copper a sustainable material for green building applications. The high electrical conductivity of copper helps improve the energy efficiency of fans, motors, lighting, and appliances. The automotive sector is one of the primary end-user industries for aluminium and copper.

REGIONAL ANALYSIS

By region, the zinc mining market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific is being considered as the largest producer of zinc in the world. The Middle East is considered the smallest region in the market.

Central and South America (CSA) is anticipated to witness significant growth in terms of base metal consumption. The region’s automobile sector is witnessing development due to low interest rates, economic stability, and credit finance availability compared to Asia Pacific, where the metals and mining sector is anticipated to register good earnings due to the attractive prices of metal regardless of the volatility in its prices.

Furthermore, in North America, improved pro-mining policies coupled with the growing demand for electric vehicles act as a key factor in driving mining activities.

KEY PLAYERS COVERED

The report includes the profiles of key players such as China Shenhua Energy, McArthur River and Carrington Glencore Xstrata Plc (GLEN), Proano, Campo Morado, BaoShan Iron & Steel, Scantech, Aluminum Corporation of China, China Coal Energy, Vedanta Resources, Proano, La Ciénega and Penasquito mines, Hindustan Zinc, Jinchuan Group, Teck Resources, Nyrstar, Trevali Mining, and Hudbay Minerals.

KEY INDUSTRY DEVELOPMENTS

• In December 2020, Glencore was capable of ramping up zinc concentrates due to higher zinc content in the ores of the Antamina mine and production rise in South America.


• In April 2020, BMO estimated the global zinc demand to decrease this year compared to a roughly flat year in 2019, which can be assumed as a recovery in the global economy.


•  In April 2020, Hindustan Zinc’s operations in India, which produces about a million tons a year, are ramping up operations after shuttering for a few weeks.