India's Zinc Consumption to Surge Over Next Decade

India's zinc consumption is projected to surpass 2 million tonnes in the next 10 years from the current 1.1 million tonnes. The International Zinc Association (IZA) highlights increased usage in automotive and infrastructure sectors. Global trends suggest significant demand growth in solar power, wind energy, and energy storage.

India's zinc consumption is estimated to increase to over 2 million tonnes in the next 10 years from the current 1.1 million tonnes, according to the International Zinc Association (IZA). This was announced by Andrew Green, Executive Director of IZA, at the Zinc College 2024 event. Green noted that India's current zinc demand exceeds its production and is expected to grow significantly in the coming decade. Zinc College is an event organized biennially by IZA in collaboration with member companies, with Hindustan Zinc Ltd partnering for the 2024 edition.

Green explained that the global zinc market stands at approximately 13.5 million tonnes annually. He pointed out the disparity in per capita zinc use between India and the global average, indicating the need for increased zinc application in various sectors, such as automotive and infrastructure, to meet international standards. He cited the example of galvanized steel usage in the automotive sector, which is only about 23% in India compared to 90-95% globally. Efforts are being made to increase this percentage.

Globally, zinc demand is poised to grow by 43% in solar power applications and is expected to double in the wind energy sector by 2030. Energy storage solutions are projected to see a seven-fold increase over the next five years. As India's economy grows rapidly, zinc consumption across critical sectors is also increasing. Incorporating zinc into infrastructure projects can significantly reduce annual corrosion costs, currently around 5% of India's GDP. The automotive industry's demand for galvanized steel is also expected to rise by 2030, driven by the aspirations of India's growing middle class.

(With inputs from agencies.)