India's zinc consumption to rise to over 2 mn tonnes in next 10 years

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, International Zinc Association (IZA) said on Thursday.

Speaking on the sidelines of Zinc College, 2024 event here, Andrew Green, Executive Director of IZA, said: "The zinc consumption and demand in India is 1.1 million tonnes (MT), which is higher than the current production in India. ...this is likely to go over 2 MT in the next 10 years. That's the forecast."

Zinc College is organised every two years by the International Zinc Association in partnership with a member company. Hindustan Zinc Ltd is the partner of Zinc College 2024.

He further said that the global zinc market is around 13.5 million tonnes per annum in terms of primary production. And one of the big differences is that if one looks at the per capita use of zinc, on the global average it's about four to five times higher than what's happening in India.

So there are a number of areas where the use of zinc needs to be increased to meet the global standards, he explained.

"One example I could give you is automotive. About 90 to 95 per cent of the global automotive sector is using galvanized steel. So, zinc protecting the steel from corrosion here in India, in automotive, is only around 23 per cent.

"We're working here in India to try and get the use of galvanized steel picked up using the automotive market to get that on par with what we see in other parts of the world," he explained.

IZA, he said, has also been working in India on getting a standard in place for galvanized rebar.

"We are working with the government to get a standard in place for the galvanized rebar now," Green said.

Globally, zinc demand is expected to grow by 43 per cent in solar power applications, with the wind energy sector set to double by 2030.

Energy storage solutions are projected to see a seven-fold increase over the next five years.

India, as the world's fastest growing economy, is witnessing a similar surge in zinc consumption across these critical sectors.

India's steel production, coupled with rapid infrastructure growth, presents a pivotal opportunity for zinc. Incorporating zinc into infrastructure projects can significantly reduce the annual corrosion costs, which amounts to nearly five per cent of the country's GDP.

The automotive industry, another key sector, is following global trends, with a forecasted rise in demand for galvanized steel by 2030, driven by the growing middle-class aspirations.