Zinc Demand In India To Grow Significantly By 2030: IZA

Zinc demand in India is expected to grow significantly by 2030 due to emerging sectors such as green energy and battery technology, the International Zinc Association said on Tuesday.

IZA believes that demand for energy storage solutions will grow sevenfold in the next five years. India, the fastest-growing economy in the world, is witnessing a similar increase in zinc consumption in these key sectors.

India’s record-breaking steel production coupled with rapid infrastructure growth presents a critical opportunity for zinc. Incorporating zinc in infrastructure projects can significantly reduce annual corrosion costs, which amount to nearly five per cent of India’s GDP, the company said.

IZA organised Zinc College 2024 here – an international event attended by 31 companies and 21 countries. During the five-day event, which began on Sunday, deliberations were held on the critical role of zinc in creating a sustainable and low-carbon future.

India’s demand for zinc will grow rapidly due to urbanization and the need for permanent infrastructure, said IZA Chairman Arun Mishra, adding that Zinc College 2024 is a landmark event that lays the foundation for a more sustainable and innovative zinc ecosystem.

Current zinc demand in India is 800 to 1,000 tonnes per year. The automotive industry, another key sector, is following global trends with a projected increase in demand for galvanised steel by 2030, driven by the growing middle class and desire for improved vehicles and longer lifespans.

Globally, zinc demand in solar energy is expected to grow by 43 per cent and the wind energy sector will double in the next six years, according to IZA.

Speaking at the event, Arun Misra, Chairman of the International Zinc Association and CEO, of Hindustan Zinc Limited, said, “We are at a critical juncture where zinc will play a critical role in reducing carbon emissions, supporting renewable energy infrastructure and ensuring sustainability for future generations. Zinc is essential to everything around us – from buildings to batteries, solar panels, wind turbines and automobiles. India’s demand for zinc will grow rapidly due to urbanisation and the need for long-lasting infrastructure. Zinc College 2024 is a landmark event that lays the foundation for a more sustainable and innovative zinc ecosystem.”