According to the International Zinc Association (IZA), 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.
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- Recently, the International Zinc Association (IZA) organised the ‘Zinc College’ in India after 10 years in Udaipur, which is renowned as the Zinc City.
- Udaipur is home to Hindustan Zinc, India’s largest and the world’s second-largest integrated zinc producer.
About International Zinc Association (IZA)
- The International Zinc Association (IZA) is the only organisation dedicated exclusively to the interests of zinc and its users.
- Platform for the Zinc Industry: It provides a platform for the zinc industry to analyse global issues and coordinate timely responses.
- It leads collective initiatives, working with customer groups and stakeholders at local, regional, and global levels to support the zinc industry.
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- The Zinc College is organised every two years (Biennial Event) by the IZA.
- Zinc College serves as a focal point for the exchange of groundbreaking ideas and the advancement of best practices that will shape the future of the zinc industry worldwide.
- Last ‘Zinc College’ was hosted in Spain.
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About Zinc
- 4th Most Used Metal: Zinc is the fourth most used metal on Earth, after iron, aluminum, and copper.
- Corrosion Protection: Zinc’s position on the periodic table makes it an excellent coating for protecting steel from corrosion.
- Wide Application: Zinc is essential in thousands of products across sectors like healthcare, agriculture, manufacturing, and industry.
- Global Market Size: Zinc is a $40 billion per year market.
- Per Capita Use Discrepancy: Global per capita zinc use is four to five times higher than in India.
- Zinc Demand Growth Forecast
- Global Demand Surge: Zinc demand in solar power applications is expected to grow by 43%, and the wind energy sector is set to double by 2030.
- Zinc consumption in the auto sector is forecast to grow 22% by 2030
- India’s Consumption Increase: India’s zinc consumption is projected to rise from 1.1 million tonnes to over 2 million tonnes in the next 10 years.
- Significance of Zinc:
- Sustainable Development Goals: The zinc industry contributes to all 17 UN Sustainable Development Goals (SDGs).
- Low Carbon Future: Zinc will play a crucial role in transitioning to a low-carbon future due to its sustainability and availability.
Key Sectors for Further Zinc Utilisation in India
- Automotive Industry:
- Global Status: Currently, 90-95% of the global automotive sector uses galvanised steel.
- Low Adoption of Galvanised Steel: In India, only about 23% of the automotive sector uses galvanised steel.
- Galvanised steel refers to steel that has been coated with a layer of zinc to protect it from corrosion.
- It is commonly used in construction, automotive, and infrastructure sectors due to its durability and resistance to weathering.
- Infrastructure Projects: Incorporating zinc can significantly cut corrosion costs, which account for nearly 5% of India’s GDP.
- Growing Zinc Demand in Renewable Energy
- Solar Power Applications: Global zinc demand in solar power is expected to grow by 43%.
- Wind Energy Expansion: Zinc use in wind energy is forecasted to double by 2030.
- Energy Storage Surge: Zinc demand in energy storage solutions is projected to increase seven-fold in the next 5 years.
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Conclusion
India’s rapid economic growth and infrastructure development present substantial opportunities for increasing zinc usage across critical sectors, aligning with global standards and demands.
September 20, 2024
