India currently consumes around 1.1 million tonne of zinc. Vedanta-owned Hindustan Zinc is the largest producer of the metal in the country, and the second-largest globally.
“India's demand for zinc is ahead of the worldwide consumption patterns,” Andrew Green, the Executive Director of the International Zinc Association said in the city today. “Combined with the rise in emerging applications, we at International Zinc Association are optimistic about the prediction on zinc demand in India to double in under 10 years,” he said.
At a global level as well, the demand for zinc is seen growing significantly. Demand for the metal from energy storage solutions is seen growing sevenfold in five years. The demand for zinc from solar power applications is seen growing by 43%, while doubling from the wind energy sector by 2030, the industry body said.
India is also expected to see a sharp jump in demand for zinc across these sectors.
“We are at a critical juncture where zinc will play a decisive role in reducing carbon emissions, supporting renewable energy infrastructure, and ensuring sustainability for future generations,” Arun Misra, the chairman of the industry body said. Misra is also the chief executive officer of city-based Hindustan Zinc.
More than three-fourth of the zinc used in the country is currently utilised for galvanising, and this is expected to continue driving demand in a big way. “India’s record-breaking steel production, coupled with rapid infrastructure growth, presents a pivotal opportunity for zinc,” the association said in a statement.
Corrosion costs account for as much as 5% of the country’s GDP, and this can be reduced significantly with the incorporation of zinc in infrastructure projects. Coating steel with a layer of zinc is known as galvanisation, and this helps in reducing the corrosion of steel.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
