ZINC WASTE RECYCLING AND REUSING MARKET REPORT OVERVIEW
The global Zinc Waste Recycling and Reusing Market Size is USD 194.49 million in 2023 and the market is projected to touch USD 262.780 million by 2032, exhibiting a CAGR of 3.40% during the forecast period.
Zinc waste recycling is the process of collecting, processing, and reusing zinc-containing material such as scrap metal or waste generated from zinc production and the scrap is heated until the zinc volatilizes by separating from steel as in gas form after which gas is collected and treated which cause the deposition in form of zinc dust.
It is recycled from zinc-containing waste which is produced during manufacturing or old scrap such as zinc alloys and galvanized steel. Zinc recycling in die casting not only conserves resources but also diminishes the need for new raw material extraction and it also mitigates waste, less environmental degradation, and lower energy consumption.
COVID-19 Impact: Market Growth Restrained by Pandemic Impact on Service Sector
The global COVID-19 pandemic has been unprecedented and staggering with the market experiencing higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The impact of COVID-19 on service has badly affected as it impacts the various sectors such as tourism, hospitality, and retail sector in a large scale as these sectors are run by people's money due to the lockdown of all the tourist places, cafes, restaurants, shops, mall, and stores are closed so the regular income and revenue are affected badly and also there is a decline in sales and customer traffic to retail stores which impacted business revenue and loss.
LATEST TRENDS
Advancement in Recycling Technologies Lead to Market Expansion
The advancement in recycling technologies and the development of efficient processes to increase productivity and reduce energy and resource usage lead to businesses investing more in development enhance product quality through technological advancement which ultimately results in market expansion. The recovery of higher quality zinc from secondary sources due to advancements in recycling technologies helps the business to reduce dependence on primary zinc mining as virgin zinc is rising in price.
Zinc Waste Recycling and Reusing Market Segmentation
By Type
Based on type, the Zinc Waste Recycling and Reusing market is segmented into:
Recycle: Zinc is recycled at different stages of production and use such as during emissions arising from the production of galvanized steel sheets from scrap generated from manufacturing and installation processes and from products when they turn into waste.
Reuse: It is the process when any product made of zinc-containing material can be recycled to extend the functional service such as lighting and hardware in zinc products used in buildings after the end of building life the zinc products are used be collected from the building.
By Application
Based on application, Zinc Waste Recycling and Reusing market is segmented into:
Medicines: The recycling and reusing of zinc waste in medicines are used for economically viable practices and are environment friendly as zinc waste is produced from several industrial processes and can be treated and repurposed for pharmaceutical applications such as industrial waste in the form of zinc oxide residues, other forms of zinc-containing materials and scraps which is collected and waste is then treated to remove containments and impurities.
Cosmetics: Zinc waste has multiple benefits in cosmetics same as medicine industrial waste is waste products which are discarded products from industrial processes that can be collected and processed and it involves cleaning refining, and sorting the waste material to remove impurities and ready-to-use the zinc waste can be used into cosmetic ingredients suitable for cosmetics formulations. Zinc compounds, such as zinc stearate or zinc oxide, are commonly used in cosmetics for their various properties, which include UV protection, oil absorption, and skin soothing.
Paint: Recycling and reusing zinc waste in paint production can be an effective way to reduce environmental impact and promote sustainability. Zinc waste, such as scraps or zinc oxide residues from various industrial processes, can be repurposed for use in paint manufacturing. Zinc waste can be recycled and reused in paint. The collected waste is then processed to remove impurities and contaminants, ensuring that it meets quality standards for use in paint production. Processed zinc waste can be converted into paint ingredients, such as zinc oxide or zinc dust. These compounds are mainly used in paint formulations for their corrosion resistance, UV protection, and multiple benefits.
Batteries: Zinc waste in batteries can play a major role in promoting sustainability and reducing environmental impact. Zinc waste from various sources, including spent batteries or industrial processes, can be repurposed for use in battery production. Zinc waste can be recycled and reused in batteries.
Rubber: Zinc waste in rubber products can be beneficial for both cost-effectiveness and environmental sustainability. Zinc waste, such as zinc oxide or other zinc-containing materials, can be treated and repurposed for use in rubber manufacturing. Zinc waste can be recycled and reused in rubber production as the collected waste is then processed to remove impurities and contaminants, ensuring that it meets quality standards for reuse in rubber manufacturing.
Others: The use of zinc waste recycling and reusing is done in various sectors such as in metallurgical processes, fertilizer production, Ceramics and glass, textiles, water treatment, and various other fields.
Driving Factors
Zinc Recycling & Reuse Witness Market Growth Due to its Multiple Applications
The zinc recycling market has various industrial applications such as in the transportation industry, packaging industry, construction industry, and electronics industry and the use of zinc in the automotive sector is to coat and galvanize automotive parts. In the manufacturing industry zinc is utilized in manufacturing containers and cans. The purpose of zinc in the construction industry is for corrosion protection as a structural material and in the electronics segment recycled zinc is used for the production of electrical components and batteries and so the application of zinc is wide and it ultimately helps the business to grow which results the Zinc Recycling and Reusing Market Growth.
Environmental Concerns & Conservation of Resources Lead to Increase in Market Share
The rise in environmental awareness and concerns about resource depletion and pollution drive the recycling and reuse of zinc waste as it prevents energy consumption and increases the recovery of higher quality zinc from secondary sources due to advancements in recycling technologies help the business to reduce dependence on primary zinc mining and recycling reduces the need for new zinc extraction, conserves natural resources, and minimizes the environmental impact associated with zinc mining and processing which help to increase Zinc Recycling and Reusing Market Share.
Restraining Factors
Technological Challenges & High Initial Cost Lead to Negative Impact on Market
The use of inefficient or outdated recycling technologies may make it challenging for the workforce to effectively process and reuse zinc waste and lack of access to advanced equipment and expertise can impede recycling efforts. The high initial investment for recycling infrastructure and equipment can be a constraint, especially for small businesses or industries operating on tight budgets which ultimately impacts business and also hampers market growth which makes business players deliver quality standard products to stay ahead in the competition but due high initial cost the reduction in R&D budget which impact the product innovation also.
Zinc Waste Recycling and Reusing Market Regional Insights
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.
North America is the largest Zinc Waste Recycling Market
North America has the largest Zinc waste recycling and reuse infrastructure which is well-developed recycling infrastructures and exports various types of scrap materials to countries with high demand for raw materials or recycling capabilities the dynamics of the global scrap metal market, including zinc waste, can be influenced by factors such as commodity prices, trade policies, environmental regulations, and technological advancements. Which this region has good use of zinc and proper recycling and reuse of zinc helps this region to generate repurposed zinc for various industrial applications.
Key Players
Key players transforming the Zinc Waste Recycling and Reusing Market landscape through innovation, new development, and advancement of technology.
Major industry players are pivotal in shaping the Zinc Waste Recycling and Reusing market, driving change with innovation and technologies and it leads to making a product that has a global presence. By consistently introducing new and effective solutions that help to stay at the forefront of technological progress key players redefine the industry’s standards.
Expansive global reach enables market penetration, addressing diverse needs across countries. The groundbreaking and seamless innovation with the help of strategic footprint positioning leads to establishing quality and effective standards to make the market more competitive.
List of Market Players Profiled
- Recylex (France)
- Befasa (Luxembourg)
- Grupo Promax (Mexico)
- Rezinal (Belgium)
- Imperial Group (U.S)
Recent Development
2022: Recylex has been exploring advanced metallurgical processes, such as hydrometallurgy and pyrometallurgy, to optimize zinc extraction from various secondary sources. These technologies offer higher yields and lower energy consumption as compared to traditional methods, which enables Recylex to recover zinc more effectively from complex waste streams. Recylex has focused on creating proprietary methods for treating specific types of zinc-containing materials, such as electronic waste and automotive batteries.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market’s components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including the market share of significant competitors. Overall, it offers valuable and comprehensive insights into market insights in a formal and easily understandable manner.
