Newark, April 10, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global lead smelting and refining market is expected to grow from USD 22.99 Billion in 2023 to USD 35.70 Billion by 2033, at a CAGR of 4.50% during the forecast period 2024-2033.
Based on one of the studies, the lead acid battery sector will be responsible for over 90% of US lead consumption in 2022. Lead smelting is the manufacturing process that creates lead. Once, there were many lead smelting organizations all across the US and other countries of the world. Lead is still needed for daily tasks, eventually driving the lead smelting and refining market.
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Competitive Strategy
To enhance their market position in the global Lead Smelting and Refining market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In December 2022: Nyrstar organization’s Port Pirie lead smelter has planned to ramp up production in Australia after the completion of the project to improve efficiency. It would be helpful as, based on many analysts, the lead consumption worldwide was around 13 million tons in 2022. It eventually helped the organization expand its market share in the Lead Smelting and Refining market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 22.99 Billion |
| Market Size in 2033 | $ 35.70 Billion |
| CAGR | 4.50% |
| No. of Pages in Report | 236 |
| Segments covered | by Furnace, Method, Regions |
| Drivers | The implementation of stringent fuel economy and emission norms |
| Opportunities | Growing need for electric vehicles across the globe |
| Restraints | Environmental regulations |
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Market Growth & Trends
The deployment of electric cars has grown fast in the last ten years, as the world reserve of electric passenger cars reached over 5 million in 2018, an upsurge of 63% from 2017. In 2018, approximately 45% of the electric cars on the road were in China, with around 2.3 million units compared to 39% in 2017. Europe and the US accounted for around 24% and 22% of the global fleet, respectively. In comparison, Europe accounted for 24% of the global fleet, and the United States 22%. Lead acid batteries can be used for EVs, can be designed with high power, and are inexpensive. It is also recyclable, safe and reliable. Therefore, the increasing deployment of electric cars will likely provide new growth opportunities for the lead smelting and refining market in the upcoming years. The key drivers are the battery manufacturing sector, especially lead acid batteries, which have applications in automobiles and renewable energy storage. Hence, the expansion in renewable sources, the growing automotive sector, and the construction sector are some factors that create the demand for refined lead. Also, the electronic sector depends on lead for soldering, and the growing adoption of EVs is fueling the market's growth. Moreover, government regulations and the adoption of cleaner processes in lead production influence the market. Also, global economic trends like the growing GDP and infrastructure development positively influence the lead products. There is a growing demand for automobiles, and there are initiatives by the government to boost the penetration of electric vehicles, especially in emerging economies. There is also an investment in R&D to improve the efficiency and cost-effectiveness of the lead smelting and refining procedures. Technological advancements, like advanced automation systems and robotics, help streamline operations and improve the productivity of the procedure. Other than the automotive sector, the industrial battery segment, which caters to data centres, the telecom sector, and financial institutions, is also fueling the growth of the market with an increase in digitalization all across the globe.
Key Findings
• In 2023, the blast segment dominated the market with the largest market share of 62.11% and market revenue of USD 14.28 Billion.
The furnace segment is divided into blast, reverberatory and rotary. In 2023, the blast segment dominated the market with the largest market share of 62.11% and market revenue of USD 14.28 Billion. This high market share is attributed to the fact that Lead is generally smelted in the blast furnace.
• In 2023, the pyrometallurgical segment dominated the market with the largest market share of 39.85% and market revenue of USD 9.16 Billion.
The method segment is divided into the pyrometallurgical segment dominated the market with the largest market share of 39.85% and market revenue of USD 9.16 Billion. It provides high metal recovery rates.
Regional Segment Analysis of the Lead Smelting and Refining Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global Lead Smelting and Refining industry, with a market share of 58.34% and a market value of around USD 13.41 Billion in 2023. This market share is attributed to the growing use of EVs in China. China is considered one of the leaders in the EV world and has expanded its global share from lower than 30% in 2019 to more than 41% in 2022. In China, the sales of EVs have increased from 16% of domestic cars in 2021 to around 29% or 6.9 million vehicles in 2022.
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Key players operating in the global lead smelting and refining market are:
• La Oroya
• Belledune
• Chanderiya Smelter
• Hayden Smelter
• Broken Hill
• KCM
• Red Dog mine
• Teck Trail Operations
• Doe Run Resources Corporation
• Kitwe
• Rönnskär
• Bergsöe lead smelter
• Tara Mine
• Mount Isa Mines
• Nyrstar
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global lead smelting and refining market based on below mentioned segments:
Global Lead Smelting and Refining Market by Furnace:
• Blast
• Reverberatory
• Rotary
Global Lead Smelting and Refining Market by Method:
• Solvent Extraction
• Pyrometallurgical
• Ion Exchange
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About the report:
The global Lead Smelting and Refining market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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