Lead Market - Global Industry Assessment & Forecast
- By Types 99.994%, 99.99%, 96%, Other Types
- By Applications Bullets & Shots, Ammunition, Construction, Plumbing, Electronics, Batteries, Solders, Marine, Other Applications
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 19.6 Billion|
|Revenue 2030:||USD 29.0 Billion|
|Revenue CAGR (2022 - 2030):||5.8%|
|Fastest Growing Region (2022 - 2030)||Asia Pacific|
|Largest Region (2022):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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The Global Lead Market is valued at USD 19.6 Billion in 2022 and is projected to reach a value of USD 29.0 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.8% over the forecast period.
Lead is a chemical element with the symbol Pb and has an atomic number of 82. It is a heavy metal and is dense than a wide variety of common materials. It is also soft and extremely malleable, which gives it an extremely low melting point. The primary driving factors for the global Lead market to flourish can be attributed to the widening demand for energy storage for mobile and stationary applications. Additionally, awareness of the benefits of employing Lead in electric vehicles is rising. A higher electric vehicle adoption is expected to increase the footprint of the global Lead market during the forecast period.
Lead Market Size, 2022 To 2030 (USD Billion)
Integration of smart-grid technologies is expected to populate the market growth for the Lead during the long term. Developing economies such as China and India have shown a clear indication of shifting towards these technologies as their primary source of delivering power. Increasing investments in smart grid technologies combined with widening applications for electric vehicles, such as stop-start and hybrid vehicles, are expected to contribute to the global market growth during the forecast period. The widening adoption rate among emerging economies of electric vehicles will add to the market value. Additionally, studies have indicated that countries such as India will rely heavily on adopting two and three-wheeled electric vehicles, contributing a sustainable amount to the global Lead market.
A budding construction sector on a global scale will enable the Lead market to flourish at an exceptional rate. Lead is heavily used in roofing materials, gutter and gutter joints, and roof parapets. The increasing population has led to a housing crisis in many economies. Additionally, with many countries lifting their COVID-19 restrictions imposed on the general population, office spaces need to be renewed as they are due for maintenance after a prolonged break. Consumers are spending more on maintaining their residential properties and adding more features. These factors will support the growth of the Lead market globally.
Electric vehicles are a major adopter of Lead-based SLI batterers due to their versatile performance. Manufacturers of electric vehicles are even capitalizing on the rising battery demand by sourcing their supply chains by integrating their production of Lead. However, the market is plagued by various challenges, such as higher production costs and the easy availability of substitutes. Additionally, rising competition for lithium-ion batteries for electric vehicles is expected to harm the growth of Lead-based SLI batteries, hampering the growth of the global Lead market.
If the world economy has yet to enter a recession, many experts believe it will by 2023. Despite many economies exhibiting confidence in a stabilizing economy, the global labor market is becoming more constrained. The Federal Reserve and other central banks have increased the likelihood of a US recession from 50% in 2022 to more than 75% in 2023, though, within the US economy. In response to Russia's unjustified march into Ukraine, its neighbors imposed severe economic sanctions beginning in February 2022. Developed nations with sanctions against Russia include the EU and the United States.
Top Market Trends
1. Rising Adoption of Electric Vehicle to Propel Market Growth: Global vehicular production is inclining towards electric vehicles. Studies have indicated an electric vehicle overhaul in terms of production. The market for conventional combustion engines is expected to decline over the next few decades.
2. Increasing Consumption of Electronic Products: Lead is used in a battery form in various consumer electronics, including mobile phones, laptops, tablets, and monitors. The electrical and electronic sector presents a huge potential for the global Lead battery to capitalize. According to the Japan Electronics and Information Technology Industries Association (JEITA), the global electronics and IT industry's production was over USD 2,950 billion in 2020. It is expected to experience a growth rate of over 7% annually.
3. Widening Applications for Lead Batteries: Valve-regulated Lead-acid (VRLA) batteries have found their usage within various applications, such as off-grid power systems, telecom tower backup systems, solar/photovoltaic systems, computer UPS, and others.
4. Expanding Construction Sector: A budding construction sector within emerging economies such as China and India is expected to propel the global Lead market during the forecast period. In 2020, the Chinese construction industry was valued at nearly USD 1,020 billion and was expected to grow at nearly 6.5%. Lead is used in the construction sector in cornices, gutters, parapets, electrical conduits, etc.
5. Improved Government Focus Towards Production and Refining Facilities: This Lead grade has various impurities such as arsenic, selenium, tellurium, bismuth, antimony, silver, copper, nickel, zinc, and tin. Various government agencies focus on improving the refining capacities and abilities of the 96% grade Lead. This Lead grade has various impurities, such as arsenic, selenium, tellurium, bismuth, antimony, silver, copper, nickel, zinc, and tin.
The global Lead market can be categorized into Types, Applications, and Region. The market can be segmented into 99.94%, 99.99%, 96%, and Other Types based on the segment Types. In addition, based on Applications, the market can be fragmented across Bullets & Shots, Ammunition, Construction, Plumbing, Electronics, Batteries, Solders, Marine, and Other Applications. Likewise, the market is segmented based on Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Below tree is interactive. You can click the nodes to get more information.
Based on Types
99.94 Lead to Dominate Market Share Owing to Widening Applications
The segment 99.94% Lead is expected to register the largest market share in revenue and sales. This grade of Lead is widely utilized as it is produced within various developed economies such as the United States and Germany. They exhibit the most corrosive resistance of Lead and its alloys. They are also used for making pigments, Lead oxides, and other Lead chemicals. The Lead grade of 99.99% will grow with the fastest-growing CAGR during the forecast period owing to their desirable chemical properties.
Based on Applications
Batteries to Fuel Largest Market Ownership Due to Rising Utilization of Electric Vehicles
Lead-acid batteries will dominate the global Lead market during the forecast period. Factors such as rising utilization of such batteries in the form of starting, lighting, and ignition (SLI) batteries, stationary batteries (Within the sectors of telecom, UPS, and energy storage systems (ESS)), and portable batteries (Consumer electronic products) will contribute to the segmental growth. Additionally, SLI Lead batteries are designed for usage within the automobile sector and are installed within the vehicle's charging system. These batteries often provide power for numerous features within the vehicle. The construction sector is expected to grow with the fastest growing CAGR during the forecast period owing to increasing demand for residential and commercial infrastructure due to the booming population.
Based on Region
Asia Pacific to Occupy Largest Market Share While Europe to Grow at the Fastest Rate
The Asia Pacific will dominate the global Lead market by registering as the largest region in sales and revenue. The region is a breeding ground for increased adoption of smart grid technologies, of which SLI Lead acid batteries are a major part. Rising house requirements will Lead to a booming construction sector, fuelling the Lead market. Additionally, increased adoption of electric vehicles among various economies such as Japan, China, Australia, and India will widen the market's scope. Increased focus on renewable energy combined with rising utilization of Lead for roofing, cladding, and flashing/weathering operations will contribute towards sustainable market growth in the Asia Pacific.
North America is expected to grow with the fastest growing CAGR during the forecast period owing to the general population inclining towards increased spending on automobiles and maintaining their residences. Rising demand for Lead is expected to arise from varied sectors such as batteries, cable sheaths, machine manufacturing, shipbuilding, and Lead oxides, among others.
The global Lead industry is expected to widen its competitive landscape due to the presence of dominant players. Players also focus on increasing their production capacities to match the demand-supply gap. Additionally, the players present in the market are employing various strategies such as mergers & acquisitions and improving their supply chains to widen their consumer base.
The key players in the global Lead market include - East Penn Manufacturing Co. Inc (US), Vedanta Resources (UK), Teck Resources (Canada), Johnson Control Inc. (US), Canada Metal (US), M.A. Metal (Scotland), Gravita India (India), KOREAZINC (South Korea), MMG (Australia), Glencore (Switzerland), South32 (Australia), Nyrstar (Netherlands) among others.
Recent Market Developments
· April 2020: To increase the utilization of Lead-acid batteries within EVs, the Ministry of Finance of the People's Republic of China issues a notice for promoting financial subsidies. The issues notice said that any electric vehicles purchased between January 1st, 2020, and December 2022 would be exempt from vehicle purchase tax.
· June 2019: Gravita Metals announced that they began commercial production at their recycling plants based within their African plants, Tanzania and Ghana. The recycling plant in Ghana had a production capacity of 12,000 tons of Lead annually, wherein the plant in Tanzania had an annual production capacity of 3,000 tons. This move is expected to increase the production capacity of Gravita Metals and widen its market share.
Segmentation of the Global Lead Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Lead in terms of revenue?
The global Lead valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 5.8%.
Which are the prominent players in the market?
The prominent players in the market are East Penn Manufacturing Co. Inc (US), Vedanta Resources (UK), Teck Resources (Canada), Johnson Control Inc. (US), Canada Metal (US), M.A. Metal (Scotland), Gravita India (India), KOREAZINC (South Korea), MMG (Australia), Glencore (Switzerland), South32 (Australia), Nyrstar (Netherlands).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.8% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Lead include
- Growing Demand for Lead-acid Batteries
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Lead in 2020.