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The global lead smelting and refining market was valued at USD 22.99 Billion in 2023 and growing at a CAGR of 4.50% from 2023 to 2032. The market is expected to reach USD 35.70 Billion by 2033. China is responsible for most of the base metals. Lead is used in the making of lead batteries largely for power vehicles. These batteries are also applied in small-scale power storage or for large, grid-scale power systems. 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.
It has been observed that the growing demand from the Indian and Chinese automotive sectors is one of the factors that eventually drives the market, especially in Asian countries. The complex interplay of economic, industrial and environmental factors drives the lead smelting and refining market. 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. The growing development in new battery technologies, especially for hybrid and battery electric vehicles, is replacing the internal combustion engine, and the conventional demand for lead acid batteries is also there. Growing penetration of vehicles and their production, expanding infrastructure and telecom networks like the 4G and 5G projects are eventually supporting the market growth.
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The implementation of stringent fuel economy and emission norms– Emissions of air pollutants are the most substantial environmental cause of premature death across the globe and lead to respiratory conditions, major healthcare costs and lost working days. Based on recent data, three air pollutants alone (NO2, PM 2.5, and O3) are accountable for 400,000 premature deaths yearly in the EU, including some 70.000 directly linked to nitrogen dioxide (NO2). Urban transport is among the reasons for the breach of air pollution limits in many urban areas. In the last decades, the Commission has directed EU measures to progressively decrease emissions of air quality contaminants from road automobiles by enhancing the grade of fuels and setting increasingly stringent emission limitations for new vehicles. Thus, with the increasing norms, automotive manufacturers are also increasingly implementing intelligent start-stop systems in their ranges to reduce fuel emissions. It also drives the EVs growth. All of these factors are eventually driving the lead smelting and refining market.
Increase in investment by the companies for the autonomous car- Many automaker organizations, technology giants, and start-up specialist organizations have invested around USD 50 Billion in the last five years in developing autonomous automobiles and their technology. Approximately 70 per cent of the investment is made by the non-automotive sector. Public authorities see the huge prospect and the social and economic advantage it could provide. Many organizations have launched their R&D project to develop their autonomous vehicle technology. For instance, Nio, a Chinese EV maker, has relaunched the L4 self-driving technology R&D project, which is homegrown. Another study suggests that the automaker anticipated around 1 million robotaxis in 2020. WeRide was fully available to the public in November 2019. These factors eventually drive the lead smelting and refining market.
Environmental regulations – Environmental regulations and stringent compliance needs are restraining lead smelting and refining demand growth. Government and environmental agencies globally impose stringent regulations to mitigate the environmental and health consequences of lead use and its production.
Growing need for electric vehicles across the globe– 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 regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest market for the global lead smelting and refining market, with a 58.34 % share of the market revenue 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. It has become the largest EV production base, with around 7.1 million units making around 70% of the global units made in China for 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. Currently, passengers have become more popular than commercial vehicles, accounting for around 95% of EVs. Also, the commercial vehicle sector is looking for the adoption of EVs, and in China, more than 30 cities are planning to completely electrify the public transit systems by 2028.
Asia Pacific Region Lead Smelting and Refining Market Share in 2023 - 59.34%
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The furnace segment is divided into blast, reverberatory and rotary. The blast segment dominated the market, with a market share of around 62.11% in 2023. This high market share is attributed to the fact that Lead is generally smelted in the blast furnace. The melting leads to many layers formation in the furnace. Coke has its application for melting and decreasing Lead. The limestones react with the impurities and float on the top.
The method segment is divided into solvent extraction, pyrometallurgical and ion exchange. The pyrometallurgical segment dominated the market, with a market share of around 39.85% in 2023. This significant market share is attributed to several advantages it offers, like processing large volumes of ores and producing high-quality metals useful for many industrial applications. It provides high metal recovery rates.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 22.99 Billion |
| Market size value in 2033 | USD 35.70 Billion |
| CAGR (2024 to 2033) | 4.50% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Furnace and Method |
Asia Pacific region emerged as the largest market for the lead smelting and refining.
The market's growth will be influenced by increase in investment by the companies for the autonomous car.
Environmental regulations hamper the market growth.
Growing need for electric vehicles across the globe will provide huge opportunities to the market.
Key players 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 and Nyrstar among others.
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:
Global Lead Smelting and Refining Market by Method:
Global Lead Smelting and Refining by Region:
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