For the Quarter Ending September 2025
North America
• Zinc Carbonate is widely used in pharmaceuticals, cosmetics, ceramics, agriculture (as a micronutrient fertilizer), and rubber manufacturing.
• Zinc Carbonate Spot Price remained relatively stable in July and August, supported by steady demand from the pharmaceutical and agricultural sectors. However, a slight dip was observed in September.
• The Price Index showed a marginal decline in September 2025, reflecting easing raw material costs and improved supply chain efficiency.
• Production costs trended downward in late Q3 due to lower energy prices and improved logistics, especially in the U.S. Gulf Coast region.
• Demand remained strong in the pharmaceutical and fertilizer sectors, but a slowdown in construction and ceramics applications slightly offset overall growth.
• September 2025 Price Change:
• The price decreased in September due to reduced input costs and a temporary dip in demand from the ceramics and rubber sectors, which are sensitive to seasonal and macroeconomic factors.
• Zinc Carbonate Price Forecast: Prices are expected to remain stable or slightly soften in Q4 2025, with potential upside if agricultural demand strengthens ahead of the spring planting season.
APAC
• In India, Zinc Carbonate Price Index rose by 9.08% quarter-over-quarter, driven by feedstock cost increases.
• The average Zinc Carbonate price for the quarter was approximately INR 166500 /MT Ex-Mumbai, per APAC trade.
• Zinc Carbonate Spot Price tightened as port congestion raised offers, lifting the national Price Index.
• Zinc Carbonate Price Forecast projects gains into Q4 supported by seasonal buying and export interest.
• Zinc Carbonate Production Cost Trend remained high as zinc oxide increases consistently pressured manufacturers' margins.
• Zinc Carbonate Demand Outlook stayed resilient from pharmaceuticals and agriculture despite monsoon softness in paints.
• Inventory tightening and pre-procurement ahead of tariffs reduced availability, exerting upward pressure on Price Index.
• Smaller plant curtailments and port backlogs elevated offers while traders balanced short-term risk against expectations.
Why did the price of Zinc Carbonate change in September 2025 in APAC?
Despite elevated zinc oxide feedstock costs increased expenses, forcing manufacturers to decline offers due to muted demand.
• Logistical easing after heavy August rains further flooded the market with inventories.
Europe
• Zinc Carbonate Spot Price in Europe remained relatively firm through July and August, supported by steady demand from the pharmaceutical and agricultural sectors.
• The Price Index showed a modest upward trend in early Q3, driven by tight supply and sustained downstream consumption.
• Production costs were elevated in July and August due to high energy prices and raw material constraints, particularly in Germany and France. However, costs began to ease in September as energy markets stabilized.
• Demand remained robust in the pharmaceutical and fertilizer sectors, while the ceramics and rubber industries showed moderate recovery, contributing to a balanced demand outlook.
• The price decreased in September due to a combination of easing production costs and improved supply chain fluidity, especially as inventories were replenished post-summer.
• The forecast for Q4 2025 suggests a stable to slightly bearish trend, with prices expected to remain under mild pressure unless demand from the construction and ceramic sectors rebounds significantly.
For the Quarter Ending June 2025
North America
• The U.S. Zinc Carbonate Price Index was flat in Q2 2025, as the Spot Price of Zinc Carbonate remained steady because of steady demand from the pharmaceutical and agrochemical industries.
• The price was flat in Q2 as offsetting domestic supply absorbed modestly rising input and packaging costs.
• The trend in Zinc Carbonate Production Cost was marginally higher fueled by adjustments in energy costs and logistical expenses but with zinc oxide feedstock costs remaining under control.
• The U.S. Zinc Carbonate Demand Outlook was stable, underpinned by ongoing absorption in the nutraceutical market and consistent use in feed-grade and fertilizer production.
Europe
• The Zinc Carbonate Price Index in Europe witnessed a modest increase in Q2 2025, mainly due to energy price pressures and heightened freight charges from intra-EU supply chains.
• The price increased primarily because of tightness in logistics and regulatory cost burdens linked to REACH compliance across key producers in Germany and France.
• The Zinc Carbonate Production Cost Trend trended higher due to stricter environmental controls, elevated energy costs, and increasing labor overheads.
• The Zinc Carbonate Demand Outlook remained favorable, particularly from health supplement formulators and organic farming sectors across Central and Western Europe.
• The Zinc Carbonate Price Forecast pointed toward continued firmness through Q3 2025, contingent on sustained energy cost inflation and elevated demand from pharma-grade end users.
APAC (India)
• The Zinc Carbonate Price Index in India surged in April 2025 and continued to remain firm through Q2, with the Zinc Carbonate Spot Price assessed at USD 1565 per tonne amid strong multi-sector demand.
• The price increased in Q2 due to consistent consumption from pharmaceuticals, agriculture, and rubber manufacturing, with stable supply keeping pace with demand.
• The Zinc Carbonate Production Cost Trend remained elevated, driven by higher input and manufacturing costs including labour and packaging, though feedstock zinc oxide supply was uninterrupted.
• The Zinc Carbonate Demand Outlook stayed strong, driven by sustained uptake in zinc-based formulations for human health, Agri-nutrition, and rubber compounding.
• The Zinc Carbonate Price Forecast for Q3 2025 suggested continued firmness, supported by robust activity across all three major end-use sectors and stable raw material conditions.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American Zinc Carbonate market experienced a mixed price trend, influenced by fluctuating automotive demand and tariff-related supply chain dynamics. January began with moderate price increases, supported by a 3.8% year-over-year rise in vehicle sales, led by strong performance in EV and hybrid segments from brands like Honda, Hyundai, and Kia. This early demand boosted procurement of Zinc Carbonate for components such as gaskets and coatings.
In February, prices stabilized as overall auto sales declined by 2.3% year-over-year. Market uncertainty grew following the temporary postponement of 25% tariffs on vehicle imports from Canada and Mexico. Despite this, steady sales from select brands maintained demand for Zinc Carbonate, and supply chains remained largely undisrupted.
March marked a turning point, with a significant price uptick driven by a sharp 9.1% year-over-year surge in vehicle sales. A pre-tariff buying rush ahead of the April 3 tariff implementation pushed sales over 20% higher month-over-month. Light vehicle SAAR rose to 17.8 million units, intensifying demand for automotive-grade Zinc Carbonate. As inventories tightened and OEMs ramped up procurement, prices climbed further. Overall, Q1 ended with a firm price outlook, shaped by strong downstream activity, inventory shifts, and looming trade policy changes.
APAC
In Q1 2025, the price trend of Zinc Carbonate in the APAC region displayed a transition from early-quarter stability to a sharp correction by March. January began on a steady note, with a slight price increase of around 1.2% driven by elevated sulfuric acid costs and consistent supply chain operations, while demand from the automotive and industrial sectors helped maintain a balanced market. In February, prices dipped marginally by approximately 2.5% as global trade uncertainties began to weigh on buyer sentiment, prompting cautious procurement and slight inventory build-up.
Despite continued stability in production and logistics, the market began showing early signs of pressure from volatile feedstock trends and anticipation of external economic shifts, particularly related to U.S. trade policies. By March, the market saw a significant price drop of 8.90%, marking the most notable change of the quarter. This decline was largely due to adjustments in supply-demand dynamics and heightened global trade concerns, despite strong domestic automotive demand and stable manufacturing conditions.
Overall, the quarter closed with a downward trend, shaped by external macroeconomic factors and shifting procurement strategies in response to raw material volatility.
Europe
In Q1 2025, the European Zinc Carbonate market exhibited mixed trends, largely influenced by fluctuating vehicle demand, evolving powertrain preferences, and shifts in domestic production and exports, particularly within Germany’s automotive industry. January began with modest demand support as German car production rose 13% year-over-year and exports surged 19%. This uplift in automotive output drove steady Zinc Carbonate consumption, especially in components like rubber seals and coatings used in EVs and hybrids segments that recorded 53.5% and 15.7% growth, respectively.
February saw weakening fundamentals, with German vehicle registrations down 6.4% and production dipping 3%. However, the continued rise in EV and hybrid adoption up 30.8% and 12% respectively sustained downstream demand for Zinc Carbonate in EV battery casings and emission control parts. Despite this, a 20.8% decline in truck registrations and reduced exports signalled cooling momentum.
March closed the quarter on a relatively stable note. While overall car sales fell 3.9%, German passenger car production rebounded 8%, mirroring a similar gain in exports. Zinc Carbonate demand benefited from the sustained expansion of EV and plug-in hybrid markets up 35.5% and 65.8%, respectively.
Overall, Q1 2025 reflected a cautiously optimistic outlook, with green vehicle growth offsetting broader economic drag on traditional automotive output.
