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.
FAQs
• What is the current price of Zinc Carbonate in Q2 2025?
The Zinc Carbonate Spot Price in India stood at INR 136,000 per tonne in Q2 2025. U.S. prices remained steady, while Europe recorded a mild price increase.
• Who are the top Zinc Carbonate producers in the United States?
Major U.S. producers include Shepherd Chemical Company, ReAxis Inc., and American Elements, catering to industrial, pharmaceutical, and agriculture-grade markets.
• What is the global Zinc Carbonate Demand Outlook for Q3 2025?
The Zinc Carbonate Demand Outlook remained strong globally, driven by continued expansion in healthcare supplements, fertilizer blends, and rubber additives.
• What was the Zinc Carbonate Production Cost Trend in Q2 2025?
The Zinc Carbonate Production Cost Trend remained slightly upward in the U.S. and Europe due to energy and compliance costs, while India maintained a steady trend with manageable upstream inputs.
