Lead Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Global Lead Industry Growth and Share. The market is segmented by application (ammunition, batteries, construction, electronics, marine, plumbing, and other applications) and geography (Asia-Pacific, North America, Europe, South America, Middle-East and Africa). The market size and forecasts are provided in terms of revenue (USD million) for all the above segments.

Lead Market Size

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Lead Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 3.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Lead Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Lead Market Analysis

The lead market is estimated at 10.32 million tons currently and is expected to reach 12.21 million tons over the forecast period, registering a CAGR of over 3% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, construction activities and automotive production were stopped temporarily during the lockdown to curb the spread of new COVID-19 cases, thereby decreasing the demand for lead-based products such as lead batteries, lead sheets, lead-clad steel, and others from the industries. However, the market gained momentum in 2022 and is expected to grow in the forecast period.

  • Over the short term, the growing demand for lead-acid batteries in electric vehicles is expected to drive market growth.
  • On the flip side, the increasing adoption of lithium-ion batteries and other substitutes is expected to hinder the market's growth.
  • The increasing number of solar power projects acts as an opportunity for the lead market to grow soon.
  • Asia-Pacific is expected to dominate the global lead consumption, with most of the demand coming from China, South Korea, Japan, and other countries.

Lead Market Trends

Battery Segment is Expected to Dominate the Market

  • Lead and lead compounds have been used in various home products, including paint, ceramics, batteries, etc. Batteries hold the largest share of lead usage as it makes it most reliable. Lead batteries are inexpensive and renewable energy sources and are thus considered eco-friendly.
  • The increasing demand for motor vehicles and growth in using renewable energy sources with the need for storage batteries is directly proportional to the increasing demand for lead-acid batteries. The batteries contain large amounts of lead as solid metal or lead-oxide powder. An average battery can contain up to 10 kilograms of lead.
  • As per the United Nations Environment Programme (UNEP), approximately 86% of the total global consumption of lead is for producing lead-acid batteries mainly used in motorized vehicles, storage of energy generated by photovoltaic cells and wind turbines, and backup power supplies.
  • According to International Lead and Zinc Study Group (ILZSG), in 2022, the global demand for refined lead metal exceeded supply by 99 kilotonnes. In 2022, refined lead metal production from recycled raw material accounted for 65.5% of global production, compared to 65.1% in the previous year.
  • Lead-acid batteries are used in the form of starting, lighting, and ignition (SLI) batteries, stationary batteries (telecom, UPS, energy storage systems (ESS), etc.), portable batteries (consumer electronics, etc.), and more.
  • It is commonly used as an automotive battery for starting the engine and as the main energy source for electric vehicles such as motorized wheelchairs, golf carts, and electric scooters.
  • According to International Energy Agency (IEA) report, in 2022, 10.5 million electric cars were sold worldwide, and the sales are expected to grow by another 35% to reach 14 million. The total vehicle sales reached 73.8 million, with electric cars accounting for 14.2%.
  • As per the World Economic Forum (WEF), nearly 4.3 million new battery-powered EVs (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022, enhancing the demand for materials such as lead used in batteries.
  • Therefore, the aforementioned factors are expected to impact the lead market in the coming years significantly.
Lead Market - Electric Vehicles Sales Worldwide, Thousand Units, 2019-2022

Asia-Pacific Region is Expected to Dominate the Market

  • Asia-Pacific is expected to dominate the lead market, with the majority of the demand coming from China, Japan, and India.
  • Lead-acid batteries are used in electric vehicles (EVs), mainly commercial EVs, to supplement other ancillary loads. China is currently the largest market for electric vehicles. In April 2022, new energy vehicle sales amounted to 299,000 units in China. Out of the total sales units, 280,000 were passenger electric vehicles, and 19,000 were commercial electric vehicles.
  • The government of China is working on various initiatives focused on the development of small and affordable electric vehicle models. Some of the EVs' prices have been kept below USD 10,000, which caters to a wider audience due to their affordability.
  • Many large electric vehicle manufacturers are investing in the establishment of plants for the production of electric vehicles in the country. For instance, in February 2022, Tesla built a second electric vehicle (EV) facility in China to help it keep up with increasing demand both locally and in export markets. The company increased its capacity in China to at least 1 million cars per year.
  • In January 2022, Honda, in partnership with Dongfeng Motor, announced plans to build a second assembly plant for all-electric vehicles in China. The manufacturing at the plant is expected to begin in 2024, with an initial annual capacity of 120,000 vehicles.
  • Various government initiatives taken by countries are helping boost the demand for electric vehicles. The government of India has undertaken multiple initiatives to promote the manufacturing and adoption of electric vehicles in India to reduce emissions in accordance with international conventions and develop e-mobility in the wake of rapid urbanization.
  • Thailand is also slowly emerging as a hub for EVs and hybrid vehicles. In 2022, the hybrid EV sales volume in Thailand reached almost 42,000, the highest among other types of EVs. According to the Federation of Thai Industries (FTI), in 2023, Thailand's EV market will continue to gain momentum, with sales expected to reach between 25,000 and 35,000 units.
  • In the construction industry, lead is commonly used as a specialist material. It can be found in construction materials, such as paints, coatings, concrete, mortar, solder, and sheet metal.
  • As per the U.S. International Trade Administration, China is the world's largest construction market and is forecasted to grow at an annual average rate of 8.6% till 2030. According to National Development and Reform Commission (NDRC) data, China has planned an investment of USD 1.43 trillion in the coming years till 2025 in some of the major construction projects.
  • The Japanese construction industry is expected to boom due to some major events to be hosted in the country. The World Expo will be hosted by Osaka in 2025. The country built high-rise towers, a 37-story, 230m tall office tower for Tokyo Stations in 2021. The construction of a 61-storey, 390-m tall office tower is due for completion in 2027
  • Therefore, the aforementioned factors are expected to have a significant impact on the lead market in the region in the coming years.
Lead Market - Growth Rate by Region, 2023-2028

Lead Industry Overview

The lead market is partially fragmented in nature, with no major player having a clear dominance over the market. Some of the key players in the market include Glencore, KOREAZINC, Teck Resources Limited, Canada Metal North America Ltd, and Gravita India Ltd, among others.

Lead Market Leaders

  1. Canada Metal North America Ltd

  2. Glencore

  3. Gravita India Ltd


  5. Teck Resources Limited

*Disclaimer: Major Players sorted in no particular order

Lead Market Concentration
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Lead Market News

Recent developments pertaining to the market studied will be covered in the complete report.

Lead Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Rising Demand for Lead-Acid Batteries in Electric Vehicles

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Increasing Adoption of Lithium-Ion Batteries and Other Substitutes

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Ammunition

      2. 5.1.2 Batteries

      3. 5.1.3 Construction

      4. 5.1.4 Electronics

      5. 5.1.5 Marine

      6. 5.1.6 Plumbing

      7. 5.1.7 Other Applications

    2. 5.2 Geography

      1. 5.2.1 Production Analysis

        1. Australia

        2. Bolivia

        3. China

        4. India

        5. Kazakhstan

        6. Mexico

        7. Peru

        8. Russia

        9. Sweden

        10. Turkey

        11. United States

      2. 5.2.2 Consumption Analysis

        1. Asia-Pacific

          1. China

          2. India

          3. Japan

          4. South Korea

          5. ASEAN Countries

          6. Rest of Asia-Pacific

        2. North America

          1. United States

          2. Canada

          3. Mexico

        3. Europe

          1. Germany

          2. United Kingdom

          3. France

          4. Italy

          5. Rest of Europe

        4. South America

          1. Brazil

          2. Argentina

          3. Rest of South America

        5. Middle East and Africa

          1. Qatar

          2. South Africa

          3. Rest of Middle East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Canada Metal North America Ltd

      2. 6.4.2 East Penn Manufacturing Company

      3. 6.4.3 Glencore

      4. 6.4.4 Gravita India Ltd

      5. 6.4.5 Johnson Controls

      6. 6.4.6 KOREAZINC

      7. 6.4.7 M. A. Metal Corporation

      8. 6.4.8 Nyrstar

      9. 6.4.9 Teck Resources Limited

      10. 6.4.10 Vedanta Resources Limited (Hindustan Zinc)

    5. *List Not Exhaustive

    1. 7.1 Increasing Number of Solar Power Projects

      1. 7.1.1 Other Opportunities

**Subject to Availability
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Lead Industry Segmentation

Lead is a soft, dull, malleable chemical element with the symbol Pb, which can be derived from mined ores such as lead sulfide (PbS) galena, cerussite (lead carbonate), anglesite (lead sulfate), and scraps, including batteries, pipes, etc. Lead finds its major application in lead-acid batteries, followed by pigments, ammunition, cable sheathing, and others. The lead market is segmented by application and geography. The market is segmented by application into ammunition, batteries, construction, electronics, marine, plumbing, and other applications. The report also covers the market sizes and forecasts for the lead market in 15 countries across the major regions. For each segment, the market sizing and forecasts have been done based on volume (tons).

Other Applications
Production Analysis
United States
Consumption Analysis
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East and Africa
South Africa
Rest of Middle East and Africa
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Lead Market Research FAQs

The Lead Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Canada Metal North America Ltd, Glencore, Gravita India Ltd, KOREAZINC and Teck Resources Limited are the major companies operating in the Lead Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Lead Market.

The report covers the Lead Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Lead Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Lead Industry Report

Statistics for the 2024 Lead market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Lead analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Lead Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)