Analysis · November 2026
Zinc in the EU-27 economyvalue, circularity and security of supply
The ten smelters of the EU‑27 produce about 1,800 kt of refined zinc, while steelworks dust, residues and scrap yield about 965 kt of secondary zinc – 43.8% of the zinc first used. The EU imports concentrates and is a net exporter of unwrought zinc, and the value chain with its EU suppliers generates EUR 8.0 bn of value added and about 100,000 jobs.
At a glance
8.0EUR bn
gross value added – zinc value chain with its EU suppliers
100,463jobs
in the zinc value chain and at its EU suppliers
965kt
of secondary zinc – 185 kt from Waelz oxide, 230 kt from secondary refiners and 550 kt remelted directly
43.8%
of the zinc first used in the EU comes from secondary materials
49.5Mt
of zinc in use – 69% of it in galvanized steel (110 kg per person)
766kt CO₂e
of net emissions potentially avoided – 1,110 kt from remelting and secondary refining less 344 kt for the Waelz route
Central values for 2024. The line below each figure shows the 90% uncertainty band (P5–P95) against a scale from zero. Gross contributions, not net effects; taxes are an attribution, not a fiscal balance. Tonnages are zinc content unless gross weight is stated.
Seven findings
EUR 8.0 bn with the supply chain
The extended zinc value chain generated about EUR 4.5 bn of gross value added in 2024 and employed about 57,400 people; with the supply chain inside the EU, EUR 8.0 bn and about 100,500 jobs. Zinc coating and die-casting (Z5) account for 52% of direct value added, zinc smelting (Z3) for 14%.
Recycling: EUR 620 m directly
Collection and trade of zinc scrap and residues (Z1) and Waelz kilns and secondary refiners (Z2) generated EUR 620 m of value added and about 6,300 jobs, EUR 1,170 m with the supply chain. The value added of zinc remelted directly in brass mills, zinc rolling mills and alloy plants is part of the activity of the users of the metal.
EUR 2.7 bn for public finances
Activity in the chain is associated with about EUR 2.7 bn of taxes and social contributions excluding VAT, EUR 1.96 bn of it on labour. Smelter value added (EUR 610 m) includes EUR 230 m of indirect emission cost compensation; without compensation the smelter margin is zero at an electricity price of about EUR 122/MWh, with compensation at about EUR 154/MWh.
49.5 Mt of zinc in use
The dynamic model puts the zinc stock at about 110 kg per person, 69% of it in galvanized steel. End-of-life products released about 1,780 kt of zinc in 2024, 267 kt of it in dissipative uses; about 580 kt was recovered in the EU (38%).
0.77 Mt CO₂e net
With one-for-one replacement of primary zinc at the European average footprint (2.0 t CO₂e/t), remelting and secondary refining potentially avoided 1.11 Mt CO₂e, while the Waelz route (3.86 t/t) added 0.34 Mt. The sign depends on the reference footprint: from −0.14 Mt against Nyrstar zinc from primary feed only to 2.2 Mt against the global average.
Concentrates imported, metal exported
EU mines correspond to 24%, primary smelting to 73% and smelters and secondary refiners together to 92% of the zinc first used. Concentrates come mainly from Peru (22%), Bolivia and Mexico. The EU exported 554 kt of unwrought zinc and imported 224 kt; 54% of zinc scrap exports went to India.
More circularity needs more scrap
In the high-circularity scenario (2035) secondary zinc rises to 1,168 kt and direct value added to EUR 4.8 bn; the additional secondary feed exceeds the growth of domestic scrap by about 196 kt of zinc, and net exports of unwrought zinc rise to 475 kt.
From ore to galvanizer – six links
The EU‑27 is treated as one economy: deliveries between Member States are domestic, and only trade with countries outside the EU is foreign trade. The ZN‑EU model covers six segments – from polymetallic ore mines to zinc coating and die-casting.
Zinc mining
Polymetallic ore mines, mainly in SE, PT, ES, FI and IE
- EUR m GVA
- 560
- jobs
- 3,709
Scrap collection and trade
Zinc share of waste and scrap trade and materials recovery
- EUR m GVA
- 370
- jobs
- 4,530
Secondary zinc
Seven Waelz plants and secondary refiners
- EUR m GVA
- 249
- jobs
- 1,816
Zinc smelting
Ten smelters, incl. an Imperial Smelting furnace
- EUR m GVA
- 610
- jobs
- 4,995
Rolled zinc, dust and alloys
Titanium-zinc sheet, dust for anti-corrosion paints, alloys
- EUR m GVA
- 363
- jobs
- 3,027
Zinc coating and die-casting
Hot-dip and electrolytic zinc coating, zinc-alloy die-castings
- EUR m GVA
- 2,315
- jobs
- 39,300
First use of zinc
galvanized steel · brass · castings · rolled zinc · chemicals
2,203 ktof zinc first used in the EU, 2024
Economy
Value added, jobs and taxes
Environment
Avoided emissions, the Waelz route and tailings
Strategy
Concentrate imports, metal and scrap exports, coverage of first use
EUR 8.0 bn of value added and 100,000 jobs
EU suppliers add EUR 3,520 m of value added and about 43,100 jobs, household spending a further EUR 2,080 m and about 27,300 jobs. The value-added multiplier is 1.79 (type I) and 2.26 (type II).
- Direct
- EU supply chain
- Employee spending
Gross value added, EUR m
Jobs
Gross contribution at fixed input-output coefficients, not net jobs. More than half of direct value added comes from zinc coating and die-casting, whose zinc shares are set by allocation keys.
EUR 2.7 bn of taxes; compensation is 38% of smelter value added
Activity in the chain is associated with about EUR 2,690 m of taxes and contributions excluding VAT: EUR 1,260 m in the segments, EUR 910 m at suppliers and EUR 520 m from household spending. Lead, zinc and tin production (NACE 24.43) is eligible for indirect emission cost compensation; only some Member States publish amounts by company.
Taxes and contributions by category, EUR m, 2024
Value added per person employed, EUR thousand, 2024
SourceTaxes excluding VAT; model estimates – an attribution, not a fiscal balance. Free allocation of emission allowances (about EUR 106 m) is not deducted; indirect emission cost compensation (EUR 230 m) is part of smelter value added.
965 kt of secondary zinc – three routes
Waelz kilns recover zinc from electric-arc-furnace dust as an oxide that smelters leach and electrowin. Secondary refiners distil and remelt drosses, ashes and scrap, and brass mills, zinc rolling mills and alloy producers remelt scrap directly. Statistics report none of these routes separately.
kt, 2024
Domestic supply of zinc in scrap and residues – two methods, kt
- End-of-life scrap (dynamic model) · 579
- New scrap and residues · 308
- Residual estimate (feed and extra-EU trade) · 1,099
SourceResidual estimate: zinc in secondary feed (1,036 kt) plus net exports of zinc in scrap, hard zinc, ashes and brass scrap (63 kt). It exceeds the bottom-up estimate by 212 kt (90% band 127–345 kt); the residual is not attributed to any item.
49.5 Mt of zinc – mostly in galvanized steel
The dynamic model of zinc in use (1960–2035) links the industry to the stock from which end-of-life scrap flows. Recovery from galvanized steel is bounded by steelworks dust: zinc returns only from scrap melted in electric-arc furnaces. The stock reaches 50.9 Mt in 2035 and recovery about 600 kt.
Zinc stock in use in the EU‑27, Mt
Stock in use by product group, Mt, 2024
Secondary zinc: 1.21 t CO₂e against 2.0 t for European primary
Primary zinc produced in Europe has a footprint of 2.0 t CO₂e per tonne, against 3.5 t on global average. Scrap remelting and secondary refining have lower footprints, while the Waelz route – processing steelworks dust in rotary kilns with coke, then leaching and electrowinning – has a higher one. On average secondary zinc carries 1.21 t CO₂e per tonne.
Carbon footprint of a tonne of zinc, t CO₂e (cradle to gate)
Net emissions potentially avoided, 2024
766 kt CO₂e
Net emissions potentially avoided by variant, kt CO₂e
What secondary zinc produced in the EU helps avoid
- About 7.7 Mt of tailings and 16.9 kt SO₂-eq of acidification a year.
- 880 kt CO₂e from direct remelting and 230 kt from secondary refining; the Waelz route adds 344 kt.
- The Waelz route processes about 840 kt of steelworks dust – a hazardous waste (code 10 02 07*) – and recovers its zinc.
Verified emissions of the ten zinc smelters in the EU ETS were 1,040 kt CO₂e in 2024, those of the seven stand-alone Waelz plants 409 kt. The result depends more on the counterfactual (−199 to 2,349 kt) than on the screening values.
Importer of concentrates, exporter of unwrought zinc
The EU imports zinc ores and concentrates from outside the EU – mainly from Peru, Bolivia and Mexico – and exports unwrought zinc, mainly to Türkiye, Singapore and Egypt. Unwrought zinc imports come 45% from Norway, while exports of zinc waste and scrap go mainly to India and Thailand.
Balance of extra-EU zinc trade by stage of processing, EUR m
- Scrap, hard zinc and ashes
- Zinc dust and products
- Unwrought zinc
- Ores and concentrates
Largest extra-EU partners, 2024 · 1,920 kt
- PE420.5
- BO312.5
- MX297.2
- US247.1
- TR143.9
- AU111.8
- CA67.1
- MK53.0
Largest extra-EU partners, 2024 · 54 kt
- IN29.5
- TH15.9
- MY4.5
- UK1.2
- HK0.7
- UA0.6
- TW0.4
- TR0.3
Where the zinc industry operates in the EU‑27
Polymetallic ore mines operate in Sweden, Portugal, Spain, Ireland and Greece, and also in Finland and Bulgaria. Ten zinc smelters operate in nine Member States, and seven stand-alone Waelz plants in Germany, Spain, France, Sweden and Italy.
- Zinc ore mines
- Zinc smelters
- Stand-alone Waelz plants
List of installations
- Boliden GarpenbergGarpenberg (SE) · Zinc ore mineszinc, lead and silver mine
- BolidenBoliden (SE) · Zinc ore minespolymetallic mines in the Boliden Area
- ZinkgruvanZinkgruvan (SE) · Zinc ore mineszinc and lead mine, part of Boliden since April 2025
- Neves-CorvoCastro Verde (PT) · Zinc ore minescopper and zinc mine, part of Boliden since April 2025
- Almina, AljustrelAljustrel (PT) · Zinc ore minespolymetallic mine; no zinc output in 2024, zinc recovery resumed in Q4 2025
- MATSA (Sandfire)Almonaster la Real (ES) · Zinc ore minespolymetallic mines
- Boliden TaraNavan (IE) · Zinc ore mineszinc and lead mine; care and maintenance from July 2023 to August 2024
- OlympiasOlympiada (EL) · Zinc ore minespolymetallic mine
- Asturiana de Zinc (Glencore)San Juan de Nieva (ES) · Zinc smelterszinc smelter, 515 kt in 2024
- Nyrstar BalenBalen (BE) · Zinc smelterszinc smelter
- Boliden KokkolaKokkola (FI) · Zinc smelterszinc smelter, 302 kt in 2024
- Nyrstar BudelBudel-Dorplein (NL) · Zinc smelterszinc smelter; strategic review announced on 24 September 2026
- Nyrstar AubyAuby (FR) · Zinc smelterszinc smelter, 150 kt in 2024
- Nordenhamer Zinkhütte (Glencore)Nordenham (DE) · Zinc smelterszinc smelter; restarted in February 2024
- Glencore PortovesmePortovesme (IT) · Zinc smelterszinc and lead smelter; zinc line stopped on 23 December 2024
- KCMPlovdiv (BG) · Zinc smelterszinc and lead smelter
- ZGH BolesławBukowno (PL) · Zinc smelterselectrolytic zinc smelter with Waelz kilns
- Huta Cynku Miasteczko ŚląskieMiasteczko Śląskie (PL) · Zinc smeltersImperial Smelting furnace, the only one in the EU; zinc and lead
- Befesa Zinc DuisburgDuisburg (DE) · Stand-alone Waelz plantsWaelz plant (steel dust)
- Befesa Zinc FreibergFreiberg (DE) · Stand-alone Waelz plantsWaelz plant (steel dust)
- Befesa Zinc AserAsúa-Erandio (ES) · Stand-alone Waelz plantsWaelz plant (steel dust)
- Befesa Zinc RecytechFouquières-lès-Lens (FR) · Stand-alone Waelz plantsWaelz plant (steel dust)
- Befesa Circular Alloys FranceGravelines (FR) · Stand-alone Waelz plantsstainless-steel dust recycling
- ScanDustLandskrona (SE) · Stand-alone Waelz plantsstainless-steel dust recycling
- PontenossaPonte Nossa (IT) · Stand-alone Waelz plantsWaelz plant (steel dust)
Milestones 2024–2026
The EU zinc value chain is shaped by raw-materials policy, policy on scrap and waste, the emissions trading system with indirect cost compensation, electricity prices and the global concentrate market.
Critical Raw Materials Act
Zinc is on neither the strategic nor the critical list; germanium and gallium, recovered from zinc circuits, are (Regulation (EU) 2024/1252).
Portovesme zinc line stopped
The zinc line was stopped on 23 December 2024 and was still idle in January 2026.
Steel and Metals Action Plan
COM(2025) 125 covers aluminium, copper and nickel; zinc is not named.
Treatment charge USD 80
Benchmark charge for zinc concentrate at its lowest in more than 50 years (2023: USD 274, 2024: USD 165 per dry tonne).
CISAF state-aid framework
Temporary electricity price relief for energy-intensive users until 2030; zinc is not named.
Customs surveillance of scrap
Monitoring of imports and exports of ferrous, aluminium and copper scrap; zinc waste and scrap (CN 7902) is not covered.
Indirect cost compensation for 2024
Asturiana de Zinc EUR 66 m; EUR 170 m for five zinc smelters in total.
CBAM definitive period
Zinc (chapter 79) is not covered; steel products are, including galvanized sheet (CN 7210).
Treatment charge USD 85
Benchmark charge for zinc concentrate for 2026.
Waste shipments
Regulation (EU) 2024/1157 applies; electric-arc-furnace dust requires prior written notification and consent.
EU ETS benchmarks 2026–2030
No product benchmark for zinc; allocation under fall-back approaches (Implementing Regulation (EU) 2026/1412).
Strategic review of the Budel smelter
Nyrstar cites energy costs, low treatment charges and grid costs.
More circularity needs more scrap
Three “what if” calculations at 2024 prices, with labour productivity rising 1.0% a year. End-of-life scrap recovery comes from the dynamic model, and net trade in unwrought zinc closes the balance.
Value added with supply chain · EUR m
Jobs with supply chain · persons
Secondary zinc · kt
Method in brief
ZN‑EU applies the integrated IGMNiR model, developed for non-ferrous metals in Poland and for copper and aluminium in the EU‑27, to zinc in the EU‑27 treated as one economy. The national report on zinc in Poland and ZN‑EU are alternative perspectives that do not add up.
Scope and allocation
Six segments Z0–Z5 from EU‑27 structural business statistics (SBS) with zinc shares; the zinc part of NACE 24.43 split by employment keys into secondary producers, smelters and producers of rolled zinc, dust and alloys.
Zinc mass balance
Smelter output, three routes of secondary zinc and first use; domestic scrap supply residually and bottom-up.
Zinc in use
Inflow-driven stock model 1960–2035, five product groups; recovery from galvanized steel bounded by steelworks dust.
Economy and taxes
Leontief input-output model, type I and II, on the EU‑27 block of FIGARO 2024; smelters and secondary producers valued physically from a cost account.
Environment
Screening footprints of the three secondary routes against primary zinc; tailings and acidification; EU ETS emissions.
Strategy and uncertainty
Coverage indicators, HHI, stress tests; Monte Carlo with 10,000 draws and a Gaussian copula, structural variants and scenarios.
Limitations
- Results are gross contributions at fixed coefficients, not net policy effects; taxes are an attribution, not a fiscal balance.
- The zinc shares of mining, scrap trade, metal coating and casting and the employment keys within NACE 24.43 are assumptions not checked against company reports; the 52% share of Z5 depends on them.
- Volumes of the three secondary zinc routes are not published; the residual and bottom-up estimates of domestic scrap supply differ by 212 kt.
- Environmental values are screening values, not ISO 14044 life-cycle assessments; the sign of the result depends on the footprint of the displaced primary zinc.
The report was prepared with the support of artificial-intelligence tools for data processing, modelling and drafting.
Download and cite
The full report covers the policy context, the zinc balance, the dynamic model, all parameters with ranges and sources, control tests, the list of EU ETS installations and the bibliography.
IGMNiR (2026), Zinc in the EU-27 economy: value, circularity and security of supply. An integrated assessment of the zinc industry in the European Union (ZN-EU model), Economic Chamber of Non-Ferrous Metals and Recycling, November 2026.
Model run ID: ZNEU-1.0-fc03a4ecad