Global Lead Market Facts, Figures & Fundamentals

Despite growing competition from lithium-ion technology, lead has demonstrated remarkable resilience, with demand maintaining steady growth over the past decade. Over 80% of refined lead consumption is linked to battery production, and core sectors such as automotive and e-bikes continue to support this demand, a trend expected to persist in the short to medium term.

Geographically, Asia plays an increasingly central role in shaping global lead usage. China alone accounts for more than 40% of global demand, while usage in markets such as Vietnam, and most notably India, is rapidly expanding, reinforcing the region’s importance.

On the supply side, although global lead concentrate output has declined since its 2013 peak, refined lead production continues to rise. This is largely driven by secondary output, which in 2024 accounted for over two-thirds of global supply, highlighting lead’s strong recycling infrastructure.

This presentation will provide a comprehensive overview of current lead market dynamics, examining both supply and demand fundamentals. It will also explore key industry challenges and discuss future opportunities, particularly those arising from the growing demand for energy storage systems.

Presenters

Joao Jorge

Director of Market Research and Statistics, International Lead and Zinc Study Group

Joao holds a Master’s Degree in Economics, from the ISCTE Business School, Lisbon, a Postgraduate Diploma in Applied Econometrics and Forecasting and a Bachelor’s Degree in Economics, both from ISEG School of Economics and Management of Lisbon University.

After having worked for the Portuguese National Statistics Institute, in 2006 Joao joined the International Lead and Zinc Study Group, firstly as a Statistical Analyst, then as Manager of Statistical Analysis and, since 2018, holding the position of Director of Market Research and Statistics. He is directly involved in the production of ILZSG’s Monthly Lead and Zinc Statistical Bulletin and the Group’s twice yearly Market Forecasts.

The ILZSG is an intergovernmental organisation formed by the United Nations in 1959 to promote transparency in the lead and zinc markets via the provision continuous information on the supply and demand and its probable development, facilitate co-operation between governments and industry and conduct in-depth research into other issues of interest to members via the completion of special reports and studies. It currently has 27 member countries.