Copper, Silver, Lead and Zinc Smelting and Refining in Australia - Market Research Report (2013-2028)
Melbourne, Australia
Last Updated: October 2023
ANZSIC C2133Revenue
$4.2bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
2,821
Businesses
40
Wages
$XXX.Xm
Copper, Silver, Lead and Zinc Smelting and Refining in Australia industry analysis
The Copper, Silver, Lead and Zinc Smelting and Refining industry has faced volatile conditions over recent years due to volatile pricing and refineries generating a high proportion of industry revenue by providing refining and smelting services to mining companies as a third-party service. As mining companies can export ore concentrate overseas to be refined, industry firms that service mining companies need to be price and service competitive. Industry volumes and revenue are greatly influenced by changes in demand for smelting and refining services and the production output of mining companies that also operate in the industry. Overall, industry revenue is expected to climb at an annualised 1.1% over the five years through 2023-24, to an estimated $4.2 billion, mainly due to higher copper prices despite lower refined copper output. Industry revenue is anticipated to fall by 6.2% in 2023-24 as downstream demand weakens and copper production declines greatly.Industry exports are estimated to total $7.8 billion in 2023-24, substantially above industry revenue. Industry refineries often process metal for a fee without taking ownership of it. Exports of this processed metal are counted in industry exports. Industry exports tend to exceed industry revenue.The industry competes with imported refined metals and has progressively lost its share over the past decade. Sophisticated refineries opened in the Asia-Pacific region have outperformed Australian refiners because of greater scale and a more favourable regulatory environment. Revenue is forecast to decrease at an annualised 0.8% over the five years through 2028-29, to an estimated $4.0 billion. Refined copper production volumes are on track to push down, thanks to the anticipated closure of Glencore's copper smelter and refinery in Queensland in 2026. Output and demand for other industry goods, particularly zinc and lead, are set to remain stable, with prices declining. Industry exports are poised to sink owing to lower industry production.
Trends and Insights
- Industry revenue and profit margins have swollen. The COVID-19 pandemic had a minimal effect on the industry, with exporters benefitting from a relatively weaker Australian dollar and a growing copper demand for electric vehicles.
- Zinc sales have declined thanks to low pricing growth compared with copper and despite growth in refined zinc volumes. Limited demand growth from China in 2019-20 and 2020-21 during the COVID-19 pandemic contributed to this segment's decline.
- Positioning near major markets leads to lower transportation costs. This also enables refineries to build strong ties with major buyers, boosting performance.
- Refined copper, silver, lead and zinc are largely generic products sold based on price, adjusted for any variations in metal content. Other considerations, like reliability of supply and transport costs, play a significant role in purchasing decisions.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $4.2bn in 2023.
Trends and Insights
Industry revenue has been highly fluctuating, reflecting its susceptibility to global economic conditions
- The industry's performance has been highly volatile, reflecting changes in demand, output, US dollar metal prices and the value of the Australian dollar.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
Demand from China for copper and other industry metals is on track to be high
- Although China's economic growth may slow, demand for these metals is set to continue thanks to ongoing infrastructure spending and other construction projects as China continues to develop. For example, increased spending by the Chinese Government to overcome electricity shortages is poised to boost demand for copper.
Biggest companies in the Copper, Silver, Lead and Zinc Smelting and Refining in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Sun Metals | 1,200.0 | |
Glencore | 919.2 | |
Nyrstar Australia | 785.2 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Copper cathode, Refined silver and Refined lead. Copper cathode is the largest segment of the Copper, Silver, Lead and Zinc Smelting and Refining in Australia.
Trends and Insights
Demand for copper cathode has risen, supported by increased copper demand for electric vehicles
- Copper cathode is the final product from refining and smelting copper ore concentrate.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Copper Ore Mining in Australia
- Silver, Lead and Zinc Ore Mining in Australia
- Copper Tubes and Wire Manufacturing in Australia
- Metal and Mineral Wholesaling in Australia
International industries
- Nonferrous Metal Refining in the US
- Copper, Zinc & Lead Refining in Canada
- Precious Metals Production in the UK
- Lead, Zinc & Tin Production in the UK
- Copper Production in the UK
Table of Contents
About this industry
Industry definition
Industry firms smelt and refine copper, silver, lead and zinc. Firms in the industry can smelt their own ore concentrate or contract it from a third party for a fee. Industry firms may also recover these metals from waste or scrap and produce sulphuric acid as a smelting by-product.
What's included in this industry?
Copper cathodeRefined silverRefined leadRefined zincSulphuric acidCompanies
Sun MetalsGlencoreNyrstar AustraliaPurchase this report to view all 5 major companies in this industry.
Related Terms
CONCENTRATESECONDARY RECOVERYCOPPER CATHODEBLISTER COPPERRESERVE LIFENAMEPLATE CAPACITYSECONDARY METALSIndustry Code
ANZSIC 2133 - Copper, Silver, Lead and Zinc Smelting and Refining in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Industry revenue and profit margins have swollen. The COVID-19 pandemic had a minimal effect on the industry, with exporters benefitting from a relatively weaker Australian d...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Zinc sales have declined thanks to low pricing growth compared with copper and despite growth in refined zinc volumes. Limited demand growth from China in 2019-20 and 2020-21...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Positioning near major markets leads to lower transportation costs. This also enables refineries to build strong ties with major buyers, boosting performance.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Refined copper, silver, lead and zinc are largely generic products sold based on price, adjusted for any variations in metal content. Other considerations, like reliability o...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Most smaller entities operate on a contract basis to process ore concentrate for copper, silver, lead and zinc mining companies. These other companies can process ore concent...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Sun Metals's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Glencore's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Nyrstar Australia's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Sun Metals, and factors influencing its performance in the industry
- Description and key data for Glencore, and factors influencing its performance in the industry
- Description and key data for Nyrstar Australia, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Companies are subject to environmental laws dealing with noise, air emissions and the use, handling and disposal of hazardous materials and waste. Environmental and health is...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Due to the high costs of refining and smelting raw materials and extensive requirements for chemicals and other industry inputs, industry profit has traditionally been low. P...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia in 2024?
The market size of the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia is $4.2bn in 2024.
How many businesses are there in the Copper, Silver, Lead and Zinc Smelting and Refining in Australia industry in 2023?
There are 40 businesses in the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia, which has grown at a CAGR of 1.0 % between 2018 and 2023.
Has the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia grown or declined over the past 5 years?
The market size of the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia has been growing at a CAGR of 1.1 % between 2018 and 2023.
What is the forecast growth of the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia over the next 5 years?
Over the next five years, the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia is expected to decline.
What are the biggest companies in the Copper, Silver, Lead and Zinc Smelting and Refining market in Australia?
The biggest companies operating in the Copper, Silver, Lead and Zinc Smelting and Refining market in Australia are Sun Metals, Glencore and Nyrstar Australia
What does the Copper, Silver, Lead and Zinc Smelting and Refining in Australia include?
Copper cathode and Refined silver are part of the Copper, Silver, Lead and Zinc Smelting and Refining industry.
Which companies have the highest market share in the Copper, Silver, Lead and Zinc Smelting and Refining in Australia?
The company holding the most market share in Australia is Sun Metals.
How competitive is the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia?
The level of competition is low and steady in the Copper, Silver, Lead and Zinc Smelting and Refining industry in Australia.
