[SMM Analysis] Southeast Asia Dominates China’s 2025 Zinc Oxide Exports, Navigating Opportunities & Challenges in 2026

SMM January 27:

According to the latest customs data, in December 2025, China's zinc oxide imports reached 788.67 mt, up 132.09% MoM and 113.96% YoY; exports for the same month were 2,925.06 mt, up 36.54% MoM and 102.46% YoY.

For the full year of 2025, China's total zinc oxide imports amounted to 6,115.25 mt, with cumulative growth up 4.28% YoY; total exports reached 17,112 mt, with cumulative growth up 15.14% YoY. Among them, exports to Southeast Asian countries accounted for more than half, reaching 58.23%.

In recent years, China has consistently maintained a net export position for zinc oxide. As in 2024, Vietnam remained the top export destination for China's zinc oxide in 2025, with exports of 5,223.17 mt, accounting for 30.52% of total exports. Thailand followed, importing 2,182.25 mt of zinc oxide from China for the full year, accounting for 12.75%. The third-ranked export destination changed from the Philippines in 2024 (1,214.48 mt, 8.19%) to Saudi Arabia in 2025, with exports of 893.16 mt, accounting for 5.22%.

In addition, the exports of Saudi Arabia, Cambodia, and Indonesia all ranked among the top ten in 2025, indicating sustained strong demand for China's zinc oxide in the Southeast Asian market.

From a monthly trend perspective, China's zinc oxide exports in 2025 generally showed a pattern of "high in the first half and low in the second half." In H1, due to expectations of international tariff policies, there was a rush to export in the market, which provided some support for the increase in exports. Entering H2, the related effects gradually weakened, and the pace of zinc oxide exports began to slow down.

Overall, China's zinc oxide import and export activities were robust in 2025, with exports growing rapidly and imports also showing a rebound. Looking ahead to 2026, domestic zinc oxide exports are expected to face both opportunities and challenges. Based on data from the past two years, Southeast Asia remains a core export market, accounting for over 50% of exports with a stable position. However, feedback from enterprises indicates that the export market is facing structural challenges. On one hand, local demand in Southeast Asia continues to grow steadily; on the other hand, competition from similar products from Asian countries such as South Korea and India is intensifying, impacting the traditional market share of China's zinc oxide.