Zinc chemicals are inorganic compounds that exhibit unique properties for use across different end-user industries. According to Market Research Future (MRFR)’s report, the global zinc chemicals market is anticipated to strike a moderate CAGR through the forecast period 2017 to 2023. It is found in different forms such as pellets, powder, and surface-treated, etc. which makes it convenient to be used for different purposes in the industry verticals.
The use of the chemical as a vulcanization agent is expected to propel the expansion of zinc chemicals market over the next couple of years. It is used in the manufacturing of rubber which is extensively used in the automotive sector. Hence, the growth of the automobile industry is expected to boost the revenue generation of the market in the years to come. Also, the growing demand for other rubber-based products such as conveyor belts, latex gloves, etc. is anticipated to favor market expansion.
The rising demand for food production is anticipated to catalyze the growth of the market in the nearby future. It has intensified the need for fertilizers which is poised to fuel demand for zinc sulfate over the next few years. Thus, the report projects a lucrative future trajectory for the global zinc chemicals market.
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The noted players participating in the share analysis of the global zinc chemicals market are American chemet corporation (U.S), U.S. Zinc (U.S.), Weifang Longda Zinc Industry (China), GHC (Canada), Hakusuitech co. Ltd (Japan), Rubamin (India), Zinc Oxide LLC (US), American Chemet Corporation (U.S.), Akrochem Corporation (U.S.), and BrüggemannGruppe (Germany).
On the basis of type, the global zinc chemicals market has been segmented into zinc chloride, zinc sulfate, zinc oxide, zinc carbonate, others. Among these, the zinc sulfate segment is likely to dictate the growth trajectory of the market owing to its extensive use in fertilizers, agricultural sprays, consumer goods, and animal feed.
The zinc chemicals market, by application industry, has been segmented into agriculture, rubber compounding, glass & ceramics, chemicals, food & pharmaceuticals, paints & coatings, textiles, and others.
By region, the Global Zinc Chemicals Market has been segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa (MEA). Asia Pacific holds the largest share of the market and is anticipated to expand at the highest CAGR over the forecast period. The flourishing industrial sector is projected to support the expansion of the zinc chemicals market in the region. Precisely, the growth of automotive, agriculture, and construction industries are poised to drive the market growth in the region over the assessment period. North America and Europe are lucrative revenue pockets and are projected to exhibit substantial growth in the years to come. The presence of major market players in these regions are expected to favor the proliferation of the zinc chemicals market in the forthcoming years.
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