Zinc Chemicals Industry
The demand for the chemical from the agriculture industry, the expansion of the ceramics and glass industries, and the usages of the commodity in cosmetics and personal care products are some of the factors that will likely boost the growth of the zinc chemicals market during the forecast period. The wound healing and anti-inflammatory properties of zinc sulfate, on the other hand, would increase its use in the treatment of skin diseases, resulting in more opportunities for the zinc chemicals market to expand during the forecast period.
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Market restrictions for the growth of zinc chemicals in the forecast period include the imposition of regulatory requirements as well as price fluctuations in the zinc market. The decrease in zinc chemical use in the paint and coatings industry will be the biggest challenge to the market's growth.
Competitive Dashboard
Some of the prominent players operating in the Global Zinc chemicals market are U.S. Zinc (U.S.), GHC (Canada), Weifang Longda Zinc Industry (China), Hakusuitech co. Ltd (Japan), American Chemet Corporation (U.S.), Rubamin (India), Zinc Oxide LLC (US), Akrochem corporation (U.S.), American chemet corporation ( U.S), and BrüggemannGruppe (Germany) among others.
Market Segmentation
The Global Zinc chemicals Industry is segmented into product type, and end-user. On the basis of type, the market is segregated into zinc oxide, zinc sulfate, zinc carbonate, zinc chloride, others. The zinc sulfate segment is the most lucrative among the various product segments in the Zinc chemicals market, and it is expected to retain its dominance over the forecast period. Zinc sulfate is widely used in crop sprays, fertilizers, consumer products, and animal feed, among other things.
Rising demand for zinc sulfate as a fertilizer additive to prevent deficiency in crops, primarily from Asia Pacific's agriculture-driven economies, is fueling market growth. Furthermore, zinc sulfate's anti-inflammatory and wound-healing properties are commonly used in the treatment of a number of skin diseases.
Rubber compounding is the most common application category, and it is expected to maintain its dominance and expand at a healthy CAGR. The increasing demand for rubber and plastic products from the automotive, electrical and electronics, and footwear industries is a major factor driving the market forward. Furthermore, the demand for conveyer belts, rubber shoes, radial tires, latex gloves, and other products is expected to boost the segment's growth.
Regional Overview
Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa are the five regions that make up the zinc chemicals industry. Asia Pacific accounts for the largest share of the industry and is projected to rise at the fastest pace, with a promising CAGR. The growth of the zinc chemicals market is primarily driven by the rising population and personal disposable incomes in developing countries.
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Furthermore, the rising construction industry in countries like India and China is increasing demand for zinc chemicals in the paint and coatings industry, propelling market growth. Another positive factor affecting the market is the demand for agricultural sprays and fertilizers from agriculture-driven economies such as India and China. Furthermore, since zinc chemicals are widely used in rubber compounding, the presence of the world's largest rubber producing countries, such as Indonesia, China, and India, is fueling demand for zinc chemicals. The growing electronics industry, especially in Japan and China, is expected to boost market demand for zinc chemicals in this area.
The demand for Zinc Chemicals is also dominated by North America, which is growing at a fast pace. The involvement of the big three car firms, GM, Ford, and Fiat Chrysler has increased demand for Zinc Chemicals for use in the automotive industry. Furthermore, due to the use of zinc chemicals in paints and coatings, the new elected government has brought a new wave of investments in infrastructure building and reconstruction, especially in the United States and Canada, which is expected to boost the market. Furthermore, the government's approval of the use of zinc chemicals in sun care products is expected to fuel market growth.
The developed automotive, healthcare, and cosmetic industries are the key drivers of the European economy. The market is growing due to rising demand for zinc chemicals in the cosmetic and personal care industry for use as sun protection, as well as the European Union's approval of the use of zinc oxide in beauty products. Furthermore, the presence of arable land in countries such as France, Spain, and Germany, among others, contributes to the region's zinc chemical industry.
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