Inorganic Zinc Chemicals Market to exceed $11,056.04 Mn by 2030, Says Consegic Business Intelligence
Consegic Business Intelligence analyzes that the inorganic zinc chemicals market is growing with a CAGR of 5.2% during the forecast period (2023-2030), propelled by increasing agricultural activities.
New York, June 13, 2023 (GLOBE NEWSWIRE) — The global Inorganic Zinc Chemicals Market is expected to witness significant growth at a remarkable CAGR of 5.2% during the forecast period of 2023-2030. This growth is attributed to the increasing demand for inorganic zinc chemicals in various end use industries such as rubber, agriculture, automotive, and others. In addition, the rising demand for fertilizers in key regions such as Asia Pacific, Middle East, and others is accelerating the demand for inorganic zinc chemicals.
The inorganic zinc chemicals market is expected to grow at a significant growth rate during the forecast period of 2023-2030. The Consegic Business Intelligence analyzes that the inorganic zinc chemicals market is expected to reach USD 11,056.04 million in 2030, which was USD 7,413.71 million in 2022, and register a compound annual growth rate of 5.2%. The report highlights the increasing adoption of inorganic zinc chemicals in the pharmaceutical industry as Active Pharmaceutical Ingredients (API). Consegic Business Intelligence study also provides insights into the market’s competitive landscape, market segmentation, regional outlook, and emerging technologies in the inorganic zinc chemicals market.
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Zinc is a brittle metal that gives a shiny-greyish appearance at room temperature when oxidation is removed. The element is an important trace element that serves as a raw material for various applications such as fertilizers, industrial chemicals, and paints & coatings, among others. The most commercialized inorganic zinc chemicals are zinc chloride, zinc oxide, and zinc sulfide. In the water treatment industry, zinc chloride is widely used as dehydrating agent and catalyst to remove metals and acids from water.
Increasing demand for water from the residential, commercial, and industrial sectors is driving the demand for zinc chemicals. In addition, inorganic zinc chemicals such as zinc chloride and zinc sulfide are widely adopted in the production of fertilizers as zinc serves as the essential micronutrient to plants and grains. Hence, the growing demand for fertilizers in the agricultural industry due to the rising need to improve crop yield and soil health is proliferating the inorganic zinc chemicals market.
Furthermore, the wide scope of applications of zinc oxide nanoparticles including drug delivery systems, personal care & cosmetics, and pharmaceuticals, among others, is expected to present a significant opportunity in the inorganic zinc chemicals market. Tata Chemicals Ltd., an India-based chemical manufacturing company, offers nano zinc oxide that gives anti-microbial, anti-fungal, UV-blocking characteristics for cosmetics and industrial applications. Therefore, the increasing application of inorganic zinc chemicals owing to the introduction of nanotechnology is projected to create lucrative opportunities for the major players in the market.
Global Inorganic Zinc Chemicals Market: Report Attributes
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||11,056.04 Million|
|By Form||Powder and Solution|
|By Type||Zinc Chloride, Zinc Oxide, Zinc Sulfate, Zinc Sulfide, and Others|
|By Application||Fertilizers, Lubricants, Dyes, Ointments, Wood Preservatives, Die Casting Alloys, Coatings, Chemical Intermediates, API, and Others|
|By End Use Industry||Automotive, Agriculture, Paints & Coatings, Chemicals, Rubber, Pharmaceuticals, Personal Care & Cosmetics, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more.|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
|Key Players||EverZinc, TIB Chemicals AG, Weifang Longda Zinc Industry Co. Ltd, Rubamin, ZINC OXIDE LLC, Hakusuitech Co. Ltd., Merck KGaA, Tata Chemicals Ltd., TOHO ZINC CO., LTD., Zinc Nacional S.A., ARIHANT SOLVENTS AND CHEMICALS|
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Global Inorganic Zinc Chemicals Market Segmentation Details:
Based on Form, in 2022, the powder segment accounted for the highest market share. Zinc metal has the ability to pump electrical charges between the two oppositely charged terminals. As a result, the wide adoption of powder zinc chemicals in batteries that are further deployed in various battery-powered devices and electric vehicles is contributing to the growth of the market. In addition, the increasing application of inorganic zinc chemicals in the animal feed industry is also driving the market growth.
Based on Type, the zinc chloride segment is anticipated to witness the fastest CAGR over the forecast period in the market. Zinc chloride is extensively used in the water treatment industry in order to remove high concentrations of metal and acids from the water. The increasing consumption of water in the industrial, commercial, and residential sectors is projected to create lucrative opportunities for the key players in the zinc chloride market.
Based on Application, in 2022, the fertilizers segment held the largest market share in the inorganic zinc chemicals market. Zinc chemicals such as zinc sulfide and zinc chloride are used as intermediates for the production of fertilizers due to the ability of zinc chemicals to provide soil fertility and increase crop productivity. Hence, the rising agricultural activities owing to the increasing advancement in the sector such as genetic engineering and biotechnology propelling the growth of the segment.
Based on End Use Industry, the chemicals segment is projected to register the fastest CAGR in the market. The extensive application of zinc chemicals as an additive in the production of various products such as paints & coatings, dyes, and lubricants is expected to drive the market growth. In addition, inorganic zinc chemicals are widely deployed as a catalyst in the manufacturing of other industrial chemicals including glycerin-zinc sulfate is also driving the market growth over the forecast period.
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Based on Region, in 2022, Asia Pacific accounted for the highest market share in the inorganic zinc chemicals market. The growing agricultural industry in the region due to the rising demand for sustainable agricultural practices such as organic farming and precision agriculture is accelerating the market growth. In addition, the increasing demand for water treatment solutions in order to remove impurities such as metals and acids is also contributing to the growth of the region in the inorganic zinc chemicals market.
According to research, EverZinc, TIB Chemicals AG, Weifang Longda Zinc Industry Co. Ltd, and Rubamin are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies such as the development of efficient, and cost-effective inorganic zinc chemicals. Further, the inorganic zinc chemicals market is expected to grow steadily due to rising demand from the rubber industry, especially in the Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend towards increasing adoption of inorganic zinc chemicals in the pharmaceutical industry is also estimated to drive demand for such starch ethers that is anticipated to increase the competition in the market.
- In June 2022, EverZinc united with Aterian Investment Partners (“Aterian”), a private investment firm and U.S. Zinc, a manufacturer of zinc chemicals, in order to form the prominent global zinc chemistry business.
List of Major Global Inorganic Zinc Chemicals Market:
- TIB Chemicals AG
- Weifang Longda Zinc Industry Co. Ltd
- ZINC OXIDE LLC
- Hakusuitech Co. Ltd.
- Merck KGaA
- Tata Chemicals Ltd.
- TOHO ZINC CO., LTD.
- Zinc Nacional S.A.
- ARIHANT SOLVENTS AND CHEMICALS
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Global Inorganic Zinc Chemicals Market Segmentation:
- By Form
- By Type
- Zinc Chloride
- Zinc Oxide
- Zinc Sulfate
- Zinc Sulfide
- By Application
- Wood Preservatives
- Die Casting Alloys
- Chemical Intermediates
- By End Use Industry
- Paints & Coatings
- Personal Care & Cosmetics
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Frequently Asked Questions in the Inorganic Zinc Chemicals Market Report
- What was the market size of the inorganic zinc chemicals industry in 2022?
- In 2022, the market size of inorganic zinc chemicals was USD 7,413.71 million
- What will be the potential market valuation for the Inorganic Zinc Chemicals industry by 2030?
- In 2030, the market size of inorganic zinc chemicals is expected to reach USD 11,056.04 million.
- What are the key restraints of the inorganic zinc chemicals market?
- The stringent government regulation related to the use of zinc chemicals is likely to hinder market growth.
- What is the dominating segment in the inorganic zinc chemicals market by type?
- In 2022, the zinc oxide segment accounted for the highest market share of 33.50% in the overall inorganic zinc chemicals market.
- Based on current market trends and future predictions, which geographical region will have the fastest impact on the inorganic zinc chemicals market’s growth in the coming years?
- North America is expected to be the fastest-growing region in the market during the forecast period.
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