BEIJING, June 16, 2022 (GLOBE NEWSWIRE) — The global Zinc Chemicals Market accounted for US$ 9,962 Mn in 2021 and is expected to reach US$ 15,935 Mn by 2030 with a considerable CAGR of 5.6% during the forecast timeframe of 2022 to 2030.
Zinc is a chemical element with a gleaming surface that appears as a bluish-white metal. Zinc essentiality for plants was established in 1869, for experimental animals in 1934, and for humans in 1961. Zinc is used in the galvanization of other metals. Zinc chemicals like zinc oxide, zinc chloride, zinc bromide, and zinc carbonate are used in a variety of industries including automotive, agriculture, glass and ceramics, and surface coatings. For instance, zinc chloride can be used for applications such as catalysts, water treatment, production of plastic, and many others. Furthermore, zinc bromide is used as a completion fluid in the petroleum industry. Galvanization is the process of applying a zinc material to the surface of another metal in order to protect it from rust. Zinc Chemical’s use in the agriculture, automotive, and construction industries is rapidly expanding owing to its unique and favorable chemical characteristics, fueling the market growth.
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|Market||Zinc Chemicals Market|
|Market Size 2021||US$ 9,962 Mn|
|Market Forecast 2030||US$ 15,935 Mn|
|CAGR||5.6% During 2022 – 2030|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Type, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Boliden Group, Nyrstar, Hindustan Zinc, Votorantim, EverZinc Canada (GHC), Weifang Longda Zinc Industry Co. Ltd., Hakusui Tech Co. Ltd, American Chemet Corporation, Rubamin, Zochem, Inc., Akrochem Corporation, and Bruggemann GmbH & Co. KG.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Zinc Chemicals Market Growth Aspects
The zinc chemicals market is expected to grow significantly during the coming years due to the improvement in zinc chemical efficiency and rising agricultural demand for zinc chemicals. The expansion of the glass and ceramic materials industry has fueled the growth of the zinc chemicals market. On the other hand, the rising use of zinc chemicals in the electronics and semiconductor industries is expected to fuel the zinc chemicals market throughout the forecast period. Besides that, new rubber norms imposed in China to impact compounded rubber demand limit market growth.
Additionally, the health risks associated with zinc chemicals, such as direct contact with the eyes or skin, which can cause indigestion, irritation, and respiratory problems if consumed or inhaled, are likely to impede the market’s growth. Furthermore, the unfavorable conditions caused by the COVID-19 outbreak are expected to stymie market growth.
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Increased Use of Zinc Oxide in a Variety of Applications
Zinc oxide intends as both a colorant and a bulking agent. It is used in over-the-counter drug products as a skin protectant and sun block. Zinc oxide performs as a sun block by reflecting and scattering UV rays. Sunscreens can help to prevent or reduce sunburn and premature epidermis aging. Furthermore, zinc oxide nanoparticles are becoming more common in industrial products such as paint, rubber, coatings, and cosmetics. Due to their low toxicity, excellent biocompatibility, and low cost, zinc oxide nanoparticles have been one of the most prevalent metallic nanoparticles in biomedical applications over the last two decades. Zinc oxide nanoparticles have emerged as having a promising potential in biomedicine, particularly in the fields of antitumor activity and antibacterial fields.
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global zinc chemicals market. North America is expected to grow significantly in the zinc chemical market due to the region’s strong pharmaceutical industry. Zinc chemicals are widely used in the manufacture of rubber tires and tubes, both of which are commonly found in automobiles. The region’s broadening automobile industry is expected to boost the market for zinc chemicals in the near future. Furthermore, the increasing popularity of electric mobility is expected to propel the market for vehicle tires, propelling tire consumption in the automotive sector, and driving the zinc chemical market. However, an increase in the production of zinc oxide nanoparticles from the pharmaceutical and cosmetic industries owing to its ability to protect against sunburn, skin damage, and UV light protection will be a primary driver for the zinc chemical in North America. Zochem LLC, one of North America’s largest zinc oxide industry players, has recently increased Palmer Holland’s distribution territory into Canada. Palmer Holland’s innovative distribution territory now includes the United States as well as Canada.
The global zinc chemicals market has been segmented by Acumen Research and Consulting based on type, and application. Based on the type, the market is divided into zinc sulfate, zinc oxide, zinc carbonate, zinc chloride, and others. Based on application, the market split into rubber compounding, textiles, glass & ceramics, agriculture, paint & coatings, food & pharmaceuticals, chemicals, and others.
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Some key players covered global in the zinc chemicals industry are Boliden Group, Nyrstar, Hindustan Zinc, Votorantim, Ever Zinc Canada (GHC), Weifang Longda Zinc Industry Co. Ltd., Hakusui Tech Co. Ltd, American Chemet Corporation, Rubamin, Zochem, Inc., Akrochem Corporation, and Bruggemann GmbH & Co. KG.
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