Zinc Chloride, a white-colored deliquescent salt, finds application in various end-industries including chemicals and textiles. As per a recent market intelligence report by Future Market Insights (FMI), a premier market foresight firm delivering actionable insights to the world leaders, the zinc chloride market is evaluated to increase 2X in terms of revenue in the next 10 years. The zinc chloride market – majorly driven by the high consumption in various chemical applications such as galvanizing, soldering and thinning fluxes, and vulcanized fiber is expected to reach a market valuation of US$ 42.6 Bn by the end of 2028 expanding at a modest CAGR of 4.6% over the forecast period of 2018-2028.
In terms of purity, high purity grade zinc chloride is expected to witness high adoption in pharmaceutical and textile industries among others. Zinc chloride as catalyst is expected to create a strong foothold in the automotive industry, leading to overall increased consumption over the forecast period. Catalysts and dry batteries are estimated to hold a major 50% of the total market share, in terms of application.
Expert analysts at FMI also predict that emerging economies China, India, Brazil, and GCC countries would offer substantial growth opportunities in the zinc chloride market. With growing demand of zinc chloride in chemical, agriculture, and other industries, these market are expected to gain high traction over the forecast period. With growing domestic production of zinc chloride and significant rise in demand from major applications, China is estimated to expand at relatively higher growth rate, followed by North America. Regions such as SEA and Pacific and Latin America are majorly dependent on imports from U.S, China and Europe—creating enough scope for the manufacturers to expand in these countries.
Sustainable Green Batteries with Zinc Chloride Preferred Over Dry Cell Type
Since most dry cell batteries- used in products ranging from flashlights to computers contain metals that are potentially toxic in nature such as mercury, cadmium, and nickel, environmental advocates and battery manufacturers have upped the manufacturing to develop durable and affordable advanced batteries, with the primary objective to save energy. Green batteries are developed by managing the waste. Addressing the concerns growing about the toxic nature of mercury, battery makers are utilizing this opportunity to develop green alkaline batteries having less than one tenth of 1 percent by weight of mercury. These batteries are the renewable source of energy which are inherently rechargeable or recyclable. Alkaline batteries are estimated to have a 500% to 700% higher capacity than zinc chloride batteries; they are technologically advanced and offer a higher capacity. Energy-efficient alkaline batteries are expected to outperform zinc chloride batteries over the forecast period. Other kind of batteries such as Evolta—used in flash cameras, toy cars, and game controllers are technologically advanced and offer higher capacity as compared to zinc chloride batteries. Zinc air batteries are proficient electrochemical energy storage devices with the advantages of high specific energy, safety and low cost. These batteries are expected to emerge as replacements for zinc chloride batteries.
“Owing to the mild catalytic nature, zinc chloride is finding increased adoption in the automotive industry as manufacturers are trying to cope with the trends and requirements of modern vehicles. Nowadays, automobile manufacturers are focusing on producing high performance vehicles, which can efficiently traverse through any terrain and climatic condition. Also, the increasing production of sports and premium cars with high power engines is surging the demand for highly active and advance catalyst”- Principal Analyst, Chemicals Industry, Future Market Insights
In terms of key strategies,
To know more about key strategies adopted by manufacturers to cater to the escalating demand for zinc-based chemicals, a download sample copy of this report: https://www.futuremarketinsights.com/reports/sample/rep-gb-6541