By 2023, it is anticipated that size of the global zinc chloride Industry will be worth US$ 309.6 million. Throughout the anticipated period, the market is anticipated to surge at a CAGR of 5.0%. A market value of US$ 505.6 million is anticipated by the conclusion of the projection period 2023-2033.A market value of US$ 505.6 million is anticipated by the conclusion of the projection period 2023-2033.
Zinc chloride demand is expected to rise due to growth in a range of industries, including chemicals, medicines, and agriculture. These sectors rely heavily on zinc chloride due to its vast range of manufacturing techniques and product compositions.
Rising disposable income levels and growing populations are boosting demand for consumer goods and infrastructure development in emerging nations. Zinc chloride is utilized in the production of batteries, textiles, rubber, and plastics, all of which are essential components of many consumer items and building materials.
As environmental legislation and a focus on sustainable energy sources become more popular, demand for renewable energy technology is increasing. Zinc chloride is an important component in the renewable energy sector because it is used to manufacture solar cells and other energy storage devices.
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To meet the growing need for food, the agriculture sector is shifting to more efficient and sustainable farming practices. Zinc chloride, a micronutrient widely used in fertilizers, supports healthy plant growth and boosts agricultural production. As agricultural activities develop to meet the world’s food demands, demand for zinc chloride is expected to rise.
Growing demand for zinc chloride is most likely due to continuous research and development efforts to find new applications for it. Zinc chloride is employed in many fields, including medicine, electronics, and water treatment.
Scientists and engineers are always looking for new and inventive ways to use it. These advances are expected to broaden market opportunities and boost global demand for zinc chloride.
Growing awareness and adoption of zinc-based products in the healthcare and personal care sectors will also drive demand. Zinc chloride is used in the production of a wide range of pharmaceuticals, ointments, lotions, and cosmetic products.
It is a valuable component in antiseptics, wound care treatments, and oral hygiene products due to its antibacterial properties. Sales of zinc chloride, a critical element in these formulations, are expected to rise in tandem with rising global demand for healthcare and personal care goods.
Key Takeaways from Zinc Chloride Market Study:
- The global zinc chloride industry witnessed a CAGR of 1% during the historical period from 2018 to 2022.
- India zinc chloride industry is set to create an absolute dollar opportunity of more than US$ 25 million in the next ten years.
- China zinc chloride industry is anticipated to create an absolute dollar opportunity of more than US$ 40 million by the end of the forecast period.
- Based on grade, the high purity segment is expected to expand at 9% CAGR from 2023 to 2033.
- Chemical end-use sector segment is estimated to generate revenues of over US$ 50 million throughout the evaluation period.
“Color cosmetic products such as eyeliners, eyeshadow, and mascara are made using zinc chloride. Owing to its binding properties, pigments on the skin adhere better and last longer. In order to provide a smooth application and improved wear, zinc chloride can additionally help to the general stability and texture of cosmetic compositions. It is set to create new opportunities in the global market.” – Says a lead analyst at Future Market Insights (FMI).
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Competitive Landscape
A small number of manufacturers represent about half of the market share in the modestly consolidated global zinc chloride market. These players outperform their rivals in terms of production capacity. As a result, they are a leading producer and exporter of zinc chloride worldwide.
Important market players are also using a variety of techniques to increase their profits. Focusing on lowering carbon emissions in order to support sustainability objectives is a well-known method. With this strategy, important firms might improve their market standing while also preserving the environment.
Smaller market participants, in contrast, place a higher priority on raising their production capacity to fulfill the expanding regional demand. To increase their sales outside of local markets, they are currently focusing on export-driven markets. Small firms can expand their market share and sales potential by entering new markets and forging supply chain agreements with end users.
For instance,
- Toothpaste infused with zinc salt was developed by Unilever, a prominent brand in the personal care goods sector, in March 2021. It guarantees to lower blood pressure and improve nitrate reductase activity.
Top Key Players in the Global Industry
- Zaclon LLC
- Costal Zinc Group
- Jinzhou Jitian Zinc Industry Co., Ltd.
- Weifang Dongfangsheng Chemical Co., Ltd.
- Lipmes SA
- HaloPolymer OJSC
- Tianjin Nanping Chemical Co., Ltd.
- TIB Chemicals
- Flaurea Chemicals
- Vap Industries
- Haihang Industries
- Haryana Chemical Industries
- Pinkto Chemicals
- Sigma Chemical Industries
- Yanggu Zhongtian Zinc Industry Co., Ltd.
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Key Segmentation
By Grade:
- High Purity Grade
- Battery Grade
- Technical Grade
- Commercial Grade
By Form:
- Powder
- Liquid
By End Use Sector:
- Electronics
- Chemical
- Agriculture
- Pharmaceuticals
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Russia and Belarus
- Balkan and Baltic Countries
- Central Asia
- East Asia
- South Asia and Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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