By 2023, the global zinc chloride market is expected to reach a value of US$ 309.6 million, with a projected compound annual growth rate (CAGR) of 5.0% throughout the forecasted period from 2023 to 2033. Anticipated to reach a market value of US$ 505.6 million by the end of this period, the increased demand for zinc chloride is driven by its pivotal role in several sectors, including chemicals, pharmaceuticals, and agriculture, owing to its diverse applications in manufacturing processes and product formulations.
Demand for consumer goods and infrastructure development in emerging nations is being fueled by growing populations and rising disposable income levels. Batteries, textiles, rubber, and plastics- all vital components of numerous consumer goods and building materials, are produced with the help of zinc chloride.
Demand for renewable energy technology is rising as environmental laws and a focus on sustainable energy sources become more prevalent. Zinc chloride is a crucial component in the renewable energy sector since it is used in the production of solar cells and other energy storage devices.
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To fulfill the rising need for food, the agriculture sector is transitioning to more efficient and sustainable farming methods. Widely used in fertilizers as a micronutrient, zinc chloride promotes healthy plant growth and increases agricultural yields. Demand for zinc chloride is anticipated to increase as agricultural activities expand to meet the world’s food needs.
Growing demand for zinc chloride is probably due in part to ongoing research and development efforts to find new uses for it. Zinc chloride is being used in a variety of disciplines, including medicine, electronics, and water treatment.
Scientists and engineers are continuously looking for new and creative applications for it. It is projected that these developments would expand market prospects and increase demand for zinc chloride globally.
Demand will also be pushed by growing awareness of and adoption of zinc-based products in the healthcare and personal care sectors. A multitude of medicines, ointments, lotions, and cosmetic goods are made with zinc chloride.
Due to its antibacterial qualities, it is a useful component in antiseptics, wound care treatments, and oral hygiene products. Sales of zinc chloride, a crucial ingredient in these formulations, are anticipated to increase along with high demand for healthcare and personal care products, which is likely to continue to climb globally.
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.
Key Companies Profiled
- 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
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Get More Valuable Insights into the Zinc Chloride Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global zinc chloride industry, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented based on grade (high purity grade, battery grade, technical grade, and commercial grade), form (powder and liquid), end-use sector (electronics, chemical, agriculture, pharmaceuticals, and others), and regions.
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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