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 chemicals are inorganic chemical compounds that find widespread use in a wide range of applications. Zinc is an important mineral for one's physical and mental health because it helps with basic cellular function and, as a result, the proper functioning of the reproductive system. Zinc also aids in the prevention of common skin problems and the strengthening of the immune system. The most commonly used inorganic zinc chemicals are zinc chloride, zinc oxide, and zinc sulfate, which are mainly used in ointments for minor skin problems such as wounds and itchiness. The unique characteristics of these chemical compounds find their way into a wide range of applications, from the rubber matrix to pharmaceutical drugs. Zinc oxides are used as vulcanization agents in the production of rubber, which is primarily consumed by the automotive industry due to its widespread use in the production of bias tires, belts, radial tires, glass, ceramics, hoses, and latex gloves, among other things.
· Growing demand for zinc oxide in rubber production
· Increasing application in the treatment of skin diseases
· Rising use in cosmetics and pharmaceuticals
· Regulations limit the use of zinc chemicals in feed applications
· Reduce the demand for zinc chemicals in paint and coatings
· Increasing research and technological developments in zinc nanoparticles for cancer treatment
|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.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Zinc Chemicals Market Dynamics
Zinc is a chemical element that does not rust easily, unlike iron and other metals. As a result, zinc chemical is used to prevent rusting of other metals including steel. Zinc Chemical's application in the automotive, agriculture, and construction sectors is rapidly expanding due to its versatile and favorable chemical properties. Rising research and innovation developments in the field of zinc nanomaterials used for cancer imaging, diagnosis, and treatment offer significant benefits to the zinc chemicals market in the coming years. Moreover, Zinc chemicals are widely used in agriculture, rubber compounding, chemicals, paints and coatings, glass and ceramics, textiles, food and pharmaceutical industries, and so on. The expansion of these application areas drives the global zinc chemicals market. Furthermore, the growing use of the product or service in cosmetics and personal care products is expected to drive the growth of the zinc chemicals market. On the other hand, the implementation of regulatory frameworks and fluctuations in zinc prices are expected to stifle the expansion of the zinc chemicals market during the forecast period.
Zinc Chemicals Market Segmentation
Market by Type
· Zinc Carbonate
· Zinc Sulfate
· Zinc Oxide
· Zinc Chloride
Based on the type, zinc oxide is expected to dominate the market in the coming years. Zinc oxide is found in a wide range of cosmetics and personal care products, including nail polish, makeup, bath soaps, baby lotions, and foot powders. It can also be found in skincare products such as diaper rash creams and lotions, as well as sunscreen. Furthermore, zinc oxide also has antimicrobial and deodorizing properties. As a result, it's found in medical products such as creams, powders, and lotions to treat skin irritations, other skin problems, and even dermatitis. Along with its reflective properties, it is also used in sun blocks and can be seen on the lips and noses of lifeguards at the beach. Another important use for zinc oxide is in the manufacture of concrete. The addition of Zinc Oxide enhances water resistance and facilitates concrete processing. Because of these benefits, the zinc oxides segment is expected to reach significantly in the coming years.
Market by Application
· Rubber Compounding
· Glass & Ceramics
· Paint & Coatings
· Food & Pharmaceuticals
Based on the application, the rubber compounds segment is expected to grow at the fastest rate throughout the forecasting years. Vulcanization is a chemical process that transforms natural rubber into a stiffer material. As a result, zinc chemical improves heat and abrasion resistance, adds to rubber compounds, and prevents ultraviolet degradation. Furthermore, zinc chemicals are widely used in the manufacture of tires and tubes, both of which are widely used in automobiles. In the coming years, the expanding automotive sector is expected to boost the overall demand for zinc chemicals. Additionally, the growing popularity of electric vehicles is expected to drive the market for automotive tires, which will drive tire consumption in the automotive market, which will drive the zinc chemical market.
Zinc Chemicals Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
The Asia-Pacific region is expected to be the dominant region due to the widespread and extensive use of zinc chemical derivatives in a variety of applications such as chemical processing, rubber processing, agriculture, and others. Zinc chemical consumption in the region has increased due to growth in the agriculture and automotive sectors. The rising production of chemical compounds is expected to open up opportunities for the region's market to expand in the near future. Chemical raw materials at a low cost and ease of availability are significant factors driving future growth. China is expected to have the largest share of the Asia Pacific zinc chemicals industry, with India growing at the fastest rate during the forecast period. The growing agribusiness sectors, as well as economic growth in China and India, are supposed to drive up demand for zinc chemicals. Furthermore, Japan's largest tire producers, Zeon Corp., Tosoh Corporation, and Yokohama Tire & Rubber Co. Ltd., are expanding potential, which is anticipated to present a thrilling market venue for zinc chemical compounds from the rubber processing industry in the coming years. As a result, all of these market dynamics are expected to drive demand for the region's zinc chemical market throughout the forecast period.
Some of the prominent players in global zinc chemicals market are 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.
The estimated value of global zinc chemicals market in 2021 was accounted to be US$9,962 Mn.
The projected CAGR of zinc chemicals during the analysis period of 2022 to 2030 is 5.6%.
The prominent players of the global zinc chemicalsmarket involve 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.
Asia-Pacific held the dominating share for zinc chemicals during the analysis period of 2022 to 2030
North America region exhibited fastest growing CAGR for zinc chemicals during the analysis period of 2022 to 2030
Rapidly increasing need to avoid dispensing errors, as well as rising incidence of chronic diseases along with the geriatric population are the prominent factors that fuel the growth of global zinc chemicals market
Based on application, rubber compounding segment held the maximum share for zinc chemicals market in 2021