The Global Zinc Chloride Market size accounted for US$ 299 Mn in 2021 and is expected to reach US$ 464 Mn by 2030 with a considerable CAGR of 5.2% during the forecast timeframe of 2022 to 2030.
Zinc chloride is a concentrated solid and deliquescent salt with the formula ZnCl2 that can be formed by evaporating or directly reacting with an aqueous solution. In dry cells, zinc chloride is primarily used as an electrolyte. It is also used as a condensing agent, a dehydrating agent, a wood preservative, a deodorant, and a disinfectant in those other applications. Zinc chloride can also be used in a variety of industries such as pharmaceuticals, chemicals, and paper production. It is used in the chemical industry to make intermediate chemicals, dyes, and solvents such as ethyl acetate. On a smaller scale, it is also used in a variety of applications. It is also an important component of the crystallizing bath used in the manufacture of viscose rayon. In addition, zinc chloride is widely used in the textile industry, as well as a flux component in aluminum refining, soldering, and galvanizing.
· Rising used as an electrolyte in dry cell batteries in the automotive industry
· Growing demand for zinc chloride as a coagulant for dyes
· Increasing production for chemicals such as methylene chloride, zinc bacitracin, and ethyl acetate
· Strict government regulations related to the use of zinc chloride
· The growing adverse effect of zinc chloride on the body
· An increase in the consumption from the textile processing sector
· Rising demand from the oil and gas industries
|Market||Zinc Chloride Market|
|Market Size 2021||US$ 299 Mn|
|Market Forecast 2030||US$ 464 Mn|
|CAGR||5.2% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Grade, By Application, By End-use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Flaurea Chemicals, Eurocontal SA, American Elements, Vijaychem Industries, Haihua Industry, Global Chemical Co. Ltd, PT. Indo Lysaght, Lipmes, YangguZhongtian Zinc Industry Co., Ltd., TIB Chemical AG, and Pan-Continental Chemical Co., Ltd.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Zinc Chloride Market Dynamics
The expansion of the textile industry, which is expected to increase demand for zinc chloride, will be a key driver of the zinc chloride market throughout the forecast period. Furthermore, zinc chloride is used in the chemical industry to produce intermediate chemicals, epigastric tenderness, pharyngeal edema, dyes, and solvents like ethyl acetate. Technological advancements in the automotive industry that favor the use of zinc chloride as a coagulant are creating enormous opportunities for zinc chloride market manufacturers to increase sales through the development of new products. This expansion may be fueled by increased demand for the product as a result of its chemical characteristics. Growing demand from industries such as petroleum and energy, as well as chemical manufacturing, can help to fuel demand even more. However, rising strict government regulations related to the use of zinc chloride due to its toxic nature, as well as adverse effects of this compound on skin are among the major restraints that will further challenge the growth of the zinc chloride market during the forecast period.
Market by Grade
· High Purity Grade
· Technical Grade
· Battery Grade
· Commercial Grade
Based on the grade, the battery-grade zinc chloride segment is expected to grow at the fastest rate during the forecasted years. Battery-grade zinc chloride is in the growing market due to its increasing use in the production of batteries used in the automotive and manufacturing industries. Zinc chloride batteries are emerging as one of the most promising devices for large and medium energy storage applications due to their advantages in terms of cell voltage, energy density, and cost. The transition of the automotive industry from zinc-carbon battery cells to zinc chloride batteries is also opening up new opportunities for zinc chloride manufacturers.
Market by Application
· Dry Cell Batteries
· Water Treatment
Based on the application, the catalyst segment held the largest market share in 2021, owing to increased R&D investment for the introduction of new applications. In a wide range of natural synthesis reactions, zinc chloride is used as a Lewis acid catalyst. The primary benefits of ZnCl2 are its low cost, moderate toxicity, ease of handling, and broad-spectrum catalytic activity.
Furthermore, the dry cell batteries segment is projected to expand significantly in the market over the forecasting year, owing to rising demand for storage batteries and rising demand for electric battery vehicles.
Market by End-use
Based on the end-user, the market is segmented into the chemical, electronic, agriculture, textile, and many more. In the chemical industry, zinc chloride is used to make intermediate chemical products, and cleaning agents such as ethyl acetate. It is also used in the laboratory to synthesize organic products for Lewis acid reactions and other reactions. Furthermore, it is also used as a catalyst in organic processes. Besides this, zinc chloride at a concentration of 64% in water can be used to dissolve cellulose, silk, and starch in the textile industry. It is also used in a number of different applications, such as fireproofing and fabric refreshers.
Zinc Chloride 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 largest and fastest-growing market for zinc chloride due to increased demand from various end-user industries. The growth of this market can be attributed to the rising demand for zinc chloride from India and China. Furthermore, government initiatives to promote industrial development are expected to drive growth in the Asia Pacific market. Moreover, due to its efficacy in odor control, zinc chloride is in high demand in the Asia-Pacific region, particularly in Japan. Additionally, China is expected to hold the largest market share of zinc chloride in the Asia-Pacific region due to the presence of a massive production base of various manufacturers in the zinc chloride market and the country's continued increase in export to various countries.
Some of the prominent players in global zinc chloride market are Flaurea Chemicals, Eurocontal SA, American Elements, Vijaychem Industries, Haihua Industry, Global Chemical Co. Ltd, PT. Indo Lysaght, Lipmes, YangguZhongtian Zinc Industry Co., Ltd., TIB Chemical AG, and Pan-Continental Chemical Co., Ltd.
The estimated value of global zinc chloride market in 2021 was accounted to be US$ 299 Mn.
The projected CAGR of zinc chloride during the analysis period of 2022 to 2030 is 5.2%.
The prominent players of the global zinc chloride market involve Flaurea Chemicals, Eurocontal SA, American Elements, Vijaychem Industries, Haihua Industry, Global Chemical Co. Ltd, PT. Indo Lysaght, Lipmes, YangguZhongtian Zinc Industry Co., Ltd., TIB Chemical AG, and Pan-Continental Chemical Co., Ltd.
Asia-Pacific held the dominating share for zinc chloride during the analysis period of 2022 to 2030
North America region exhibited fastest growing CAGR for zinc chloride during the analysis period of 2022 to 2030
Rising used as an electrolyte in dry cell batteries in the automotive industry and growing demand for zinc chloride as a coagulant for dyes are the prominent factors that fuel the growth of global zinc chloride market
Based on application, catalyst segment held the maximum share for zinc chloride market in 2021