Zinc Chemicals Market

Zinc Chemicals Market Size (2024-2029):

The Global Zinc Chemicals Market was worth US$ 9.94 billion in 2023 and is anticipated to reach a valuation of US$ 13.86 billion by 2029 and is predicted to register a CAGR of 5.70% during 2024-2029.

Market Overview:

The common commercial inorganic zinc chemicals are zinc oxide, zinc sulfate, and zinc chloride, which are often used in ointments for minor skin conditions, including burns and irritation. Zinc oxide is used in a number of applications, including transparent transistors, heat dissipation, LEDs, transparent conductive layers for solar cells, thermoelectric transfer, and so on. Zinc oxide, which is more commonly consumed than zinc sulfate and zinc chloride, is used in vehicle tires to improve handling, longevity, and protection.

Zinc chemicals are inorganic compounds that are widely used in a variety of applications. These chemicals’ distinct properties are used in a variety of applications, ranging from rubber compounding to pharmaceuticals. Zinc chemicals are also used in agrarian economies around the world in fertilizers, food, and animal feed. Zinc is a necessary mineral for mental and physical health since it aids in basic cellular function and, as a result, the proper functioning of the reproductive organs. Zinc also strengthens the immune system and helps to prevent common skin irritations. Since the body cannot absorb zinc without being bound to other substances, it is available as an inorganic and non-chelated chemical supplement.

The rising popularity of electric vehicles is expected to boost demand for automotive tires, boosting tire use in the automotive industry and driving the zinc chemical market. Due to the widespread use of zinc chemicals in galvanization and tire production, the rubber processing segment is expected to be the most profitable. Since Asia-Pacific countries such as China, India, Japan, South Korea, and Thailand are major automobiles, demand for zinc chemicals is expected to rise in this area over the forecast period.

Market Drivers:

The growing demand for chemicals from the agriculture industry, the expansion of the ceramics and glass industries, and the use of the commodity in cosmetics are some of the factors that will likely boost the market's growth. Increases in living standards, buying power parity, disposable income, and the increasing value of grooming and personal care will all help the zinc chemicals industry develop. Zinc Chemicals are commonly used as a vulcanization agent in the rubber compounding industry. Furthermore, new product launches and expanding applications and favorable reimbursement policies will lead to the Global Zinc Chemicals Market development.

Market Restraints:

Market restrictions for the growth of zinc chemicals in the forecast period include the imposition of regulatory requirements as well as price fluctuations in the zinc market. The decrease in zinc chemical use in the paint and coating industry will be the biggest challenge to the market's growth. Zinc oxide exposure can cause a flu-like illness in humans, with symptoms such as fever, cough, and a metallic taste in the mouth that can last for a day or two. The health risks associated with zinc chemicals, such as direct contact with the eyes or skin, can cause irritation, indigestion, and respiratory tract infection if consumed or inhaled, which are likely to hinder the market's development.

Market Opportunities:

Zinc sulfate's wound-healing and anti-inflammatory properties will expand its use in the treatment of skin diseases, opening up new opportunities for the zinc chemicals market during the forecast period. Seals, conveyor belts, and extruded and moulded rubber profiles are made in India by 40 tire manufacturers and about 6,000 non-tire manufacturers for use in automotive, railway, defence, aerospace, and other applications. Over the next five years, the zinc market will benefit greatly from new research and technological advancements in the field of zinc nanoparticles used for cancer detection, imaging, and treatment.

ZINC CHEMICALS MARKET REPORT COVERAGE

Market Segmentation:

Zinc Chemicals Market - By Type:

• Zinc Oxide
• Zinc Sulfate
• Zinc Carbonate
• Zinc Chloride

The zinc sulfate segment is the most popular, and it is expected to remain so in the near future. The agriculture industry uses zinc chemicals in the form of zinc sulphate as a fertilizer additive to help increase soil fertility. Zinc oxide is used in the curing of synthetic and natural rubber, which is used to make automobile tyres since it has properties like high heat resistance, chemical reinforcement, and compression fatigue. Soldering flux, galvanization, vulcanized rubber, and odor protection are only a few of the uses for zinc chloride as a solvent. Zinc carbonate is used in anti-microbial, anti-acne, anti-ageing, anti-pigmentation, and anti-inflammatory creams and lotions in cosmetics and personal care products due to its superior antiseptic and fungicide properties.

Zinc Chemicals Market - By Application:

• Rubber Compounding
• Agriculture
• Glass & Ceramics
• Paint & Coatings
• Food & Pharmaceuticals
• Textiles
• Chemicals

Zinc Chemical’s primary market has always been rubber compounding. Rubber compounds are made with zinc chemicals, which are used in rubber compounding. Zinc chemicals are used in the manufacture of radial and bias tyres, rubber shoes, conveyor belts, hoses, leather suits, and latex gloves. As a result, the rubber compounding segment is being driven by the automotive industry's growth. Zinc chemicals like zinc oxide and zinc oxide and stearic acid are used in the industrial processing of rubber.

Zinc Chemicals Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Asia Pacific accounts for a large portion of the market and is projected to expand at a rapid pace, with a promising CAGR. The growth of the zinc chemicals market is primarily driven by the rising population and personal disposable incomes in developing countries. Zinc chemicals are also in high demand in China and India due to their widespread use in rubber compounding. Another positive factor affecting the market is the demand for agricultural sprays and fertilizers from agriculture-driven economies such as India and China.

 Because of the strong pharmaceutical industry in the region, North America is expected to be a major market for inorganic zinc chemicals. Increased demand for automobiles will result in more rubber being used in tyres, which will ultimately drive regional product demand. In terms of advancing agrarian activities around the world, Europe has long been a leader. Zinc deficiency is, however, less common in European soil than in other areas of the world.

Impact of COVID-19 on the Zinc Chemicals Market:

As a result of the pandemic scenarios, most nations across the world went into lockdown to prevent the outbreak from spreading. The COVID-19 pandemic is currently affecting the tire industry. Several tire factories have temporarily shut down their operations. As buyers delay new car purchases, many carmakers have decreased or shut down vehicle production. Tire makers’ OEM business will likely suffer as a result. Between April and May 2020, the world's largest tiremaker will close eight tire factories, including its main passenger vehicle tire factory in Hikone, western Japan, and its main truck and bus tire manufacturing plant in Amagi. As a result, the COVID-19 effect is projected to have a negative impact on demand growth. Furthermore, unfavourable conditions resulting from the COVID-19 outbreak are expected to stifle the Zinc Chemicals Market development.

Market Key Players:

1. Rubamin
2. Zinc Oxide LLC
3. Weifang Longda Zinc Industry
4. Hakusuitech Co., Ltd.
5. S. Zinc
6. Zinchem
7. Votorantim Group.
8. BruggemannGruppe
9. Horsehead Holding LLC
10. TOHO ZINC CO., LTD.
11. Zinc Nacional S.A.
12. Uttam Industries

Market Recent Developments:

• G.H. Chemicals Ltd. and Microzinc Inc., collectively known as "GHC," were acquired by EverZinc in January 2019. The acquisition allows for product and business growth in Quebec, due to world-class facilities.
• Weifang Longda Zinc Industry Co., Ltd. co-organizes the Zinc Oxide Summit in 2019.
• OpenGate Capital purchased Umicore Zinc Chemicals in November 2016 for an undisclosed amount. EverZinc, a manufacturer of zinc-specialty chemicals, has been renamed. With operations in Belgium, the Netherlands, Norway, China, and Malaysia, the company specializes in three product areas: fine zinc powders, zinc oxide, and zinc for batteries.