Segmentation:
Global Zinc Chemicals Market is segmented into Product Type, and End-User.
On the basis of Type, the market is segregated into zinc oxide, zinc sulfate, zinc carbonate, zinc Chloride.
The market by Application Industry is further categorized into rubber compounding, agriculture, glass and ceramics, paints and coatings, chemicals, food and pharmaceuticals, textiles, and others.
Key Players:
Some of the Prominent Players Operating in the Global Zinc Chemicals Market are U.S. Zinc (U.S.), GHC (Canada), Weifang Longda Zinc Industry (China), Hakusuitech co. Ltd (Japan), American Chemet Corporation (U.S.), Rubamin (India), Zinc Oxide LLC (US), Akrochem corporation (U.S.), American chemet corporation (U.S.), and BrüggemannGruppe (Germany) among others.
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Market Highlights:
Zinc Chemicals are widely used in the rubber compounding industry as a vulcanization agent which is further demanded by the plastic and automobile industry for the production of radial tires, bias tires, glass, ceramics, conveyor belts, hose, and others. Zinc chemicals are extensively used in the agricultural industry as sprays, fertilizers and are also used in the animal feed. The Global Zinc Chemicals Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to be the fastest growing market, owing to the increasing consumption of Zinc Chemicals in the construction, automobile and agricultural industry among others. It is estimated that the rubber compounding application segment is set to observe the highest CAGR in the market due to growing demand from the automotive sector. Moreover, increasing demand for electrical and electronics, cosmetics and other healthcare products is likely to witness a rapid growth during the forecast period. In addition, the presence of agrarian economies in the region has further augmented the demand for fertilizers and animal feed, hence, adding to the growth of the market. Furthermore, the presence of the largest rubber manufacturers in the world namely Indonesia, and China the demand for Zinc Chemicals is expected to increase during the forecast period.
The North American market is expected to grow at a steady CAGR due to extensive consumption of Zinc Chemicals in the construction and automobile sector. U.S., and Canada, have achieved a significant place in the market due to the growing investments in the building and construction industries coupled with the increase wave of government spending for the development and renovation of infrastructure.
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A moderate development is achieved in Europe due to the growing demand for the product in the developed personal care and health care industry. The high adoption rate of Zinc Chemicals coupled with the increasing demand from automobile sector are other factors contributing to the market growth. In addition, the favorable European Union regulations for the use of Zinc Chemicals in beauty products coupled with the increasing demand for zinc chemicals form the agricultural sector are also adding to the market growth. U.K, Germany, and France among others are some the major countries adding to the growth.
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