NEWARK, DE / ACCESSWIRE / June 29, 2023 / The global zinc sulphate market is anticipated to attain a valuation of US$ 1.81 billion in 2023 and is expected to reach US$ 3.5 billion by 2033, trailing a CAGR of 6.8 % during the forecast period.
Zinc is widely utilized in the agrochemical industry to address zinc deficiencies in crops and enhance animal feed for improved health conditions. The growing demand for agricultural products has spurred the expansion of the agrochemical sector, creating opportunities for market expansion. The demand for zinc sulfate is expected to be driven by various factors such as:
- The rising prevalence of zinc deficiency globally.
- Its acceptance in pharmaceutical applications such as dietary supplements, parenteral nutrition, oral rehydration products, and nutraceuticals.
- The incidence of gastroenterological diseases.
The utilization of zinc sulfate in industrial chemicals, agrochemicals, and other key applications like corrosion inhibitors in water-treatment systems, flotation agents in the mining sector, and the production of detergents and cosmetics further contributes to its production growth.
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Zinc (Zn) deficiency affects agricultural soils and poses a significant problem for women and children in developing countries. Insufficient intake of zinc-rich foods, particularly cereal grains, contributes to this deficiency. Moreover, with a growing global population, there is an increased need for sufficient and nutritionally balanced food. This drives the requirement for adding essential nutrients like zinc to food crops through fertilizers.
According to the World Health Organization, zinc deficiency is linked to low respiratory tract infections, diarrheal diseases, and malaria, leading to a significant number of deaths. Consequently, the demand for zinc sulfate tablets is expected to rise in response to the increasing prevalence of zinc (Zn) deficiency.
The market is projected to experience growth due to the rising demand for zinc sulfate in the chemical industry. Its applications as a mordant, electrolyte, coagulant, and contribute to this increasing demand.
Key Takeaways:
- The market in India is projected to expand with a CAGR of 7.2% during the forecast period.
- The demand for zinc sulphate in China is expected capture a significant CAGR of 6.9% during the forecast period.
- By type, zinc sulphate monohydrate segment is expected to lead the market with a CAGR of 7.6% during the forecast period.
- India is projected to account for over 28% Asia Pacific zinc sulphate market by 2033.
"Wide use of zinc sulphate in the agrochemical industry to compensate for the deficiency of zinc in crops is expected to drive market growth over the forecast period," - says a lead Analyst at FMI.
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Competitive Landscape:
The market for zinc sulphate is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
Key Innovations in this Market:
- On August 19, 2022, Piramal Pharma's Critical Care division, a key provider of complex hospital generics, launched Zinc Sulfate Injection as the first generic product of its kind in the United States market.
- In September 2022, Redox obtained FAMI-QS certification from DNV Business Assurance Australia Pty Limited.
- The ICIS Chemical Business Magazine's annual Top 100 Chemical Distributors for 2023 has ranked Redox as the leading distributor in Australia, 12th in APAC, and 34th globally.
Key Companies Profiled:
- Balaji Industries
- Changsha Haolin Chemicals Co., Ltd
- Midsouth Chemicals
- Gupta Agricare
- China Bohigh
- Old Bridge Chemical
- Tianjin Topfert Agrochemical Co
- Rongqing Chemical Co. Ltd
- Clean Agro
- Oasis Fine Chem
- Saba Chemical GmbH
- Redox
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Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global zinc sulphate market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the zinc sulphate market, the market is segmented on the basis of type, application, and region.
Key Segmentation:
By Type:
- Anhydrous
- Hexahydrate
- Monohydrate
- Heptahydrate
By Application:
- Agrochemical
- Chemicals
- Pharmaceuticals
- Synthetic Fibers
- Water Treatment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer's
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter's Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
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Have a Look at Related Research Reports about the Chemicals & Materials domain:
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Zinc Chloride Market Demand: The global sales for zinc chloride are projected to reach US$ 426.4 Million by the end of the assessment period.
Barium Sulphate Market Growth: Global Barium Sulphate demand is anticipated to be valued at US$ 1,390.0 Million in 2022, forecast to grow at a CAGR of 4.9% to be valued at US$ 2,242.7 Million from 2022 to 2032.
Ammonium Sulphate Market Trends: The global demand for ammonium sulphate is projected to increase at a CAGR of 7.5% during the forecast period between 2022 and 2032, reaching a total of US$ 6.18 Billion in 2032
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