Zinc Acetate Industry Thriving Worldwide at a Significant Growth by 2030 | JOST CHEMICAL CO., CELTIC CHEMICALS

The global zinc acetate industry generated $138.3 million in 2020, and is anticipated to generate $229.0 million by 2030, witnessing a CAGR of 5.2% from 2021 to 2030.

Allied Market Research published a report, titled, "Zinc Acetate Market by Form (Dihydrate and Anhydrous) and Application (Dietary & Medicine, Analytical Reagent, Wood Preservative, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030".

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Prime determinants of growth:
The global zinc acetate market is propelled forward by the widespread application of zinc acetate in medicines, astringents, the expanding animal feed market, and an increased demand for wood preservation chemicals. Despite these positive factors, the market growth faces obstacles due to the presence of alternative zinc-based options. Conversely, the growing utilization of zinc acetate in diverse applications opens up new opportunities for the market in the upcoming years.

Leading Market Players
⦁ Celtic Chemicals
⦁ Fengchen Group Co. Ltd.
⦁ GFS Chemicals Inc.
⦁ Jost Chemical Co.
⦁ Kerry Group Plc.
⦁ Merck KGaA
⦁ Thermo Fisher Scientific
⦁ TIB Chemicals AG
⦁ FUJIFILM Corporation
⦁ Spectrum Chemical

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The dihydrate segment to maintain its leadership status throughout the forecast period
Based on form, the dihydrate segment held the highest market share in 2020, accounting for more than two-thirds of the global zinc acetate market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.4% from 2021 to 2030, owing to its wide range of applications such as dietary products, medicines, and chemicals.

The dietary & medicine segment to maintain its lead position during the forecast period
Based on application, the dietary & medicine segment accounted for the largest share in 2020, contributing to nearly two-thirds of the global zinc acetate market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 5.4% from 2021 to 2030. The segment includes the use of zinc acetate as a feed and food additive for making supplements, animal feed, capsules, tablets, astringents, and lozenges.

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Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global zinc acetate market. Moreover, the same region is expected to witness the fastest CAGR of 6.0% during the forecast period. This is attributed to the fact that the countries such as India and China have presence of large big base for supplements and animal feed.

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