Revenue in the Zinc Sulphate Market is projected to reach US$ 1.91 bn in 2024, showing an annual growth rate (CAGR) of 5.5% (2024-2032), resulting in a projected market volume of US$ 2.92 bn by 2032

The global zinc sulphate market size was USD 1.82 billion in 2023. The market is set to rise from USD 1.91 billion in 2024 to USD 2.92 billion by 2032 at a CAGR of 5.5% during 2024-2032.

An inorganic compound that works as a and is highly preferred in different medical applications to avoid or treat zinc deficiency is zinc sulphate. Rapid product adoption in the agriculture industry to strengthen soils and animal feeds due to their crucial role in plant and animal physiology is driving market expansion.

The COVID-19 pandemic had a detrimental effect on market growth owing to increased difficulties in mining operations and zinc sulphate production.

Fortune Business Insights presents this information in their report titled "Zinc Sulphate Market Size Report, 2024-2032."

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List of Key Players Profiled in the Report:

Balaji Chemicals (India)
Changsha Haolin Chemicals Co., Ltd. (China)
Bohigh Group (China)
Old Bridge Minerals Inc. (U.S)
Rongqing Chemical Co. Ltd (China)
Clean Agro (India)
Oasis Fine Chem (India)
FUJI KASEI CO., LTD. (Japan)
GRILLO-Werke AG (Germany)
Prakash Chemicals (India)
Segments

Heptahydrate Segment Commanded the Market Due to Its High Solubility in Water

By type, the market is classified into heptahydrate, monohydrate, anhydrous, and hexahydrate.

The heptahydrate segment registered the highest zinc sulphate market share as it is extremely soluble in water and is highly used in solutions. Zinc sulphate heptahydrate comprises one zinc ion, one sulphate ion, and seven water molecules (hydration).

Rising Need for Different Biochemical ProceduresinAgriculture Propels Demand forAgrochemicals

On the basis of application, the market is categorized into agrochemicals, pharmaceuticals, chemical synthesis, synthetic fibers, water treatment, and others. The agrochemicals segment takes lead in the global market as zinc sulphate performs as a crucial micronutrient for plants. The increased need for different biochemical procedures in the agriculture industry is also fueling segment expansion.

From the regional ground, the market is classified into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.

Report Coverage

The market research report presents a complete market examination, highlighting essential elements, including the competitive environment and noticeable product categories. Furthermore, the report provides valuable insights on market trends and significant industry developments. Apart from the factors above, the report includes several aspects that have fostered market expansion in recent times.

Drivers and Restraints

Increase in Government Efforts to Enhance Crop Yield to Catalyze Market Growth

There is an increase in government efforts to improve agricultural productivity. The rapid innovation of farming techniques and growing usage of fertilizers are enhancing crop yields. One such effort includes boosting the usage of zinc sulphate as a micronutrient fertilizer, making it essential in plant growth and health. Governments and agricultural organizations are focusing on educating farmers about the significance of soil health and micronutrients.

Farmers become more conscious of the advantages of zinc sulphate in increasing crop yield. Increased demand for productive and sustainable agricultural sprays is attributed to surging government efforts to identify and address the micronutrient requirements of crops. All these factors are fostering the zinc sulphate market growth.

On the other hand, fluctuations in raw material prices are hindering market growth.

Regional Insights

Rapid Expansion of the Agriculture and Healthcare Sectors Augmented Market Growth in Asia Pacific

Asia Pacific dominated the global market due to the rapid expansion of the agriculture and healthcare sectors. China emerges as a leading country in the region as it is a major production center.

North America is predicted to register significant growth over the projected period as the U.S. accounts for a noticeable position in the market. The surging need for pharmaceutical applications is boosting market expansion in the region.

Competitive Landscape

Key Companies EmphasizeProduct Approvals to Improve Their Market Positions

The presence of prominent and competitive players is fostering market development. Key companies emphasize product approvals and innovations in drug formulations to enhance their market positions.

Key Industry Development

August 2023: A company situated in Ahmedabad named Zydus Lifesciences Ltd. announced that it achieved the final approval from the U.S. Food and Drug Administration (USFDA) for Zinc Sulfate Injection USP. The company will manufacture the drug at its formulation production unit in Jarod.
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This release was published on openPR.