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Zinc Chemicals Market Report 2024 - Zinc Chemicals Market Analysis, Share And Opportunities
Zinc Chemicals Market
According to The Business Research Company's, The zinc chemicals market size has grown strongly in recent years. It will grow from $9.88 billion in 2023 to $10.45 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to galvanization in construction, automotive industry demand, battery manufacturing, pharmaceuticals and health products, increased applications intextile industry.
The zinc chemicals market size is expected to see strong growth in the next few years. It will grow to $13.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rise in renewable energy, water treatment applications, expansion of agriculture practices, demand for anticorrosive coatings, growing awareness of zinc benefits, increasing demand in end-use industries.. Major trends in the forecast period include technological advancements in production, advancements in battery technology, smart agriculture practices, advancements in pharmaceutical formulations, market consolidation and strategic alliances.
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Market Drivers and Trends:
The rapid growth of the automotive industry is expected to drive the zinc chemicals market. The automotive sector includes businesses involved in the manufacture, distribution, retail, and upkeep of automobiles. Zinc is the most crucial component in the production of automotive parts such as door lock housing, pawls, retractor gears, and pulleys for seat belt systems as well as camshaft and sensor components. It is possible to achieve strength, ductility, and malleability with this metal and its alloys which is not feasible with other materials. For instance, according to Zippia Inc., a US-based online recruitment services company, in 2022, the US market for the production of cars and automobiles will be worth $100.9 billion overall producing 9.2 million US vehicles in 2021. Also, as of 2021, the motor vehicle and parts industry in the United States generated $1.53 trillion in revenue. Therefore, the rapid growth of the automotive industry is driving the growth of the zinc chemicals market.
Technological advancement is the key trend gaining popularity in the zinc chemicals market. Major companies operating in the zinc chemicals market are focused on developing technologically advanced chemicals to strengthen their market position. For instance, in November 2021, Bimeda, an Ireland-based manufacturer, marketer, and distributor of animal health products and veterinary pharmaceuticals launched Zinc Oxide Spray, a skin-protection ointment. The Zinc Oxide Spray, which contains zinc oxide, lanolin, and allantoin, can be used on a variety of animals, including cattle, horses, sheep, goats, pigs, and dogs. The zinc oxide spray from Bimeda dries to form an air-permeable protective coating that guards against irritants such as dirt, sweat, urine, moisture and wound secretions. The product can also be used as skin protection before putting plaster casts and to cover the skin around fistulas.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
U.S. Zinc Corp.; Akrochem Corporation; American Chemet Corporation; Hindustan Zinc Ltd.; L. Brüggemann GmbH & Co. KG; Old Bridge Chemicals Inc.; Pan-Continental Chemical Co. Ltd.; Purity Zinc Metals LLC; Rubamin Private Limited; Seyang Zinc Technology Co. Ltd.; TIB Chemicals AG; Transpek-Silox Pvt. Ltd.; Unique Specialty Chemicals; Votorantim SA; Weifang Longda Zinc Industry Co. Ltd.; Zinc Oxide LLC; Zochem Inc.; Glencore plc; Vedanta Resources Limited; Trevali Mining Corporation; MMG Limited; Zinc Industrias Nacionales S.A.; ZincOne Resources Inc.; ZincFive Inc.; EverZinc Belgium SA; Teck Resources Limited; Bruggemann Chemical US Inc.; Chemetall GmbH; Chemtrade Refinery Services Inc.; EMD Performance Materials Corp.; G.H. Chemicals Limited; Global Chemical Co. Ltd.; Grillo-Werke AG; Hubei Hongyuan Pharmaceutical Technology Co. Ltd.; Hunan Jingshi Group Co. Ltd.; Jost Chemical Co.; KVB Processors Pvt. Ltd.; Numinor Ltd.; PMC Group Inc.; Shepherd Chemical Company; Umicore NV; Zinc Nacional SA
Zinc Chemicals Market 2024 Key Insights:
• The zinc chemicals market will grow to $13.07 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.
• The Role Of The Automotive Boom In Propelling The Zinc Chemicals Market
• Technological Advancements Steer The Zinc Chemicals Market Toward New Horizons
• Asia-Pacific was the largest region in the zinc chemicals market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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