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Zinc Chemicals Market Key Profiles, Growth Driver, Industry Outlook, Region, Outlook, Competition
Zinc Chemicals Market – Overview
Zinc Chemicals possess unique properties and are mainly utilized in numerous end use application such as paints & coatings, agriculture, food, pharmaceutical, rubber compounding, glass & ceramics, and others. The market is predicted to witness significant growth owing to their utilization in various end use industries specifically in agriculture, food & beverage, construction, and automotive industry. Based on the product type segment, zinc sulfate accounted to hold maximum share in 2016 and is expected to register strong growth due to rising use in the manufacturing of consumer goods, animal feed, and fertilizer. Furthermore, expanding construction sector in emerging economies along with rising consumption of zinc-based paints & coatings is expected to fuel the growth of the market during the review period.
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Geographically, Asia Pacific estimated to lead the market share for zinc chemicals in 2016, followed by North America which is further trailed by Europe. In Europe, zinc chemicals market is estimated to register steady growth owing to shifting consumer preference towards the zinc chemicals-based products combined with increasing usage in various end use application segment specifically in Poland, France, UK, Germany, Spain, and Russia. Asia Pacific is predicted to witness tremendous growth during the assessment period in zinc chemicals market during the period, 2017 to 2023.
The demand for zinc chemicals is estimated to raise in several countries of Asia Pacific such as the Philippines, Japan, India, Indonesia, Malaysia, Taiwan, South Korea, and China on account of rising population coupled with shifting of manufacturing units for most of the substantial market players in this region. The North American zinc chemicals market is expected to witness moderate growth during the assessment period on account of substantial growth of food & beverage and glass & ceramics industry in this region.
In North America, zinc chemicals market is further segmented into Canada and the U.S., among these the U.S. is estimated to hold major regional market share of zinc chemicals due to strong presence of key manufacturers in this region. Furthermore, numerous countries of Latin America and the Middle East & Africa are estimated to witness above average growth in zinc chemicals owing to increasing per capita disposable income coupled with sales of zinc chemicals based product specifically in Venezuela, Mexico, Argentina, and Brazil along with growing commercial, institutional, and residential construction activities specifically in Qatar, Saudi Arabia, Oman, Israel, Turkey, Kuwait, and the UAE.
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Industry/ Innovation/ Related News:
January 2018- Grillo Zinkoxid GmbH, Germany based manufacturer of zinc oxide announced to sign an agreement with Biesterfeld Spezialchemie to distribute pharmaceutical zinc oxides in the European region. This agreement will help company to increase their footprint across the globe.
December 2017- Lundin Mining announced to expand their zinc plant capacity from existing 1.1 million tonnes per year to 2.5 million tonnes. With this expansion, the company will expand its production capacity to meet the increasing demand for zinc oxide.
The Zinc Chemicals report has analysed the level of competition among the key operating players in zinc chemicals market as well as sector growth and market scenario. The global zinc chemicals market composed of large number of suppliers operating in the market which includes large scale and medium scale manufacturers.
The noticeable producers of zinc chemicals and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from Taiwan, South Korea, Indonesia, India, Bangladesh, China, Thailand, the Philippines, Singapore, Malaysia, Australia, and Japan.
In addition, the key industry participants of zinc chemicals are observed to follow various strategic plans to improve their product portfolio such as distribution agreements, joint ventures, product launches, strategic acquisition and mergers, and exclusive agreements. Numerous major manufacturers in this market are predicted to expand their manufacturing capacity of zinc chemicals to meet the increasing demand for zinc chemicals across the globe.
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