NEW YORK, Feb. 8, 2021 /PRNewswire/ -- The global zinc sulphate market report published by award winning market research company Fact.MR forecasts a gradual recovery through 2021, as end-use industries recuperate from the pandemic-induced sluggishness in 2020. Growth prospects for the forthcoming decade appear positive, expected to expand at a CAGR of around 6% through 2031.
Since the past half-a-decade, the zinc sulphate market has witnessed unprecedented gains, with revenue pools remaining largely concentrated across East Asia. Amongst all countries, China has emerged as the global zinc producing powerhouse, with production amounting to 1.9 million tons as of 2019. Consequently, several regional manufacturers have dominated the Chinese landscape, and are anticipated to continue doing so in the forthcoming decade.
Opportunities are also aplenty across India, with extensive applications across the agrochemicals segment. According to Zinc India, average zinc deficiency levels in soils are expected to rise to an estimated 63% by 2025. Presently, more than eight out of ten soils are zinc deficient, which is expected to impact food production to a very large extent. Similarly, over a quarter of the Indian population is at a risk of acute zinc deficiency. Therefore, application of zinc based fertilizers has been increasing in the past few years. It has been established that zinc enriched rice and wheat grains could save around 48,000 children annually.
"High natural abundance of zinc across key geographies is prompting various small-scale and medium-scale manufacturers to establish a robust market presence, leveraging such approaches as portfolio diversification and strengthening distribution networks to offer various forms of zinc sulphate formulations," comments the Fact.MR analyst.
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Key Takeaways from Fact.MR's Zinc Sulphate Study
- By type, zinc sulphate monohydrate to generate nearly two-thirds of the total revenue
- Agrochemicals to remain principal application area, owing to increased uptake in developing regions to address zinc deficiency
- Uptake in dietary supplements and oral rehydration therapy for diarrhea to heighten applications in the pharmaceutical segment
- U.S to generate significant revenue, owing to increasing uptake as nutrient injections
- U.K to register high annual growth, attributed to a proliferation vegan population who require 50% more zinc
- Germany and France to experience strong growth, owing to the presence of a robust chemical industry
- Global zinc production hegemony renders China a lucrative zinc sulphate market, India, Japan & South Korea to also register high growth
Competitive Landscape
Some prominent zinc sulphate manufacturers profiled by Fact.MR include Balaji Industries, Changsha Haolin Chemicals Co. Ltd., China Bohigh, Gupta Agricare, Mid-South Chemicals, Old Bridge Chemicals, Rech Chemical Co. Ltd., Tianjin Topfert Agrochemical Co. and Tianjin Xinxin Chemical Factory. The highly fragmented nature of the market renders it highly competitive, prompting players to diversify product offerings.
For instance, Changsha Haolion Chemicals manufactures zinc sulphate in monohydrate powder & granule and heptahydrate crystal forms respectively. The company primarily manufactures the salt for applications in producing synthetic fibers, zinc plating, flotation, pesticides, fungicides and water purification.
Likewise, Mid-South Chemicals manufactures zinc sulphate monohydrate for water treatment and as an important nutrient supplement across animal feeds. The company also follows strict packaging regulations, supplying the salt in 50 lbs. and 2000 lbs. super bags, with containers weighing under 1,000 lbs. exempt from DOT regulations and those exceeding the limit being labelled as "ENVIRONMENTALLY HAZARDOUS SUBSTANCE, SOLID, N.O.S. (Zinc Sulfate), UN3077, 9, PGIII, ERG 31."
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More Insights on the Zinc Sulphate Market
Fact.MR, in its new offering, presents an unbiased analysis of the global zinc sulphate market. The study divulges essential insights on the market on the basis of grade (zinc sulphate anhydrous, zinc sulphate hexahydrate, zinc sulphate heptahydrate and zinc sulphate monohydrate) and application (agrochemicals, chemicals, pharmaceuticals and synthetic fibers, water treatment, and others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Key Questions Covered in the Report
- Which region would lead the zinc sulfate market?
- How will the zinc sulphate market expand until 2030?
- Which is the most prominent zinc sulphate growth engine?
- What are the Potential Regions for Setting Up a Zinc Sulphate Plant?
- How Has COVID-19 Affected Zinc Sulphate Sales?
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