Zinc Chemicals Market Size 2024 And Growth Rate

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.

Zinc Chemicals Market Growth Forecast

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.

Zinc Chemicals Market Driver: The Role Of The Automotive Boom In Propelling The Zinc Chemicals Market

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.

Zinc Chemicals Market Driver: Zinc Chemicals Market Surges Alongside Expanding Horizons Of The Rubber Industry

The increasing expansion of the rubber industry is expected to propel the growth of the zinc chemicals market in the coming years. The rubber industry is a diverse sector involved in the cultivation, processing, manufacturing, and distribution of rubber and rubber products. Zinc chemicals play a crucial role in rubber compounding, influencing various aspects such as vulcanization, adhesion, aging resistance, and heat resistance, which are essential for producing high-quality rubber products used in diverse applications. For instance, in June 2022, according to the Rubber & Tyre Expo Vietnam, a Vietnam-based internationally known trade event and conference featuring tire and rubber product producers, global natural rubber output reached 1.1 million tons, an increase of 3.8% over the same time in 2021, while utilization totaled 1.2 million tons, an increase of 5.8% over June 2021. Therefore, the increasing expansion of the rubber industry is driving the zinc chemicals market.

Global Zinc Chemicals Market Major Players

Major companies operating in the zinc chemicals market report are 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 .

Global Zinc Chemicals Market Trend: Technological Advancements Steer The Zinc Chemicals Market Toward New Horizons

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.

Global Zinc Chemicals Market Trend: Nevada Zinc Corporation's Strategic Partnership With Belzinc Srl Paves The Way For Advanced Zinc Oxide Production

Major companies operating in the zinc chemicals market are adopting a strategic partnership approach, aiming to use unique manufacturing technologies for zinc oxide. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2023, Nevada Zinc Corporation, a Canada-based manufacturing company of zinc chemicals, announced a strategic partnership with BelZinc Srl. The primary goal of the strategic collaboration is to develop Nevada Zinc as a Nevada-based zinc oxide producer using feedstock from the company's Lone Mountain non-sulphide zinc deposit and BelZinc's patented production technology. Zinc oxide manufactured by the company using BelZinc's patented production technology will be supplied under contract to zinc smelters to help them reduce hazardous emissions from their smelting processes. BelZinc will receive 12,000,000 common shares of Nevada Zinc, indicating an approximate 10.8% ownership interest, as compensation for offering Nevada Zinc access to its exclusive zinc oxide production technology and providing the company with the privilege of first refusal for involvement in all future BelZinc projects in North America. BelZinc Srl is a Belgium-based company that offers a unique processing approach for producing high-quality zinc oxide.

Zinc Chemicals Market Merger And Acquisition: U.S. Zinc's Acquisition Of Everzinc Propels Ambition To Lead Global Zinc Chemicals Market

In June 2022, U.S. Zinc., a portfolio company of Aterian Investment Partners and a US-based manufacturer, recycler, and supplier of zinc oxide, zinc dust, zinc metal, and zinc fines acquired EverZinc for an undisclosed amount. With this acquisition, Aterian Investment Partners aims to become the world’s largest maker of zinc chemical products. EverZinc is a portfolio company of OpenGate Capital, and a Belgium-based company engaged in the production of zinc chemicals with four product lines such as fine zinc powders, zinc oxide, zinc powders for batteries, and Zano.

Regional Analysis For The Global Zinc Chemicals Market

Asia-Pacific was the largest region in the zinc chemicals market in 2023. North America is expected to be the fastest-growing region in the zinc chemicals market report during the forecast period. The regions covered in the zinc chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the zinc chemicals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The zinc chemicals market consists of sales of zinc chemicals used in cosmetics, plastics, inks, soaps, batteries, and electrical equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The zinc chemicals market research report is one of a series of new reports from The Business Research Company that provides zinc chemicals market statistics, including zinc chemicals industry global market size, regional shares, competitors with zinc chemicals market share, detailed zinc chemicals market segments, market trends, and opportunities, and any further data you may need to thrive in the zinc chemicals industry. This zinc chemicals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.