The global zinc acetate market was valued at $138.3 million in 2020, and is projected to reach $229.0 million by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Zinc acetate is one of the key ingredients in manufacturing medicines and dietary products. Being an astringent, it is used in the production of anti-acne creams and ointments. Zinc supplements containing zinc acetate are taken daily for meeting zinc requirements in humans. It is found in medicines prescribed for common cold and diarrhea as well as age-related muscle degeneration. Zinc acetate is used as a wood preservative, feed additive, dye additive, and catalyst.
Surge in use of zinc acetate in making medicines & astringents, increase in global demand for animal feed products, and rise in consumption of wood products are the major drivers of the global zinc acetate market. Moreover, changes in lifestyle and dietary habits have led to insufficient intake of zinc that can cause various health issues. Access to better diagnostics and primary health care has led to more awareness toward zinc deficiency. As result, there is a significant consumption of zinc acetate-based supplements. Similarly, the demand for nutritional products is on rise, and is expected to grow during the forecast period. Zinc acetate is further sold as an astringent in the form of an ointment, a topical lotion, or combined with an antibiotic for making a topical anti-itch ointment. In recent years, the demand for over-the-counter topical agents has shown significant growth. Moreover, need for preventing the degradation of wood has increased due to high consumption. Owing to improvement in lifestyle and increased purchasing power, decorations at home are made from wood, thereby boosting the sales of wood preservative chemicals such as zinc acetate.
On the contrary, availability of other zinc-based additives is considered as a major restraint in the global zinc acetate market. Zinc oxide, zinc gluconate, and zinc citrate are some of the alternatives to zinc acetate. Each of these chemicals have similar uses and applications that could limit the demand for zinc acetate. For instance, similar to zinc acetate, zinc gluconate is often used in cold remedies, such as lozenges and nasal sprays. Zinc oxide further provides sufficient iron to an animal’s body and is added to animal feed products.
Furthermore, rise in demand for zinc acetate from other applications is expected to offer lucrative opportunities for the market growth during the forecast period. In addition, zinc acetate is used as a catalyst in producing various specialty chemicals such as polyamides and is used in the production of vinyl esters. In the synthesis of Zn-Co catalyst for acetylene acetoxylation, zinc acetate is considered to be an ideal catalyst active ingredient when taking into account product quality and environmental and economic factors. Thus, new applications will prove to be conducive for the global zinc acetate market growth.
The global zinc acetate market is segmented into form, application, and region. On the basis of form, the global zinc acetate market is bifurcated into dihydrate and anhydrous. Applications of zinc acetate include dietary & medicine, analytical reagent, wood preservative, chemical, and others. Region wise, the global zinc acetate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players engaged in the production of zinc acetate are Celtic Chemicals, Fengchen Group Co. Ltd., GFS Chemicals Inc., Jost Chemical Co., Kerry Group Plc, Merck KGaA, Thermo Fisher Scientific, TIB Chemicals AG, FUJIFILM Corporation, and Spectrum Chemical.
Zinc acetate market, by region
Asia-Pacific accounted for the largest market share in the global zinc acetate market, and is projected to grow at a CAGR of 6.0%. This is attributed to the fact that the countries such as India and China have presence of large big base for supplements and animal feed.
Asia-Pacific is projected to grow at the highest CAGR of 6.0%
Zinc acetate market, by form
Depending on the form, the dihydrate segment accounted for the largest market share in 2020, owing to its wide range of applications such as dietary products, medicines, and chemicals. High ongoing demand for zinc-based supplements for addressing zinc deficiency will boost production of zinc-based medicines and food supplements.
Dihydrate segment is projected to be the lucrative segment
Zinc acetate market, by application
On the basis of application, the dietary & medicine segment accounted for the largest revenue share in 2020, and is expected to grow at the highest CAGR of 5.4%. The segment includes the use of zinc acetate as a feed and food additive for making supplements, animal feed, capsules, tablets, astringents, and lozenges.
Dietary & Medicine segment is projected to grow at the highest CAGR during the forecast period
Key benefits for stakeholders
- The report outlines the current zinc acetate market trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
- The profiles of key players and their key strategic developments are enlisted in the report.
Zinc Acetate Market Report Highlights
Key Market Players
FENGCHEN GROUP CO. LTD., JOST CHEMICAL CO., SPECTRUM CHEMICAL, MERCK KGAA, THERMO FISHER SCIENTIFIC, TIB CHEMICALS AG, GFS CHEMICALS INC., KERRY GROUP, CELTIC CHEMICALS, FUJIFILM HOLDINGS CORPORATION
This section gives the opinions of the top-level CXOs operating in the global zinc acetate market. According to the insights of CXOs, the demand for zinc acetate will continue to be majorly from the dietary and medicine sectors. This is attributed to the fact that zinc acetate is a critical pharmaceutical ingredient, which is used in various tablets, capsules, and lozenges. Global healthcare infrastructure is improving and ever-expanding. This trend will increase access to early diagnostics and treatment, thereby requiring more zinc supplements. Moreover, zinc will be required in the animal feed products and zinc acetate will continue to be a zinc feed additive in the sector. Other applications that are poised to be conducive for the growth of the global zinc acetate market are analytical reagents and wood preservatives.