Zinc Chemical Market Analysis :
Zinc chemical is an inorganic substance that is utilized broadly in a wide range of applications. For instance, zinc chloride is used for applications such as water treatment, catalysts, production of plastic, and others. Furthermore, zinc bromide is used in the petroleum industry as a completion fluid. Moreover, zinc oxide is majorly consumed in rubbers and tires. It is an important chemical for processing of rubber, owing to its cost efficiency and effectiveness as an activator and in the vulcanization stage. Vulcanization process links the rubber chains together by forming cross-links.
COVID-19 scenario analysis:
- The chemical market has been witnessing negative impacts of the COVID-19 outbreak.
- The end-use industries are witnessing decrease in sales, which is hindering the growth of the zinc chemicals market.
- There is a fall in the production of tires in car manufacturing units. Consequently, the proceeding with the spread of COVID-19 over the globe is probably going to affect the growth of chemical compound industries.
- With the spread of the novel coronavirus, numerous supply facilities of end-user industries have been halted
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Rapid growth of the automotive industry in regions, such as Asia-Pacific, and the growing ceramics and glass industry are the major factors that drive the market growth. The growth of the automobile sector is expected to increase the adoption of rubber in tires, thereby propelling the zinc chemical demand. However, zinc chemical substances are marginally dangerous in nature as direct contact with eyes or skin may cause irritation, heartburn, indigestion, and respiratory tract infection. Attributed to such dangers, there are some limitations presented by the European Commission (EU). This is expected to hinder the market growth during the forecast period.
Segments and applications of the zinc market
The zinc chemical market is segmented on the basis of type, application, and region. On the basis of type, the market is sub-divided into zinc oxide, zinc carbonate, zinc sulfate, zinc chloride, and others. Zinc sulfate displays the biggest development in the horticulture sector having a different application such as farming splashes, manures, and animal feed. Various applications of zinc chemical include agriculture, rubber compounding, chemicals, pharmaceutical, glass & ceramics, paints & coatings, and others.
Expansion analysis of zinc chemicals
The zinc chemical market is fragmented across five major areas, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa (LAMEA). Among these, Asia-Pacific is expected to grow, owing to growth of the automotive industry, agriculture sector, and others. Rise in adoption of zinc chemicals in the electronics & semiconductors industry is anticipated to offer lucrative opportunities during the forecast period. In addition, China, Japan, South Korea, and India have huge presence of electronics and semiconductors industries.
Key benefits of the report:
- This study presents the analytical depiction of the zinc chemical market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the zinc chemical market share.
- The current market is quantitatively analyzed to highlight the zinc chemical market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the zinc chemical market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Zinc Chemical Market Report Highlights
Key Market Players
Hakusui Tech Co. Ltd, American Chemet Corporation, Votorantim, Boliden Group, Rubamin, EverZinc Canada (GHC), Nyrstar, U.S. Zinc, Bruggemann GmbH & Co. KG., Weifang Longda Zinc Industry Co. Ltd., Akrochem Corporation, Zochem, Inc., Hindustan Zinc