New York, May 10, 2023 (GLOBE NEWSWIRE) -- According to the Global Zinc Chloride Market research report by Reports Insights, the market achieved a valuation of USD 341.10 Million in 2022 and is projected to exceed USD 465.10 Million by 2030, exhibiting a steady growth rate of 3.5%.
Zinc chloride is a colourless or white crystalline solid with a strong odor that is widely used in various industries. This compound is highly soluble in water which makes it an ideal substance as an electrolyte in various electrochemical processes. Zinc chloride is commonly used as a catalyst in chemical reactions, particularly in the production of ethyl acetate and vinyl chloride. In the pharmaceutical industry, ZnCl2 is used as an astringent and antiseptic, in the manufacturing of dental cement among others.
The global zinc chloride market is driven by the increasing applications of ZnCl2 in various end use industries. The Asia Pacific region accounted for the largest market share in the zinc chloride market, owing to the rapid industrialization and increasing demand for the product in countries such as India and China. Additionally, the prevalence of market players such as Weifang Hengfeng Zinc Industry, Dongtai Coastal Zinc Industry Group Co., Ltd., Weifang Hengfeng Zinc Industry, and others are expected to create lucrative avenues for market growth in the region.
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Further, the market is expected to grow in the coming years, driven by the growing demand from the chemical industry, rapid industrialization, and the shift towards renewable and sustainable products.
Global Zinc Chloride Market Segmentation Details:
Based on Grade, the high purity grade segment accounted for the largest market share in 2022. A purity level of 98% or higher is referred to as high purity zinc chloride. In the electronics industry, high purity zinc chloride is used in the production of zinc-carbon batteries to ensure optimal performance. Furthermore, in the pharmaceutical industry, the compound is used in the production of anti-inflammatory and analgesic drugs. For instance, according to the report published by the India Brand Equity Foundation, the Indian pharmaceutical industry is projected to grow at a CAGR of 9.43%. Hence, advancing applications of high purity grade ZnCl2 in the healthcare industry is proliferating the segment growth.
Based on Form, the powder segment accounted for the largest market share in 2022. The key factor driving the growth of the segment is the ease of handling and transportation. Powdered zinc chloride is commonly used in the production of chemicals such as ethyl acetate and vinyl chloride, as well as in the manufacturing of wood preservatives and deodorants. For instance, America Elements, headquartered in U.S., offers zinc chloride in water-soluble, crystalline, white powder form. Further, powder form zinc chloride is generally more stable and has a longer shelf life, as a result, being used in a large scale for industrial applications.
Based on Application, the catalyst segment accounted for the largest market share in 2022. Zinc chloride is widely used as a catalyst in various chemical reactions. One of the major applications of ZnCl2 as a catalyst is in the production of ethyl acetate, which is used as a solvent in various end-use industries, and vinyl chloride, which is used in the production of PVC products. For instance, according to the report published by The European Council of Vinyl Manufacturers, PVC use grows by an average of 3% per year in the global market. Thus, the growing consumption of PVC products due to their versatility, durability, and low cost is a significant factor that will surge the demand for zinc chloride in the forecast years.
Based on End-Use Industry, the chemical segment accounted for the largest market share in 2022. The growth of the segment is attributed to the increasing demand for high-performance materials, renewable chemicals, among others. Zinc chloride is a versatile chemical that finds applications in the chemical industry, as a catalyst, flux, electroplating agent, polymerization catalyst, and others. Therefore, the increasing demand for specialty chemicals and sustainable practices are noteworthy factors determining an expected increase in the zinc chloride market.
Based on Region, the Asia-Pacific accounted for the largest market share in the zinc chloride market due to the prevalence of top textile manufacturing and exporting countries such as China and India. Further, ZnCl2 is used in the production of herbicides and fertilizers, to improve crop yields and prevent zinc deficiency in plants. The growth of the agriculture sector in the region is likely to spur the demand for zinc chloride. In addition to this, the prevalence of market players such as Weifang Hengfeng Zinc Industry, Dongtai Coastal Zinc Industry Group Co., Ltd., Weifang Hengfeng Zinc Industry, and others are expected to create lucrative avenues for revenue growth in the region.
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Zinc Chloride Market Research Covarages:-
| Report Attributes | Report Details |
| Market Size By 2030 | USD 465.10 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 3.5% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Zaclon LLC, American Elements, TIB Chemicals AG, Global Chemicals Co. Ltd., SA Lipmes, Weifang Dongfangsheng Chemical Co., Ltd., Dongtai Coastal Zinc Industry Group Co., Ltd., Flaurea Chemicals, Pan-Continental Chemical Co., Ltd., Merck KGaA, and Weifang Hengfeng Zinc Industry |
| By Grade |
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| By Form |
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| By Application |
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| By End-Use Industry |
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| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography |
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Key Market Highlights
- North America is projected to register the fastest growing CAGR in the Zinc Chloride market owing to the growing applications in various end use industries such as chemical, pharmaceuticals, and electronics in the region. The growing healthcare sector, coupled with increasing demand for personal care products is anticipated to accelerate the market growth.
- On the basis of grade, zinc chloride is segmented into high purity grade, battery grade, technical grade, and commercial grade.
- On the basis of form, zinc chloride is segmented into powder and liquid.
- On the basis of application, zinc chloride is segmented into water treatment, catalyst, fingerprint detection, alkyl chlorides, antiseptic & deodorants, rubber vulcanization, cell batteries, glue, wood preservatives, and others.
- On the basis of end-use industry, zinc chloride is segmented into electronics, chemical, cosmetics & personal care, textile, rubber, paper & packaging, wood industry, and others.
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Some Chapeters From Table Of Contents (TOC):-
5.Global Zinc Chloride Market Revenue: Competitive Analysis, 2022
5.1.Key Strategies by Players
5.2.Revenue (USD Million) and Market Share (%), By Manufacturers, 2022
5.3.Player Positioning by Market Players, 2022
6.Competitive Analysis
6.1.Zaclon LLC
6.1.1.Business Overview
6.1.2.Business Financials (USD Million)
6.1.3.Product Category, Type, and Specification
6.1.4.Main Business/Business Overview
6.1.5.Geographical Analysis
6.1.6.Recent Development
6.1.7.SWOT Analysis
6.2.American Elements
6.3.TIB Chemicals AG
6.4.Global Chemicals Co. Ltd.
6.5.SA Lipmes
6.6.Weifang Dongfangsheng Chemical Co., Ltd.
6.7.Dongtai Coastal Zinc Industry Group Co., Ltd.
6.8.Flaurea Chemicals
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