Global Zinc Sulfate Market By Type (Zinc sulfate Anhydrous, Zinc sulfate Monohydrate, Zinc sulfate Hexahydrate, Zinc sulfate Heptahydrate), By Application (Medicine (Dietary Supplement, Astringent, Others), Agrochemical (Fertilizer, Animal Feed, Herbicide, Others), Chemical (Dyes & pigments, Catalyst, Preservative, Bleaching, Others), Water Treatment, Others), By Region (North America, Europe, the Asia-Pacific, SouthAmerica, and the Middle East and Africa); Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: August 2021
- Report ID: BWC2123
- Available Format: PDF
- Page: 150
Report OverviewOnce known as white vitriol, Zinc Sulfate is an inorganic chemical with the formula ZnSO4. It's a crystalline solid that iscolorless, odorless, and tasteless. The solution is easily soluble in water, has a slight acidity, and is only mildly soluble in ethanol and glycerol.
The global zinc sulfate market reached USD 631.5million in 2020 and is further projected to reach USD 898.0million by 2027, growing at a CAGR of 5.8% during 2021-2027 (forecast period). The growth of the global zinc sulfatemarket can be attributed to the rising demand for applications such as raw materials for latex products, pigment lithopone, desulphurization process, and zinc sulfate, which is a moss control herbicide. The end-use of zinc sulfate as a fertilizer additive in agriculture to prevent and correct zinc deficiency in crops, as well as its application in animal feeds, will have an impact on the global zinc sulfate market in the future years. A pivotal factor expected to contribute to the growth of the global zinc sulfate market is its use as a dietary supplement to treat zinc deficiency in humans, as a fertilizer, and as an agricultural spray to add nutritional value to crops.
Global Zinc Sulfate Market Overview
Once known as white vitriol, Zinc Sulfate is an inorganic chemical with the formula ZnSO4. It's a crystalline solid that iscolorless, odorless, and tasteless. The solution is easily soluble in water, has a slight acidity, and is only mildly soluble in ethanol and glycerol. Nontoxic, flammable, and combustible, Zinc Sulfate is hygroscopic, efflorescent, and is very hygroscopic. This inorganic, colorless crystalline solidcan be of two types— hexahydrate (ZnSO4.6H2O) and heptahydrate (ZnSO4.7H2O). Zinc sulfate is listed in the list of essential medicine by the WHO. Zinc sulfate decomposition results in the release of sulfur oxide and zinc oxide. Zinc sulfate is used in a variety of industries and is an important substance for treating zinc deficiency in soil and humans.
Global Zinc SulfateMarket Forecast and Trends
Increased in zinc deficiency disorders across the globe, Expansion in Agrochemical Industry
The global zinc sulfate market is being driven by an increase in zinc-deficient diseases around the world. The trajectory for such an increase is projected to continue over the next few years as well. Zinc deficiency causes various problems, including stunted growth, weakened immunological function, and a loss of appetite. As a result, zinc sulfate is used as a dietary supplement to treat zinc insufficiency. According to the journal published in Scientific Reports, are over 1.1 billion zinc-deficient people across the world.Zinc deficiency in humans is caused by a lack of zinc in the diet, poor absorption of zinc, and persons with chronic conditions. Thus, due to the above-mentioned factors, the use of zinc sulfate dietary supplements has propelled the growth of the global zinc sulfate market.
Expansion in Agrochemical Industry
Zinc sulfate, which is a major ingredient for fertilizers and feed supplements, has been witnessing significant growth in the agrochemical industry. Zinc sulfate is used by farmers for crops such as pecans, deciduous fruits, peanuts, cotton, corn, and citrus. Zinc sulfate is also added to cattle, poultry, and swine feeds to enhance nutrition. Moreover, zinc sulfate-based fertilizers are gaining momentum in the agrochemical sector as they are more water soluble. A report by India Brand Brief Foundation estimates that food grain production reached 296.65 million tonnes in 2019-2020. India is one of the largest producers of food grains in the world.The Indian government is targetting the production of food grains to 298 million tonnes[M1] in 2019-2020.Thus, the increased growth of the agrochemical industry as a result of the growing agriculture industry is driving the global zinc sulfate market.
Toxic if Ingested in Large Doses
Side-effects are a significant restraint on the growth of the global zinc sulfate market. Zinc sulfate, for example, if consumed in large doses in the human body, may result in vomiting, abdominal pain, anemia, nausea, diarrhea, and in severe cases, blood vomiting. As stated in a journal published by the University of Michigan Health, zinc sulfate should only be consumed under a doctor's prescription and in an amount the body requires. Overdosageof zinc sulfatecan lead to several side effects, such as hives, difficulty breathing, swelling of the face, lips, tongue, or throat. As a result, the aforementioned challenges have proven to be major bottlenecks in the global zinc sulfate market's growth.
Impact of COVID-19 on Global Zinc sulfateMarket
The COVID-19 pandemic has negatively impacted the global zinc sulfate market. However, the demand was a little high from the supplement application. ZINC has been long recognized as a crucial part of the COVID-19 therapy strategy throughout the world. Several studies have suggested that zinc supplementation may be beneficial for both prophylaxis and treatment of COVID-19. Zinc sulfate has a number of antiviral effects, both direct and indirect, that are achieved through several mechanisms.The properties enhance antiviral immunity and promote the regeneration of depleted immune cells. Several clinical trials have also found that administration of zinc sulfate and hydroxychloroquine reduced in-hospital mortality.The ongoing pandemic has increased zinc sulfate's usage across the healthcare sector. However, the agriculture sector witnessed a sharp decline amid the rising infection rates that disrupted the supply chain for the fertilizers, thereby negatively impacting the growth of the global zinc sulfate market on an overall scale.
Global Zinc SulfateMarket- By Type
Based on product type, the global zinc sulfate market has been segmented into zinc sulfate anhydrous, zinc sulfate monohydrate, zinc sulfate hexahydrate, and zinc sulfate heptahydrate. Zinc sulfate monohydrate accounted for the largest market share in the year 2020 and is expected to grow at a brisk CAGR during the forecast period. Zinc sulfate monohydrate dominates the global zinc sulfate market due to the increased demand for zinc sulfate in agriculture and fertilizers as a fertilizer component to prevent and repair zinc deficiencies in crops. In the coming years, zinc sulfate heptahydrate is expected to record the highest CAGR in the market due to its applications in medicine, in electrolytes for zinc plating, and in dyeing.
Global zinc sulfate Market- By Application
Based on applications, the zinc sulfate market is segmented into medicine, agrochemical, chemical, water treatment, and others. The agrochemical segment held the biggest market share across the segment in 2020 and is further predicted to register a strong CAGR over the coming years. The growth in the agrochemical segment is due to the use of zinc sulfate as a source of zinc in granular fertilizers, owing to which, the agrochemical industry is expected to lead the global zinc sulfate market. The agriculture industry is the largest source of generating GDP in some of the developing countries. However, the medicine segment will be the fastest-growing market registering the strongest CAGR across all segments during the forecast period. The growth can also be attributed to the increasing use of zinc sulfate as an oral rehydration therapy for children with diarrhea.
Global Zinc sulfateMarket- By Region
Geographically, the global zinc sulfate market is divided into North America, Europe, the Asia Pacific, South America, and the Middle Eastand Africa. Asia Pacific held the majority of market shares in 2020 with the segment expected to grow at an accelerating CAGR during the forecast period.The prevalence of zinc deficiency is alarmingly high in India, Bangladesh, Sri Lanka, Malaysia, Indonesia, and Papua New Guinea; consequently, zinc sulfateis witnessing rising demand across the APAC countries. A large portion of India's population works in agricultural-related occupations. The country also has a high rate of infant mortality. Hence, the Indian government is takingstringent step towards addressing the rising zinc deficiency across the country by reducing the costs of medicines and making zinc sulfate supplements available in the pharmaceutical industry to prevent these deficiencies.
Source: BlueWeave Consulting
The global zinc sulfate market is moderately fragmented with a lot of small players engaging in offering zinc sulfate products around the world.As a result of this fragmentation, there is a growing opportunity for new entrants to enter the industry, which has been reducing market share for large firms around the world. The major companies in the global zinc sulfate market are Bohigh Zinc Product Co., Ltd., Changsha Newsky Chemical Co Ltd., Tianjin Xinxin Chemical Factory, Tianjin Topfert Agrochemical Co. Ltd., Hengyang Best-selling Chemical Industry Co Ltd., ISKY Chemicals Co Ltd., Changsha Haolin Chemicals Co. Ltd., Midsouth Chemical Company Inc., Changsha Latian Chemicals Co. Ltd, Rech (Rongqing) Chemical Co. Ltd, Tianjin Xinxin Chemical Factory, Zinc Nacional, Hemadri Chemicals, Tianjin TopfertAgrochemicialCo., P D NavkarBiochemPvt. Ltd., Old Bridge Chemical Inc., Vinipul Inorganics Private Limited, SulfozymeAgro India Pvt. Ltd., and other prominent players. To prevent minor firms from eating into their market shares, major market players are leveraging investments to form partnerships and engage in mergers and acquisitions.
- In June 2020, The former Rech Chemical Division 2 was renamed Changsha RongQing Chemical Co. LTD in order to develop the global market and provide more precise and flexible settlement options for sulfate salt clients both domestically and internationally.It has only updated its company name rest of the other things are the same.
- In August 2020,Zinc Nacional and Jean Goldschmidt International agreed to acquire the Zinc recycling business of Harz-Metall GmbH in Lower Saxony, Germany. The company did not disclose the price of the deal.
Scope of Report
Historical data- 2017-2020
Base Year- 2020
Revenue in USD million, Volume in KT
US, Canada, Germany, UK, France, Italy, Spain, Russia, Brazil, India, China, Japan, South Korea, Argentina, Mexico, UAE, South Africa, Saudi Arabia, and others
Product/ Service segmentation
By Type, By Application, By Region
Bohigh Zinc Product Co., Ltd., Changsha Newsky Chemical Co Ltd., Tianjin Xinxin Chemical Factory, Tianjin Topfert Agrochemical Co. Ltd., Hengyang Best-selling Chemical Industry Co Ltd., ISKY Chemicals Co Ltd., Changsha Haolin Chemicals Co. Ltd., Midsouth Chemical Company Inc., Changsha Latian Chemicals Co. Ltd, Rech (Rongqing) Chemical Co. Ltd, Tianjin Xinxin Chemical Factory, Zinc Nacional, Hemadri Chemicals, Tianjin TopfertAgrochemicialCo., P D NavkarBiochemPvt. Ltd., Old Bridge Chemical Inc., Vinipul Inorganics Private Limited, SulfozymeAgro India Pvt. Ltd., and others prominent players.
- Zinc sulfate Anhydrous
- Zinc sulfate Monohydrate
- Zinc sulfate Hexahydrate
- Zinc sulfate Heptahydrate
- Dietary Supplement
- Animal Feed
- Dyes & pigments
- Water Treatment
- North America
- The Asia-Pacific
- South America
- The Middle East and Africa
- What is the current size of the global zinc sulfate market?
Answer: The global zinc sulfatemarket reached USD 631.5million in 2020.
- What are the major factors driving the growth of the global Zinc sulfate market?
Answer:The major factors driving the zinc sulfate market are an increase in zinc deficiency disorders across the globe, expansion in the agrochemical industry, and use of zinc sulfate for water treatment.
- Who are the key players in the global zinc sulfatemarket?
Answer: The key players in the global zinc sulfatemarket are Bohigh Zinc Product Co., Ltd., Changsha Newsky Chemical Co Ltd., Tianjin Xinxin Chemical Factory, Tianjin Topfert Agrochemical Co. Ltd., Hengyang Best-selling Chemical Industry Co Ltd., ISKY Chemicals Co Ltd., Changsha Haolin Chemicals Co. Ltd., Midsouth Chemical Company Inc., Changsha Latian Chemicals Co. Ltd, Rech (Rongqing) Chemical Co. Ltd, Tianjin Xinxin Chemical Factory, Zinc Nacional, Hemadri Chemicals, Tianjin TopfertAgrochemicial Co., P D NavkarBiochemPvt. Ltd., Old Bridge Chemical Inc., Vinipul Inorganics Private Limited, SulfozymeAgro India Pvt. Ltd., and others prominent players.
- Which typeaccounted for the largest sharein the global zinc sulfate market?
Answer:The Zinc sulfate monohydratetype accounted for the largest share in the global zinc sulfatemarket.
- Which application held the highest share in the global zinc sulfate market?
Answer: The agrochemical segmentheld the highest share in the global zinc sulfatemarket.
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