Inorganic Zinc Chemicals Market Forecast 2023 - 2030

By Form:

The form segment is categorized into powder and solution. In 2022, the powder segment held the highest share in the inorganic zinc chemicals market. The capability of powder based inorganic zinc chemicals is used to improve the functioning of more than 300 hormones and enzymes in animals. The increasing application of inorganic zinc for delivering important micronutrients to the animal feed industry is accelerating market growth. Moreover, the growing adoption of powdered zinc oxide in personal care & cosmetic products owing to the properties such as mild antiseptic effects, and UV absorption is driving the segment growth.

Moreover, the liquid segment is anticipated to register the fastest CAGR over the forecast period. Liquid inorganic zinc chemicals are extensively used in the paint, rubber, and plywood industries due to their high purity and excellent chemical composition. For instance, ARIHANT SOLVENTS AND CHEMICALS, headquartered in India, offers high-purity liquid zinc oxide that is used as an additive in the rubber and paint industry. Therefore, the above-mentioned factors are expected to propel the liquid segment.

By Types

The type segment is classified as zinc chloride, zinc oxide, zinc sulfate, zinc sulfide, and others. The zinc oxide segment held the highest share of 33.50% in the inorganic zinc chemicals market. The extensive use of zinc oxide (ZnO) as an additive in numerous products and materials including rubber, ceramics, and glass owing to the high heat capacity and conductivity is accelerating the market growth. In addition, the ability of zinc oxide to soothe skin and ease irritation is proliferating the demand for ZnO in the personal care & cosmetics segment. For instance, EverZinc, a manufacturer of zinc chemicals, offers Zano powders for skincare that delivers distinct UVA/UVB protection enabling SPF values up to 50+. Therefore, the above-mentioned factors are driving the market growth.

However, the zinc chloride segment is expected to register the fastest CAGR over the forecast period. The wide scope of application of zinc chloride as a corrosion inhibitor for cooling water treatment in various water facilities. In addition, the deployment of zinc chloride in water treatment industries to remove high concentrations of metals and acids is also anticipated to drive market growth.

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By Application :

The application segment is categorized into fertilizers, lubricants, dyes, ointments, wood preservatives, die casting alloys, coatings, chemical intermediates, API, and others. In 2022, the fertilizers segment held the highest share of the market. Inorganic zinc chemicals such as zinc sulfide and zinc oxide are widely deployed as additives for the production of fertilizers. The growing zinc deficiency that could lead to the loss of crop production and quality is accelerating the demand for inorganic zinc chemicals. For instance, as per the CABI (Centre for Agriculture and Bioscience International), crop yields of about 40% are lost to pests, climate damage, and insufficient nutrients. In addition, the rising advancements in the agricultural industry is another influencing factor that is driving the growth of the fertilizers segment.

However, the chemical intermediates segment is expected to witness the fastest CAGR in the inorganic zinc chemicals market during the forecast period. Inorganic zinc chemicals are used as chemical intermediates for the production of various products including paints & coatings, dyes, and lubricants. The growing demand zinc chemical-based products in various end-use industries such as building & construction and automotive is expected to create lucrative opportunities for the inorganic zinc chemicals market over the forecast period.

By End use Industry :

Based on end use industry, the market is divided into automotive, agriculture, paints & coatings, chemicals, rubber, pharmaceuticals, personal care & cosmetics, and others. In 2022, the agriculture segment accounted for the largest market share in the inorganic zinc chemical market. Zinc chemicals are widely used in organic farming practices including precision agriculture owing to their ability to enhance soil fertility. Moreover, the rising demand for sustainable agricultural practices is contributing significantly is increasing the demand for inorganic zinc chemicals that, in turn, promote market growth.

However, the chemicals segment is expected to witness the fastest CAGR during the forecast period in the market. The growth of the market is attributed to the ability of inorganic zinc chemicals to offer resistance against corrosion along with exhibiting catalytic properties. Additionally, the wide scope of applications including paints & coatings, dyes, lubricants, and wood preservatives, among others is also expected to fuel the market growth over the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2022, Asia Pacific accounted for the highest market share at 36.95% and was valued at USD 2,739.36 million, and is expected to reach USD 4,102.90 million in 2030. In Asia Pacific, China accounted for the highest market share of 38.05% during the base year of 2022. The rising demand for rubber goods from various end use industries such as automotive, and consumer goods are propelling the market growth in the region. Additionally, the growing agricultural practices in the region is accelerating the demand for inorganic zinc chemicals as fertilizers.

However, North America is expected to register the fastest CAGR of 6.1% in the market during the forecast period. The increasing demand for clean and safe water particularly in U.S. and Canada is expected to drive the demand for inorganic zinc chemicals. Moreover, inorganic zinc chemicals are used in the production of other industrial chemicals such as zinc borate, zinc octoate, and zinc stearate that are used in paints & coatings, and dyes. Thus, the growing chemical industry in the region is expected to drive the inorganic zinc chemicals market growth.