USD 9.06 Billion
Zinc Sulphate Market Size, Share, Growth Analysis, By Type(Zinc sulphate anhydrous, zinc sulphate hexahydrate, zinc sulphate monohydrate, and zinc sulphate heptahydrate), By Applications(Medicine, Agrochemicals, chemical, Transportation), By End -User(Healthcare, Agriculture, Chemical, Synthetic Textile), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2439 |
Region:
Global |
Published Date: May, 2024
Pages:
157
|Tables:
95
|Figures:
72
Zinc Sulphate Market Insights
Global Zinc Sulfate Market size was valued at USD 9.06 Billion in 2022 and is poised to grow from USD 9.83 Billion in 2023 to USD 18.88 Billion by 2031, growing at a CAGR of 8.5% during the forecast period (2024-2031).
The global zinc sulfate market is driven by numerous market dynamics that impact its growth trend. Several factors contribute to the growth of this market, including demand-supply dynamics, macroeconomic factors, technological advancements, regulatory framework, changing consumer preferences. The demand for zinc sulfate is mainly driven by its high consumption in various industries as agricultural, pharmaceutical etc. In agriculture, zinc sulphate is widely used as a micronutrient to overcome zinc deficiency in soil, thus improving crop yield and performance increases. Moreover, the expanding pharmaceutical industry, especially in developing regions, is expected to boost the demand for zinc sulphate through the manufacture of various chemicals such as pharmaceuticals and nutritional supplements etc.
Volatility of raw material prices, environmental concerns associated with zinc sulphate production, and stringent usage regulations are some of the factors that could hamper the growth of the market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Zinc Sulfate Monohydrate
Fastest Growth
Zinc Sulfate Anhydrous
Growth Rate
8.5% CAGR
Global Zinc Sulfate Market ($ Bn)
Country Share for North America Region (%)
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Zinc Sulphate Market Segmental Analysis
Based on type, the zinc sulfate market is segmented into zinc sulfate anhydrous, zinc sulfate monohydrate, zinc sulfate hexahydrate, and zinc sulfate heptahydrate. Based on application, the zinc sulfate market is segmented into medicine, agrochemicals, chemical, transportation, water treatment, and synthetic fibers. Based on end-user industry, the zinc sulfate market is segmented into healthcare, agriculture, chemical, and synthetic textile. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Zinc sulfate monohydrate contains one water molecule per zinc sulfate molecule. In agriculture, this method is often used as a micronutrient application to overcome zinc deficiency in soil, thereby promoting plant growth and increasing crop yields. Due to its therapeutic properties, it is used in medicine and various pharmaceuticals. Overall, while zinc sulfate monohydrate continues to dominate some applications, zinc sulfate anhydrous segment experiences growth opportunities, driven by evolving industry needs and technological innovations.
Zinc sulfate anhydrous is the fastest growing segment in the market. Zinc sulfate anhydrous is a form of zinc sulfate that does not contain any water molecules. They are often desirable in areas where moisture content is an important factor, such as in certain industrial applications and chemical processes. This zinc sulfate is valued for its durability and ease of use, making it suitable for applications that require precise water management. The zinc sulfate anhydrous segment sees growth, driven by increasing demand from industries such as pharmaceuticals, pharmaceuticals and manufacturing.
Analysis by Application
The agrochemicals phase, mainly the use of zinc sulfate as a micronutrient fertilizer in agriculture, has been traditionally dominant because of the crucial position of zinc in plant nutrition and soil fertility. Zinc sulfate is extensively used to accurate zinc deficiencies in soils, enhance crop yields, and improve the high-quality of agricultural produce. The agrochemicals segment continues to grow, driven by factors such as global population growth, expanding agricultural activities and the adoption of modern agricultural practices.
The medicine segment keeps growing, driven by way of elements along with growing healthcare expenditure, growing focus of the importance of zinc supplementation for fitness preservation, and the improvement of new formulations and shipping systems. The medicine sector, especially pharmaceutical applications of zinc sulfate is historically important due to its established role in various pharmaceutical compounds and nutritional supplements. Zinc sulfate is widely used in pharmaceuticals for the treatment of health conditions like colds, flu, and dermatitis.
Global Zinc Sulfate Market By Type (%)
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Zinc Sulphate Market Regional Insights
North America region in the global zinc sulfate market dominated this market by 2022. The highest zinc-rich food in any diet is oysters, but because of the widespread consumption of beef, it accounts for 20% of Americans’ daily zinc intake. Zinc is a key ingredient in American breakfast cereals. Enriched and fortified foods provide between 12.1% and 18.4% of the daily zinc intake for children and adolescents in the United States, accelerating market expansion in terms of revenue and then gaining market share.
Asia Pacific led the global zinc sulphate market owing to the prevalent zinc deficient population. Furthermore, the increasing demand for zinc sulfate will fuel the growth of global zinc sulfate market in the region during the forecast period. The market in Asia Pacific is poised for significant growth, driven by increasing demand for fertilizers. Zinc sulphate has a large application in Asia due to its role in agriculture, animal feed and industry.
Global Zinc Sulfate Market By Geography
- Largest
- Fastest
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Zinc Sulphate Market Dynamics
Drivers
Growing Demand for Agricultural Products
- One of the major drivers of the global zinc sulfate market is the growing demand from the agricultural sector. Zinc sulfate acts as an important micronutrient, which is necessary to prevent zinc deficiency in soil. These deficiencies often lead to lower yields and poor harvests. As a result, farmers are increasingly adopting crops fortified with zinc sulfate to improve soil health and improve plant nutrition. Moreover, increasing awareness among agricultural stakeholders on the important role of micronutrients in improving yields further increases the demand for zinc sulphate fertilizers and hence the agricultural sector is a key driver of market growth.
Expanding Applications in Pharmaceutical Industry
- Another major factor driving the global zinc sulfate market is the expansion in the pharmaceutical industry. Zinc sulfate is used in medicine for its healing properties, which include antibacterial and wound healing properties. Furthermore, the demand for zinc sulfate-based pharmaceuticals is increasing due to various health conditions such as colds, flu and dermatitis, and the rapid expansion of the pharmaceutical industry, especially in emerging economies. As pharmaceutical manufacturers introduce new formulations and new developments including zinc sulfate, the market is poised for continued growth.
Restraints
Ever Increasing Price of Raw Material
Strict Environmental Regulations
- Another notable mandate that the global zinc sulfate market faces is stringent environmental regulations governing its manufacture and use. Zinc mining and processing are environmental considerations such as soil pollution, water pollution, air pollution, leading regulators to enforce these laws with stringent standards and guidelines compliance. As a result, compliance and environmental sustainability emerge as a priority operating in global zinc sulfate market, leading to market growth.
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Zinc Sulphate Market Competitive Landscape
One example of a strategic partnership in the global zinc sulfate market is the collaboration between Mosaic Company and Evergrow. Mosaic, a manufacturer and marketer of phosphate and potash fertilizers, has partnered with a specialty fertilizer company. Evergro to enhance its supply chain with zinc sulphate-based fertilizers aimed at will meet the growing demand for high-micronutrient agricultural products in this mosaic-based partnership with Evergrove expertise in construction. Mosaic and Evergro joined forces to provide farmers with innovative solutions to effectively manage zinc deficiencies in soil, thereby improving crop yields and quality.
Top Player’s Company Profiles
- Midsouth Chemical
- Changsha Haolin Chemicals Co. Ltd
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Colakoglu
-
Zinc Nacional
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Ravi Chem Industries
-
Balaji Industries
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Tianjin Topfert Agrochemcial
-
Old Bridge Chemicals
-
Bohigh Group
-
Hebei Yuanda Group
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Rech Chemical
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Newsky
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Best-selling Chemical
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Haolin Chemicals
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DaHua Chemical
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Lantian Chemical
Recent Developments
-
On August 19, 2022, the Critical Care division of Piramal Pharma, a manufacturer of complex medical devices, introduced injectable zinc sulfate as product of the first generic drug manufacturer in the United States region.
-
ICIS Chemical Business Magazine’s annual Top 100 Chemical Distributors for 2023 ranked Redox as the largest distributor in Australia, 12th in APAC and 34th globally.
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In September 2022, Redox received the FAMI-QS certification from DNV Business Assurance Australia Pty Limited.
Zinc Sulphate Key Market Trends
-
Rising Adoption of Zinc Sulfate in Animal Feed Additives: The global zinc sulfate market is witnessing a major trend of increasing adoption of animal feed additives. Zinc is an essential micronutrient for animal health and growth, playing an important role in various physiological functions such as immune support, enzyme metabolism and protein synthesis. Consequently, animal farmers and feed manufacturers are increasingly acknowledging the importance of animal feed supplementation and in appropriate amounts etc. compared to high bioavailability costs. In addition to matching efficacy, zinc sulphate offers a wide range of pharmaceutical applications, making it suitable for inclusion in various animal feeds, such as poultry, pork and aquaculture.
Zinc Sulphate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global zinc sulfate market is characterized by a complex growth trajectory driven by various factors. Major drivers include increasd demand from agriculture, including the use of zinc sulphate as a micronutrient to offset soil scarcity and increase crop yields contributing to market growth. Despite these constraints, the market caters to notable products such as animal feed additives which are gaining increasing adoption due to the need for animal feed health and productivity. Overall, globally zinc sulfate market exhibits strength in the face of ongoing industry developments, with innovations, strategic partnerships and growing support for sustainable agro-industrial practices.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.06 Billion |
| Market size value in 2031 | USD 18.88 Billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Zinc Sulphate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Zinc Sulphate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Zinc Sulphate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Zinc Sulphate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Zinc Sulphate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Zinc Sulphate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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