Report Name: Global Zinc Chemicals Market Analysis and Forecast to 2022 | Growth Opportunity Assessment
Publisher: Research Cosmos
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Global Zinc Chemicals Market Overview:
The global zinc chemicals market is projected to reach USD 10.41 Billion by 2022, at a CAGR of 5.5% from 2017 to 2022. Zinc chemicals are inorganic compounds manufactured from two different processes such as direct (American), and indirect (French). Zinc oxide produced by the indirect process is pure than that through the direct process. These chemicals are derived from zinc metal. Zinc chemicals are used in rubber compounding, agriculture, paint & coatings, glass & ceramics, chemicals, textiles, and food & pharmaceuticals applications. The growth of these applications drives the zinc chemicals market, globally.
In 2016, the rubber compounding application segment accounted for the largest share of the global zinc chemicals market and is expected to continue to lead during the forecast period. With growing demand for plastics and rubber products in various applications in automobile, electronic gadgets, and footwear industries, the demand for zinc chemicals in rubber compounding segment is likely to increase significantly in the coming years.
Based on type, the zinc sulfate segment is projected to grow at the highest CAGR between 2017 and 2022. Zinc sulfate is used as a fertilizer additive for preventing zinc deficiency in crops. It is expected to be the fastest-growing type segment of the zinc chemicals market, in terms of value, during the forecast period due to its ability to treat a zinc deficiency in humans.
Growth in the agriculture and automotive industries has led to an increase in the demand for zinc chemicals. In 2016, Asia Pacific accounted for the largest share of the global zinc chemicals market. China is expected to account for the largest share of the Asia Pacific zinc chemicals market till 2022, whereas, this market in India is anticipated to grow at the highest CAGR during the forecast period.
Companies have adopted strategies such as agreements & contracts to enhance their existing customer base in the global zinc chemicals market. Key companies operating in this market focus on providing customized products and enhancing their presence in emerging markets. Zinc Oxide LLC (U.S.) signed an agreement with MICRO, SA DE CV (Mexico) to distribute its zinc-related products in Mexican, Central, and South American rubber compounding market. Zinc Oxide LLC aims to capitalize on the market knowledge and extensive experience to boost its revenues. Furthermore, Zinc Oxide LLC signed an agreement with Lintech International (US) to distribute its products for rubber compounding markets in the US. The company aims to increase its market reach through this agreement.
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