The global zinc carbonate market is poised for significant growth, with an anticipated value of US$ 209.9 million in 2022 and a projected compound annual growth rate (CAGR) of 3.8% through 2032. This surge in sales is expected to propel the market to reach a substantial value of US$ 305.5 million by 2032. The robust CAGR reflects a promising trajectory for the zinc carbonate industry, driven by increasing demand across various applications and sectors, indicating sustained market expansion and economic opportunities over the next decade.
Zinc carbonate, abbreviated ZnCO3, is an inorganic compound. It is also known as smithsonite, calamine, or zinc spar. Zinc carbonate is a white crystalline solid or powder that is insoluble. It is used in various applications such as pharmaceuticals, cosmetics, and fertilizers. Depending upon its usage, it is available in different grades such as pharma & food and technical grade.
Zinc carbonate is extensively utilized by the pharmaceuticals & cosmetics industry across the globe owing to its anti-inflammatory properties. Majorly in cosmetics, it is used in lotions, creams, shampoos & other products. It is also used in feed additives to fight zinc deficiency.
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One of the most profitable markets for zinc carbonate is the rubber industry. Zinc carbonate is a commonly used raw material in the production of rubber. It is used to increase the translucency or transparency of natural rubber. It could also be used as a flame retardant by acting as a fireproofing filler in high-temperature rubber. Rising demand for rubbers from various end-use industries is expected to boost zinc carbonate market during the forecast period.
As per FMI, the global zinc carbonate market is expected to be dominated by East Asia, with total sales reaching US$ 97.2 Million by 2032.
“Zinc Carbonate sales are expected to be driven by its use in pharmaceuticals, drugs & medicines, and cosmetics across the globe, followed by rubber production and fertilizers.” says an FMI analyst.
Key Takeaways:
- The pharmaceuticals segment is projected to hold approximately 24% of the total market share in 2022.
- The cosmetics segment is anticipated to grow at a 4.2% CAGR through 2032.
- East Asia will emerge as an appealing zinc carbonate market, creating an incremental dollar opportunity of US$ 35.3 Mn during the forecast period.
- The fertilizer segment is expected to reach about US$ 25.6 Mn by end of the forecast period.
Competitive Landscape
Key players in the zinc carbonate market include Global Chemicals, Shepherd Chemical, Seido Chemical Industry, Bruggemann Chemical, Rubamin, Transpek-Silox, Yanggu Zhongtian Zinc Industrial, Ava Chemicals, Pan-Continental Chemical Co., Ltd, Strem Chemicals Inc., TIB Chemicals, Anron Chemicals Inc. and others.
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More Insights into the Global Zinc Carbonate Market Report
In its latest report, FMI offers an unbiased analysis of the global zinc carbonate market, providing historical data for the period 2017-2021 and forecast statistics for the period 2022-2032. To understand the global market potential, its growth, and scope, the market is segmented based on grade (pharma & food and technical), application (pharmaceuticals, cosmetics & personal care, feed additive, rubber production, fertilizers, oil & gas, chemicals, and others) & region ( North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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