The global zinc sulphate market is anticipated to attain a valuation of US$ 1.81 billion in 2023 and is expected to reach US$ 3.5 billion by 2033, trailing a CAGR of 6.8 % during the forecast period.
Zinc is widely utilized in the agrochemical industry to address zinc deficiencies in crops and enhance animal feed for improved health conditions. The growing demand for agricultural products has spurred the expansion of the agrochemical sector, creating opportunities for market expansion. The demand for zinc sulfate is expected to be driven by various factors such as:
- The rising prevalence of zinc deficiency globally.
- Its acceptance in pharmaceutical applications such as dietary supplements, parenteral nutrition, oral rehydration products, and nutraceuticals.
- The incidence of gastroenterological diseases.
The utilization of zinc sulfate in industrial chemicals, agrochemicals, and other key applications like corrosion inhibitors in water-treatment systems, flotation agents in the mining sector, and the production of detergents and cosmetics further contributes to its production growth.
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Zinc (Zn) deficiency affects agricultural soils and poses a significant problem for women and children in developing countries. Insufficient intake of zinc-rich foods, particularly cereal grains, contributes to this deficiency. Moreover, with a growing global population, there is an increased need for sufficient and nutritionally balanced food. This drives the requirement for adding essential nutrients like zinc to food crops through fertilizers.
According to the World Health Organization, zinc deficiency is linked to low respiratory tract infections, diarrheal diseases, and malaria, leading to a significant number of deaths. Consequently, the demand for zinc sulfate tablets is expected to rise in response to the increasing prevalence of zinc (Zn) deficiency.
The market is projected to experience growth due to the rising demand for zinc sulfate in the chemical industry. Its applications as a mordant, electrolyte, coagulant, and contribute to this increasing demand.
Key Takeaways
- The market in India is projected to expand with a CAGR of 7.2% during the forecast period.
- The demand for zinc sulphate in China is expected capture a significant CAGR of 6.9% during the forecast period.
- By type, zinc sulphate monohydrate segment is expected to lead the market with a CAGR of 7.6% during the forecast period.
- India is projected to account for over 28% Asia Pacific zinc sulphate market by 2033.
Wide use of zinc sulphate in the agrochemical industry to compensate for the deficiency of zinc in crops is expected to drive market growth over the forecast period-comments – Said by FMI Analyst
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Competitive Landscape
The market for zinc sulphate is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
Key Innovations in the Zinc Sulphate Market
- On August 19, 2022, Piramal Pharma’s Critical Care division, a key provider of complex hospital generics, launched Zinc Sulfate Injection as the first generic product of its kind in the United States market.
- In September 2022, Redox obtained FAMI-QS certification from DNV Business Assurance Australia Pty Limited.
- The ICIS Chemical Business Magazine’s annual Top 100 Chemical Distributors for 2023 has ranked Redox as the leading distributor in Australia, 12th in APAC, and 34th globally.
Key Companies Profiled
- Balaji Industries
- Changsha Haolin Chemicals Co., Ltd
- Midsouth Chemicals
- Gupta Agricare
- China Bohigh
- Old Bridge Chemical
- Tianjin Topfert Agrochemical Co
- Rongqing Chemical Co. Ltd
- Clean Agro
- Oasis Fine Chem
- Saba Chemical GmbH
- Redox
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Key Segmentation of the Zinc Sulphate Market
By Type:
- Anhydrous
- Hexahydrate
- Monohydrate
- Heptahydrate
By Application:
- Agrochemical
- Chemicals
- Pharmaceuticals
- Synthetic Fibers
- Water Treatment
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
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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