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Zinc chemicals market size is slated to expand at a notable CAGR between 2021 and 2027. A strong product demand across agriculture, personal care, and pharmaceutical sectors is among the key factors driving the industry expansion. Other end-users such as textiles and paints & coatings are also anticipated to generate a substantial demand for zinc chemicals in the forthcoming years. The market encompasses zinc chloride, zinc oxide, zinc carbonate, zinc sulfate, and others. The prominent use of these substances in a range of industrial and household products is augmenting the growth of zinc chemicals industry.
Zinc chloride mainly finds application in healthcare and pharmaceutical sectors, often in medications to treat zinc deficiencies. Zinc sulfate is also commonly used to treat and prevent the deficiency of zinc. Zinc oxide is utilized in cosmetics and personal care products such as bath soaps, baby lotions, nail products, ointments, and sunscreens. Zinc carbonate finds use in treatments for skin problems.
It is estimated that the zinc chemicals market will witness a substantial demand from the paints & coatings sector through 2027. The demand for high-performance functional paint and coating formulations across automotive, building & infrastructure, and other industries is increasing steadily. Rapid urbanization and robust industrial development are fueling building & construction activities, particularly in emerging economies. Meanwhile, automotive sales are growing due to the increased disposable income levels of consumers. A robust demand for paints and coatings across automotive, construction, and other end-users will create a strong growth outlook for the industry.
In terms of the regional landscape, the North America zinc chemicals industry share is expected to grow substantially over the forecast period. The presence of numerous leading bulk and specialty chemicals manufacturers is a pivotal factor driving the regional market. The ongoing investments in the pharmaceutical sector, the growing consumption of paints and coatings, and the intensifying consumer demand for premium quality cosmetics and personal care products will augment the regional product consumption.
U.S. Zinc, GHC (acquired by EverZinc), Akrochem Corporation, American Chemet Corporation, Brüggemann Gruppe, Rubamin, Hakusui Tech Co, Ltd., and Weifang Longda are among the leading manufacturers and suppliers of zinc chemicals. In anticipation of an increasing product demand across different sectors, the market players are expected to ramp up production capacities or set up new manufacturing units. Many manufacturers and suppliers are also taking approaches such as acquisitions, mergers, and strategic alliances to expand their product offering and bolster their market position.
COVID-19 pandemic and its impact on zinc chemicals market forecast
Developments in the zinc chemicals industry have slowed down slightly since the outbreak of the COVID-19 pandemic, as the product demand experienced a significant decline across numerous applications. The temporary suspension of manufacturing activities across key end-users including textiles, paints & coatings, and personal care have led to a weakened demand for zinc chemicals. Additionally, the manufacturers and suppliers were facing numerous challenges due to supply chain uncertainty, unavailability or limited supply of raw materials, and the shortage of workforce.