The global Zinc Chloride Market size is projected to reach USD 309.6 million by 2023. The market is set to expand at a CAGR of 5.0% during the forecast period 2023 to 2033. It is anticipated to reach a size of USD 505.6 million by the end of 2033.
Growth of several sectors such as chemicals, pharmaceuticals, and agriculture is set to contribute to increased demand for zinc chloride. These sectors rely heavily on zinc chloride for its diverse applications in manufacturing processes and product formulations.
Expanding population and rising disposable income levels in emerging economies are propelling demand for consumer goods & infrastructure development. Zinc chloride plays a crucial role in the production of batteries, textiles, rubber, and plastics, which are essential components of multiple consumer products and construction materials.
Increasing focus on sustainable energy sources and environmental regulations has led to a surging demand for renewable energy technologies. Zinc chloride is utilized in the manufacturing of solar cells and other energy storage devices, making it a vital component in the renewable energy sector.
Agriculture sector is experiencing a shift toward sustainable and efficient farming practices to meet the growing food demand. Zinc chloride is widely used as a micronutrient in fertilizers, aiding in healthy growth of plants and improving crop yields. As agricultural activities expand to meet the global food requirements, demand for zinc chloride is expected to rise accordingly.
Ongoing research and development efforts to discover new applications for zinc chloride are likely to contribute to its increased demand. Scientists and engineers are constantly exploring innovative ways to utilize zinc chloride in various fields such as medicine, electronics, and water treatment. These advancements are anticipated to create new market opportunities and propel demand for zinc chloride worldwide.
Growing awareness and adoption of zinc-based products in the healthcare and personal care sectors is further set to aid demand. Zinc chloride is widely used in the formulation of medicines, ointments, lotions, and cosmetic products.
Its antimicrobial properties make it an effective ingredient in antiseptics, wound care products, and oral hygiene solutions. As demand for healthcare and personal care products continues to rise globally, zinc chloride sales as an essential component in these formulations is expected to follow suit.
A Few Key Trends Shaping the Global Market:
| Attribute | Key Insights |
|---|---|
| Zinc Chloride Market Estimated Size (2023E) | USD 309.6 million |
| Projected Market Valuation (2033F) | USD 505.6 million |
| Value-based CAGR (2023 to 2033) | 5.0% |
| Collective Value Share: Top 5 Countries (2023E) | 30 to 35% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global zinc chloride market witnessed a CAGR of 2.1% during the historical period from 2018 to 2022. In 2022, the market recovered with a strong 4.4% Y-o-Y growth rate due to surging usage of zinc chloride in EV applications. It is projected to expand at 5.0% CAGR from 2023 to 2033.
Zinc chloride is widely used as a catalyst, flux, and desiccant in various chemical reactions and manufacturing processes. As the chemicals sector expanded to meet the demands of various sectors such as pharmaceuticals, plastics, and rubber, demand for zinc chloride increased.
The electronics sector witnessed a rising demand for zinc chloride during the past 5 years. Zinc chloride is utilized in the production of batteries, especially zinc-carbon batteries, which are widely used in consumer electronics such as remote controls, flashlights, and toys.
As the electronics sector experienced rapid growth and advancements, zinc chloride demand as a battery component rose.
As per the India Brand Equity Foundation (IBEF), in 2021, the India appliances and consumer electronics sector had a market value of about USD 9.84 billion. However, it is projected to surge significantly and surpass USD 21.18 billion by the year 2025. Additionally, production of electronics hardware in India reached USD 63.39 billion in 2021.
The organization further stated that Godrej Appliances revealed its intention to invest USD 25.11 million in the expansion of its premium product line during the fiscal year 2023. Such innovations by leading consumer electronics firms in emerging nations might create new opportunities for zinc chloride vendors.
Global infrastructure development and construction boom witnessed in the past 5 years also augmented demand for zinc chloride. It is used in the production of galvanized steel, which is extensively utilized in construction, transportation, and infrastructure projects.
Rising urbanization, population growth, and investment in infrastructure worldwide resulted in a higher demand for zinc chloride as a corrosion-resistant coating for steel.
Increasing Utilization in the Cosmetics Sector
Zinc chloride has found extensive use in the cosmetics sector due to its beneficial properties and versatile applications. The chemical acts as an effective astringent and antiseptic, making it a valuable ingredient in skincare products.
It helps to tighten pores, reduce excess oil, and control acne breakouts. Zinc chloride's antimicrobial properties also aid in preventing skin infections and promoting healthy skin.
As per the American Academy of Dermatology (AAD), out of the total population of the United States, 84.5 million individuals sought medical assistance from a doctor for skin-related ailments in 2013. This converts into one in four Americans that sought treatment.
Among this group, 50% are aged 65 and above, and on average, they have 2.2 different skin conditions. Hence, increasing awareness about numerous skin diseases among millennials worldwide is set to support demand for products infused with zinc chloride.
Zinc chloride is also employed in the production of color cosmetics such as eyeliners, eyeshadows, and mascaras. It acts as a binding agent, enhancing the adhesion and longevity of pigments on the skin. Zinc chloride can further contribute to overall stability and texture of cosmetic formulations, ensuring smooth application and improved wear.
Zinc chloride is also incorporated into cosmetic formulations such as deodorants and antiperspirants. Its antimicrobial properties play a crucial role in inhibiting growth of odor-causing bacteria.
It helps in providing long-lasting freshness and protection against body odor. Zinc chloride's ability to control excessive sweating might also contribute to its use in antiperspirant products.
Growing Demand from Electric Vehicle (EV) Manufacturers
Zinc chloride is gaining immense popularity in the electric vehicle (EV) sector due to several compelling reasons. It is a key component in zinc-air batteries, which are known for their high energy density and long-lasting performance.
The batteries offer significant advantages in terms of energy storage capacity and extended range. Hence, these properties might make them a desirable choice for EV manufacturers and consumers alike.
Zinc chloride batteries are considered more environmentally friendly compared to conventional lithium-ion batteries. Zinc is abundant and widely available, reducing concerns regarding resource scarcity. Besides, zinc-air batteries produce no harmful emissions during operation, contributing to sustainability and reduced carbon footprint of EVs.
Cost-effectiveness of zinc chloride batteries is further driving their popularity in the EV sector.
Zinc is a relatively low-cost material compared to other battery components, which contributes to affordability of zinc chloride battery systems. This cost advantage aligns with the goal of making EVs more accessible and economically viable for a broader consumer base.
The International Energy Agency (IEA) mentioned that EVs are the only practical way to reduce 16% of global emissions that the transportation sector now accounts for.
In comparison to the previous year, EV sales experienced a significant surge in 2021, doubling to reach 6.6 million units sold, representing a market share of about 9%. As a result, total number of electric cars on the road reached 16.5 million, reflecting the growing adoption and impact of EVs in the automotive sector.
Principal Consultant
| Country | United States |
|---|---|
| Market Share (2023) | 79.4% |
| Market Share (2033) | 78.3% |
| BPS Analysis | -100 |
| Country | Germany |
|---|---|
| Market Share (2023) | 25.0% |
| Market Share (2033) | 25.2% |
| BPS Analysis | -30 |
| Country | China |
|---|---|
| Market Share (2023) | 64.2% |
| Market Share (2033) | 67.9% |
| BPS Analysis | 70 |
| Country | Japan |
|---|---|
| Market Share (2023) | 23.0% |
| Market Share (2033) | 20.9% |
| BPS Analysis | -40 |
| Country | India |
|---|---|
| Market Share (2023) | 42.9% |
| Market Share (2033) | 47.8% |
| BPS Analysis | 100 |
Government Support in India to Promote Clean Energy Would Push Demand for Zinc Chloride
India zinc chloride industry holds immense growth potential, thanks to the presence of key consumers across the country. Over the forecast period, it is projected that the market for zinc chloride in India will experience a steady CAGR of 7.4%, resulting in an absolute dollar opportunity of close to USD 25 million.
Increasing demand for zinc chloride can be attributed to growth of various sectors in India. The country’s chemical, pharmaceutical, and agriculture sectors heavily rely on zinc chloride for its diverse applications.
It is used as a catalyst, flux, and desiccant in chemical reactions, an essential micronutrient in fertilizers, and a key ingredient in medicines & ointments. As these sectors continue to expand to meet the growing domestic and global demands, need for zinc chloride is witnessing a notable surge.
The government's emphasis on renewable energy and sustainable practices has further fueled adoption of zinc chloride in India. The country is rapidly expanding its renewable energy capacity, with a particular focus on solar energy. Zinc chloride plays a vital role in the production of solar cells, which are used in solar panels to convert sunlight into electricity.
As the government promotes clean energy and provides incentives for renewable energy projects, zinc chloride demand in the solar energy sector might expand. Zinc chloride's use in energy storage devices such as batteries for renewable energy systems is also contributing to its increasing popularity in India's clean energy transition.
Demand for Zinc Chloride in China to Expand amid Needs from Pharmaceutical Firms
China is a prominent manufacturer, exporter, and consumer of several organic & inorganic chemical compounds, including zinc chloride. Demand for the chemical is driven by presence of various end-use sectors such as textiles, agriculture, pharmaceuticals, and electronics. Growth of these sectors is anticipated to fuel demand for zinc chloride across the country in the next ten years.
As per the Future Market Insights (FMI), China’s share in the global zinc chloride market is predicted to surge by 70 basis points. It is anticipated to create an absolute dollar opportunity of more than USD 40 million by the end of the forecast period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
High Purity Zinc Chloride to Exhibit Skyrocketing Demand through 2033
Based on grade, the high purity segment is anticipated to dominate the global zinc chloride industry. It is projected to expand at 4.9% CAGR from 2023 to 2033. It is estimated to create about USD 100 million of growth opportunity in the same time frame.
Growth of this segment is attributed to rapid utilization of the product in pharmaceutical and electronics sectors. The battery grade zinc chloride segment is also experiencing thriving demand from the EV sector. It is projected to account for the second-largest market share by the end of forecast period.
Zinc Chloride is Expected to be Extensively Used in the Chemicals Sector
During the forecast period, the chemical end-use sector segment is expected to witness significant growth. This presents a lucrative opportunity for key players to generate revenues of over USD 50 million throughout the evaluation period.
Demand for zinc chloride among chemical companies such as galvanizing and battery manufacturing firms has spiked significantly in recent years. It is attributed to better functional properties of zinc chloride in these applications.
The agriculture segment is also experiencing a moderate growth rate as manufacturers are increasingly looking for technologically advanced solutions for the sector.
The global zinc chloride industry is slightly consolidated with few players holding about half of the market share. These players have significantly larger production capacities than their competitors. This makes them a leading producer and exporter of zinc chloride across the globe.
Key market participants are adopting different strategies to maximize their revenues. One prominent strategy is to focus on reducing carbon emissions in order to align with sustainability goals. This approach allows key players to contribute to environmental preservation and enhance their reputation in the market.
In comparison, smaller players in the market are prioritizing increasing their production capacity to meet growing regional demand. At present, they are targeting export-driven markets to expand their sales footprint beyond regional markets. By tapping into new markets and establishing supply chain contracts with end users, small players can increase their market reach and sales opportunities.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 309.6 million |
| Projected Market Valuation (2033) | USD 505.6 million |
| Value-based CAGR (2023 to 2033) | 5.0% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD million) and Volume (tons) |
| Market Segments Covered | Grade, Form, End Use Sector, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Russia and Belarus; Balkan and Baltic Countries; Central Asia; East Asia; South Asia and Pacific; Middle East and Africa |
| Key Countries Covered | United States, Canada, Mexico, Argentina, Brazil, Germany, Italy, France, United Kingdom, Spain, Nordics, BENELUX, Poland, Hungary, Romania, Czech Republic, Russia, China, Japan, South Korea, India, Association of South East Asian Nations, Australia and New Zealand, Kingdom of Saudi Arabia, United Arab Emirates, Türkiye, Northern Africa, South Africa, Israel |
| Key Companies Profiled | Zaclon LLC; Costal Zinc Group; Jinzhou Jitian Zinc Industry Co., Ltd.; Weifang Dongfangsheng Chemical Co., Ltd.; Lipmes SA; HaloPolymer OJSC; Tianjin Nanping Chemical Co., Ltd.; TIB Chemicals; Flaurea Chemicals; Vap Industries; Haihang Industries; Haryana Chemical Industries; Pinkto Chemicals; Sigma Chemical Industries; Yanggu Zhongtian Zinc Industry Co., Ltd. |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
The market is valued at USD 309.6 million in 2023.
Zaclon LLC and Costal Zinc Group are the leading industry players.
The market held a CAGR of 2.1% from 2018 to 2022.
Rising demand from healthcare and personal care sectors to boost the growth.
The high purity segment is likely to remain preferred through 2033.
1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Key Success Factors
5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
6. Global Market - Pricing Analysis
7. Global Market Demand (in Value or Size in USD million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
8. Market Background
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Grade
9.1. High Purity Grade
9.2. Battery Grade
9.3. Technical Grade
9.4. Commercial Grade
10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Form
10.1. Powder
10.2. Liquid
11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End Use Sector
11.1. Electronics
11.2. Chemical
11.3. Agriculture
11.4. Pharmaceutical
11.5. Others
12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
12.1. North America
12.2. Latin America
12.3. East Asia
12.4. South Asia & Pacific
12.5. Western Europe
12.6. Eastern Europe
12.7. Central Asia
12.8. Russia & Belarus
12.9. Balkan & Baltic Countries
12.10. Middle East & Africa
13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
18. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
19. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
20. Russia and Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033
21. Balkan & Baltic Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033
22. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
23. Country-Wise Market Analysis
24. Market Structure Analysis
25. Competition Analysis
25.1. Zaclon LLC
25.2. Dongtai Coastal Zinc Industry Group Co., Ltd.
25.3. Haryana Chemical Industries
25.4. TIB Chemical AG
25.5. S.A. Lipmes
25.6. Pinkto Chemicals
25.7. Yanggu Zhongtian Zinc Industry Co., Ltd.
25.8. Halopolymer, OJSC
25.9. Flaurea Chemicals
25.10. Vap Industries
25.11. Weifang Dongfangsheng Chemical Co., Ltd.
25.12. Sigma Chemical Industries
25.13. Haihang Industry Co., Ltd.
26. Assumptions and Acronyms Used
27. Research Methodology
Explore Chemicals & Materials Insights
View Reports
Zinc Chloride Market
