The global zinc sulphate market is expected to attain a valuation of USD 1.81 billion in 2023 and is projected to reach USD 3.5 billion by 2033, trailing a CAGR of 6.8 % during the forecast period.
Zinc sulphate plays a crucial role in the agricultural sector, primarily as a fertilizer additive to prevent and correct zinc deficiency in crops. It is widely used in granular fertilizers due to its high solubility in water and cost-effectiveness. As the demand for fertilizer additives continues to rise, the consumption of zinc sulphate is expected to increase in the forecast period.
The global agricultural industry is experiencing substantial growth, driven by the increasing demand for food in densely populated countries like India and China. This growth in agricultural activities leads to high usage of fertilizers, insecticides, and pesticides. Consequently, the expansion of the agricultural industry is expected to fuel market growth further in the forecast period.
An emerging trend in the market is the rising demand for zinc sulphate in the textile industry. Zinc sulphate is utilized in fabric manufacturing and is added to various chemicals to achieve different textile shades. Additionally, it serves as a precursor to the lithopone pigment used in textiles. Hence, the growth of the global textile industry might contribute to the increased utilization of zinc sulphate in the forecast period.
Zinc sulphate is employed in the production of synthetic fibers and serves as a raw material in the synthetic fiber industry for manufacturing fiber and textile materials. Thus, the growing demand for synthetic fibers in the textile sector is expected to drive the market growth of zinc sulphate in the forecast period.
The expanding production of medicines for zinc deficiency is anticipated to positively impact the sales of zinc sulphate in the upcoming years. Moreover, the increasing consumption of zinc sulphate in the production of rayon fibers is expected to boost the demand for this chemical.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 1.81 billion |
| Anticipated Forecast Value (2033) | USD 3.5 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 6.8% |
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The zinc sulphate market was worth USD 1.4 billion in 2018. It accumulated a market value of USD 1.7 billion in 2022 while expanding at a CAGR of 5% during the historical period.
Zinc sulphate has applications in the agriculture segment to treat plants and crops from zinc deficiency which can lead to poor plant development and reduced productivity. The sales of zinc sulphate are anticipated to expand at a 6.8% CAGR over the forecast period between 2023 and 2033. A significant production volume of such medicinal drugs and tablets to cure zinc deficiency is expected to propel sales in the forthcoming years.
Changing lifestyle and food habits are some of the key factors responsible for poor nutrition and have resulted in zinc deficiency. This is expected to boost demand for zinc sulphate in the pharmaceutical sector.
Increasing Sales of Zinc Sulphate Supplements in China might Augment Growth
The pharmaceutical industry is one of the leading industries in China. The pharmaceutical sector is mainly dominated by generic drugs and ingredients. Zinc sulphate is one of the key ingredients in the production of dietary supplements such as tablets.
The demand for zinc sulphate in the region is anticipated to expand with a CAGR of 6.9% during the forecast period. Moreover, a rising number of chronic diseases and health issues are propelling the demand for generic and OTC medications. Owing to these factors, the demand for extra supplements is increasing. Hence, the zinc sulphate market in China is expected to expand at a considerable pace over the assessment period.
Rising Demand for Fertilizers in India is Estimated to Increase Sales of Zinc Sulphate
India is expected to dominate Asia Pacific zinc sulphate market by accumulating over 28% of the regional market share by the end of the forecast period. The market in this region is expected to thrive at a significant CAGR of 7.2% during the forecast period.
Agriculture is the primary source of livelihood for about 58% of India’s population as cited by IBEF. Furthermore, increasing population, rising urban and increasing rural income are some of the key factors driving the agriculture industry in India. Demand for agricultural inputs, fertilizers, hybrid seeds, and allied services is expected to create opportunities for growth in the agriculture sector.
An increasing population necessitates the use of a high-yielding range of seeds and fertilizers. For the health and development of plants and crops, fertilizers and nutrients are equally important. Zinc sulphate and other micronutrients are used with NPK fertilizers to conserve the zinc content in the soil. This prevents zinc deficiency in plants and helps them to develop.
According to a study, a growing deficiency of zinc in Indian soil has made zinc the third most important nutrient for crop production. Hence, the consumption of zinc sulphate in fertilizers is increased, which is expected to continue driving sales of zinc sulphate in the forecast period.
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Adoption of Zinc Sulphate Monohydrate in Dietary Supplements to Remain High
Zinc sulphate monohydrate is widely used in the pharmaceutical sector for the manufacturing of medicines. The monohydrate form is sold commercially, and it is a stable hydrate form of zinc sulphate. The demand for monohydrate zinc sulphate is expected to remain prominent with a CAGR of 7.6% during the forecast period.
Zinc sulphate monohydrate is a salt of zinc and sulfuric acid, which is used in a variety of dietary supplements and to treat zinc deficiency in humans. Similarly, dietary supplements are also needed in animals to avoid zinc deficiency. Further, these supplements provide the nutrients to body and prevent diseases.
Zinc sulphate monohydrate is utilized in the rayon industry, where it is used in precipitating and coagulating baths. It prevents the crenulation of the fiber surface. These factors are expected to bolster the demand for the monohydrate form of zinc sulphate during the forecast period.
Demand for Zinc Sulphate Heptahydrate to Gain Traction
The demand for heptahydrate zinc sulphate is anticipated to remain stable at a CAGR of 7.1% during the forecast period. Zinc sulphate heptahydrate is an important ingredient in the manufacturing of zinc oxide nanoparticles. Zinc sulphate heptahydrate and ammonium hydroxide are starting materials for the synthesis of the zinc oxide nanoparticle.
Rayon production also utilizes zinc sulphate heptahydrate. It also has wide applications in calico printing, wood preservation, and the production of lithopone. It is also used in animal feed production, fertilizer, and agricultural sprays. In addition to this, it is utilized in zinc plating and surface treatments.
Various applications are involved in the consumption of zinc sulphate heptahydrate, which is expected to fuel the consumption in this segment in the forthcoming years.
Start-ups have a crucial role in recognizing growth prospects and driving industry expansion. Their proficiency in transforming inputs into outputs and adapting to market uncertainties is valuable. In the zinc sulphate market, several start-ups are engaged in manufacturing and providing related services.
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The market for zinc sulphate is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players operating in the market are 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, and Redox.
Recent Developments in the Zinc Sulphate Market
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 1.81 billion |
| Market Value in 2033 | USD 3.5 billion |
| Growth Rate | CAGR of 6.8% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By type, By application, By region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled | The United States of America, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, India, China, Japan, Malaysia, Singapore, Thailand, South Korea, Australia, New Zealand, South Africa, Israel |
| 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 |
| Customization | Available Upon Request |
The zinc sulphate market is valued at USD 1.8 billion in 2023.
The key players in the zinc sulphate market are Chemtrade, Hindustan Zinc, and Mepco.
The zinc sulphate monohydrate segment is likely to remain preferred through 2033.
Players opt for mergers and acquisitions in the Zinc Sulphate market.
India, China, and Japan dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Anhydrous 5.2. Hexahydrate 5.3. Monohydrate 5.4. Heptahydrate 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Agrochemical 6.2. Chemicals 6.3. Pharmaceuticals 6.4. Synthetic Fibers 6.5. Water Treatment 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Balaji Industries 17.2. Changhsa Haolin Chemicals Co., Ltd 17.3. Midsouth Chemicals 17.4. Gupta Agricare 17.5. China Bohigh 17.6. Old Bridge Chemical 17.7. Tianjin Topfert Agrochemical Co 17.8. Rongqing Chemical Co. Ltd 17.9. Clean Agro 17.10. Oasis Fine Chem 17.11. Saba Chemical GmbH 17.12. Redox 18. Assumptions & Acronyms Used 19. Research Methodology
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Zinc Sulphate Market
