Inorganic Zinc Chemicals Market Size, Share, Growth, and Industry Analysis, By Type (Zinc Oxide, Zinc Sulfate, Zinc Chloride, Zinc Borate, Others), By Application (Agriculture and Animal Husbandry, Food and pharmaceutical, Rubber or Tires, Ceramic or Glass, Chemical) Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

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The global inorganic zinc chemicals market size was USD 4527.6 million in 2022. As per our research, the market is projected to touch USD 5159 million by the end of 2028, exhibiting a CAGR of 2.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels.

The inorganic zinc chemicals market encompasses a diverse range of zinc-based compounds with applications spanning corrosion protection coatings, agriculture, rubber manufacturing, ceramics, and more. These chemicals are vital for inhibiting corrosion in steel structures, acting as essential ingredients in agricultural fertilizers, and enhancing product quality in rubber and ceramics industries. With a global landscape influenced by industrial growth, infrastructure development, and environmental regulations, key players like US Zinc and EverZinc are significant contributors. As industries emphasize sustainability and performance, the market is poised for expansion, despite challenges such as raw material price volatility and regulatory compliance.

COVID 19 Impact: Profound Adverse Effects of the COVID-19 Pandemic on the Market

The COVID-19 pandemic adversely affected the inorganic zinc chemicals market in several ways. Supply chain disruptions, reduced industrial activity, and an economic downturn led to decreased demand and production delays. Global uncertainty and changes in consumer behavior further compounded the challenges faced by the industry. However, as economies recover and infrastructure projects regain momentum, the market is expected to rebound. The importance of inorganic zinc chemicals in corrosion protection and various industries remains significant, and as industries adapt to the new normal, the demand for these chemicals is likely to stabilize and eventually grow, albeit with ongoing vigilance in supply chain management and market dynamics.

LATEST TRENDS

"Pioneering Sustainable Coating Solutions to Mitigate Environmental Impact"

A significant trend currently shaping the inorganic zinc chemicals market is the development and adoption of sustainable coating solutions engineered to reduce their environmental footprint. This trend is driven by a collective global focus on environmental responsibility and heightened awareness of eco-friendly practices. Companies are formulating inorganic zinc-rich coatings with an emphasis on high performance while minimizing volatile organic compounds (VOCs) and hazardous emissions during application and product lifecycle. Waterborne formulations, life cycle assessments (LCAs), recyclability efforts, and the integration of bio-based materials are central to this movement, aligning with stringent environmental regulations and the growing demand for eco-conscious corrosion protection solutions.

SEGMENTATION

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• By Type

Based on the type of inorganic zinc chemicals market is classified as zinc oxide, zinc sulfate, zinc chloride, zinc borate, and others.

• By Application

Based on application the inorganic zinc chemicals market is classified as agriculture and animal husbandry, food and pharmaceutical, rubber or tires, ceramic or glass, chemical

DRIVING FACTORS

"Robust Demand for Corrosion Protection Solutions in Critical Industries Propelling Market Growth"

A primary driving force in the inorganic zinc chemicals market is the substantial demand for corrosion protection solutions. Numerous industries, including construction, marine, automotive, and oil and gas, rely on effective anti-corrosive coatings to preserve the longevity and integrity of their assets and infrastructure. Inorganic zinc chemicals are highly sought-after for their exceptional anti-corrosive properties, making them integral to coatings that shield critical equipment and structures from degradation and costly damage. As these industries continue to prioritize corrosion prevention, the demand for inorganic zinc chemicals remains robust, propelling the inorganic zinc chemicals market growth.

"Accelerated Infrastructure Development Globally Boosting the Need for the Market"

Another significant driver is the rapid pace of infrastructure development occurring worldwide. Expansive projects encompassing bridges, pipelines, industrial facilities, and more are being initiated to meet the growing demands of urbanization and modernization. Inorganic zinc chemicals play a pivotal role in these endeavors, as they are essential components in coatings that adhere to stringent corrosion protection requirements. As infrastructure development accelerates across regions, the demand for durable and effective corrosion protection solutions using inorganic zinc chemicals continues to surge, further propelling the market's expansion.

RESTRAINING FACTOR

"Environmental and Regulatory Challenges Impacting Growth of the Market"

The inorganic zinc chemicals market faces a significant restraint stemming from environmental and regulatory challenges. Heightened environmental awareness and stringent regulations on the use of certain compounds and substances pose hurdles for the market's expansion. The environmental impact of inorganic zinc chemicals, particularly in terms of emissions, waste disposal, and potential health risks, has prompted regulatory bodies to impose stricter controls. Compliance with these regulations necessitates costly modifications in manufacturing processes and formulations, affecting production costs and overall market competitiveness. As sustainability and safety concerns persist, companies in the market must navigate this complex regulatory landscape to ensure continued growth and market relevance.

REGIONAL INSIGHT

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"Asia Pacific to Dominate the Market owing to demand for corrosion protection solutions"

The Asia Pacific region, with its rapid industrialization, extensive infrastructure development, and booming construction sector, plays a dominant role in the inorganic zinc chemicals market share. Countries such as China and India are at the forefront of this growth, driving substantial demand for corrosion protection solutions in various industries. As urbanization and industrial activities continue to surge in Asia Pacific, the need for inorganic zinc chemicals is expected to remain robust, positioning the region as a major contributor to market expansion.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of the Market"

Financial players can make a substantial impact on the expansion of the inorganic zinc chemicals market. Investment firms, including venture capital and private equity, can fund innovation and growth in the sector. Commercial banks can provide essential financing for manufacturers and distributors, enabling them to scale operations and meet increasing demand. Government grants and subsidies can promote research and development of sustainable inorganic zinc chemicals, aligning with stringent regulations. Impact investors contribute to eco-friendly practices, while insurance companies offer risk mitigation solutions. Trade finance institutions facilitate global trade, and corporate sustainability initiatives drive research into environmentally friendly alternatives. This collaborative effort fosters innovation and supports the industry's expansion.

List of Market Players Profiled

• US Zinc (U.S.)
• Zochem (Canada)
• Umicore (Belgium)
• Zinc Nacional (Mexico)
• ISKY (China)
• Xinxin Chemical (China)
• Bohigh (China)
• Zinc Oxide LLC (U.S.)
• Silox (Turkey)
• Hebei Yuanda (China)
• Hunan Jingshi (China)
• God Leaves (China)
• Rech Chemical (China)

REPORT COVERAGE

The inorganic zinc chemicals market is poised for growth and innovation, driven by the demand for effective corrosion protection solutions in critical industries worldwide. While environmental and regulatory challenges pose constraints, financial players, including investment firms, commercial banks, and impact investors, play a crucial role in supporting this expansion. Their investments, financing options, and sustainability initiatives fuel research and development efforts drive eco-friendly practices and facilitate international trade. As industries increasingly prioritize corrosion prevention and sustainable solutions, the collaboration between financial players and the inorganic zinc chemicals sector promises to enhance product offerings, promote environmental responsibility, and contribute to the market's sustained growth.