Zinc Sulphate Market Assessment and Key Insights Analyzed till 2029
Hence, the growing agriculture industry is waving towards increasing utilization of agrochemicals that in turn is driving the global zinc sulphate market.
[ClickPress, Fri Aug 09 2019] Zinc sulphate is an inorganic compound that appears as white rhombic crystals/powder at the room temperature. Historically, this chemical was known as “white vitriol”. Zinc sulphate is made of zinc, sulphuric acid and water. Some of the properties of zinc sulphate include non-flammable, non-oxidizing and non-combustible. Zinc sulphate is widely used across a number of industries including agriculture, pharmaceuticals, water treatment, chemical and others. The global Zinc Sulphate Market is expected to foray ahead with a considerable CAGR over the forecast period of 2018-2028.
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Increasing estimates of zinc deficient disorders along with increasing demand from the agriculture sector are the major factors driving the global zinc sulphate market. In addition, rising chemical industry coupled with increasing application of zinc sulphate in the chemical industry are some of the secondary factors escalating the growth of global zinc sulphate market. However, low bioavailability along with side effects associated with the chemical are some of the parameters restraining the market growth over the forecast period.
Zinc deficiency leads to various adverse conditions that includes growth retardation, impaired immune function, loss of appetite and others. Hence, to curb the zinc deficient disorders, zinc sulphate is added in the food supplements and also in the medicines. According to a report by World Health Organization, globally zinc deficiency is responsible for 16% of the lower respiratory tract infections, 10% of diarrhoeal disease and 18% of malaria. Also, zinc deficiency leads to moderate number of deaths worldwide. Moreover, growth in agriculture industry and agrochemicals also tend to drive the zinc sulphate market growth. As per The World Bank, the global agriculture industry is projected to feed around 9.7 billion people by the end of 2050. Hence, the growing agriculture industry is waving towards increasing utilization of agrochemicals that in turn is driving the global zinc sulphate market.
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The global zinc sulphate market is segmented into six regions, including North America, Latin America, Europe, East Asia, South Asia & Oceania and MEA. Among the above mentioned regions, East Asia along with South Asia & Oceania are the top regions capturing wide market share in terms of volume in 2019. Prevalence of zinc deficient diseases and increasing population having zinc deficient disorders are some of the prime factors escalating the demand of zinc sulphate in these regions. Moreover, India is a country that is heavily dependent on agriculture and zinc sulphate is widely used across the agriculture sector in the agrochemicals. Furthermore, increasing population across Asian region and growing chemical industry are some of the regions rendering the regions high growths over the forecast period. Moreover, Middle East is also one of the region growing with considerable share in 2019 owing to high prevalence of zinc deficient disorders backed up by increasing population estimates.
Key players of Zinc sulphate Market
Prominent players in the global zinc sulphate market are Changsha Latian Chemicals Co., Ltd, Midsouth Chemical, Rech Chemical Co. Ltd, Alpha Chemicals, Tianjin Xinxin Chemical Factory, etc. The Zinc sulphate market consists of well-diversified global and regional players with global vendors ruling the market.
The research report presents a comprehensive assessment of the Zinc sulphate market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Zinc sulphate market report provides analysis and information, according to market segments such as type and industry.
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