H1 2023: In H1 2023, the Asia Pacific region was found as the largest consumer of Zinc Sulphate. However, In H1 2023, Zinc Sulphate prices exhibited a fluctuating market trend in this region. In the initial two months of 2023, Zinc Sulphate prices in the Indian domestic market experienced a bullish trend. Strong demand from downstream agrochemicals and other industries bolstered market fundamentals. Consequently, increased sales from these sectors propelled manufacturing activities, which remained robust. Limited cost support from upstream Sulphuric Acid was found. However, prices began declining in March 2023 as manufacturers had already restocked. Supply-side pressures escalated, resulting in a price reduction in India. Till May 2023, prices of Zinc Sulphate were low due to abundant supply in India's market. Limited support from low-cost Sulphuric Acid upstream and sluggish procurement from downstream industries affected pricing dynamics. Manufacturers reported increased stockpiles, impacting demand for Zinc Sulphate. Facing elevated supply-side pressures, manufacturers reduced offers for the agrochemical sector. In June 2023, Zinc Sulphate prices saw an upward trend in India, driven by heightened inquiries from downstream agrochemical industries. Throughout H1 2023 in the US market, Zinc Sulphate prices exhibited a fluctuating trend. Procurement of Zinc Sulphate from downstream agrochemical sector was hazy, that impacted the Zinc sulphate prices. Market growth of Zinc Sulphate faced pressure due to high interest rate and tight monetary conditions across US.
The global Zinc Sulphate market stood at approximately 2300 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.6% during the forecast period until 2032. Zinc sulphate, ZnSO4, is a crystalline compound containing zinc, sulphur, and oxygen ions. It serves as a versatile chemical in various industries, such as agriculture, pharmaceuticals, and water treatment. With its white colour, it dissolves readily in water, exhibiting solubility and stability, making it essential for diverse industrial applications.
Zinc sulphate is a highly versatile chemical, finding use in a wide range of industries including chemicals, agriculture, medicine, and more. To order to prevent and treat zinc deficiency in crops, zinc sulphate is a vital fertilizer ingredient in the agricultural industry. Its high-water solubility and affordability make it a popular ingredient in granular fertilizers. Zinc sulphate is commonly utilized in the management of skin-related ailments and zinc insufficiency in humans. Zinc sulphate is used in the textile industry to make fabrics. To give textiles a range of colours, it is combined with several other substances. Moreover, it serves as a precursor to lithopone, a pigment that is sought after in the textile sector. It can be used as a clarifier when making glue and an electrolyte for plating zinc. Zinc sulphate's anti-microbial and anti-bacterial properties make it a popular ingredient in cosmetic and personal care products. It functions as a cosmetic biocide, an astringent, and an oral hygiene product.
The primary driver of the market's expansion is the surging requirement for zinc sulphate within the agricultural sector. In order to improve crops lacking in zinc and to increase the nutrient value of the soil, it is also used as a fertilizer and in agricultural sprays. Zinc sulphate use is therefore expected to be driven by an increase in demand for fertilizer additions during the projection period. Fertilizer, insecticide, and pesticide demand in the agriculture sector is likely to rise in the coming years. Also, Zinc sulphate plays a crucial role in the manufacturing of medicines, addressing mineral deficiencies. The increasing utilization of zinc sulphate in medicine production is anticipated to drive the growth of the zinc sulphate market in the coming years. Over the course of the anticipated term, the global Water treatment industry's expansion will be closely associated with the increasing use of zinc sulphate. The global Zinc Sulphate market is anticipated to reach nearly 3600 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Zinc Sulphate. The Zinc Sulphate market in the Asia Pacific region is poised for significant growth, propelled by the escalating demand for fertilizers. India's high population density and high level of agricultural activity are expected to support the region's continued dominance of the market over the projection period. Zinc sulfate sees significant use in Asia due to its roles in agriculture, animal feed, and industry. In agriculture, it corrects zinc deficiencies in crops, vital in regions like Asia with extensive agricultural sectors. Its application as a nutritional supplement in animal feed, crucial for livestock growth, aligns with Asia's substantial livestock industry. Furthermore, zinc sulfate's diverse industrial applications, ranging from water treatment to mining, contribute to higher consumption in Asia, especially if certain industries heavily rely on it. As Asia experiences population and economic growth, the demand for products utilizing zinc sulfate in manufacturing processes is likely to rise, driven by rapid industrialization and urbanization.
Based on the end-user industry, the global Zinc Sulphate market is divided into Fertilizer, Pharmaceutical, Water Treatment, Textile Industry, and Others. However, Fertilizer industry is the major segment and held approximately 34% of the global Zinc Sulphate market in 2022.
Major players in the Global Zinc Sulphate market are Gupta Agri Care, China Bohigh, Tianjin Topfert Agrochemicial Co., Ravi Chem Industries, Alpha Chemicals, Rech Chemical Co. Ltd, Midsouth Chemical, Sulfozyme Agro India Pvt. Ltd., Changsha Haolin Chemicals Co., Ltd, Old Bridge Chemical, Inc., Balaji Industries, and Zinc Nacional.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Zinc Sulphate which covers production, demand and supply of Zinc Sulphate market in the globe.
• To analyse and forecast the market size of Zinc Sulphate
• To classify and forecast Global Zinc Sulphate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Zinc Sulphate market in the globe.
To extract data for Global Zinc Sulphate market, primary research surveys were conducted with Zinc Sulphate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Zinc Sulphate market over the coming years.
ChemAnalyst calculated Zinc Sulphate demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Zinc Sulphate. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Zinc Sulphate manufacturers and other stakeholders
• Organizations, forums and alliances related to Zinc Sulphate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Zinc Sulphate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Zinc Sulphate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
2300 thousand tonnes
Market size Volume in 2032
3600 thousand tonnes
Growth Rate
CAGR of 4.6% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Fertilizer, Pharmaceutical, Water treatment, Textile Industry, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Zinc Sulphate market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Zinc Sulphate.
3. Capacity By Location
To better understand the regional supply of Zinc Sulphate by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Zinc Sulphate by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Fertilizer, Pharmaceutical, Water treatment, Textile Industry, and Others) are creating a market and the forecast for the growth of the Zinc Sulphate market.
7. Demand by Region
Analyzing the change in demand of Zinc Sulphate in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Zinc Sulphate. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Zinc Sulphate.
10. Company Share
Figure out what proportion of the market share of Zinc Sulphate is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Zinc Sulphate.
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What was the net market size of Zinc Sulphate in terms of volume in 2022?
Ans:
The global market size of Zinc Sulphate had reached approximately 2300 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Zinc Sulphate?
Ans:
Asia Pacific region is the leading consumer of Zinc Sulphate globally.
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