Zinc Chemical Market - Growth, Trends, and Forecast (2020 - 2025)

New York, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Zinc Chemical Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05989473/?utm_source=GNW
Zinc used in galvanizing other metals. The galvanization is a process of coating of a zinc metal on the surface of other metal. Zinc does not rust easily like iron and other metals. So, the zinc protects the other metals & iron from rust. Owing to the versatile and favorable chemical properties of Zinc Chemical, its application in the automotive, agriculture and construction industry is rising rapidly, consequently propelling the market growth.

However, the health hazard related to zinc chemicals like direct contact with eyes or skin may cause irritation, indigestion and respiratory tract infection if consumed or inhaled are likely to hinder the expansion of the studied market. Moreover, the unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.

The emerging research and technological advancement in the field of zinc nanoparticle employed for diagnosis, imaging, as well as treatment of cancer offer great opportunities for the zinc market over the next five years.

Asia-Pacific region dominates the market across the world with the escalating consumption of zinc chemical from countries, such as China, India and ASEAN Countries.

Key Market Trends
Rubber Processing Segment to Dominate the Market

- Rubber processing segment stands to be the dominating segment owing to large scale consumption of zinc chemical in galvanization and manufacturing tires.
- Zinc chemicals are widely used in the manufacturing of tires and tubes that are widely used in the automobiles, the growing automobile industry is expected to augment the overall demand for zinc chemicals in the near future.
- Growing popularity for electric vehicle is expected to drive the demand for automotive tires, thereby propelling the consumption of tires in the automotive industry which in turn drive the zinc chemical market.
- Since 2018, the automotive industry has been experiencing a decline in production in countries, like United States, China, and Germany, due to which the consumption of zinc chemical is expected to drop. However, from 2021, the automotive industry is expected to witness a recovery in production.
- Asia-Pacific countries like China, India, Japan, South Korea and Thailand are the major producer of automotibles; hence the requirement for zinc chemical market is projected to increase from this region in the forecast period.

Asia-Pacific Region to Dominate the Market

- Asia-Pacific region stands to be the dominating region owing to the vast and extensive application of zinc chemical derivatives in various applicationa including rubber processing, chemicals paints & coatings and agriculture among others.
- China exported 5.4 million metric ton of tires in 2018. Almost 40% of the passenger car tires (total of 2 million metric ton), were sold in the United States and European Union. Of the 3.4 million metric ton of truck and bus tires exported, nearly 25% were sold in those markets.
- In India, there are 40 tire manufacturers and around 6,000 non-tire manufacturers producing seals, conveyor belts, and extruded and moulded rubber profiles to be used in automotive, railway, defence, aerospace and other applications.
- Japan possesses one of the largest rubber industries in the world, with over 1.33 million ton of rubber material consumed in 2018 and witnessed a Y-o-Y growth of 3.1% over 2017. Japan is ranked third in the world, only behind China and the United States, in terms of total amount of rubber material consumed. The largest producers of tires in Japan, like Tosoh Corporation, Zeon Corp., and Toyo Tire & Rubber Co. Ltd, are undergoing capacity additions.
- Low cost and easy availability of chemical fertilizers act as key factors for the growth of the market. Zinc sulfate is used as a fertilizer additive in chemical fertilizers, thereby stimulating the zinc chemicals' market size.
- In China & India demand for the zinc chemical expected to increase due to the growing agrochemical industry & economic growth.Hence, all such market trends are expected to drive the demand for zinc chemical market in the region during the forecast period.

Competitive Landscape
The global zinc chemical market is fragmented with the presence of a few large-sized players and a large number of small players operating. Some of the major companies are U.S. Zinc., Pan-Continental Chemical Co., Ltd., EverZinc Canada (GHC), Boliden Group and L. Brügge­mann GmbH & Co. amongst others.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05989473/?utm_source=GNW

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