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Global Zinc Chloride Market was Valued at US$ 275 Mn in 2019 and it is Expected to Reach More than US$ XX Mn by 2028, Likely to Grow with the CAGR of 4.3% During the Forecast Period.
The proliferation in demand for zinc chloride is due to its fundamental properties and increasing demand from various end-user industries including chemical manufacturing and oil & gas among others. The benefits offered by the compound including low cost, mild toxicity, simple handling, and wide range acting as a catalyst will bode well on demand. It has a wide range of applications in industries including textile manufacturing, chemical production and metallurgical fluxes, which can also have a positive effect on demand. However, the availability of substitutes is anticipated to hinder the market growth.
The increasing demand for batteries in both industrial, as well as commercial sectors and application of zinc chloride in its production, is anticipated to grow simultaneously. The growing consumer demand for batteries is expected to correspond over the years to the demand for primary cells and dry cell batteries. The demand for highly active advanced batteries is expected to rise with advances in technology. Batteries of zinc chloride are called primary cell batteries and are also used in dry cells. With growing battery-grade zinc chloride consumption in industrial applications, the demand for zinc chloride is expected to grow substantially over the forecast period
As Per Grade Type, High Purity Segment To Witness The Fastest Growth In The Global Zinc Chloride Market
The global Zinc Chloride market on the basis of grade type segment is bifurcated into High Purity Grade, Battery Grade, Technical Grade, and Commercial Grade. The geography segment is analyzed into Asia-pacific, North America, Latin America, Europe, Middle East and Africa (MEA).
By Application, The Dry Cell Batteries Segment Leads To The Zinc Chloride Market Across The Globe
Based on application, the dry cell batteries segment is dominating and estimated to remain dominant, accounting for a share of more than 30% in the global zinc chloride market. The segment is set to register a CAGR of XX% during the forecast period. This is due to the technological advancements relating to the manufacturing of dry cell batteries.
In contrast, the catalyst segment is expected to grow at the fastest rate. This is due to the increasing adoption of catalysts in various end-use verticals including chemical and pharmaceuticals among others. Thus bolstering the demand of the zinc chloride market.
By End-Use, the Chemical Segment Dominates and Expected To Remain Dominant In the Global Zinc Chloride Market
Based on end-use, the market is bifurcated into Electronics, Chemical, Agriculture, Pharmaceutical, and Others. The global zinc chloride market is dominated by the chemical segment. This is due to the rising chemical manufacturing activities across the globe coupled with increasing consumption for the manufacturing of various chemicals including zinc bacitracin, and methylene chloride among others.
In contrast, increasing the adoption of zinc chloride in the pharmaceutical segment, as zinc plays a vital role in maintaining the immunity system of humans, treatment of ulcers and pododermatitis. The pharmaceutical segment is expected to witness modest growth during the forecast period. Agriculture and electronic industries are also anticipated to gain high traction over the forecast period.
Asia Pacific Region to Dominate the Overall Zinc Chloride Market In Terms of Revenue Share
Asia Pacific region dominates the zinc chloride market. Owing to the presence of a large number of manufacturers in countries such as China and India among others and a large number of exports from the region support the market growth. The market is expected to register a CAGR of XX% during the forecast period.
North America accounts for more than 20% of the revenue share of the global zinc chloride market. This is due to the rising investments in research and development activities for the application of zinc chloride in the region. The U.S. holds the major share in the North America region and accounts for over 70% of the market.
American Elements, Eurocontal SA, Global Chemicals Co., Ltd, Flaurea Chemicals TIB Chemicals AG, Vijaychem Industries, Apex Chemicals Corporation, Zalcon LLC and Weifang Dongfangsheng Chemical Co., Ltd. among others.
Segmentation of Global Zinc Chloride Market
Zinc Chloride Market by Grade Type
- High Purity Grade
- Battery Grade
- Technical Grade
- Commercial Grade
Zinc Chloride Market by Application
- Dry Cell Batteries
- Water Treatment
Zinc Chloride Market by End-use
Zinc Chloride Market by Region
- North America
- South America
- Middle East & Africa