Zinc Chloride Market Pegged to Surpass US $426.4 Mn Valuation by End of 2018-2028
Future Market Insights has announced the addition of the "Zinc Chloride Market Pegged to Surpass US$ 426.4 Mn Valuation by End of 2018 - 2028" report to their offering
Valley Cottage, NY -- (SBWire) -- 02/25/2019 --Future Market Insights delivers key insights on the global zinc chloride market in its latest report titled 'Zinc Chloride market: Global Industry Analysis 2013-2017 and Opportunity Assessment, 2018-2028.' The long-term outlook of the global zinc chloride market remains positive and its market value is expected to increase at a CAGR of 4.6 % during the forecast period (2018 – 2028). On the basis of grade type, the global zinc chloride market is dominated by the high purity grade segment, which accounts for ~43.6% of the global zinc chloride demand. The segment is estimated register a moderate CAGR over the forecast period and the demand for the segment is mostly driven by the chemical industry. Battery grade zinc chloride is widely used in the manufacturing of dry cell batteries. Technical grade and commercial grade zinc chloride segments are projected to witness high acceptability and growth rates in the latter half of the forecast period as these grades are used in electronic and other industrial applications. Global sales of zinc chloride is valued at US$ 270.9 Mn by the end of 2018 – witnessing Y-o-Y growth of 4.6% over 2017. China accounts for a value share of ~21.9% of the global zinc chloride market in 2018 end and it is anticipated to register significant demand for zinc chloride from chemical and agriculture industries.
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Zinc chloride or ZnCl2 is a deliquescent salt, which is white in color and forms acidic solutions in polar organic solvents such as ether, acetone, water and ethanol. Zinc chloride is hygroscopic in nature and thus, must be kept away from water vapors and moisture sources. By adding zinc chloride and acetone, a neutral solution of zinc chloride is prepared.
Increasing demand for zinc chloride from chemical and textile industries can be attributed to the growth in usage in these industries. Other than this, zinc chloride also finds a number of other applications in various end-use industries such as in galvanizing, tinning of fluxes and soldering. It can also be used as an odor controller, due to which its demand is increasing in the market. The reaction of sulfide with zinc chloride minimizes the release of H2S gas in waste water treatment facilities, thereby aiding in odor control. Zinc chloride is used in the rubber industry for the vulcanization of rubber. That apart, dissolution of cellulosic fibers in scrap is done with the help of zinc chloride. Zinc chloride is also used for various other applications such as textile finishing, liquid fertilizers, organic synthesis, dry cell batteries and wood preservatives, among others.
However, the global zinc chloride market is projected to face numerous challenges as zinc chloride is toxic in nature and can cause skin & eye burns. Zinc chloride and water, on contact with eyes, can cause permanent damage. Such factors are further expected to hamper the growth of the zinc chloride market.
One of the recent trends observed in the global zinc chloride market includes the use of zinc chloride as a catalyst in the automotive industry.
On the basis of grade type, the high purity grade segment is projected to remain dominant throughout the forecast period with a share of ~43.6% by the end 2018
On the basis of application type, the global zinc chloride market is projected to be dominated by the dry cell batteries segment, which is expected to register a CAGR of 4.5% over the forecast period. However, the catalyst segment is expected to witness a higher growth rate
On the basis of end use, the use of zinc chloride in the chemical industry is projected to remain the relatively larger end use segment; however, other applications such agriculture and electronics are expected to expand at relatively moderate growth rates
From a regional perspective, China is projected to dominate the global zinc chloride market throughout the forecast period. The region is a production base for a number of global manufacturers and also, exports to Asian and other countries. North America also holds a significant share of ~20% in the global zinc chloride market with the U.S. representing the major market demand. India is projected to be a higher growth country with significant growth opportunities in the latter half of the forecast period. ASEAN, Poland, Brazil and other countries are majorly dependent on the import of zinc chloride from the U.S., China and Europe. Therefore, a number of manufacturers are planning to strategically invest in expanding their sales and production footprint in the region. Latin America and MEA are projected to remain low volume – high growth regions over the forecast period.
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The report highlights some of the top companies operating in the global zinc chloride market such Zaclon LLC, Flaurea Chemicals, Vijaychem Industries, FInOrIC, American Elements, Pan-Continental Chemical Co., Global Chemical Co. Ltd., TIB Chemicals, S.A. Lipmes, Haihua Industry and Yanggu Zhongtian Zinc Industry Co. Ltd., among others.
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