Zinc Chemicals are widely used in the rubber compounding industry as a vulcanization agent which is further demanded by the plastic and automobile industry for the production of radial tires, bias tires, glass, ceramics, conveyor belts, hose, and others. Zinc chemicals are extensively used in the agricultural industry as sprays, fertilizers and are also used in the animal feed. The Global Zinc Chemicals Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to be the fastest growing market, owing to the increasing consumption of Zinc Chemicals in the construction, automobile and agricultural industry among others. It is estimated that the rubber compounding application segment is set to observe the highest CAGR in the market due to growing demand from the automotive sector. Moreover, increasing demand for electrical and electronics, cosmetics and other healthcare products is likely to witness a rapid growth during the forecast period. In addition, the presence of agrarian economies in the region has further augmented the demand for fertilizers and animal feed, hence, adding to the growth of the market. Furthermore, the presence of the largest rubber manufacturers in the world namely Indonesia, and China the demand for Zinc Chemicals is expected to increase during the forecast period.
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The North American market is expected to grow at a steady CAGR due to extensive consumption of Zinc Chemicals in the construction and automobile sector. U.S., and Canada, have achieved a significant place in the market due to the growing investments in the building and construction industries coupled with the increase wave of government spending for the development and renovation of infrastructure.
A moderate development is achieved in Europe due to the growing demand for the product in the developed personal care and health care industry. The high adoption rate of Zinc Chemicals coupled with the increasing demand from automobile sector are other factors contributing to the market growth. In addition, the favorable European Union regulations for the use of Zinc Chemicals in beauty products coupled with the increasing demand for zinc chemicals form the agricultural sector are also adding to the market growth. U.K, Germany, and France among others are some the major countries adding to the growth.
The Global Zinc Chemicals Market is segmented into Product Type and End-User.
On the basis of Type, the market is segregated into zinc oxide, zinc sulfate, zinc carbonate, zinc Chloride.
The Market by Application Industry is further categorized into rubber compounding, agriculture, glass and ceramics, paints and coatings, chemicals, food and pharmaceuticals, textiles, and others.
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Some of the prominent players operating in the Global Zinc Chemicals Market are U.S. Zinc (U.S.), GHC (Canada), Weifang Longda Zinc Industry (China), Hakusuitech co. Ltd (Japan), American Chemet Corporation (U.S.), Rubamin (India), Zinc Oxide LLC (US), Akrochem corporation (U.S.), American chemet corporation (U.S.), and BrüggemannGruppe (Germany) among others.
The Zinc Chemicals Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing market with an encouraging CAGR. The growing population and the increasing personal disposable incomes in the developing nations are the major reason driving the growth of the Zinc Chemicals Market. Moreover, the burgeoning construction industry in countries such as India, China is adding to the demand for zinc chemicals in the paint and coatings industry which in turn is propelling the market growth. The demand for agricultural sprays, fertilizers from the agriculture driven economies such as India and China is yet another factor positively effecting the market. Furthermore, the presence of the largest rubber producing countries in the world such as Indonesia, China and India is also fuelling the demand for Zinc Chemicals owing to its extensive use in rubber compounding. The growing development of the electronics industry mainly in Japan and China is further expected to boost the market demand for Zinc Chemicals in this region.
The North American is another dominant region for the market of Zinc Chemicals exhibiting an expanding CAGR. The presence of the big three automobile companies namely General Motors, Ford and Fiat Chrysler has augmented the demand for Zinc Chemicals for their use in the automobile industry. Furthermore, the new elected government has brought a new wave of investments in construction and renovation of the infrastructure in mainly in the U.S. and Canada will is further expected to boost the market owing to the use of Zinc Chemicals in paints and coatings. Moreover, the approval of the government in the usage of Zinc Chemicals in sun care products is further expected to add to the market growth.
The European market is a lucrative market mainly driven by the developed automobile, healthcare and cosmetic industry. The growing demand for Zinc Chemicals from the cosmetic and personal care industry for the use as a sun protection coupled with the consent of the European Union for the use of zinc oxide in the beauty product is propelling the market growth. Moreover, the presence of arable land in countires such as France, Spain and Germany among others is another factor driving the market of zinc chemicals in the region.
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