The Demand for Zinc Sulfate in Agriculture and Industry Is Expected to Propel the Global Market to Reach USD 5.2 Billion By 2033.

Introduction

The Global Zinc Sulfate Market is projected to grow substantially, with estimations suggesting it will reach a value of approximately USD 5.2 Billion by 2033, up from USD 2.6 Billion in 2023. This growth is anticipated to occur at a robust (CAGR) of 7.2% during the forecast period spanning from 2023 to 2033.

The Zinc Sulfate Market is a chemical compound used in agriculture, dyeing, and pharmaceutical industries. It is used as fertilizer, feed supplement, and in rayon production. The demand for zinc sulfate is influenced by agricultural practices, industrial applications, and dietary supplements. As micronutrients become more important in farming, the agricultural sector relies on zinc sulfate to improve crop yields and soil health. The industrial sector uses zinc sulfate in water treatment and textile coagulation. The market is expected to expand as these industries grow and demand for efficient agricultural solutions increases globally.

Segmentation of the Zinc Sulfate Market

Zinc sulfate monohydrate is widely used in the pharmaceutical industry for medication production and is available in a stable form. It is also used in nutritional supplements to treat human zinc insufficiency and prevent animal deficiencies. Zinc sulfate is also used in the rayon industry for coagulating and precipitating baths, preventing fiber crenulation. The demand for zinc sulfate in its monohydrate form is expected to grow at a CAGR of 7.1% over the projected period.

Zinc sulfate is used in agriculture to address plant zinc deficiency, which causes stunting, chlorosis, and deformed leaves. It is absorbed by soil and is one of the seven micronutrients needed for plant growth. Zinc sulfate is also used as a pest and weed killer, increasing crop quality and productivity due to reduced arable land. The increasing use of zinc sulfate in agrochemicals is predicted to increase sales, with the agrochemical segment holding a 47.9% market share in 20223.

Growth Factors of the Zinc Sulfate Market

Ø  Agricultural Demand: Zinc sulfate is widely used as a fertilizer additive to prevent zinc deficiency in crops. As global agricultural activities expand to meet the food demands of a growing population, the need for zinc sulfate in the agriculture sector increases.

Ø  Rising Awareness of Micronutrient Deficiency: There is growing awareness about the importance of micronutrients in plant growth and development. Farmers are increasingly using zinc sulfate to enhance crop yields and improve the nutritional quality of food, driving market growth.

Ø  Industrial Applications: Zinc sulfate is used in various industrial applications, including the production of rayon, as a mordant in dyeing, and as a preservative for skins and leather. The expansion of these industries contributes to the increased demand for zinc sulfate.

Ø  Healthcare Sector: Zinc sulfate is used in the pharmaceutical industry for its health benefits, including the treatment of zinc deficiency in humans. The increasing focus on health and wellness, coupled with rising healthcare expenditures, supports the growth of the zinc sulfate market.

Ø  Water Treatment: Zinc sulfate is utilized in water treatment processes to control the growth of algae and remove impurities. The growing need for clean and safe water, driven by environmental regulations and increasing water scarcity, boosts the demand for zinc sulfate.

Ø  Animal Feed Industry: Zinc sulfate is an essential ingredient in animal feed to ensure proper growth and development in livestock. The expanding livestock industry, driven by the rising demand for meat and dairy products, fuels the growth of the zinc sulfate market.

Ø  Technological Advancements in Agriculture: Advances in agricultural technology, such as precision farming and controlled-release fertilizers, are increasing the efficiency and effectiveness of zinc sulfate usage, thereby driving market growth.

Ø  Government Initiatives and Subsidies: Governments around the world are promoting the use of micronutrients in agriculture through subsidies and initiatives. These supportive policies encourage farmers to use zinc sulfate, thereby boosting market growth.

Ø  Urbanization and Infrastructure Development: The rapid pace of urbanization and infrastructure development, particularly in emerging economies, leads to increased construction activities. Zinc sulfate is used in the manufacturing of various construction materials, contributing to market growth.

Ø  Environmental Benefits: Zinc sulfate is considered environmentally friendly compared to some other chemicals used in agriculture and industry. Its use supports sustainable practices, which is increasingly important to consumers and businesses alike.

Regional Analysis

In 2023, the North American zinc sulfate market held a 46.2% share, with oysters being the most zinc-rich food. Beef, a popular source of zinc, makes up 20% of Americans' daily intake. Canada had the highest growth rate on the North American continent. The European market, primarily used in pharmaceuticals, held a significant share due to its potential health benefits. The UK market expanded at the fastest rate, while the German market retained the largest market share.

List of Market Segmentation

By Type

o   Anhydrous

o   Hexahydrate

o   Monohydrate

o   Heptahydrate

o   Other Type

By Application

o   Drugs and Medicine

o   Agrochemical

o   Chemical

o   Synthetic Fibers

o   Water Treatment

o   Other Applications

Competitive Landscape

o   Balaji Industries

o   Changsha Haolin Chemicals Co. Ltd

o   Midsouth Chemicals

o   Gupta Agricare

o   China Bohigh

o   Old Bridge Chemical

o   Tianjin Topfert Agrochemical Co

o   Rongqing Chemical Co. Ltd

o   Clean Agro

o   Oasis Fine Chem

o   Saba Chemical GmbH

o   Redox

o   Other Key Players