Growing Agrochemicals Demand to Spur the Zinc Sulphate Market Growth
Rockville , May 11, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global zinc sulphate market is estimated to be valued at US$ 1.9 billion in 2023 and is anticipated to grow at a CAGR of 6.7% during the forecast period of 2023-2033. magnesium chloride
The growing production of pesticides is the major factor expected to drive the zinc sulphate market during the forecast period. Developments in the agricultural and agrochemical industries are estimated to further boost the growth of the zinc sulphate market.
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Zinc sulphate is used as a weedicide and also protects plants from pests. The decrease in the amount of arable land increased the need for zinc sulphate to eliminate weed growth and increase crop quality and production. Further, zinc sulphate is often used in the agrochemical industry to treat the deficiency of zinc in crops. It is also used in animal feeds to improve animal health.
On the back of this and coupled with the growing use of zinc sulphate as a corrosion inhibitor in wastewater treatment creates immense growth opportunities for the market players operating in the zinc sulphate market.
Key Takeaways from Market Study
The global zinc sulphate market size reported by Fact.MR for 2022 was US$ 1.8 billion
The global zinc sulphate market size is estimated to reach US$ 3.7 billion in 2033
The projected CAGR for the global zinc sulphate market from 2023 to 2033 will be 6.7%.
Prominent players operating in the zinc sulphate market include Balaji Industries, and Changhsa Haolin Chemicals Co., Ltd, among others
China accounted for the prominent zinc sulphate production in terms of overall volume produced
“Surging Corrosion Inhibitors Demand for Waste Water Treatment is Likely to Drive Zinc Sulphate Market During the Assessment Period” says a Fact.MR analyst.
Key Players of Zinc Sulphate Market
Changhsa Haolin Chemicals Co., Ltd
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The prices of zinc sulphate have been tumbling upward and downward due to rising energy and raw material costs. Manufacturers were forced to reduce margins and manage their overall operational costs to ensure a hassle-free supply of products to the end users. Owing to this, manufacturers are focusing on balancing out these upward and downward trends by maintaining a proper inventory at different price levels to facilitate the end-user demand accordingly.
Segmentation of Zinc Sulphate Industry Research Report
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the zinc sulphate market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of type (anhydrous, hexahydrate, heptahydrate, and monohydrate), application (agrochemicals, chemicals, pharmaceuticals, synthetic fibers, water treatment, and others), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
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