From GlobeNewswire: 2024-08-02 08:50:00

Exactitude Consultancy, the research arm of Ameliorate Digital Consultancy, has released a detailed report on the Zinc Chemicals Market. The market size was 5.12 million tons in 2023, projected to reach 7.34 million tons by 2033 with a 3.67% CAGR. The short-term demand was boosted by automotive and tyre sectors during COVID-19. Health concerns may hinder market growth, but upcoming advancements in zinc nanoparticles for cancer detection present opportunities. The rubber processing segment is expected to dominate the market, driven by tire manufacturing and galvanization processes. Zinc chemicals play a vital role in tire production, especially with the increasing demand for automobiles, including electric vehicles. The International Rubber Study Group reported a 5.4% increase in global natural rubber production in 2021, reaching 13.770 million tons. Global demand for rubber in 2021 increased by 9.4% year-over-year to 29.57 million tons, surpassing pre-pandemic levels. The Asia-Pacific region, led by countries like China, India, and Japan, is a major producer of automobiles, contributing to the demand for zinc chemicals in the region. North America’s Zinc Chemicals Market is growing steadily, driven by applications in agriculture, construction, and automotive sectors. The U.S. dominates the market with its advanced industrial base and investments in infrastructure and automotive sectors. The growing emphasis on sustainable farming practices and electric vehicles also boosts the demand for zinc chemicals. Europe’s Zinc Chemicals Market is characterized by strong demand from the automotive, construction, and chemical processing industries. Germany, France, and Italy are key contributors to the market, driven by their automotive and construction sectors. Innovation and adoption of zinc chemicals are encouraged by the region’s stringent environmental regulations. South America’s Zinc Chemicals Market is growing, supported by the agricultural sector and infrastructure development projects. Brazil is a key player due to its vast agricultural industry, while Argentina benefits from government initiatives promoting sustainable farming practices. The Middle East and Africa Zinc Chemicals Market is projected to grow, driven by applications in agriculture, construction, and oil and gas sectors. Saudi Arabia and South Africa are leading markets in the region, with investments in infrastructure projects and the adoption of advanced materials fueling the demand for zinc chemicals. Key players in the Zinc Chemicals Market include American Chemet Corporation, EverZinc, Nexa, US Zinc, and more. Recent developments include expansions, partnerships, and acquisitions aimed at meeting growing demand and enhancing production efficiency. American Zinc Recycling, EverZinc, and US Zinc are among the companies making significant strides in the market.



Read more at GlobeNewswire: Zinc Chemicals Market is expected to be valued at USD 41.04