An Incisive, In-depth Analysis on the Zinc Chloride Market
This study offers a comprehensive, 360 degree analysis on the Zinc Chloride market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Zinc Chloride market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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. Zinc chloride is most commonly used for galvanizing, soldering and tinning fluxes, odour control, oil-gas wells, vulcanized fiber, reclaimed rubber, textile finishing, liquid fertilizer and dry cell batteries among others. Sales revenue of the zinc chloride market is pegged at approximately 270.9 Mn in 2018 and is projected to reach a value of US$ 426.4 Mn by the end of 2028, expanding at a CAGR of 4.6% over the forecast period (2018 – 2028).
Factors influencing the Global Zinc Chloride Market Growth
The growing footprint of the chemical industry is a key reason contributing to the demand growth of metal based chemicals. Zinc chemical demand has been growing over the last few years as these solvents are used for different applications such as galvanizing, soldering and tinning fluxes, odour control, vulcanized fibre, and textile finishing, among others.
Demand for batteries in industrial and commercial applications is expected to rise similarly. The increasing consumer demand for batteries is forecast to match the demand for primary cells and dry cell batteries over the years. With advancements in technology, the demand for highly active advanced batteries is expected to rise. Zinc chloride batteries are considered as primary cell batteries and also used in dry cells. With growing consumption of battery grade zinc chloride in industrial applications, the zinc chloride market is estimated to grow significantly over the forecast period.
Catalysts are prominent materials used to increase the rate of chemical reactions without bringing any permanent changes. The catalyst industry is growing with the developing chemical and polymer industries. Moreover, the substantial demand for catalysts in industrial applications and from the automotive industry will also affect the growth of the zinc chloride market.
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 is further expected to hamper the zinc chloride market growth.
In order to sustain the market competition and expand the global footprint, zinc chloride manufacturers are entering developing markets such as India, Brazil, Poland and GCC countries, among others.
Global Zinc Chloride Market Segmentation and Forecast
The global zinc chloride market can be segmented on the basis of grade type, application, end use sector and region. On the basis of grade type, the global zinc chloride market can segmented into high purity grade, battery grade, technical grade and commercial grade. On the basis of application type, the global zinc chloride market can be segmented into dry cell batteries, water treatment, catalyst and others. On the basis of end use sector, the market can further be segmented into electronics, chemical, agriculture, pharmaceutical and other. On the basis of the region, the global zinc chloride market can be segmented into nine regions: North America, Latin America, Eastern Europe, Western Europe, SEA (South East Asia) and Pacific, China, India, Japan and Middle East and Africa (MEA).
Global Zinc Chloride Market Analysis by Grade Type
On the basis of type, the high purity grade zinc chloride segment is projected to witness a relatively higher growth rate. High purity based powder and solution form zinc chloride are used for different applications, including galvanizing and soldering fluxes. Thus, they are projected to gain significant shares over the forecast period. The battery grade segment is projected to witness moderate growth.
Global Zinc Chloride Market Analysis by Application
In terms of application, dry cell battery and catalyst segments are projected to hold dominant shares throughout the forecast period. With technological advancements related to dry cell battery manufacturing, zinc chloride has further fuelled the demand from this segment. The catalyst segment is projected to witness a relatively higher growth rate over the forecast period, expanding at a CAGR of 4.7 % over the forecast period.
Global Zinc Chloride Market Analysis by End Use
On the basis of end use, the global zinc chloride market is projected to be dominated by the chemical segment. Zinc chloride is widely used in the chemical industry for galvanizing fluxes, soldering and tinning fluxes, odour control, vulcanized fibre and textile finishing, among others. Agriculture and electronic industries are also projected to gain high traction over the forecast period. The pharmaceutical segment is projected to witness a relatively moderate growth rate over the forecast period.
Global Zinc Chloride Market Analysis by Region
From a regional perspective, China is projected to dominate the global zinc chloride market throughout the forecast period. The region has 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 ~21.6% in the global zinc chloride market with the U.S. representing the major market demand. India is projected to be a higher growth rate 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.
Future Market Insights in its report titled “Zinc Chloride Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018–2028” offers detailed insights and in-depth research on the global zinc chloride market over a 10-year forecast period 2018 – 2028 along with historical data for the period 2013 –2017. The report covers important factors driving the growth of the global zinc chloride market, untapped opportunities for manufacturers, trends and developments shaping the dynamics of the global zinc chloride market and other insights across various key segments.
The report identifies the drivers and restraints affecting the growth of the global zinc chloride market. Changing trends are also analysed and incorporated in the report to equip the client with exhaustive information about the market, resulting in better decision making. Macroeconomic factors that directly and indirectly affect the growth of the global zinc chloride market are also incorporated in the report.
Global Zinc Chloride Market Segmentation
To understand and assess opportunities in the global zinc chloride market, we have divided the report into three sections based on market segmentation as under:
By Grade Type
By Application Type
By End Use
The market value for all segments is taken in US$ Mn and the market volume is also identified in Tons for all the segments.
A section of the report highlights country-wise zinc chloride demand. It provides a market outlook for 2018–2028 and sets the forecast within the context of the global zinc chloride market, including new technological developments as well as product offerings for niche applications in the global zinc chloride market.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. The report provides detailed market share analysis of the zinc chloride market on the basis of key manufacturers. Detailed profiles of manufacturers are also included within the scope of the report to evaluate strategies, key offerings and recent developments in the global zinc chloride market.
Our research methodology
Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of zinc chloride is deduced on the basis of grade, where the average price of each zinc chloride type is inferred across all the nine assessed regions/countries. The market value of the global zinc chloride market is thus calculated from the data provided by the average selling price and market volume.
For the 10-year forecast of the global zinc chloride market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast are the size of the current market, inputs from the supply side and the demand side and other dynamics shaping the scenario of the market.
In the compilation of the report, the forecast is conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the client with crystal clear insights and future opportunities as far as the global zinc chloride market is concerned.
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 most commonly used for galvanizing, soldering and tinning fluxes, odor control, oil-gas wells, vulcanized fiber, reclaimed rubber, textile finishing, liquid fertilizer and dry cell batteries, amongst others. The increasing footprint of the chemical industry is a prime reason for the demand growth of metal-based chemicals. With the growing demand for zinc chloride in battery manufacturing application, there has been a rise in the demand for zinc chloride consumption.