LONDON--(BUSINESS WIRE)--The zinc sulfate market size is poised to grow at a CAGR of almost 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Zinc sulfate is crucial to the agricultural industry. Zinc sulfate is commonly used as a fertilizer additive in the agricultural industry to prevent and correct zinc deficiency in crops. Zinc sulfate is used in granular fertilizers due to its high solubility in water and low cost of production. Zinc sulfate heptahydrate and zinc sulfate monohydrate display high solubility in soil and are suitable for use in all types of soils. These benefits are driving the demand for fertilizer additives such as zinc sulfate, which in turn is expected to fuel the market growth during the forecast period.
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As per Technavio, the increasing use of zinc sulfate as a water treatment chemical will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Zinc Sulfate Market: Increasing Use of Zinc Sulfate as a Water Treatment Chemical
Zinc sulphate functions as a corrosion inhibitor in cooling towers and municipal water systems to prevent corrosion and heavy damage to the facilities, which consist of heavy and expensive equipment. The increasing need for clean water and sludge dewatering in sewage treatment plants will drive the demand for corrosion inhibitors, which will have a positive impact on the growth of the zinc sulfate market during the forecast period.
“Other factors such as the increasing zinc production and the rising demand for zinc sulphate from the textile industry will have a significant impact on the growth of the zinc sulfate market value during the forecast period,” says a senior analyst at Technavio.
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Zinc Sulfate Market: Segmentation Analysis
This market research report segments the zinc sulfate market by application (agriculture, medical, and others) and geography (the Americas, APAC, and EMEA).
The APAC region held the largest share of the market in 2018, followed by EMEA and Americas respectively. The growth of the zinc sulfate market share in APAC can be attributed to several factors such as the growth of the agriculture sector in developing countries and the rising demand for medicines and other pharmaceutical products in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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