LONDON--(BUSINESS WIRE)--The global zinc sulfate market size is expected to grow by 78.60 thousand tons during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
Zinc sulfate is crucial to the agricultural industry as it is used as a fertilizer additive to prevent and correct zinc deficiency in crops. Zinc sulfate is the most commonly used source of zinc in granular fertilizers owing to its high solubility in water and low cost of production. Zinc sulfate heptahydrate and zinc sulfate monohydrate exhibit high solubility in soil and are thus suitable for use in all types of soils. The increasing demand for fertilizer additives is expected to drive the consumption of zinc sulfate 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 significant trends and market drivers that will influence market growth over 2020-2024.
Zinc Sulfate Market: Increasing Use of Zinc Sulfate as a Water Treatment Chemical
Zinc sulfate 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.
“Factors such as the increasing zinc production and the rising demand for zinc sulfate 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 (APAC, Europe, South America, North America, and MEA).
The APAC region accounted for the highest zinc sulfate market share in 2019, followed by Europe, South America, North America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to 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:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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