DUBLIN--(BUSINESS WIRE)--The "Zinc Chemical Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The market for zinc chemical is expected to grow at a CAGR of about 5% globally during the forecast period.
Zinc is a chemical element. It is a bluish-white metal having shiny surface. Zinc boil & vaporizes easily when heated. Zinc used in galvanizing other metals. The galvanization is a process of coating of a zinc metal on the surface of other metal. Zinc does not rust easily like iron and other metals. So, the zinc protects the other metals & iron from rust. Owing to the versatile and favorable chemical properties of Zinc Chemical, its application in the automotive, agriculture and construction industry is rising rapidly, consequently propelling the market growth.
However, the health hazard related to zinc chemicals like direct contact with eyes or skin may cause irritation, indigestion and respiratory tract infection if consumed or inhaled are likely to hinder the expansion of the studied market. Moreover, the unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth.
Companies Mentioned
- Akrochem Corporation
- American Chemet Corporation
- Boliden Group
- EverZinc Canada (GHC)
- L. Brggemann GmbH & Co. KG
- Numinor
- Nyrstar
- Pan-Continental Chemical Co., Ltd.
- Rubamin
- TOHO ZINC CO., LTD.
- U.S. Zinc.
- Weifang Longda Zinc Industry Co., Ltd.
- Zochem LLC
Key Market Trends
Rubber Processing Segment to Dominate the Market
- Rubber processing segment stands to be the dominating segment owing to large scale consumption of zinc chemical in galvanization and manufacturing tires.
- Zinc chemicals are widely used in the manufacturing of tires and tubes that are widely used in the automobiles, the growing automobile industry is expected to augment the overall demand for zinc chemicals in the near future.
- Growing popularity for electric vehicle is expected to drive the demand for automotive tires, thereby propelling the consumption of tires in the automotive industry which in turn drive the zinc chemical market.
- Since 2018, the automotive industry has been experiencing a decline in production in countries, like United States, China, and Germany, due to which the consumption of zinc chemical is expected to drop. However, from 2021, the automotive industry is expected to witness a recovery in production.
- Asia-Pacific countries like China, India, Japan, South Korea and Thailand are the major producer of automotibles; hence the requirement for zinc chemical market is projected to increase from this region in the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region stands to be the dominating region owing to the vast and extensive application of zinc chemical derivatives in various applicationa including rubber processing, chemicals paints & coatings and agriculture among others.
- China exported 5.4 million metric ton of tires in 2018. Almost 40% of the passenger car tires (total of 2 million metric ton), were sold in the United States and European Union. Of the 3.4 million metric ton of truck and bus tires exported, nearly 25% were sold in those markets.
- In India, there are 40 tire manufacturers and around 6,000 non-tire manufacturers producing seals, conveyor belts, and extruded and moulded rubber profiles to be used in automotive, railway, defence, aerospace and other applications.
- Japan possesses one of the largest rubber industries in the world, with over 1.33 million ton of rubber material consumed in 2018 and witnessed a Y-o-Y growth of 3.1% over 2017. Japan is ranked third in the world, only behind China and the United States, in terms of total amount of rubber material consumed. The largest producers of tires in Japan, like Tosoh Corporation, Zeon Corp., and Toyo Tire & Rubber Co. Ltd, are undergoing capacity additions.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rising Utilization in Automotive Industry
4.1.2 Increasing Demand from Construction Industry
4.2 Restraints
4.2.1 Health Hazard Related to Zinc Chemical
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Zinc Oxide
5.1.2 Zinc Sulfate
5.1.3 Zinc Carbonate
5.1.4 Zinc Chloride
5.1.5 Others
5.2 End-user Industry
5.2.1 Agriculture
5.2.2 Chemicals and Petrochemicals
5.2.3 Food & Beverage
5.2.4 Pharmaceutical
5.2.5 Paints & Coatings
5.2.6 Rubber Processing
5.2.7 Others
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 R&D in Application of Zinc Nanoparticle in Medical Industry
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/r3nag2
