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MARKET REPORT OVERVIEW
The global Zinc Dust Market size was USD 109.7 billion in 2023 and the market is projected to touch USD 137.3 billion by 2032, exhibiting a CAGR of 3.25% during the forecast period.
It provide the user with a lot of features that make this particular product service work efficiently and effectively. Applications for zinc chemicals are numerous and they are inorganic chemical compounds. Zinc supports basic cellular function, which in turn supports the healthy operation of the reproductive system, making it a vital mineral for both physical and mental well-being. Additionally, zinc fortifies the immune system and helps avoid frequent skin issues. It is most common to employ zinc chloride, zinc oxide, and zinc sulfate as the three inorganic zinc compounds. This factor has augmented the zinc dust market growth.
The anticipated rate of growth for this particular product service is due to quality level of assurance. Prosperity has been observed for this particular product market with amusing numbers. Two frequent applications of zinc sulfate are oral rehydration in cases of diarrhea and zinc deficiency therapy. Pregnant moms and patients who are presymptomatic should receive zinc sulfate as their first line of treatment. Animal feed additives and natural supplements made of zinc sulfate are used in the food and beverage industry. This has ultimately outraged the sales and demand for this particular market growth and prosperity.
COVID-19 Impact: Market Growth Obstructed by Pandemic due to Lockdown
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps to stop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related to chemical industry. Therefore, a small influence from COVID-19 is anticipated on the zinc dust market share.
LATEST TRENDS
"Culinary Industry to Drive Market Growth"
A latest trend has been witnessed to proliferate the market growth.A major factor driving the expansion of the global market for zinc chemicals will be the usage of zinc sulfate in culinary and medicinal applications. New research and technology advancements are anticipated to benefit zinc nanoparticles utilized for cancer detection, imaging, and therapy in the next years, creating a plethora of prospects for the zinc chemicals sector. A lot of specifications have been made to this particular product which has benefited the market growth. This specific trend has influenced the market growth so much so that the revenue and share numbers of this particular product is touching the skies and soaring over.
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MARKET SEGMENTATION
By Type
Based on type the global market can be categorized into Paint Grade, Chemical Grade, and Others amongst which the leading segment is the Paint Grade.
- Paint Grade: It is nothing but a type of zinc dust with the Paint Grade.
- Chemical Grade: It is basically a type that of zinc dust with the Chemical Grade.
By Application
Based on application the global market can be categorized into Pharmaceutical Industry, Paint Industry, and Chemical Industry amongst which the leading segment is the Pharmaceutical Industry.
- Pharmaceutical Industry: It is just an application where it is used by Pharmaceutical Industry.
- Paint Industry: It is nothing but an application where it is used by Paint Industry.
- Chemical Industry: It is just an application where it is used by Chemical Industry.
DRIVING FACTORS
"Constructional Industries to Boost the Market"
This is the major factor attributing the growth of this particular market. The automotive, construction & infrastructure, and other industries are experiencing a steady increase in demand for high-performance functional paint and coating formulas. Building and construction operations are supported by rapid urbanization and substantial industrial expansion, especially in emerging economies. These factors are anticipated to drive the market growth during the forecast period.
"Personal Care Items to Expand the Market"
This is the second major factor attributing the growth of this particular market and has resulted in the hike of revenue numbers so much so that they are touching the skies. Clients benefit from it. Medications to address zinc deficiency often contain zinc chloride, which is mostly utilized in pharmacology and healthcare. With its ability to block strong UV absorption, zinc oxide is a prominent element in cosmetics and personal care items such as bath soaps, kid-friendly lotions, nail polish, ointments, and sunscreens. Therefore, skin conditions are treated with zinc carbonate. These factors are anticipated to drive the market growth in the present times and also during the forecast period.
RESTRAINING FACTOR
"High Cost and Negligence to Impede Market Growth"
These particular solutions have been very helpful yet extremely costly as well. It has been witnessed that this particular market has experienced immense trouble in the supply chains which has resulted in the restrain for this market growth. Due to the lack of zincate ores, which are required to create zinc chemicals like zinc oxide, zinc sulfate, and zinc chloride, the cost of ores to produce zinc chemicals has gone up. The demand-supply balance in the market for zinc compounds will be impacted by the increase in zinc prices. Furthermore, the market prices for commodities and production expenses are increased by the scarcity of raw materials. This particular factor is anticipated to restrain the market growth and drastically reduce the sales and demands of this particular product market.
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REGIONAL INSIGHTS
The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
"Asia Pacific Dominating the Market due to Advanced Technology"
Asia Pacifc is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period. Due to the region's rapid expansion in the electronics and construction industries, Asia-Pacific is expected to rule the market.
KEY INDUSTRY PLAYERS
Leading Players adopt Acquisition Strategies to Stay Competitive
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Umicore (India)
- Votorantim Group (Brazil)
- Shijiazhuang Xinri Zinc (China)
- EverZinc (Belgium)
- Frankenberg-Metallrecycling GmbH (Germany)
INDUSTRIAL DEVELOPMENT
April 2022: This particular company has attributed the market growth in terms of revenue and shares system. At its Hobart Zinc Works operations in Tasmania, Nyrstar Australia declared plans to invest USD 285 million in building a new electrolysis facility. This development has proved that the company will continue to proliferate this particular product market growth.
REPORT COVERAGE
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 109.7 Million in 2023 |
Market Size Value By |
US$ 151.12 Million by 2032 |
Growth Rate |
CAGR of 3.25% from 2023 to 2032 |
Forecast Period |
2032 |
Base Year |
2023 |
Historical Data Available |
2019-2022 |
Regional Scope |
Global |
Segments Covered |
Type and Application |
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What value is the zinc dust market is expected to touch by 2032?
The global zinc dust market is expected to reach USD 151.12 million by 2032.
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What CAGR is the zinc dust market expected to exhibit by 2032?
The zinc dust market is expected to exhibit a CAGR of 3.25% by 2032.
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Which are the driving factors of the zinc dust market ?
Constructional Industries & Personal Care Items are some of the driving factors of the market.
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What are the key zinc dust market segments?
The key market segmentation that you should be aware of, which include, based on type the zinc dust market is classified as Paint Grade, Chemical Grade, and Others. Based on application the zinc dust market is classified as Pharmaceutical Industry, Paint Industry, and Chemical Industry.
