Zinc Sulfate Market Size 2024-2028 

The zinc sulfate market size is projected to increase by USD 803.7 million at a CAGR of 5.78% between 2023 and 2028. Market growth hinges on several factors, notably the rising demand for zinc sulfate within the agricultural sector, where it is recognized as safe for use in food and medical applications. Zinc sulfate plays a crucial role in enhancing crop yield and quality, meeting the increasing global demand for agricultural products. Its applications extend beyond agriculture to include pharmaceuticals and food fortification, driven by its safety profile and nutritional benefits. As the agricultural industry strives to optimize productivity and sustainability, the importance of zinc sulfate in promoting plant health and resilience becomes more pronounced. This versatile compound continues to be integral in supporting global efforts to ensure food security and meet evolving nutritional standards across various sectors.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

Application Insights

The market share growth by the agriculture segment will be significant during the forecast period. Zinc is essential micronutrient plants need to grow efficiently. Zinc sulfate is a colorless crystalline solid. It is commonly used in the agricultural industry, especially to counter the various levels of zinc deficiencies which can lead to poor plant development and reduced productivity.

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The agriculture segment was valued at 1.36 billion in 2018.  Zinc sulfate can be applied to the crops at the time of sowing and in the standing crops. The increasing agricultural activities across the globe will drive its use during the forecast period. For instance, in 2020-2021, the share of agriculture in India's GDP reached almost 20% for the first time since 2004. This was an increase from 17.8% in 2019-2020. The last time the contribution of the agriculture sector to GDP was at 20% was in 2003-2004. Hence, the expansion in agricultural activities will also drive the demand for nitrogenous fertilizer, which, in turn, will boost the growth of the global market during the forecast period.

Regional Analysis

APAC is estimated to contribute 37% to the growth of the global market during the forecast period. The market holds significance in various industries, including agrochemicals and industrial chemicals. Millennials are increasingly aware of the benefits of this versatile compound in their daily lives, from water-treatment systems to herbicides and cosmetics. In the agrochemical sector, Zinc Sulfate functions as a fertilizer additive, improving the productivity of crops such as oysters, beef, and agricultural plants. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period.
 

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In industrial applications, it serves as a corrosion inhibitor and flotation agent in the mining industry. Furthermore, it is used in the production of medicines, pigments, adhesives, detergent, deodorants, and even in the synthetic fibers industry for textile shades and lithopone pigment. The cost-effectiveness and wide range of applications make Zinc Sulfate an indispensable component in diverse industries, from healthcare and agriculture to fabric manufacturing and food production. Despite the increased production volume, reduced productivity in some areas due to the high demand can lead to potential price fluctuations.

Market Dynamics

The market for ZnSO4 (zinc sulfate) is experiencing a significant surge in usage across various industries including the textile sector and agriculture industry. In agriculture, zinc sulfate is widely utilized as a fertilizer due to its cost-effectiveness and ability to improve crop yields, particularly in regions with high population density and intense agricultural activity. It plays a crucial role in addressing nutrient deficiencies in plants, thereby enhancing their growth and quality. Beyond agriculture, zinc sulfate finds application in the textile sector for fabric manufacturing, where it contributes to dyeing and finishing processes. Additionally, its use extends to the medicine production industry for treating skin-related ailments and developing insecticides and pesticides. In the water treatment industry, zinc sulfate aids in purifying water by removing contaminants, highlighting its versatility across different sectors. Looking ahead to the projection period, the demand for zinc sulfate is expected to continue growing as industries recognize its multifaceted benefits and essential role in supporting various industrial and agricultural applications.

Key Market Driver

The increasing demand for zinc sulfate in the agricultural industry is notably driving market growth. This product plays an important role in the agricultural industry. In the agricultural industry, it is generally used as a fertilizer additive for preventing and correcting zinc deficiency in crops. It is the most commonly used source of zinc in granular fertilizers owing to its high solubility in water and low cost of production. Hence, the increasing demand for fertilizer additives is expected to drive the consumption of this product during the forecast period.

Growing agricultural activities increases the use of fertilizers, insecticides, and pesticides. The global agricultural industry is registering significant expansion, led by the rising demand for food in highly populated countries such as India and China. Therefore, the expansion in the agricultural industry is expected to accelerate market growth during the forecast period.

Significant Market Trend

Rising demand for zinc sulfate in the textile industry is an emerging trend in the market. This product is used for manufacturing fabrics in the textile industry. It is added to various chemicals to obtain different shades for textiles. In addition, it is also used as a precursor to the lithopone pigment that is used in the textile industry. Hence, expansion in the global textile industry will also increase the use of this chemical during the forecast period.

Furthermore, it is also used for manufacturing synthetic fiber and is also used as a raw material in the synthetic fiber industry to produce fiber and textile materials. Therefore, the rising demand for synthetic fiber in the textile industry will accelerate the demand for this product and in turn, fuel the market growth during the forecast period. 

Major Market Challenge

Lack of awareness is a major challenge impeding the market growth. For the expansion of sustainable agriculture, one of the biggest challenges arises from the social, technological, and financial background of farmers. The lack of proper knowledge encourages farmers to use conventional ways. With smart and sustainable farming techniques gaining traction in the market, farmers must be aware of agricultural products such as zinc sulfate, which are used to increase the yield of crops.

In developing countries, skilled labor and lack of awareness among farmers are key challenges in implementing this product. The lack of awareness regarding the benefits and advantages of products will affect the global market in terms of volume consumption and value generation. Therefore, these factors will hinder the expansion of the market during the market research and growth period.

Key Companies & Market Insights

Companies are implementing various market trends and analysis strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market and resulting of market growth analysis.

Alpha Chemicals - The company offers a wide range of chemicals such as Black Iron Oxide and Ferrous Sulfate Heptahydrate. The key offerings of the company include zinc sulfate. 

The  market  growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

Alpha Chemicals, AVA Chemicals Pvt. Ltd., BALAJI INDUSTRIES, Bohigh Group, Changsha Haolin Chemicals Co. Ltd., Changsha Lantian Chemicals Co. Ltd., Clean Agro Chemicals, Grillo Werke AG, Illinois Tool Works Inc., Merck KGaA, Oasis Fine Chem, Ravi Chem Industries, Rech Chemical Co. Ltd., Redox Ltd., Saba Chemical GmbH, Sulfozyme Agro India Pvt. Ltd., Tianjin Xinxin Chemical Factory, Vedanta Ltd., WATA Chemicals Ltd., and Zinc Nacional S.A.

The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting growth strategies.

Global Market Customer Landscape

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Market Analyst Overview

Zinc Sulfate is a crucial inorganic compound with the chemical formula ZnSo4. It is widely used in various industries, including agriculture and textiles, due to its unique properties. In the agricultural industry, Zinc Sulfate has seen a surge in usage as a fertiliser to combat zinc deficiency in crops. Its granular form and high solubility in water make it an ideal choice for agricultural sprays. In the textile sector, Zinc Sulfate is used as a precursor for producing hues for textiles. It acts as a mordant, enhancing the dyeing process and improving the colorfastness of textiles. In the chemical industry, Zinc Sulfate is used as a raw material for producing pesticides, insecticides, and other chemicals. Moreover, Zinc Sulfate is used in various applications such as plating zinc, coagulant, clarifier, glue, and in the production of rayon. It is also used in the pharmaceutical industry as an electrolyte, an astringent, and an anti-microbial agent in oral hygiene products, cosmetics, and biocides. Its ability to clean the skin and deodorise makes it a popular ingredient in personal care products. The low production cost of Zinc Sulfate makes it an affordable raw material for various industries. The market for Zinc Sulfate is expected to grow due to its wide range of applications and increasing demand in various industries. Agreements and contracts between manufacturers and suppliers are expected to drive the market growth.

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What are the Key Data Covered in this Zinc Sulfate Market Research Report?

• CAGR of the market forecast during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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