The global zinc sulfate market research report by Technavio predicts the market to post a CAGR of close to 4% during the period 2019-2023.
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Technavio has released a new market research report on the global zinc sulfate market for the period 2019-2023. (Graphic: Business Wire)
A key driver for the global zinc sulfate market is the increasing demand for zinc sulfate in the agricultural industry. Zinc sulfate is usually used as a fertilizer additive in the agricultural industry for preventing and correcting zinc deficiency in crops. Zinc sulfate is the most commonly used source of zinc 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.
This global zinc sulfate market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing zinc production as one of the key trends in the global zinc sulfate market:
Global zinc sulfate market: Increasing zinc production
The gap between the supply and demand of zinc adversely affected zinc mining in the past few years. Zinc is usually used in many alloys such as iron, copper, and bronze, and others. It is used for manufacturing chemical compounds such as zinc oxide and zinc sulfate. The closure of mines led to a shortage in production around the globe, which increased zinc prices.
“The high prices of zinc increased zinc production by manufacturers in 2018. The major zinc producing countries such as China, Australia, India, and Peru started manufacturing zinc in 2017. China produced 5.1 million metric tons of zinc in 2017 and was the largest global zinc producer,” says a senior research analyst at Technavio.
Global zinc sulfate market: Segmentation analysis
This zinc sulfate market analysis report segments the market by application (agriculture, medical, and others) and geography (the Americas, APAC, and EMEA).
The agriculture segment held the largest zinc sulfate market share in 2018, accounting for about 47% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with around 44% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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