Zinc Sulphate Market Size, Share & Industry Analysis, By Type (Heptahydrate, Monohydrate, Anhydrous, and Hexahydrate), By Application (Agrochemicals, Pharmaceuticals, Chemical Synthesis, Synthetic Fibers, Water Treatment, and Others), and Regional Forecast, 2024-2032

The global zinc sulphate market size was valued at USD 1.82 billion in 2023 and is projected to grow from USD 1.91 billion in 2024 to USD 2.92 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period. Asia Pacific dominated the zinc sulphate market with a market share of 54.4% in 2023.

Zinc sulphate is an inorganic compound that serves as a dietary supplement and is used in various medicinal applications to prevent or treat zinc deficiency. Its formula, ZnSO4, encompasses several hydrate forms, making it versatile for correcting zinc levels in the body and as an astringent in eye drops and lotions. Zinc sulfate plays a critical role in enzyme function, protein synthesis, and cell division, highlighting its importance in maintaining a healthy immune system, wound healing processes, and overall cellular metabolism. Additionally, zinc sulphate is utilized in agriculture to fortify soils and animal feeds due to its essential role in plant and animal physiology.

The COVID-19 pandemic significantly affected the market, impacting both supply and demand. At first, global supply chain disruptions were experienced due to lockdowns and movement restrictions, which affected mining operations and the manufacturing of zinc sulphate.

Zinc Sulphate Market Trends

Government Initiatives Aimed at Improving Crop Yield Will Create New Demand in Market

Government initiatives focused on enhancing agricultural productivity have grown in scope and intensity. Among various measures, a significant emphasis has been placed on improving crop yields through advanced farming techniques and the use of fertilizers. One such initiative involves encouraging the use of zinc sulphate as a micronutrient fertilizer, recognizing its critical role in plant growth and health.

Governments and agricultural agencies have ramped up efforts to educate farmers about the importance of soil health and micronutrients. Through workshops, the agricultural sector, and mass media campaigns, farmers are becoming increasingly aware of the benefits of zinc sulfate in boosting crop yield. By recognizing and addressing the micronutrient needs of crops, these initiatives are paving the way for more productive and sustainable agricultural sprays.

Zinc Sulphate Market Growth Factors

Growing Zinc Sulfate Demand from Pharmaceutical Industry to Drive Market Trend

The pharmaceutical industry has witnessed a growing demand for zinc sulfate, an essential mineral used extensively in medical applications. This surge can be attributed to its critical role in human health, acting as a vital component in enzyme reactions, protein synthesis, and immune function. Zinc sulfate is utilized in various pharmaceutical formulations, including those for nutritional supplements, as it is recognized for its efficacy in treating and preventing zinc deficiency, which can lead to a range of health issues, such as growth retardation, acute diarrhea in children, and slow wound healing, among others.

In addition to its nutritional benefits, zinc sulfate has found applications in the formulation of tablets for cold therapy, demonstrating antiviral properties that help reduce the duration and severity of cold symptoms. Its inclusion in oral rehydration solutions has further bolstered demand, particularly in regions where acute diarrhea remains a leading cause of mortality in children.

RESTRAINING FACTORS

Volatility in Raw Material Prices to Hinder Market Growth

Zinc sulfate, a chemical compound used widely in agriculture, pharmaceuticals, and manufacturing, often observes volatility in its prices due to several factors, such as interruptions in the mining of zinc ore, logistical challenges, or geopolitical issues in key producing regions that can create supply shortages, propelling prices upward. Moreover, high demand from agriculture for use as a micronutrient in fertilizers or from the pharmaceutical industry for supplements and treatments can strain supplies and increase prices. Conversely, a decrease in demand can lead to price drops. Also, the production of zinc sulfate involves energy-intensive processes. Therefore, fluctuations in energy prices, particularly electricity and fossil fuels, can have a direct impact on prices, creating a hurdle for the zinc sulphate market growth.

Zinc Sulphate Market Segmentation Analysis

By Type Analysis

Heptahydrate Segment Held a Dominant Share Due to its Easy Usability in Solutions

Based on type, the market is segmented into heptahydrate, monohydrate, anhydrous, and hexahydrate.

The heptahydrate segment held a dominant zinc sulphate market share in 2023. Zinc sulfate heptahydrate is an inorganic compound consisting of one zinc ion, one sulfate ion, and seven water molecules (hydration). It appears as a white crystalline powder or colorless transparent crystals. It is highly soluble in water, making it easily usable in solutions. Zinc sulfate heptahydrate is used in the production of rayon (a type of fiber), as a mordant in dyeing processes, and in the manufacture of lithopone (a white pigment).

Zinc sulphate monohydrate is expected to hold considerable growth during the forecast period. It is a highly soluble form of zinc supplement that is primarily used to prevent and treat zinc deficiency. It can be found in various forms, including powder and tablets, making it suitable for different applications, such as agriculture for soil supplementation and in animal feeds to ensure the proper growth and health of livestock. In humans, it is important for immune function, wound healing, DNA synthesis, and cell division. Its monohydrate form ensures stability and ease of measurement, providing a reliable source of zinc for those in need of supplementation.

By Application Analysis

Agrochemicals Segment Holds a Major Market Share as it Plays a Crucial Role in Various Biochemical Processes

Based on application, the market is segmented into agrochemicals, pharmaceuticals, chemical synthesis, synthetic fibers, water treatment, and others. The application of agrochemicals is dominant in the market. Zinc sulphate is an inorganic compound that serves as an essential micronutrient for plants, playing a crucial role in various biochemical processes. Its application in the agricultural industry, primarily through agrochemicals, aims to correct zinc deficiency in crops, which can lead to stunted growth, reduced yield, and overall poor plant health. The process of applying zinc sulfate in agrochemicals involves several methods, including soil application, foliar sprays, and inclusion in fertilizers.

The application of water treatment has grown prominently. Zinc sulphate is a chemical compound that is used in water treatment processes to remove moss and algae. It can also be used to treat water to prevent the occurrence of rust in pipes and other metal components within the water system. Zinc sulfate works by precipitating the algae or moss as solid particles, which can then be filtered out of the water, thereby improving the quality and clarity of the water.

REGIONAL INSIGHTS

The global market scope is classified across five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

Asia Pacific led the global market in 2023 due to the agriculture and healthcare industries. China holds the leading market share due to its prominence as a manufacturing hub. Additionally, the development of the Indian market can be attributed to the increasing product consumption by chemical industries, which is linked to growing industrialization and rising disposable income levels.

North America is projected to experience significant annual growth in the coming years. The U.S. holds a prominent position in this market and captures a substantial share of the region. The market is characterized by increased demand for pharmaceutical applications, which will consequently drive the consumption of zinc sulfate in the area.

Europe is set to experience consistent growth due to the wide use of products in various industries, such as agrochemicals and chemical synthesis. Germany, Italy, and France are the primary contributors to the growth of the zinc sulfate market in Europe.

Market expansion in Latin America is driven by surging product adoption in the pharmaceutical and synthetic fiber industries. Increased usage of these products in Brazil, Argentina, and Mexico is also fueling market expansion in the region.

The market for zinc sulphate in the Middle East & Africa is set to register substantial growth during the forecast period. This growth is due to the region's increasing chemical and water treatment activities, which have led to a surge in demand for zinc sulphate industries.

KEY INDUSTRY PLAYERS

Top Companies Implement Product Improvement and Capacity Growth Tactics to Uphold Market Supremacy

The competitive landscape represents a combined and dynamic market. Leading companies are highly investing in creating improved technologies to boost product efficacy. They are introducing advanced technologies to foster market expansion. Top participants concentrate on expansion and acquisition strategies to fuel their market revenues.

List of Top Zinc Sulphate Companies:

• Balaji Chemicals (India)


• Changsha Haolin Chemicals Co., Ltd. (China)


• Bohigh Group (China)


• Old Bridge Minerals Inc. (U.S)


• Rongqing Chemical Co. Ltd (China)


• Clean Agro (India)


• Oasis Fine Chem (India)


• FUJI KASEI CO., LTD. (Japan)


• GRILLO-Werke AG (Germany)


• Prakash Chemicals (India)

KEY INDUSTRY DEVELOPMENTS:

• March 2023 – Nevada Zinc Corporation announced the successful manufacturing of high-quality zinc sulfate monohydrate from its pilot plant project. The company's zinc sulfate production effort began in March 2021, initially as a small-scale trial.


• January 2020 – American Regent released Zinc Sulfate Injection, a trace element used as a zinc source for parenteral nutrition in adult and pediatric patients when oral or enteral nutrition is not feasible, inadequate, or contraindicated.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, types, and top applications. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation