Zinc acetate market is expected to experience a significant boom during the period 2021 to 2027 owing to the increasing prevalence of common cold. It has been estimated that people across the U.S. suffer 1 billion colds, during a year. Higher adoption in medical preparations and chemical synthesis along with rising utility as breath fresheners in chewing gums are other promising drivers for the market growth.
With regards to products, the zinc acetate market is classified across powder, flakes, and plates. Out of these, zinc acetate powder will observe higher consumption on account of its very good solubility. Owing to this, the product is excessively adopted in plastics production, wood processing, and adhesives. Rising penetration in food additives will act as an ideal driver for industry growth.
Application-wise, the zinc acetate industry size from the pharmaceutical applications will expand at a prolific rate owing to the increasing preference for topical antipruritic ointments. The product is widely used in gels, lotions, and antibiotics. It is also used to treat acne. The growing need for anti-itching solutions as well as oral daily supplements to tend to Wilson’s disease will positively contribute to the industry application outlook.
Based on end-use, the demand for zinc acetate across the industrial sector is anticipated to grow exponentially through 2027. This is mainly ascribing to the higher product adoption in coffee, tea, cigarettes glues, nail polish removers and in wood preservatives. Increasing penetration in the manufacturing of ethyl acetate is expected to boost the market share for zinc acetate.
The health sector is anticipated to record significant gains for the zinc acetate industry due to the increasing prevalence of zinc and nutritional deficiencies. The rising instances of hair loss, as well as eye and skin conditions along with the surging requirement for the proper growth of body tissues, will add to the market progression.
Regionally, Asia Pacific zinc acetate industry is likely to gain notable proceeds on account of the booming pharmaceutical and medical sectors. The rising health consciousness of the regional consumers has paved the way for the inclining consumption of dietary supplements.
The Zinc acetate market is characterized by the presence of major players, that include Niacet Corporation, Axiom Chemicals, Global Medicines Limited, New Alliance Dye Chem Private Limited, TIB Chemicals AG, Vasa Pharmachem, Boston BioProducts, Inc., Krishna Chemicals, Alpha Chemika, Noah Technologies Corporation, Aldon Corporation, Mayschem, Lianyungang Tongyuan Chemical Industry, ProChem International, GFS Chemicals, Powder Pack Chem, Viachem, and Global Calcium.
These chemical entities are constantly incorporating inorganic and partnership-oriented strategies, such as mergers, partnerships, acquisitions, along with new product developments, when possible, in order to enhance their offerings whilst multiplying their revenue sales.
For instance, in July 2019, Amsyn, LLC, was acquired by Maroon Group LLC, a leading specialty chemical distributor in a bid to render innovative solutions to customers in catering to their complex problems.
In another instance, in July 2021, Ikoma Fine Chemicals Co., Ltd. inked a product promotion partnership with Japan-based BuyChemJapan Corporation in order to promote its zinc acetate dihydrate, calcium acetate monohydrate, and potassium hydrogen sulfate business.
The COVID-19 pandemic contributed to turbulence in the global economy while giving rise to severe setbacks on the operations and sales of a host of industries in most parts of the world. The zinc acetate market also saw a relatively plummeted demand across the industrial landscape. However, the product registered notable adoption to tend to the rising infection rate in order to cater to the rising zinc deficiencies in the affected individuals.