Zinc Carbonate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1577
Global Zinc Carbonate Market Size will grow at a steady rate from 2017 to 2024 led by the cosmetic, chemical fertilizer and rubber industry. The product is well known as smithsonite or zinc spar and are basically the mineral ore of zinc. It is an odorless compound, insoluble in water and soluble in dilute acids.
Zinc carbonate market is primarily boosted by the cosmetic industry. The cosmetic industry round the globe is growing at a significant rate and was valued at over USD 330 billion in 2016. Rising standard of living of people, increasing disposable income, purchasing power parity and growing importance of grooming are some of the factors driving the cosmetic industry. These factors are in turn driving the global zinc carbonate market largely.
Use of chemical fertilizers for land productivity is rising the zinc carbonate market demand worldwide. In the Asia Pacific region, use of chemical fertilizers is huge owing to its low cost and easy availability. Farmers in these regions prefer chemical fertilizers over other organic ones due to unawareness of organic benefits. This in turn is propelling the chemical fertilizers demand in this region. The product also finds its use in natural rubber as a transparency activator. These are some of the major factors driving the zinc carbonate market demand.
Due to its slightly hazardous nature, eye or skin contact with the product causes irritation. Also, if consumed or inhaled it may lead to respiratory tract infection and irritation as well as indigestion. Apart from health hazards, the product also has environmental hazards as it may cause potential fire or explosion if zinc carbonate is exposed to source of ignition such as open flames. These can be treated as some of the zinc carbonate market restraints.
Based on the application, the global zinc carbonate market is segmented into feed additive, cosmetics, personal care, lotions, chemical fertilizers, pottery, rubber related products and porcelains to mention some. In cosmetics, it is used in bath, make up, personal cleanliness, shaving, oral care and skin & hair care products. The product is also used along with other chemical processes in transparent rubber mixtures and as a curing agent in rubber compounds.
The product is also used as a fire proofing filler for plastic and rubber compositions that are exposed to flame temperature. Growth in rubber products industry in near future will create further opportunities for the global zinc carbonate market demand in the forecast period. Apart from these, the properties of zinc carbonate such as antiseptic and fungicide has led to its use in personal care and household products as well. Moreover, the product is also used in the petroleum industry as a sulfur absorber on a large scale.
Considering the geographic standpoint, Asia Pacific is said to be the largest market in terms of growth in the next few years. This is due to a high demand for cosmetics and rubber products in major countries such as India and China. This is as a result of changing lifestyles in these regions, rapid urbanization, rise in the disposable income of people and change in the standard of living. India is one of the largest producer in zinc carbonate market with a production capacity of over 30,000 tons per annum. These are the major factors driving up the zinc carbonate market demand in this region. Prominent manufacturers are expanding and establishing manufacturing facilities in these countries to yield from the domestic demand. Due to industrial growth and development, new factories are setting up in the regions of Latin America and Middle East & Africa. These factories include that of chemicals, and rubber which in turn will further propel the zinc carbonate market in the coming years.
Prominent players operating in the global zinc carbonate market include Seido Chemical Industry, Vijaychem Industries, M-I Swaco a Schlumberger, Chengdu XiYa Chemical Technology, VWR International, LLC, Bruggemann Chemical, Rubamin, Global Chemical, Alfa Aesar, Yanggu Zhongtian Zinc Industrial, Spectrum China, Sigma-Aldrich, American Elements, Transpek-Silox, Ravi Chem Industries, Ava Chemicals and New Alliance Dye Chem to name some.
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