According to a recent report by Reports and Data, the global Zinc Sulphate Market had a size of USD 1,739.6 million in 2021 and is projected to have a revenue compound annual growth rate (CAGR) of 7.3% during the forecast period. The increasing use of zinc for medicines, dietary supplements, and parenting nutrition, along with growing demand from the pharmaceutical industry, are the main drivers behind the market's revenue growth.
Zinc sulfate is a commonly used ingredient in cosmetics and personal care products due to its antimicrobial and antibacterial properties. It serves as a biocide in cosmetics, oral hygiene products, and astringents, and has numerous uses in cosmetic products, such as skin cleansing and deodorizing by limiting microbial growth.
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The market's revenue growth is also driven by the increasing consumption of cosmetics among millennials, as well as the expanding use of Zinc Sulphate Market in a wide range of industrial and agrochemicals applications, including corrosion inhibitors in water treatment systems, herbicide treatment, flotation in the mining industry, and the production of pigments and adhesives, detergents, deodorants, and various cosmetics.
Based on regional analysis, the North American market has the largest share of sales in 2021. The region is a significant source of zinc consumption due to the widespread consumption of beef and breakfast cereals, which are often fortified with the mineral. Additionally, zinc sulfate is widely used in hospitals, and its use as an adjunct to hydroxychloroquine and azithromycin has shown promise in treating COVID-19.
Piramal Pharma's Critical Care division launched Zinc Sulfate Injection as the first generic on the market in the United States in August 2022. The U.S. Food and Drug Administration has licensed the drug under the Competing Generic Therapy (CGT) indication, an approval pathway designed to increase competition in the pharmaceutical market with a sole source of supply.
Zinc Sulfate Market: Notable Innovation
As of my last knowledge update in September 2021, I don't have access to real-time data or events occurring after that date. Therefore, I cannot provide you with information about any recent notable innovations in the Zinc Sulphate Market that may have occurred after that time.
However, I can tell you that innovations in the zinc sulfate market could pertain to various aspects, such as production processes, applications, product formulations, or even sustainability initiatives. Zinc sulfate is commonly used in agriculture as a fertilizer and in various industries, including pharmaceuticals, chemicals, and animal feed. Innovations in these sectors might involve improved methods of production, new applications, enhanced product formulations, or more environmentally friendly manufacturing processes.
The market report profiles companies such as Shanghai Danfan Network Science&Technology Co., Ltd., Alpha Chemicals Private Limited, Balaji Industries, Mid-South Chemical, Old Bridge Chemicals, Inc., Tianjin Xinxin Chemical Factory, Clean Agro, Oasis Fine Chem, Redox, and Merck KGaA.
The global zinc sulfate industry has been segmented by Reports and Data into Type Outlook, Form Outlook, Application Outlook, End-Use Outlook, and Region. Type Outlook includes Zinc Sulfate Heptahydrous, Zinc Sulfate Anhydrous, Zinc Sulfate Hexahydrous, and Others. Form Outlook includes Anhydrous Solid, Liquid, and Powder. Application Outlook includes Agrochemicals, Synthetic Fibers, Pharmaceuticals, and Others. End-Use Outlook includes Agriculture, Healthcare, Chemical Processing, Fiber & Textile Industry, and Others. Regional Outlook includes North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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