Market Research Report
Zinc Acetate Market by Form (Dihydrate and Anhydrous) and Application (Dietary & Medicine, Analytical Reagent, Wood Preservative, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
|Zinc Acetate Market by Form (Dihydrate and Anhydrous) and Application (Dietary & Medicine, Analytical Reagent, Wood Preservative, Chemical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: January 19, 2022
Allied Market Research
Content info: 310 Pages
Delivery time: 2-3 business days
The global zinc acetate market was valued at $138.3 million in 2020, and is projected to reach $229.0 million by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Zinc acetate is a zinc salt of acetic acid produced in two forms, dihydrate and anhydrous. Dihydrate form contains water molecules, whereas anhydrous form does not contain any water molecule. The primary use of zinc acetate is in medicines and supplements. Zinc supplements are essential for the synthesis of cholesterol, protein, and fats in human body. Zinc acetate is added into animal feed to increase a cattle's zinc intake. Apart from an ingredient, zin acetate is used in wood preservative chemicals that are applied on wood to prolong its life and quality. Wood preservative chemicals protect the wood from fungus, termites, and mold attacks.
Changes in lifestyle and dietary habits has led to insufficient intake of zinc that can cause various health issues. As a result, a growing number of population will be forced to use zinc supplements, thus driving the global demand for zinc acetate in the form of tablets, capsules, and lozenges. Zinc acetate is further added in anti-acne creams and ointments. In recent years, the demand for cosmetic products and over-the-counter topical products has increased significantly, thus driving the consumption of zinc acetate among other astringents. Similarly, the demand for nutritional products is on rise, and is expected to grow during the forecast period. Zinc acetate has an important role in the global animal feed industry. Zinc acetate is considered to be a palatable source of zinc to all animals. Acetate is a direct source of energy for animals, and is used in the milkfat synthesis in dairy cows. Thus, the expansion of the animal feed market is conducive for the global zinc acetate market. In addition, the use of wood preservative chemicals in commercial, residential, and industrial applications on a large scale is expected to offer remunerative opportunities for the expansion of the global zinc acetate market. On the contrary, the availability of other zinc-based alternatives acts as a restraint in the global zinc acetate market growth. There are various zinc-based chemicals that serve the same purpose as zinc acetate, including zinc gluconate, sulfate, picolinate, orotate, and citrate. Zinc gluconate is the most widely available and cost-effective form of zinc. Zinc oxide can be used as a source of zinc as a trace element for livestock. Similar to zinc acetate, zinc sulfate has been shown to reduce the severity of acne. Therefore, the availability of substitutes will limit the growth of the global zinc acetate market during the forecast period. Apart from dietary, animal feed, supplements, and wood preservation, the growth of the global zinc acetate market will be driven by other applications such as analytical reagents and chemical.
The global zinc acetate market is segmented into form, application, and region. On the basis of form, the global zinc acetate market is bifurcated into dihydrate and anhydrous. Applications of zinc acetate include dietary & medicine, analytical reagent, wood preservative, chemical, and others. Region wise, the global zinc acetate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The key players engaged in the production of zinc acetate are Celtic Chemicals, Fengchen Group Co. Ltd., GFS Chemicals Inc., Jost Chemical Co., Kerry Group Plc, Merck KGaA, Thermo Fisher Scientific, TIB Chemicals AG, FUJIFILM Corporation, and Spectrum Chemical.
Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and future estimations of the market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
The profiles of key players and their key strategic developments are enlisted in the report.