Zinc Chloride Market is Expected to Increase at a CAGR of 4.6 % During the Forecast Period 2018 - 2028

VALLEY COTTAGE, New York, August 6, 2018 /PRNewswire/ --

Future Market Insights delivers key insights on the global zinc chloride market in its latest report titled 'Zinc Chloride market: Global Industry Analysis 2013-2017 and Opportunity Assessment, 2018-2028.' The long-term outlook of the global zinc chloride market remains positive and its market value is expected to increase at a CAGR of 4.6 % during the forecast period (2018 - 2028). On the basis of grade type, the global zinc chloride market is dominated by the high purity grade segment, which accounts for ~43.6% of the global zinc chloride demand. The segment is estimated register a moderate CAGR over the forecast period and the demand for the segment is mostly driven by the chemical industry. Battery grade zinc chloride is widely used in the manufacturing of dry cell batteries. Technical grade and commercial grade zinc chloride segments are projected to witness high acceptability and growth rates in the latter half of the forecast period as these grades are used in electronic and other industrial applications. Global sales of zinc chloride is valued at US$ 270.9 Mn by the end of 2018 - witnessing Y-o-Y growth of 4.6% over 2017. China accounts for a value share of ~21.9% of the global zinc chloride market in 2018 end and it is anticipated to register significant demand for zinc chloride from chemical and agriculture industries.

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Zinc chloride or ZnCl2 is a deliquescent salt, which is white in color and forms acidic solutions in polar organic solvents such as ether, acetone, water and ethanol. Zinc chloride is hygroscopic in nature and thus, must be kept away from water vapors and moisture sources. By adding zinc chloride and acetone, a neutral solution of zinc chloride is prepared.

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Increasing demand for zinc chloride from chemical and textile industries can be attributed to the growth in usage in these industries. Other than this, zinc chloride also finds a number of other applications in various end-use industries such as in galvanizing, tinning of fluxes and soldering. It can also be used as an odor controller, due to which its demand is increasing in the market. The reaction of sulfide with zinc chloride minimizes the release of H2S gas in waste water treatment facilities, thereby aiding in odor control. Zinc chloride is used in the rubber industry for the vulcanization of rubber. That apart, dissolution of cellulosic fibers in scrap is done with the help of zinc chloride. Zinc chloride is also used for various other applications such as textile finishing, liquid fertilizers, organic synthesis, dry cell batteries and wood preservatives, among others.