Zinc Sulphate Market will likely witness a compound annual growth rate of 6.4% and reach its peak by 2034.
Zinc Sulphate Market Set for Robust Growth, Led by Asia Pacific
The global Zinc Sulphate Market is on a growth trajectory, projected to expand from USD 1.7 billion in 2024 to an impressive USD 3.2 billion by 2034. This growth is expected at a compound annual growth rate (CAGR) of 6.4% over this period, according to industry reports [1].
The Asia Pacific (APAC) region is the key driver of this growth, accounting for approximately 47.3% of the market share in 2024, generating around USD 0.8 billion in revenue. The APAC market's growth is supported by increasing agricultural activities, rising demand for micronutrient-rich fertilizers to improve crop yield and soil health, and industrial production efficiencies, especially in countries like India and China [1].
The agricultural sector, expected to reach USD 24 billion by 2025, is a major driver of zinc sulphate demand. In 2024, agriculture dominated the global zinc sulphate market, accounting for a 44.9% share by end-use. The Micronutrient segment, in particular, dominated the market, contributing over 41.2% of the total market share.
India, with its low per capita zinc consumption compared to global averages, shows significant growth potential due to its expanding domestic market. The country's zinc industry is witnessing robust growth due to rising demand across multiple sectors.
Monohydrate Zinc Sulphate commands a leading 47.8% share of the global zinc sulphate market by type in 2024. Key players in the market, such as Hindustan Zinc Limited, operate advanced smelters using technologies like Roast Leach Electro-winning (RLE) and Ausmelt.
Zinc sulphate concentrates (ZSC) are critical across industries such as agriculture, pharmaceuticals, water treatment, and chemical manufacturing. These concentrates play a crucial role in enhancing crop yield, ensuring water quality, and supporting various chemical processes.
While other regions like North America, Europe, Latin America, and the Middle East & Africa also contribute to market expansion, the dominance and rapid development in APAC stand out as the primary growth driver for zinc sulphate demand globally.
In summary, the Zinc Sulphate Market is poised for robust growth, driven primarily by agricultural and industrial demand in the Asia Pacific region. The region's extensive agricultural operations and widespread zinc-deficient soils make it an ideal market for zinc sulphate products.
- The growth of the Zinc Sulphate Market in the Asia Pacific region, particularly due to increasing agricultural activities and industrial production efficiencies, is expected to stimulate finance flows into the agriculture sector, reaching USD 24 billion by 2025.
- The pharmaceutical industry, which uses Zinc Sulphate concentrates for ensuring water quality and supporting various chemical processes, may witness significant financial benefits from the robust growth of the global Zinc Sulphate Market, driven primarily by the Asia Pacific region.
