ZINC CARBONATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Smithsonite or commonly known as zinc carbonate is a zinc mineral ore used to extract zinc metal. Zinc carbonate comes in a white powder with no taste and odor. It is insoluble in water and alcohol, however, it is partly soluble in ammonia and can dissolve fully in sodium hydroxide and acid. Zinc carbonate has applications in various industries such as lotions, feed additives in cosmetics, pottery, household, personal care, rubber, porcelain. Zinc carbonate is a crucial material for translucent rubber mixtures coupled with other chemical procedures. Moreover, zinc carbonate offers antiseptic and fungicide properties in household and personal care. Furthermore, it is used chemical fertilizer and petroleum industry as the key material of catalyst and desulfurizer. It is also used as an accelerator activator for the translucent and pigmented rubber material.

Market Outlook

Global zinc carbonate market size is expected to increase significantly, owing to increasing demand for zinc carbonate from various industries during the forecast period. Growing use of zinc carbonate in the cosmetic industry is expected to impel the market growth. The cosmetic industry is growing at significant rate and was valued at over US$ 330.05 billion in 2016. Increasing the disposable income of population around the globe and rising importance of grooming is expected to boost the market growth in the near future. Furthermore, zinc carbonate is widely used in the chemical fertilizer industry. Farmers are opting for chemical fertilizers to gain better crop yield, which is expected to increase the demand for zinc carbonate and thereby, drive growth of the market. Moreover, increasing use of zinc carbonate in rubber industry is likely to propel the market growth during the forecast period. Zinc carbonate is used in chemical process in transparent rubber mixtures, which is expected to boost growth of the market.

However, zinc carbonate causes irritation to eye or skin if it comes in contact. Moreover, if it is inhaled it may lead to irritation and respiratory tract infection. Such hazardous nature is likely to hinder the demand for zinc carbonate and subsequently restrain the global zinc carbonate market growth.

Market Regional Analysis

Asia Pacific is expected to hold significant market share in the global zinc carbonate market, owing to increasing demand from emerging economies in the region. Growing cosmetic and rubber industries in India and China are expected to increase the demand for zinc carbonate and thereby aid in the market growth. Moreover, higher presence of major key players in Europe and North America is expected to boost the market growth in respective regions.

Market Players

Key players operating in the global zinc carbonate market include M-I Swaco a Schlumberger company, Global Chemical Co., Chengdu XiYa Chemical Technology Co., Ltd., Alfa Aesar, Bruggemann Chemical, LLC, Spectrum China Ltd., Yanggu Zhongtian Zinc Industrial Co., Ltd., Ltd., VWR International, and HBCChem, Inc.

Key Developments

Key players are adopting in-organic growth strategies such as capacity expansion, new product launches in order to expand its product portfolio in the market. For instance, in 2018, Rinka Resources Limited Company expanded its zinc mineralization and discovers high-grade silver veins at Ayawilca Peru which including results for ten recent drill holes. Out of which three holes were drilled to test outcropping silver-lead-zinc carbonate veins at the Vetas area.