Global Zinc Chemicals Market 2019-2023 | Increasing Use in Semiconductor Industry to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 11, 2019--
The global zinc chemicals market is expected to post a CAGR of nearly 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global zinc chemicals market 2019-2023. (Graphic: Business Wire)
Zinc sulfate is one of the widely used chemicals in the food and medical industries. In the food industry, it is used as a food supplement and as an animal feed. In the medical industry, it is used to treat zinc deficiency and improve oral rehydration during diarrhea. Zinc sulfate is also regarded as the first-line therapy in presymptomatic patients and pregnant women. The increasing use of zinc sulfate in many such applications in the food and medical industries is one of the key factors driving the growth of the market.
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As per Technavio, the increasing use in the semiconductor industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Zinc Chemicals Market: Increasing Use in Semiconductor Industry
Zinc oxide is widely used in the production of varistors, ferrites, and solar cells in the semiconductor industry. It is also an essential ingredient in soft-type ferromagnetic materials that are used in television, radio, and telecommunication devices. As the global sale of semiconductors is anticipated to increase during the forecast period, the demand for zinc oxide is also expected to increase globally.
“The rise in demand for nano zinc oxide and upgradation of zinc ore production capacity are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Zinc Chemicals Market: Segmentation Analysis
This market report segments the global zinc chemicals market by type (zinc oxide, zinc sulfate, zinc carbonate, zinc chloride, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, South America, North America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increasing demand for zinc oxide from various end-user industries such as the pharmaceuticals, food packaging, and automotive..
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Some of the key topics covered in the report include:
Five Forces Analysis
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PUB: 11/11/2019 02:00 PM/DISC: 11/11/2019 02:01 PM