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High Demand For Zinc Sulphate Monohydrate In North America Owing To Its Extensive Use In Pharmaceuticals: Report Fact MR
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Zinc Sulphate Market Insights by Fact.MR Forecast 2020 to 2030
factmrJune 29, 2021 3
The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
With the vaccination process picking up pace in countries like China, India, the U.S., the U.K., and Germany, manufacturers are gradually heading towards the road to recovery with an improved supply chain and streamlined production activities.
A recent study by Fact.MR on the zinc sulphate market offers a 10-year forecast for 2020 to 2030. The study analyzes crucial trends that are currently determining the growth of market.
The
global zinc sulphate market size is anticipated to register a significant CAGR of over 5% over the forecast period 2021 to 2027. The increasing demand for agrochemicals across the globe is a primary factor to drive market growth. Furthermore, the increasing demand for animal feed supplement is another factor to drive the market. Moreover, the rising demand for pharmaceuticals is expected to propel the market over the forecast period.
On the basis of type, the market is further classified into zinc sulphate anhydrous, zinc sulphate hexahydrate, zinc sulphate heptahydrate, and zinc sulphate monohydrate. The zinc sulphate monohydrate segment held the largest market share and accounted to grow at the same trend over the forecast period. The segment growth is attributed to the increasing demand for zinc sulphate monohydrate in agrochemicals and fertilizer around the world.
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