In the first quarter of 2023, the zinc chloride market in Asia experienced a notable resurgence as manufacturing activities bounced back after a period of COVID-19 restrictions and the Chinese holiday season. This revival, coupled with robust performances in the food and beverage, nutraceuticals, and pharmaceutical industries, drove zinc chloride prices upwards. However, the second quarter introduced volatility and consistent price declines as downstream industries faced significant sales contractions, and China’s export rates plummeted, contributing to an overall price decline.
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Meanwhile, in Europe, the first quarter witnessed a substantial increase in zinc chloride prices due to a surge in domestic and international orders, although the rate of increase slowed due to lower demand from downstream industries and an oversupply. Negative factors included declining natural gas prices, rising unemployment, and reduced profit margins for traders.
In North America, price increases during the first quarter were linked to the growth of pharmaceutical and nutraceutical industries. While the second quarter initially maintained price increases, the slow economic recovery following the downfall of two major banks impacted end-user industries, and inflationary pressures led to a significant drop in trading activities, pushing zinc chloride prices downward.
Definition
Zinc chloride, a chemical compound with the formula ZnCl2, is a white crystalline substance known for its versatile chemical properties. It is highly soluble in water and has a wide range of applications. Zinc chloride is hygroscopic, meaning it readily absorbs moisture from the air. This compound serves as a Lewis acid, facilitating various chemical reactions. It finds use in soldering fluxes, galvanizing, and as a wood preservative. In organic synthesis, it acts as a catalyst and dehydrating agent. Additionally, zinc chloride is employed in the textile and paper industries for mercerization and in oil and gas exploration as a drilling fluid additive.
Key Details About the Zinc chloride Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Zinc chloride in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Zinc chloride Price chart, including India Zinc chloride price, USA Zinc chloride price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Zinc chloride Price Trend:
Zinc chloride, a versatile compound, finds numerous industrial applications across various sectors. In the metallurgical industry, it plays a crucial role as a flux for soldering and galvanizing processes, facilitating the joining of metals, and preventing corrosion, respectively. In the chemical industry, it acts as a Lewis acid catalyst, aiding in chemical reactions and promoting the formation of new compounds. Furthermore, zinc chloride is utilized as a wood preservative, enhancing the durability of timber products. In organic synthesis, it serves as a dehydrating agent, promoting the removal of water from organic compounds. The textile and paper industries benefit from zinc chloride in mercerization, a process that enhances the strength and luster of cellulose-based materials. Additionally, it has applications in the oil and gas sector as a drilling fluid additive to control fluid loss and stabilize boreholes during exploration and extraction processes. These diverse industrial uses highlight the significance of zinc chloride in numerous manufacturing and production processes.
Key Players:
- Zaclon LLC
- Costal Zinc Group
- Jinzhou Jitian Zinc Industry Co Ltd
- HaloPolymer OJSC
- Tianjin Nanping Chemical Co Ltd
- TIB Chemicals
- Flaurea Chemicals
- Sigma Chemical Industries
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