Asia
During the first quarter of 2024, zinc nitrate prices in Asia experienced a downward trend. This was primarily driven by an increase in zinc production, which led to an oversupply situation. Globally, zinc output rose, with Chinese production expected to increase significantly by the following year. Despite various factors influencing zinc nitrate prices, the oversupply condition remained the dominant force.
The Indian market also faced challenges, with a significant depreciation in zinc prices the previous year and major producers like Hindustan Zinc reporting consecutive declines in profits. The imbalance between supply and demand, escalated by weak downstream demand from the construction and automotive sectors in China and high inventory levels, applied consistent downward pressure on zinc nitrate prices. The sluggish economic recovery in China post-COVID further contributed to this trend.
Europe
In Europe, the zinc nitrate market mirrored the global sluggishness, although there was a brief uptick in prices in January when Nyrstar, a significant zinc producer, halted production, constricting the functioning of its supply chains. This maintenance shutdown, attributed to high energy costs and weak market conditions, created a temporary supply gap, offering a slight boost to prices. However, this was short-lived as the demand deficit quickly reasserted itself, causing prices to decline again amidst ongoing supply chain challenges and weak market conditions.
North America
The North American zinc nitrate market faced similar difficulties as its Asian and European counterparts. Prices struggled due to subdued demand and high inventory levels. Despite rising energy and processing costs, the significant demand deficit overshadowed these factors, leading to a declining price trend. Additionally, the international market performance was equally disappointing, contributing to the overall weak performance of zinc nitrate in the region during this period.
Analyst Insight
According to Procurement Resource, the price trend of Zinc Nitrate is expected to continue its sluggish growth in the next quarter as well as the downstream and even the feedstock sectors do not seem likely to support any positive market trend.
Procurement Resource provides latest prices of Zinc Nitrate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
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Zinc nitrate, a colorless crystalline solid with the chemical formula Zn(NO3)2, is highly soluble in water and alcohol. It typically exists in hydrated forms, with hexahydrate being the most common. This compound is a strong oxidizing agent and is often used in chemical synthesis, electroplating, textile dyeing, and as a laboratory reagent. In addition, it plays a role in corrosion inhibitors and the manufacture of explosives and pyrotechnics. Zinc nitrate is valued for its ability to provide a readily available source of zinc ions in various industrial and chemical processes.
Zn(NO3)2
Chemical Synthesis, Electroplating, Textiles, Corrosion Inhibition
Noah Technologies, Mistral Industrial Chemicals, Shri Ram Agro Chemicals, Akash Purochem, G.G Manufacturers
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Udeesha Tomar
AVP - Strategy and Solutions
Leading procurement research solutions across chemicals, materials, and food & beverages, with expertise in price forecasting and market analytics.
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