Sales Revenue in the Zinc Chloride Market to Register a Stellar CAGR During 2018 - 2028
Verfasser: yogesh on Thursday, 4 April 2019Worldwide demand for zinc chloride is expected to grow rapidly, owing to its wide application in manufacturing batteries, increasing use as coagulant in textile dyes and treating dry sludge generation, and increasing use of zinc chloride as catalyst in various industries. The zinc chloride market is projected to reach US$ 426.4 million by the end of 2028, according to the latest report published by Persistence Market Research (PMR).
The demand for battery grade zinc chloride is growing owing to its increasing use in the manufacturing of batteries used in electronics and automotive industry. Zinc chloride batteries are emerging as one of the most promising systems for medium to large energy storage application owing to the benefits in terms of energy density, cell voltage, and cost. The shift in the automotive industry from zinc carbon batteries to zinc chloride batteries is also creating opportunities for manufacturers in the zinc chloride market.
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Manufacturers are developing zinc chloride batteries on a large scale as it is inexpensive to produce, thereby, making it most affordable batteries in the market, finds PMR analysis.