Market Insights
The zinc oxide market size was estimated at USD 4.87 billion in 2021 and is likely to grow at a CAGR of 6.84% during 2022-2028 to reach USD 7.75 billion in 2028.
What is zinc oxide?
ZnO stands for Zinc oxide. It is an insoluble and inorganic compound used as an additive in various products such as cosmetic creams, rubber, paints, ceramics, foods, lubricants, batteries, plastics, medical, and others. This also plays a pivotal role in obstructing harmful rays.
Market Dynamics
The growth of the zinc oxide market is primarily driven by-
- High production of smart devices in the electronic industry,
- A rise in demand for cosmetic products.
Further, the growing production and sales of automobiles, which are boosting the demand for tires, are expected to fuel the demand for rubber vulcanization – a process in which zinc oxide is used for vulcanizing rubber to manufacture tires.
Segments Analysis
The market is segmented as agriculture, ceramics, rubber, chemicals, pharmaceuticals, cosmetics & personal care, and others. The rubber segment accounted for the largest market share of more than 40% in 2021 and is projected to register significant growth during the review period. The growth of the segment is owing to the durability of ZnO, which is used for the vulcanization of rubber, used to manufacture tires.
The market is segmented into wet-chemical, American, and French processes. The french process segment accounted for the largest market share of more than 81% in 2021 and is projected to register significant growth during the forecast period as Zinc produced by using this process is very fine in size and possesses good dispersion and slow settling rates.
Asia-Pacific accounted for the largest market share of 30% in 2021, as well as the fastest-growing market for ZnO during the forecast period, with China and India, being the major countries with lucrative growth opportunities. One of the major driving factors is the rapid growth of the personal care products and cosmetics market in the region, with China being the largest exporter of ZnO.
Prominent players
Some of the major players operating in the Zinc Oxide market are-
- Zochem Inc.
- EverZinc Belgium SA
- ZM Silesia SA.
- Akrochem Corporation
- J. G. Chemicals Pvt. Ltd.
- Pan-Continental Chemical Co Ltd.
- Umicore SA
- Rubamin Limited
- Showa Denko KK
- Advanced Nano Technologies Ltd.
Analysis of regional growth patterns:
Several major regions have been examined to understand the development and demand patterns for this market. It analyses factors affecting the market both before and after COVID-19, in depth.
The report comes with –
• An in-depth evaluation of COVID-19’s outlook on the Zinc Oxide Market.
• A glimpse of top market players’ strategies and ideas to ensure their survival and growth in the market.
• An assessment of trends, CAGRs, yearly estimations, and growth rates.
• Identification of possible threats, challenges that could halt the market’s growth.
• Total market shares of top vendors.
Customisation of this study-
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