Market Overview
The global zinc oxide market size was valued at USD 4.10 billion in 2018 and is projected to reach USD 6.36 billion by 2026, exhibiting a CAGR of 5.7% during the forecast period.
This information is stated by Fortune Business Insights, in its report, titled, “Zinc Oxide Market, 2019-2026.”
The development in the global market is fueled by the growing usage of zinc oxide in several applications including, rubber, ceramics and cosmetics. Additional, research & developments of ZnO nanoparticles and their implementation in numerous applications are the features playing a vital role in the market.
Report Coverage
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur zinc oxide market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for zinc oxide in the near future.
Segmentation
French / Indirect Process to Lead During Forecast Period
The market is segmented into French/indirect process, American / direct process, wet process, and others. Amongst these, the French/indirect process is the leading segment.
Standard Grade to Generate the Highest Revenue
Based on the grades, the market is categorized into standard, chemical, pharma, food, and others. The standard grade accounted for the highest zinc oxide market share. It has purity between 99 to 99.5% and particularly used in rubber and ceramic applications.
Rubber Application to be a Leading Segment during the Forecast Period
Based on the application, the market is segmented into rubber, ceramic, chemical, agriculture, paints & coatings, cosmetics & pharmaceuticals, and others. The rubber application is the leading segment in the market.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Driving Factors
Increasing Adoption of Zinc Oxide in Rubber Production to Surge Demand
Zinc oxide is used as an effectual activator that escalates the rate of rubber vulcanization. Every year, over 65% of rubber is consumed for the production of road tires and automotive interiors such as airbags, radiator seals, and ventilation flaps. It offers effective gelation to foam, high heat resistance, and UV rays’ absorption properties. These properties have enhanced the demand for ZnO powder from the rubber industry. The growing need for rubber from the automotive industry for the manufacturing of tires and other rubber products has led to the demand.
Source: https://www.fortunebusinessinsights.com/zinc-oxide-market-102480
Regional Insights
Asia Pacific to Hold Dominance during Forecast Period
Asia Pacific holds the highest revenue share of the zinc oxide market in which some Southeast Asian countries including India and China are the leading contributors. The development in this region is attributed to the increasing demand in rubber applications.
In Europe, Germany is the biggest contributor to the zinc oxide market. The growing demand for ZnO from the ceramic and rubber applications supplements to the growth in this region. Zinc oxide is used as an additive in ceramic and rubber applications.
North America is estimated to witness relatively sluggish growth in the market during the forecast period, due to the decreasing rubber production in the region.
Competitive Landscape
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Industry Development
July 2019: Vizor LLC presented two next-generation sunscreen ingredients Super Zinc 1000 and Zinc Natural, with the support of surface modification technology. These products can provide improved performance in comparison with conventional ZnO ingredients and offer greater SPF values with a trivial quantity of material.
List of Key Players Covered in the Report
Spirochem Lifesciences Private Limited
Cosmo Zincox Industries
UCA Lanka Pvt. Ltd
Rubamin
S. Zinc
Hemadri Chemicals
Zochem
Lanxess
EverZinc
Parchem fine & specialty chemicals
Brüggemann
Suraj Udyog
J G Chemicals Private Limited
KVB Processors Pvt. Ltd