The Key Driving Factors Of The Market Are In Rising Demand For Zinc Oxide In Rubber Production, Further, Increasing Demand In Ceramics and The Personal and Cosmetic Industry Will Boost The Market Growth Over The Forecast Period.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors in the global Zinc Oxide market. In addition incomplete analysis of changes on the global Zinc Oxide market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. COVID 19 has disrupted production and supply chain due to restrictions imposed by the government. Many manufacturing plants were shut down and production has halted because of the lockdown and inactive transportation. These factors have made a huge impact on the global zinc oxide market. Despite the negative effect during the COVID 19 period. The global zinc oxide market blooming post COVID owing to the increasing demand in the automotive, rubber, and personal care markets.
Zinc Oxide is a white water-insoluble powder that can be used in various applications. Zinc oxide is found naturally in the mineral zincate, the majority of zinc oxide is synthesized. A few applications of zinc oxides such as cosmetics, food supplements, ointments, adhesives, sealants, rubbers, plastics, ceramics, glass, cement, lubricants, paints, pigments, foods, batteries, ferrites, fire retardants, and first-aid tapes. The poisonous nature of zinc oxide fumes whose exposure caused fever and illness is likely to hinder the growth of the market. The increasing demand for zinc oxide in rubber, automotive, agricultural, paint, and coating industries are the main key driving points that have led to the growth of the market during the forecast period.
The global Zinc Oxide market is driven by rising demand for rubber in the automotive market. The zinc oxide can act as vulcanization in rubber production. Every year rubber is used for the production of tires and automobile interiors such as ventilation flaps, radiator seals, and airbags. The increasing demand for zinc oxide in personal care products such as sunscreens, baby lotions, powders, and other products. It is also used as a skin protectant in products including diapers and wipes. The demand for zinc oxide as a stain blocking, corrosion inhibition, color retention, and water-resistance increased in the paints and coating industries. Thus, these factors are driving the global zinc oxide market over the forecast period.
The market is expected to have a new opportunity with the development of zinc oxide nanoparticles. This zinc oxide nanoparticle has excellent biocompatibility and low toxicity. They can help to find the excess reactive oxygen species & release zinc ions. These qualities in zinc oxide nanoparticles make them emerge as a potential element in anticancer & antibacterial applications. Zinc oxide nanoparticle is being studied for cancer treatment as a biocompatible and biodegradable platform. They provide safe & effective cancer treatment. Also, they can be used in diabetes treatment. In addition to this, zinc oxide shows excellent luminescent properties which are expected to boost the demand for bioimaging. These all applications are representing to create opportunities for growth for zinc oxide production.
Zinc Oxide has shown some poisonous effects on humans. However, the toxic nature of zinc oxide caused fever, headache, chills & metallic taste in the mouth. Additionally, zinc oxide is mostly synthetic and commercially used in over-the-counter sunscreen and skin protectant products. But, the FDA has set a standard for the amount of ZnO in cosmetics and personal industries. Up to the concentrations of 25.0% are used in cosmetics products. Further, there are some strong regulations of the European Commission regarding zinc oxide use that are imposed on manufacturers. Thus, these factors are hampering market growth.
The global zinc oxide market has been facing challenges such as price fluctuation. The cost of zinc is depended upon availability and use. The regulation and Inconsistency in the prices of raw materials against the usage of the product in several end-use industries are likely to hamper the demand in the coming forecast time.
The report provides an in-depth analysis of the global Zinc Oxide market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for various Zinc Oxide in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR at specific CAGR from 2021-2028.
The global Zinc Oxide market comprises different market segments like grade, process, application, and geography.
By type, Zinc Oxide includes a key segment of
Based on grades, the standard grade accounted for the highest zinc oxide market share. The standard grade zinc oxide has purity between 99 to 99.5% which makes it ideal for use in rubber and ceramic applications. The high purity standard grades are used in rubber production in the automotive industries. Further, it is also used in ceramic Industries due to its properties such as lightweight, corrosion resistance, and high-temperature stability. Hence the growth in the rubber and ceramic industry will spur the demand for a standard grade in the forecast time.
The chemical grade is growing at a significant pace followed by the standard grade. The increasing demand in the construction and paints and coatings industry will lead to the growth of chemical grades during the forecast time.
The Zinc Oxide market includes the following processes
The Indirect process (French process) segment accounted for the largest revenue share of the global zinc oxide market. The segments will expand at a steady pace retaining their leading position over the forecast period. The indirect process is the fastest and most productive industrial method to produce zinc oxide. Hence comparing the other process, The French process is widely used for production. The wet process is estimated to grow at the fastest CAGR in terms of revenue over the forecast period due to the zinc obtained by the wet process being very fine in size and having a slow setting rate and good dispersion. Thus, this factor is attributed to the growth of the wet process over forecast time.
The Zinc Oxide market has applications such as
Based on application, rubber and tires accounted for a major market share during the forecast time. Zinc Oxide witnessed huge demand in the rubber industry. The rising use of ZnO in rubber application as a vulcanizing activator. It is also used as a curing or cross-linking agent for halogen-containing elastomers, such as neoprene or polysulfides.
The ceramics and glass segments hold the second position in market share owing to the use of zinc oxide in the ceramic due to the relatively high heat capacity, high-temperature stability, and thermal conductivity coupled with a comparatively low coefficient of expansion of zinc oxide.
The global Zinc Oxide market is studied for the following region
The Asia Pacific is estimated to lead the zinc oxide market during the forecast time. The Asia Pacific is believed to be a manufacturing hub for many end-user industries. In Asia, China is the biggest importer and exporter of zinc oxide. The presence of a large manufacturing base in the region housing several sectors, including glass, pharmaceutical, and rubber production. The increasing urbanization and an increase in average disposable income in China, India, Indonesia, and Vietnam are expected to drive the demand for consumer ceramics, paints, and coatings industries.
North America Plays a major role in the zinc oxide market due to the increasing pharmaceutical and cosmetics industries because of the rising geriatric population in the region. The U.S has shown a major influence on the North American market owing to the presence of major operating players in the industry.
The competitive landscape analysis of the zinc oxide market is majorly focused on expanding the global growth of Zinc Oxide with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in Zinc Oxide has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
June 2022: U.S. Zinc and EverZinc, two of the largest global producers of zinc chemical products have come together under the Aterian Investment Partners to form the pre-eminent global zinc chemistry business. The combined company will operate under the EverZinc name and will be headquartered in Houston, Texas. The company will serve personal care, alkaline, storage, and rechargeable batteries, pharmaceuticals, chemicals, textiles, agriculture, feed, paints and coatings, and rubber industries.
April 2022: Zochem is a Zinc oxide (ZnO) manufacturer in the United States, expanding production capacity at its Dickson, Tennessee in anticipation of growth in demand. The company will be launching a new low-carbon, high-output muffle furnace to add 15 kilotonnes per annum of capacity to fill the expected increased demand for ZnO in new applications such as battery storage, as well as durable products in the agriculture, automotive, and specialty chemical sectors.
Zinc Oxide is an inorganic compound. It can be used in rubbers, plastics, ceramics, glass, cement, lubricants, paints, ointments, adhesives, sealants, pigments, foods, batteries, ferrites, and fire retardants, and first-aid tapes. It is obtained naturally as the mineral zincite, but most zinc oxide is produced synthetically. It is prominently used in rubber and automobile manufacturing but is not limited to further applications. It is also used in personal and cosmetic products such as baby powder and barrier creams to treat diaper rashes, calamine cream, anti-dandruff shampoos, and antiseptic ointments. The increasing demand for paints and coating as well as consumer demand in ceramics products also boosts the zinc oxide market as it is used in ceramics and paints and coating products. Thus, these are some factors that are attributed to market growth. The global Zinc Oxide market is studied for the following region North America, Europe, Asia-Pacific, and the Rest of the world (RoW). The Asia Pacific is anticipated to witness increasing demand for Zinc Oxide owing to the presence of well-established market players.
Market Sizing for Year: | 2019-2028 |
Base Year: | 2021 |
Forecast Period: | 2022-2028 |
Value: | USD million |
Market Segment studied: | Grade Process Application |
Market Players and its Competitors: | U.S. Zinc (United States) Zochem (United States) EverZinc (Belgium) ZM Silesia (Poland) Akrochem (South Africa) Rubamin (India) Pan-Continental Chemical (Taiwan) J.G. Chemicals (India) Suraj Udyog (India) Silox SA (Belgium) Zinc - Vedanta Limited (India) Hakusui Tech Co Ltd (Japan) Hindustan Zinc (India) Zinc Oxide-Weifang Longda Zinc Industry Co., Ltd (China) |
FREQUENTLY ASKED QUESTIONS
What Are The Drivers For The Zinc Oxide Market?
The Key Driving Factors Of The Market Are In Rising Demand For Zinc Oxide In Rubber Production, Further, Increasing Demand In Ceramics and The Personal and Cosmetic Industry Will Boost The Market Growth Over The Forecast Period.
Which Is The Leading Application Segment For The Zinc Oxide Market?
Rubber and Tires Have Accounted For The Major Market Share and Are Expected To Witness Growth At The Highest Pace During The Forecast Period.
Which Region Is Gaining The Majority Of Market Share During The Forecast Period (2022-2028)?
The Asia Pacific Is Expected To Gain Major Market Share During The Forecast Period (2022-2028).