According to study, “World Zinc Oxide Market Research Report 2024(Covering USA, Europe, China, Japan, SEA and India)” the key companies operating in the world zinc oxide market areUSZinc, Zinc Nacional, Zochem, GH Chemicals, Zinc Oxide LLC, GrilloZinkoxid GmbH, Silox S.A, MarioPilato Blat SA, Rubamin, Horsehead Corporation, Umicore, Pan-Continental Chemical Co. Ltd., Brueggemann Chemical, American Chemet Corporation, Yongchang, A-Ee, Zhongse, Hakusui, Haihua, Seyang, HepsenKimya San. Tic. Ltd., WeifangLongda Zinc Industry Co., Ltd., LiuzhouZinc, Longli, Haigang, Xingyuan. Major companies are focusing on new product development & agreement to tap the opportunities in applications, such as solar energy, electronics, pharmaceuticals and surface coatings.
Zinc oxide is an inorganic compound with chemical formula ZnO. It is insoluble in water. It is obtained as a white powder, produced synthetically from naturally occurring mineral zincite. Zincite is chemically heated to combine by oxygen molecules. The solution is then vaporized & condensed and formed into powder, which has various medicinal uses and employed as an additive in several materials for instance plastics, rubbers, batteries, sealants, ceramics, glass, cement paints, adhesives, paints, lubricants, ferrites, pigments, foods and fire retardants. It has many applications in pharmaceutical industry, especially in skin care products. It is employed as a raw material in production of creams, ointments, baby powders, lotions and anti-dandruff shampoo. It has numerous applications as an antiseptic in antiseptic creams & first-aid bandages owing to its usage as an astringent, antiseptic and topical protectant.
The key properties include high electrochemical coupling coefficient, high chemical stability, high photo-stability and broad range of radiation absorption.
Based on type, zinc oxide market is segmented into wet chemical process, direct process (American method) and indirect process (French method). Based on form type, market is segmented into pellets form and powder form.Based on application, market is segmented into rubber, chemicals, cosmetic ingredients, ceramics, paints & coatings, food processing, and metal processing. Rubber segment holds major share in market owing to extensive usage of zinc oxide as main vulcanizing agent in vulcanization process of rubber. In addition, based on end-use, market is segmented into commercial transport, industrial, and consumer automobile.
The zinc oxide market is driven by growth in demand for tire & rubber products, followed by growth in automotive industry, increase in emerging applications for instance semiconductors & electronics and rise in demand for cosmetics & personal care products. However, rise in inventory cost and slow growth in end-user industries may impact the market. Moreover, increase in use in semiconductor industry is a key opportunity for market.
Based on geography, China and India countries hold major share in zinc oxide market owing to rise in demand from automotive tire industry and easy availability of land & cheap labor in the countries. USA and Europe are expected to witness lucrative growth due to presence of a large number of tier manufacturing companies and increase in production of cosmetic products over the forecast period.It is projected that future of the market will be bright on account of rise in use of the product as a filter against ultraviolet (UV) rays in sun protection lotions during the forecast period. The global market is expected to grow at a CAGR of approximately 2.0% over the next five years, will reach US $4320.3 million in 2024, from US $3988.3 million in 2019.
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Ankur Gupta, Head Marketing & Communications