Zinc oxide is an inorganic mineral or compound with the formula ZnO. It is a white or yellowish powder which is insoluble in water. It is extensively used as an additive in various materials & products such as rubbers, plastics, ceramics, lubricants, glass, cement, paints, ointments, pigments, foods, batteries, ferrites, adhesives, sealants, fire retardants, and first-aid tapes. It is also used in a wide range of cosmetics & personal care products including nail products, makeup, bath soaps baby lotions, and foot powders. It is used as a bulking agent & colorant. As an ointment, ZnO is also used in sun protection products and diaper rash products.
According to study, “Zinc Oxide Market Research Report Process (Direct, Indirect, Laboratory, Waelz, Wet, ZnO Nanostructures), Application (Animal Feed & Nutrition, Ceramics, Cosmetic Ingredients, Fertilizers, Food Additives, Light Emitting Diodes, Lubricants, Metal Processing, Paints & Coatings, Pharmaceuticals Products, Rubber, Others), End Users (Automotive, Building & Construction, Food & Beverages, Healthcare, Metallurgy, Personal Care, Others), and Region – Forecast to 2023” the key companies operating in the zinc oxide market are Miike Smelting Co. Ltd., Advanced Nano Products Co. Ltd., Nyrstar, Recylex, American Zinc Recycling LLC, EverZinc, Befesa, GHC Ltd., US Zinc, Symrise, Weifang Longda Zinc Industry Co. Ltd., Zochem LLC, Marzinc, PontenossaSPA, Grillo-Werke AG. Key companies operating in the market are focusing on new product development & agreement to tap the opportunities in applications, for instance surface coatings, solar energy, and pharmaceuticals.
Based on process type, zinc oxide market is segmented into direct process, indirect process, wet process, waelz process, ZnO nanostructures and laboratory. Based on grade, market is segmented into treated grade, standard grade, Food and Chemical Codex (FCC) grade, United States Pharmacopeia (USP) grade and others. Based on application, market is segmented into rubber, paints & coatings, ceramics, cosmetics ingredients, animal feed & nutrition, metal processing, pharmaceuticals products, fertilizers, food additives, light emitting diode, lubricants and others. The rubber segment dominates owing to the widespread usage of zinc oxide as the main vulcanizing agent in vulcanization process of rubber. In addition, based on end-use industry, market is segmented into automotive, personal care, building & construction, food & beverages, healthcare, metallurgy and others.
The zinc oxide market is driven by large scale & growth in demand from the rubber industry, followed by rise in investments in research & development (R&D) initiatives, increase in demand for Nano zinc oxide and surge in demand in the cosmetics, pharmaceuticals, and personal care industries. However, fluctuation in the price of zinc and ban on the usage of zinc oxide in various applications may impact the market. Moreover, growth in demand for the product in semiconductor & electronics is a key opportunity for market.
Based on geography, the North-American region holds major share in zinc oxide market owing to rise in automotive sales, growth in demand for cosmetics & personal care products and increase in usage of rubber in the region. The Asian-Pacific and European regions are anticipated to witness higher growth rate due to growth in application in cosmetics, especially the skin care products over the forecast period. The global market is predictable to reach the value of US $4,946.26 million by enhancing at a CAGR of 5.85% during the forecast period (2018-2023).
To know more, click on the link below:-
Ankur Gupta, Head Marketing & Communications