New York , Nov. 06, 2023 (GLOBE NEWSWIRE) -- The global zinc oxide market size is estimated to attain at 7% CAGR from 2023 to 2035. The market is expected to garner a revenue of USD 22 billion by the end of 2035, up from a revenue of USD 11 billion in the year 2022. A rise in the number of vehicles is expected to drive the market growth. In 2022, China, Japan, and Germany were the top three makers of automobiles and commercial vehicles. In 2022, around 85 million automobiles were manufactured worldwide. This figure represents an increase of around 6% over the previous year. Zinc oxide is used as a common lubricant in the engine oil to protect the part of the engine part. It enables vehicles to drive smoothly and wear less. It will lessen the danger of engine damage and enhance your car's fuel economy in the long run.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-5167
Zinc Oxide Market: Key Takeaways
- Market in the Asia Pacific region to propel the highest growth
- The Cloud segment to garner the highest growth
- Market in North America to grow at the highest rate
Development of New Technology to Boost the Growth of the Zinc Oxide Market
The Iranian researchers at the Institute for Colour Science and Technology have developed a novel form of coating with anti-corrosion capabilities by incorporating nanoparticles of zinc oxide. The coating was created with the automotive sector in mind. The nanoparticles are used in the electrocoating composition of a vehicle. They trap UV light and prevent it from reaching the inner layer, preventing the coating from being damaged. This article highlights critical uses for automobile coatings, assisting manufacturers in lowering production costs. The anti-corrosive capabilities of the coating were investigated by selecting the right additive, scattering nanoparticles in the production formulation, and finally curing the coating film.
Zinc Oxide Industry: Regional Overview
The global zinc oxide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Production and Consumption of Rubber to Boost the Market Growth in the Asia Pacific Region
Thailand is the leading producer and exporter of natural rubber in the world. It creates approximately 3 million tonnes per year, accounting for 40% of global output. Due to economic and demographic expansion, the Asia-Pacific region has been the major consumer of rubber since 1986. According to the Thai Rubber Association, Asia-Pacific already makes up 57 percent of global rubber demand and will continue to be the world's fastest-growing rubber market. Natural rubber produced in plantations in Thailand, Indonesia, and Malaysia, as well as sections of West Africa and Central America, accounts for roughly one-third of total global rubber consumption. According to Thailand's Office of Agricultural Economics, the top three producers of natural rubber in the world are Thailand, Indonesia, and Malaysia.
Rising Production of Cosmetics to Elevate Market Growth in North America
In the United States, around USD 120 billion worth of cosmetics and skincare products are expected to be sold by 2025. North America is the largest user of beauty and personal care products. In addition to this, the expenditure on beauty products has significantly risen. Women in the United States spend somewhat more than USD 10 each day on beauty products. Haircuts, makeup, and skincare are the top three-monthly expenditure categories, reaching USD 85 each. Furthermore, American men spend USD 2,928 each year on the same subcategories. Zinc oxide is used for a variety of qualities and uses, including as a UV filter in sunscreen in the sort of nano zinc dioxide), as an antioxidant to soothe skin and relieve inflammation, and as a white pigment in some cosmetics such as foundation.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-5167
Zinc Oxide Segmentation by Type
- Standard
- Chemical
On the basis of type, the zinc oxide market chemical segment is expected to gain the highest market revenue over the forecasted period. Rising demand for sunscreens and other skin-protecting products is expected to drive the segment’s growth. Almost 70% of people who understood about sunscreen had used it at least once in their life, and 60% were regularly using it. Nearly 63% applied sunscreen every day, 66% applied it in the morning, and 78% applied sunscreen just on their faces. Moreover, the chemical zinc oxide is also been used in the plastic industry to maintain the color of the final product and make them highly stable towards heat and also in the production of transparent plastic.
Zinc Oxide Segmentation by End User
- Ceramics
- Pharmaceuticals
- Agriculture
On the basis of end user, the pharmaceutical segment is going to dominate the market growth by the end of 2035. The growth of the segment is majorly attributed to the rising production of drugs. From 2013 to 2022, CDER recognized a median of 43 new drugs per year. The CDER determined that 20 of the 37 new medicines authorized in 2022 (54%) were first-in-class. The mechanisms of action of these drugs significantly vary from those used in therapies currently. Because of its antibacterial, drying, anti-inflammatory, deodorant products, ultraviolet protection, and skin redness healing qualities, zinc oxide (ZnO) is a white powder with numerous applications in pharmaceutical products.
A few of the well-known market leaders in the global zinc oxide market that are profiled by Research Nester are Umicore N.V., EverZinc, Weifang Longda Zinc Industry Co., Ltd., GH Chemicals Limited, Rubamin Ltd., ZOchem Inc., Seyang Zinc Technology (Shanghai) Co., Ltd., Mario Pilato Blat S.A., and Grillo-Werke AG.
Request for Customization of this Report @ https://www.researchnester.com/customized-reports-5167
Recent Developments in the Zinc Oxide Market
- Befesa S.A. is pleased to announce its takeover of the remainder 93 percent ownership in the North Carolina facility managed by American Zinc Recycling (AZR), a zinc recycling and refining business unit established in the United States. Befesa, based in Luxembourg, previously held 7% of the facility as part of a deal that ended in August 2021. The zinc refining facility in North Carolina is ideally placed between Befesa's recycling assets in the United States. Befesa's factory uses novel solvent extraction technology to convert Waelz Oxide into "special high-grade zinc.
- American Zinc Recycling has announced an investment of USD 10 million in the new operations of zinc refining in Rutherford County, North Carolina. The production facility will focus on the manufacturing of continuous galvanizing grade (CGG) and high-grade (SHG) zinc. The operational are expected to start by 2023.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
