New York, United States, April 19, 2024 (GLOBE NEWSWIRE) -- The Global Zinc Oxide Market Size is to Grow from USD 4.15 Billion in 2023 to USD 7.14 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.58% during the projected period.
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Zinc oxide is a white, inorganic solid powder. It is insoluble in water and non-flammable. In a typical atmosphere, the primary elements are closely connected, merging to form a cluster. Zinc oxide is primarily considered to be zincite in nature, and it is removed through a variety of methods. Zinc oxide is also known for its distinct physiochemical properties, which include catalytic, anti-corrosive, antifungal, antibacterial, and UV filtering abilities. Another major driver of the zinc oxide market is its growing use in the thriving cosmetics industry. Zinc oxide, known for its sun-protective properties, is a common ingredient in sunscreens that offer broad-spectrum protection against harmful UVA and UVB rays. The global market for zinc oxide is being driven by the increased use of zinc oxide in end-user industries, in addition to increased demand from the dye and paint sectors. Its highly stable chemical and physical properties have gained significant traction in the electronics industry, resulting in increased demand for the worldwide zinc oxide market. Market participants are focusing on collaboration and mergers to develop new technologies and capitalize on opportunities in the solar and surface coating sectors. However, zinc oxide production can be energy intensive, especially when using procedures like the indirect or French process. Energy price fluctuations, along with concerns about energy efficiency, can affect production costs and market competitiveness.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Zinc Oxide Market Size, Share, and COVID-19 Impact Analysis, By Form (Powder, Pellets), By End User (Automotive, Construction, Paints & Coatings, Pharmaceutical, Agriculture, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The powder segment is expected to hold the biggest share of the global zinc oxide market during the projected timeframe.
Based on the form, the global zinc oxide market is categorized into powder and pellets. Among these, the powder segment is expected to hold the biggest share of the global zinc oxide market during the projected timeframe. Zinc oxide powder is commonly used in a variety of applications due to its versatility and effectiveness. It is used in a wide range of industries, including batteries, lubricants, friction materials, gold and silver extraction, spray galvanization, and many others. Zinc oxide powder is useful in paints because it provides excellent UV and corrosion protection.
The automotive segment is anticipated to grow at the fastest CAGR during the projected timeframe.
Based on the end user, the global zinc oxide market is categorized into automotive, construction, paints & coatings, pharmaceutical, agriculture, and others. Among these, the automotive segment is anticipated to grow at the fastest CAGR during the projected timeframe. The tire industry's expansion can be attributed to the high demand for rubber, which is primarily used in the production of automobile tires. ZnO is an important component in the manufacturing process because it helps to vulcanize rubber. ZnO also serves as a crosslinking or curing agent for halogen-containing elastomers such as polysulfides and neoprene.
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Asia-Pacific is anticipated to hold the greatest share of the global zinc oxide market over the predicted timeframe.
Asia-Pacific is anticipated to hold the greatest share of the global zinc oxide market over the predicted timeframe. Zinc oxide's rising demand is primarily due to advancements in the automobile, construction, personal care, and cosmetics industries in India, China, Japan, and South Korea. Furthermore, the expanding pharmaceutical industry is expected to drive up demand for zinc oxide due to its numerous benefits.
Europe is projected to hold the fastest share of the global zinc oxide market over the forecast period. In Europe, Germany dominates the zinc oxide market. The increasing demand for zinc oxide from ceramic and rubber applications helps to drive growth in this region. Zinc oxide is used as an additive in ceramics and rubbers. Ceramics are growing due to increased demand from a variety of end-use industries, including automotive, electronics, energy, and medical.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Zinc Oxide market are Akrochem Corporation, Pan-Continental Chemical, Rubamin, Silox SA, Suraj Udyog, Weifang Longda Zinc Industry Co. Ltd, Zinc Nacional SA, Zinc-Co-India, ZM SILESIA SA, Zochem Inc., EverZinc, HAKUSUI TECH, Hanil, Hindustan Zinc Limited, and Others.
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Recent Developments
- In June 2022, Aterian Investment Partners merged U.S. Zinc and EverZinc, the world's two largest zinc chemical producers, to form the world's leading zinc chemistry company.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global zinc oxide market based on the below-mentioned segments:
Global Zinc Oxide Market, By Form
- Powder
- Pellets
Global Zinc Oxide Market, By End User
- Automotive
- Construction
- Paints & Coatings
- Pharmaceutical
- Agriculture
- Others
Global Zinc Oxide Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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