Global Zinc Oxide Market: Overview
Zinc oxide (ZnO) is a white solid inorganic powder. It is insoluble in water and is non-flammable. The primary elements are strongly attached to each other to combine, which further form a cluster in normal ambiance. Zinc oxide is primarily found as zincite in nature and further after various processes zinc oxide is extracted. Zinc Oxide is also known for its unique physiochemical characteristics such as catalytic, anti-corrosive, antifungal, anti-bacterial and UV filtering properties.
Global Zinc Oxide Market: Segmentation
The global zinc oxide market is broadly segmented in various end-user industries such as rubber, chemicals, pharmaceuticals, agricultural, personal care, ceramics, and many others from which rubber industry dominates the global zinc oxide market in terms of demand. Further, based on applications, the global zinc oxide market is categorized as additive in plastic, glass, paints, lubricant, adhesive, and so on.
Global Zinc Oxide Market: Growth Factors
Rising utilization of zinc oxide in end-user industries and growing demand from the dyes and paints industries is driving the global zinc oxide market. It’s highly reliable chemical and physical properties have gained huge popularity in the electronics industry, resulting in rising demand of global zinc oxide market. Zinc oxide is highly used in pharmaceuticals to circulate the color and disease-specific properties. Zinc oxide is also used in chemicals that are utilized for agricultural activities, which is also the key factor responsible for the growth of global zinc oxide market. Market players are focusing on collaboration and mergers to develop new products and to tap the opportunities in solar industry and surface coating industry. These are the major factors responsible for the augmented growth of global zinc oxide market. Moreover, demand from the rubber industry due to the huge demand for automobiles is also a growth factor motivating the global zinc oxide market. Moreover, owing to rising demand, the global zinc oxide market is anticipated to grow in a positive way in the coming future. However, slow economic growth and implementation of new standards related to utilization of zinc have restrained the growth of global zinc oxide market to some extent.
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Global Zinc Oxide Market: Regional Analysis
Geographically, Asia Pacific region is leading the global zinc oxide market due to huge demand from the electronic industry, specifically from China. North American and European regions are anticipated to elevate rapidly due to growing industrialization in the sub-regions in coming future.
Global Zinc Oxide Market: Competitive Players
Some of the major players dominating the global zinc oxide market include BASF SE, Hindustan Zinc Ltd., Pan-Continental Chemical Co. Ltd., Industrias Penoles, Hakusui Tech Company Ltd., Korea Zinc Company Ltd., New Boliden AB, Teck Cominco Ltd., Zinifex Ltd., Xstrata Plc, and many others.
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