Zinc Oxide Market Potential Growth, Analysis, Strategies and Forecast 2024
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Axiom MRC, in its “Zinc Oxide” report has described about its Application and Geography Global Market Share, Trend Analysis & Forecast Up To 2024” Zinc oxide (ZnO) is a multifunctional material classified as a semiconductor in group II-VI.
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Zinc Oxide Market Global Analysis: It has exceptional chemical and physical properties, such as high electrochemical coupling coefficient, high chemical stability, extensive range of radiation absorption and high photostability. The piezoelectric and pyroelectric properties of ZnO enables it to function as a sensor, converter, energy generator and photocatalyst in hydrogen production. Moreover, because of its hardness, rigidity and piezoelectric constant it is an important material in the ceramics manufacturing.
The global zinc oxide market has gained remarkable growth owing to increasing demand of tire and rubber products in emerging countries and high demand in cosmetic & personal care industry. Moreover, new product launches and their expanding application areas coupled with favourable reimbursement policies are fuelling the market growth.
Zinc Oxide Market Segmentation: Zinc Oxide Market Applications: Based on application, the market is segmented into agricultural, ceramics, chemicals, cosmetics & personal care, pharmaceuticals, rubber and others. The market is expected to grow at a healthy growth rate in next five years, driven by the growing sales of tire and other rubber products from automotive industry. Among various applications, the rubber application accounted for largest market share in 2017.
Zinc Oxide Market Geography: By geography, the global zinc oxide market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to account for the largest share in 2017, followed by
Europe and Asia-Pacific. In Europe, use of zinc oxide for cosmetic industry is expected to account for favourable growth. In addition to this, the Asia-Pacific region is expected to grow at a lucrative growth rate during the forecast period.
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Zinc Oxide Market Key Players: Some of the major players operating in the global zinc oxide market include Akrochem Corporation, American Chemet Corporation, American Zinc Recycling LLC., BASF SE, G.H. Chemicals Limited, Grillo-Werke AG, Hakusuitech Company Limited, Numinor, Symrise AG, U.S. Zinc and Umicore SA among others. New product launches and acquisitions are the key growth strategies adopted by major players to reinforce their positions in the international market. For instance, Zochem, formerly a subsidiary of American Zinc Recycling LLC, has been acquired by Zinc Oxide LLC. It is the largest producer of zinc oxide in North America, headquartered at the Zinc Oxide LLC Dickson, TN facility.
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