The global zinc oxide market is predicted to witness a compound annual growth rate of 4.32% during the forecast period to reach a total market size of US $5.239 billion by 2023, increasing from US $4.065 billion in 2017.
The increasing application of Zinc Oxide in rubber, ceramics, chemical, pharmaceutical and personal care is driving the demand for Zinc Oxide. Rubber is expected to exhibit the highest growth rate owing to the increasing sales of the tyres and other rubber products in automotive industry across many regions. Increasing investments into research and development to develop new and enhanced products using zinc oxide will continue to drive the demand for zinc oxide, thus contributing significantly to the market growth.
However, slow economic growth and new standards for rubber adopted in China and many other regions are hindering the market growth to some extent. Various growth strategies like acquisitions, mergers and partnerships are being adopted by key players to increase their market share. Currently, Asia pacific holds the largest market share, with China being one of the biggest markets globally.
Competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are U.S. Zinc, Horsehead Corporation, Umicore, G.H. Chemicals Limited, and Weifang Longda Zinc Industry Company Limited among others.
Key Topics Covered
2. Research Methodology 2.1. Research Process and Design 2.2. Research Assumptions