Zinc Oxide Market Size USD 4594.2 Million by 2026 at CAGR 2.1% - Valuates Reports
BANGALORE, India, Dec. 24, 2020 /PRNewswire/ -- The Zinc Oxide Market is Segmented by Type (Direct Process (America Method), Indirect Process (French Method), Wet Chemical Process), Application (Rubber/Tires, Ceramic/Glass, Chemical/Pharmaceutical, Agriculture, Others), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Chemicals & Metals category.
The global Zinc Oxide market size is projected to reach USD 4594.2 Million by 2026, from USD 3965.7 Million in 2019, at a CAGR of 2.1% during the forecast period 2021-2026.
Major factors driving the zinc oxide market size are increased adoption in end-user industries, the rapid increase in the rubber industry, and increasing application in electronics and semiconductors.
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TRENDS INFLUENCING THE ZINC OXIDE MARKET SIZE
Due to the high demand for tires from the transport industry, the rubber industry is growing at a remarkable rate. Zinc oxide is used for vulcanizing rubber for the manufacture of tires, hockey puck, and shoe soles. Increasing production and sales of automobiles across the globe are boosting demand for tires which in turn is driving the growth of zinc oxide market size.
Increased demand for cosmetics and personal care products is expected to increase the growth of the zinc oxide market size. The zinc oxide is used as a bulking agent and protects the skin from harmful UV rays. Increasing use of zinc oxide as an ultraviolet ray filter in sun protection lotions is expected to drive product growth over the forecast period.
Another factor that is increasing the growth of zinc oxide market size is its increasing application in the electronics and semiconductors industry. Increasing adoption of smart devices is expected to positively influence market growth.
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Top Companies In The Zinc Oxide Market
Currently, US Zinc, EverZinc, Zochem, Silox, Zinc Oxide LLC, and Longli are major manufacturers of this industry. US Zinc is a global leader. In 2017, the sale of US Zinc was 134.4 K MT, and the company holds a share of 8.21%.
In Europe and the United States, US Zinc, EverZinc, Zochem and Silox are the market leader. After the acquisition of Zochem, Zinc Oxide LLC became the leader in the North American market.
Longli, Pan-Continental Chemical, Rubamin, and Yongchang are leaders in the Asia Pacific market. Univentures and PT. and Indo Lysaght are leaders in Southeast Asia.
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ZINC OXIDE MARKET SHARE ANALYSIS
Based on the region, North America held a significant zinc oxide market share of 15.1% in 2017and is expected to show a similar growth trend during the forecast period. The United States is the major contributor to the growth of zinc oxide market size in this region.
The Asia-Pacific region is expected to witness the highest growth during the forecast period due to the strong demand from China, India, and Southeast Asian countries. The zinc oxide market size in Asia pacific region was 2400 USD million in 2017 and is expected to reach 2720 USD million in 2024, at a market share of 2.91%. China is the largest producer and consumer of Zinc Oxide. The nation is also the largest exporter of Zinc Oxide. Also, the presence of a large manufacturing base including the manufacture of glass, pharmaceuticals, and rubber, is expected to play a vital role in driving the growth of the zinc oxide market size in this region.
Zinc Oxide Market Segment by Regions/Countries, this report covers
- North America
- Europe
- China
- Japan
- Southeast Asia
- India
- Central & South America.
Zinc Oxide market Segment by Type
- Direct Process (America Method)
- Indirect Process (French Method)
- Wet Chemical Process.
Zinc Oxide market Segment by Application
- Rubber/Tires
- Ceramic/Glass
- Chemical/Pharmaceutical
- Agriculture
- Others.
Major Players in the Market
US Zinc, EverZinc, Zochem, Silox, Zinc Oxide LLC, Longli, Pan-Continental Chemical, GH Chemicals, Rubamin, Yongchang, Zinc Nacional, Univentures, Seyang, Grillo, PT. Indo Lysaght, Haihua, Hakusui, Mario Pilato, Brueggemann, Zhongse, Haigang, Xingyuan, Suraj Udyog Gujarat, INDOXIDE, A-Esse, PT. Citra CakraLogam, etc.
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