“The large-scale and growing demand from rubber application is driving the market, globally.”
The global zinc oxide market size is estimated to grow from USD 4.4 billion in 2019 and to USD 5.7 billion by 2024, at a CAGR of 5.4% during the forecast period. The market is driven by the large-scale and growing use of zinc oxide (ZnO) in application areas such as rubber and ceramics manufacturing. The growth of these end-use industries is expected to augment the growth of the global zinc oxide industry.
“The wet-chemical process segment is projected to register the highest CAGR during the forecast period.”
The wet-chemical process is projected to grow the fastest among the procedures used for manufacturing ZnO. Though the wet-chemical process is relatively complex in comparison with others, it enables the manufacturing of ZnO with finer particle size and active grades. The active grade helps the end-users to reduce the dosage of applications (between 40-70%). These factors are projected to boost the wet-chemical process.
“The rubber application segment is expected to be the largest application of ZnO during the forecast period.”
Rubber accounted for the majority of the global zinc oxide market share in 2018. ZnO is used as an activator in the vulcanization of rubber due to its superior properties. Vulcanization is the process of converting rubber into a more durable product. ZnO adds many features to the rubber, such as resistance against heat, and protects from ultraviolet degradation.
Tire manufacturing is the end-use industry that requires a very high amount of ZnO for durability and high heat conductivity because of the heat generated in tires during high speed. Also, there has been no substitute found to replace ZnO in the rubber application. These factors are driving the demand for ZnO in this application segment
“The Middle East & Africa is projected to be the fastest-growing market during the forecast period.”
The Middle East & Africa is projected to be the fastest-growing zinc oxide market during the forecast period. Increasing investment in aiding the establishment of new manufacturing facilities is driving the demand for ZnO in the region.
Extensive primary interviews were conducted to determine and verify the market size of several segments and subsegments and information gathered through secondary research.
The breakup of primary interviews is given below:
- By Company Type: Tier 1 – 60%, Tier 2 – 30%, and Tier 3 – 10%
- By Designation: C level –50%, Director Level – 40%, and Others – 10%
- By Region: Europe – 22%, APAC – 56%, Americas – 11%, Middle East & Africa – 11%
The leading players in the zinc oxide market are US Zinc (US), Zochem (US), EverZinc (Belgium), ZM Silesia (Poland), Akrochem (South Africa), Rubamin (India), Pan-Continental Chemical (Taiwan), J.G. Chemicals (India), Upper India (India), and Suraj Udyog (India).
This research report categorizes the zinc oxide market based on process, grade, application, and region. The report includes detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, and key strategies associated with the market.
Key Benefits of Buying the Report
The report will help leaders/new entrants in this market in the following ways:
- This report segments the zinc oxide market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business.