Zinc Oxide Market Size – USD 4.18 Billion in 2018, Zinc Oxide Market Growth – CAGR of 5.4%
NEW YORK CITY, NEW YORK, UNITED STATES, March 23, 2020 /EINPresswire.com/ — The Global Zinc Oxide Market is forecast to reach USD 6.37 Billion by 2027, according to a new report by Reports and Data. Zinc Oxide (ZnO) is an inorganic chemical compound that typically comes in a white colored powder formation and insoluble in water. Zinc oxide is manufactured via several methods such as indirect or French process, direct or American process, wet chemical process, waelz process, laboratory synthesis, and zinc oxide nanostructures. Amongst these many processes, the wet chemical processes are now being widely followed in industries as the final product are more effective with a higher dispersion and slow setting rate.
The global market is growing at a substantial pace due to the growing demand for Zinc Oxides for the vulcanization of rubber in the tire manufacturing industries and the skincare products manufacturing for its sun protection properties. The rapid growth of the ceramic and glass made consumer and architectural applications is projected to take part in the market growth substantially.
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The Asia Pacific region is expected to retain its dominance in the global market. The market in North America is growing at a significant pace due to the extensive use of ZnO in various industry verticals. China and India are some of the fastest-growing markets in the world, while Germany and the United States hold some of the most prominent players in the market.
Further key findings from the report suggest
• Zinc Oxide is used in the manufacturing process of glazes and acts as an opacifier and whitener. The low coefficient of thermal expansion of ZnO improves resistance to thermal as well as mechanical shock in glass & ceramics. In the frit industry, ZnO enhances clarity and color. Glass & ceramic industries sub-segment is expected to grow at a CAGR of 6.0% during the forecast period.
• Growing penetration of the online retailing businesses for chemicals and materials, especially in the emerging nations of the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing. Online retailing is expected to gain a market share of 33.9% by 2027.
• European region is forecasted to witness a significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 3.9% during the forecast period. Germany holds some of the most prominent players in this region.
• North America, with its high demand for ZnO in the automotive tires and glass-based products, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 6.3% during the forecast period.
• In January 2019, EverZinc, a global leader in the production of zinc chemicals based in Belgium, announced the acquisition of GH Chemicals, a Canadian manufacturer and exporter of French Process-based zinc oxide products. This acquisition would provide a product and market expansion of EverZinc through the world-class facilities in Quebec.
• Key participants include Akrochem Corporation, U.S. Zinc Corporation, Pan-Continental Chemical Co., Ltd., J G Chemicals Pvt Ltd, Lanxess Aktiengesellschaft, Rubamin, ZM Silesia S.A., Upper India, L. Brügge¬Mann GmbH, and EverZinc, among others.
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For the purpose of this report, Reports and Data have segmented the global Zinc Oxide market on the basis of distribution channel, grades, end-use verticals, and region:
Distribution Channel Outlook (Revenue, USD Billion; 2016-2027)
• Online Retailing
• Offline Retailing
Grades Outlook (Revenue, USD Billion; 2016-2027)
• Food & Chemical Codex (FCC)
• United States Pharmacopeia (USP)
• Other Grades
End-Use Verticals Outlook (Revenue, USD Billion; 2016-2027)
• Glass & Ceramic Industries
• Tire & Rubber Industries
• Paints & Coatings
• Chemicals & Pharmaceuticals
• Consumer Goods
Regional Outlook (Revenue, USD Billion; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire