Zinc Oxide Market is Forecasted to Reach US$ 7.75 billion in 2028, Says Stratview Research

The global zinc oxide market is projected to witness a growth rate of 6.82% annually from 2023 to 2028, with an anticipated size of US$ 7.75 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global zinc oxide market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 7.75 billion
Growth (CAGR): 6.82% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Zinc Oxide Market:

The global zinc oxide market is segmented based on application type, process type, grade type, and region.

Based on application type - The market is segmented as agriculture, ceramics, rubber, chemicals, pharmaceuticals, cosmetics & personal care, and others. The rubber segment accounted for the largest market share of more than 40% in 2022 and is projected to register significant growth during the review period. The growth of the segment is owing to the durability of ZnO, which is used for the vulcanization of rubber, used to manufacture tires.

Based on process type - The market is segmented into wet-chemical, American, and French processes. The French process segment accounted for the largest market share of more than 80% in 2022 and is projected to register significant growth during the forecast period as Zinc produced by using this process is very fine in size and possesses good dispersion and slow settling rates.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/1537/zinc-oxide-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific accounted for the largest market share of 30% in 2022, as well as the fastest-growing market for ZnO during the forecast period. This growth outlook is majorly attributed to the following-

• China and India, being the major countries with lucrative growth opportunities.
• One of the major driving factors is the rapid growth of the personal care products and cosmetics market in the region, with China being the largest exporter of ZnO.

Zinc Oxide Market Drivers:

Some of the key drivers listed in the report are given below.

Wide usage of zinc oxide in various applications: Zinc oxide is an inactive white compound that is used very widely as a bulking agent or filler and as a white pigment. This is used in different industries and in various applications, such as cosmetics, food supplements, ceramics, and more. The growing usage of all these products hence, increases the demand for zinc oxide.

Usage of Zinc oxide in rubber used for Tires: Zinc oxide (ZnO) possesses excellent properties that act as activators for the vulcanization of rubber. This makes it the best material for manufacturing tires for the automotive industry. Around 75% of the rubber produced across the globe is used in tire production and the automotive industry is expected to grow leaps and bounds in the coming years. This creates a high demand for zinc oxide materials.

Growing construction industry: The global construction industry is predicted to reach USD 13.3 trillion by 2025, according to Oxford Economics. With the rising construction industry, demand for materials used in the industry also grows. Zinc oxides are used in architectural applications for rainwater systems, cladding, and roofing, and are alloyed with copper and titanium.

Emerging applications in the electronics industry: Zinc oxide is used in electronic components due to its unique electric and semiconducting properties. The expanding electronics industry and the development of innovative electronic devices create a great opportunity for zinc oxide applications.

Top Companies in the Zinc Oxide Market:

Stratview Research has identified the following companies as the top market players.
• Advanced Nano Technologies Ltd.
• Akrochem Corporation
• EverZinc Belgium SA
• J. G. Chemicals Pvt. Ltd.
• Pan-Continental Chemical Co Ltd.
• Rubamin Limited
• Showa Denko KK
• Umicore SA
• ZM Silesia SA.
• Zochem Inc.

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Zinc Oxide Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Nano Zinc Oxide Market: https://www.stratviewresearch.com/1771/nano-zinc-oxide-market.html

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This release was published on openPR.