The global zinc oxide market (ZnO) is expected to face a considerable growth during the forecast period. ZnO is an inorganic compound with white color and is widely used in pharmaceuticals, chemicals, rubber and glass industries. Zinc oxide is used to increase the durability of rubber through the process of vulcanization. With the growing production of tires, the rubber industry is consuming the most of the zinc oxide produced. Hence, the rubber industry stands as a dominant segment as there is high demand from the automotive industry. The wet chemical process is mostly preferred by most of the segments as it enables the manufacturing of zinc oxide with finer particle size and active grades which helps the end user to reduce the dosage of application. The zinc oxide produced by this process has slow settling rate and good dispersion due to which it is called as “Active zinc oxide”.
COVID-19 Impact Analysis
- The market has a negative impact due to COVID-19 outbreak. Due to the pandemic, several countries around the world were forced into lockdown to stop the spread of the virus. Major tire manufacturers had to cease production due to which the supply was critically low.
- Moreover, the supply chain of the product has been massively affected due to restrictions imposed by the authorities on imports and exports during the pandemic.
- There has been less demands from the cosmetic industries too, owing to slow economic growth of many countries.
TOP IMPACTING FACTORS
The large scale rubber industry is driving the zinc oxide market as it is needed for the vulcanization of rubber. Moreover, the substitute products for the critical process is not available due to which the market influences the growth. The slowdown of the automobile industry which is the biggest consumer for tires has affected the growth of the zinc oxide market. The price fluctuation of zinc also affects the market as the cost varies from time to time. Zinc is traded as a commodity across the world so its availability and use varies. The nanoparticles of zinc have non-toxic synthesis route and are easy to fabricate due to which it makes it very handy for various biological applications.
- The rubber industry is the most dominant industry in this segment due to the high demand from the automotive industry. The U.S. has one of the largest and most advanced tire market in the world with the likes of Goodyear Tire and Rubber Co., Cooper Tire & Rubber Co., Michelin and Bridgestone Americas Tire Operations.
- Asia-Pacific region is known as manufacturing hub in automotive manufacturing. It stands as most dominating market for zinc oxide. Growing consumption of zinc oxide in tires, rubbers and ceramic cosmetics will boost the market growth.
- From June 2020, the Indian Government has restricted the import of tires in order to accelerate the domestic manufacturing in the country. The government has started ‘Aatmanirbhar Bharat’ campaign and created ‘Vocal for Local’ slogan in order to make the country self-sufficient.
- Moreover, India is the third-largest pharmaceuticals market in terms of volume and thirteenth most significant in terms of value as it has a huge raw material base and availability of a skilled workforce.
Hence, all of these trends will drive the demand for zinc oxide during forecasted period.
Key Benefits of the Report
- This study presents the analytical depiction of the zinc oxide industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the zinc oxide market share.
- The current market is quantitatively analyzed to highlight the zinc oxide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed XYZ market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the zinc oxide market Report
- Who are the leading market players active in the zinc oxide market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- Upcoming Report specific FAQs
- What is “zinc oxide market "?
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- What is “zinc oxide market “prediction in the future?
- Who are the leading global players in the “zinc oxide market “?
- What are the current trends and predicted trends?
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- What are the key benefits of the “zinc oxide market “report?
- What will be the anticipated growth rates for your own zinc oxide market economy altogether and also for every segment inside?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- Upcoming Report specific FAQs
Zinc Oxide Market Report Highlights
Key Market Players
Pan-Continental Chemical, Zinc Oxide LLC, Longli, U.S. Zinc, Zochem, HakusuiTech Co. Ltd., Umicore, Chem Trade, Silox SA, EverZinc
GH Chemicals, Rubamin, Yongchang, Zinc Nacional, Others