Zinc Oxide Market Research Report by 2027, Fortune Business Insights™
The global zinc oxide market size is predicted to reach USD 6.36 billion by 2026, exhibiting a CAGR of 5.7% during the forecast period. The increasing application of zinc oxide in the cosmetic and pharmaceutical industry will contribute positively to the zinc oxide market growth during the forecast period. The zinc oxide is a vital ingredient in the manufacturing of foot powders, makeup, bath soaps, and baby lotions. Thus, the rising demand for cosmetics products such as sunscreens, antiseptic ointments will accelerate the zinc oxide market revenue. Moreover, the rising demand for calamine creams owing to its properties to prevent sunburn, premature aging of the skin, along with the protection of skin from UV lights, will also aid the development of the market in the forthcoming years. Nonetheless, the rising emphasis on skincare and skin protection will have a positive impact on the zinc oxide market revenue.
According to the report, published by Fortune Business Insights in a report, the market size stood at USD 4.10 billion in 2018. The report is aimed at delivering a comprehensive description of the zinc oxide market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the market. It further examines the ways and components convincing market expansion, growth patterns, restricting factors, and market strategies.
Competitive Landscape:
Agreement Between Zinc Oxide LLC and Zochem to Spur Business Opportunities
Zinc Oxide LLC, a supplier and manufacturer of inorganic compounds announced that it acquired a subsidiary of American Zinc Recycling LLC, Zochem. The agreement between the company will involve a transaction of all Zochem’s manufacturing operations and product lines. Zochem’s extensive domestic and global distribution network will remain the same. The acquisition of Zinc Oxide LLC will aid the expansion of the zinc oxide market during the forecast period owing to the manufacturing and production of zinc oxide with the French Process method, as it is considered the best method for high-quality zinc oxide.
Moreover, Ed Smith, the Senior Vice President of Sales and Marketing, said in a statement, “The acquisition of Zochem demonstrates our commitment to being the leading zinc oxide supplier in North America. This move will benefit customers by ensuring a stable source for any grade of the highest-quality zinc oxide. In addition, many customers will benefit from reduced shipping costs and transit times, as approximately 80% of the North American zinc oxide market is within a 500-mile radius of our two plants.”
Regional Insights:
Stellar Demand for Rubber to Augment Growth in Asia Pacific
Asia Pacific is likely to witness high demand in the forthcoming years. The growth in the region is attributed to the growing demand for zinc oxide in rubber applications. Moreover, the surge in the automotive industry will also contribute positively to the growth of the market owing to the use of rubber in the automotive industry for the manufacturing of tires, automotive ant vibration, transmission systems, molded parts, spare parts, body sealing systems, and adhesives. The market in North America generated a revenue of USD 0.55 billion in 2018 and is expected to witness steady growth in the forthcoming years due to the declining rubber production in the region.
Source: https://www.fortunebusinessinsights.com/zinc-oxide-market-102480