Zinc
oxide is an inorganic mineral or compound with the formula ZnO. It is a white
or yellowish powder which is insoluble in water. It is extensively used as an
additive in various materials & products such as rubbers, plastics,
ceramics, lubricants, glass, cement, paints, ointments, pigments, foods,
batteries, ferrites, adhesives, sealants, fire retardants, and first-aid tapes.
It is also used in a wide range of cosmetics & personal care products
including nail products, makeup, bath soaps baby lotions, and foot powders. It
is used as a bulking agent & colorant. As an ointment, ZnO is also used in
sun protection products and diaper rash products.
Based
on process type, zinc oxide market is segmented into direct process, indirect
process, wet process, waelz process, ZnO nanostructures and laboratory. Based
on grade, market is segmented into treated grade, standard grade, Food and
Chemical Codex (FCC) grade, United States Pharmacopeia (USP) grade and others.
Based on application, market is segmented into rubber, paints & coatings,
ceramics, cosmetics ingredients, animal feed & nutrition, metal processing,
pharmaceuticals products, fertilizers, food additives, light emitting diode,
lubricants and others. The rubber segment dominates owing to the widespread
usage of zinc oxide as the main vulcanizing agent in vulcanization process of
rubber. In addition, based on end-use industry, market is segmented into
automotive, personal care, building & construction, food & beverages,
healthcare, metallurgy and others.
The
zinc oxide market is driven by large scale & growth in demand from the
rubber industry, followed by rise in investments in research & development
(R&D) initiatives, increase in demand for Nano zinc oxide and surge in
demand in the cosmetics, pharmaceuticals, and personal care industries.
However, fluctuation in the price of zinc and ban on the usage of zinc oxide in
various applications may impact the market. Moreover, growth in demand for the
product in semiconductor & electronics is a key opportunity for market.
Based
on geography, the North-American region holds major share in zinc oxide market
owing to rise in automotive sales, growth in demand for cosmetics &
personal care products and increase in usage of rubber in the region. The
Asian-Pacific and European regions are anticipated to witness higher growth
rate due to growth in application in cosmetics, especially the skin care
products over the forecast period. The global market is predictable to reach
the value of US $4,946.26 million by enhancing at a CAGR of 5.85% during the
forecast period (2018-2023).
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