New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Zinc Oxide Global Market Report 2023" - https://www.reportlinker.com/p06466515/?utm_source=GNW
A and Bruggemann.
The global zinc oxide market is expected to grow from $4.33 billion in 2022 to $4.63 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The zinc oxide market is expected to grow to $5.92 billion in 2027 at a CAGR of 6.3%.
The zinc oxide market consists of sales of crude zinc oxide, wurtzite zinc oxide, and zincblende zinc oxide.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Zinc oxide is an inorganic compound that is found naturally as a mineral zincite. Zinc oxide is used as a white pigment as well as a bulking agent or filler.
Asia-Pacific was the largest region in the zinc oxide market in 2022. The regions covered in the zinc oxide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main processes involved in the production of zinc oxide are indirect, direct, wet chemical, and others.The indirect process refers to the French process which is carried out in a vertical furnace with a vertical refining column, original vertical charge, rotary combustion chamber, and vaporizer with an electric arc and is used to melt metallic zinc in a furnace and then allow it to vaporize at about 910 °C.
Various grades include standard, chemical, pharma, food, and others used for different applications such as rubber, ceramics, chemicals, cosmetics and personal care, paints, coatings, pharmaceuticals, agriculture, and others.
Increasing rubber manufacturing is expected to propel the growth of the zinc oxide market going forward.Rubber is an elastic substance, obtained by coagulating the milky juice of various tropical plants and is prepared as sheets and then dried.
Zinc oxide acts as an activator for the vulcanization of rubber and helps in processing uncured or untouched rubbers. For instance, according to the Department of Statistics Malaysia Official Portal, a Malaysia-based government data provider, Malaysia’s natural rubber production increased by 17.7% in January 2022 as compared to December 2021. Therefore, increasing rubber manufacturing is driving the growth of the zinc oxide market.
The development of ZnO nanoparticles has emerged as a key trend gaining popularity in the zinc oxide market.Major players in the zinc oxide market are concentrating on developing new technologies to maintain their market share.
For instance, in October 2020, Sonovia, an Israel-based textile manufacturing company, launched its superior ’SonoMask’ brand of face masks.Sonovia’s patented technology uses ZnO nanoparticles in the face mask.
These ZnO nanoparticles are infused into the fabric of the face mask and make it more sustainable than other facemasks.According to the Israeli-headquartered company, the product has been found to be 90% effective against COVID-19.
In addition to this, in EU-certified labs, the face mask has been proven to kill 99.99% of viruses.
In June 2022, US ZInc., a US-based global provider and manufacturer of various zinc products, acquired EverZinc for an undisclosed amount. With this acquisition, the US Zinc company expands its portfolio of zinc products and aims to develop innovative products. EverZinc is a US-based manufacturer of zinc chemicals, including zinc oxide.
The countries covered in the zinc oxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The zinc oxide market research report is one of a series of new reports that provides zinc oxide market statistics, including zinc oxide industry global market size, regional shares, competitors with a zinc oxide market share, detailed zinc oxide market segments, market trends and opportunities, and any further data you may need to thrive in the zinc oxide industry. This zinc oxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466515/?utm_source=GNW
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