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Zinc Oxide Market: The cosmetics & personal care applications is expected to register the fastest growth till 2024

 

The Global Zinc Oxide Market size is projected to grow from USD 4.4 billion in 2019 to USD 5.7 billion by 2024, at a compound annual growth rate (CAGR) of 5.4% between 2019 and 2024. Growing demand from the rubber industry and the non-availability of substitutes that can replace ZnO in various applications, is driving the market growth.

The key players in the zinc oxide market are US Zinc (US), Zochem (US), EverZinc (Belgium), ZM Silesia (Poland), Akrochem (South Africa), Rubamin (India), Pan-Continental Chemical (Taiwan), J.G. Chemicals (India), Upper India (India), and Suraj Udyog (India). These players have adopted the strategy of acquisition to enhance their product offerings and geographic presence.

Wet chemical process is expected to be the fastest-growing process for ZnO between 2019 and 2024.

The wet chemical process is projected to grow at the fastest rate during the forecast period. ZnO Grade produced by this process are very fine in size has good dispersion and slow settling rate. Due to the more effective activation offered by the product, it is called “Active ZnO,” which has superior quality than the ones produced by the French process.


Rubber was the largest application of the zinc oxide market in 2018.

ZnO is used for the vulcanization of rubber to increase the durability of rubber. The tire industry further uses this vulcanized rubber for the manufacturing of tires. In 2018, the rubber industry consumed more than half of the ZnO produced around the world due to the growing production of tires. Rising demand for rubber in the tire, as well as non-tire applications, is expected to drive the demand for zinc oxide consequently.

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