Global Zinc Oxide Market 2017-2021
About Zinc Oxide
Zinc oxide is a mild astringent. It is an inorganic compound and is soluble in acids and bases but is insoluble in water. It is commonly available as a white powder. The major application of zinc oxide is in the rubber industry. The raw materials that are used for the production of zinc oxide are typically recycled byproducts. The commonly used raw materials are residual oxidic materials that are obtained from the galvanizing process or zinc bearing materials from mixed sources.Technavio’s analysts forecast the global zinc oxide market to grow at a CAGR of 3.94% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global zinc oxide market for 2017-2021. To calculate the market size, the report considers the volume share of zinc oxide in the global zinc market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Zinc Oxide Market 2017-2021
Technavio recognizes the following companies as the key players in the global zinc oxide market: American Zinc Recycling, EverZinc, GHC, Hindustan Zinc, and Votorantim Group.
Other Prominent Vendors in the market are: Akrochem, American Chemet, BrüggemannGruppe, Gaoyi County Yongchang Zinc Industry, Grillo-Werke, HakusuiTech, Numinor, Rubamin, SEYANG ZINC TECHNOLOGY (HUAI AN), Weifang Longda Zinc Industry, and Zinc Nacional.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing use in semiconductor industry. The growing demand for zinc oxide in the production of varistors, ferrites, and solar cells is expected to propel the growth of the global zinc oxide market in the forecast period. Global sales of semiconductor reached more than $325 billion in 2016 and are expected to grow during the forecast period, which will drive the demand for zinc oxide.”
According to the report, one driver in the market is growing demand for nano zinc oxide. Nano zinc oxide is a specialized nanomaterial that is mainly available in the form of dispersions and powders. It exhibits excellent physiochemical characteristics such as anticorrosion, antifungal, antibacterial, catalytic, and UV filtering properties. Paints and coatings and cosmetics are major application segments of the global nano zinc oxides market. The market for nano zinc oxide is also driven by the demand for ultraviolet A (UVA) or ultraviolet B (UVB) filters in sun protection cosmetics and sunscreens.
Further, the report states that one challenge in the market is closure of zinc mines leading to supply deficiency. The closure of zinc mines around the globe has led to an increase in zinc prices. The increase in zinc prices will ultimately affect the prices of zinc compounds such as zinc oxide. More than 10 zinc mines are planned to be closed by the end of 2017, and this is expected to reduce the global zinc production by approximately 10%. In 2015, Hengyang Dongda Chemical closed its mine in China due to an environmental certification issue.
American Zinc Recycling, EverZinc, GHC, Hindustan Zinc, Votorantim Group, Akrochem, American Chemet, BrüggemannGruppe, Gaoyi County Yongchang Zinc Industry, Grillo-Werke, HakusuiTech, Numinor, Rubamin, SEYANG ZINC TECHNOLOGY (HUAI AN), Weifang Longda Zinc Industry, and Zinc Nacional.