Pune, India – The global zinc oxide market is projected to reach US$ 7.3 Bn by 2032, with sales growing at a 6.4% CAGR over the assessment period of 2022 and 2032 according to Future Market Insights. Increasing demand for zinc oxide in the rubber industry owing to the growth in the automotive sector is expected to remain a key driving factor.
Zinc oxide is widely used in the rubber industry. It is used as an activator for the vulcanization of the rubber to convert the material into a more durable material by adding strength, improving its resistance against heat, and abrasion, and it also helps in ultraviolet degradation.
Rubber products have a wide range of applications in various industries such as engineering, construction, packaging, and manufacturing.
Increasing demand for rubber in the automotive industry for the production of a wide variety of products such as tires, hoses, gaskets, roll coverings, crap tubes, and adhesives are expected to drive the demand for zinc oxide in the rubber industry.
According to a study, zinc oxide is also being used in coatings where it helps in protecting the automotive parts from corrosion. Zinc oxide nanoparticles are used in the formulation of vehicle electro coating, they absorb ultraviolet light and prevent an inner layer from corrosion.
“Growing production and consumption of industrial grade zinc oxide across paints & coatings and the chemical sector is expected to augment the growth in the market over the forecast period,” says an FMI analyst.
East Asia region is expected to dominate the market owing to the growth of the end use industries and expand at a CAGR of 7.0% during the forecast period.
U.S. Zinc, Rubamin, Zinc Oxide LLC, Grupo Promax, Weifang Longda Zinc Industry Co. Ltd., Yongchang Zinc Industry Co. Ltd., Pan Continental Chemical, J.G. Chemicals, Akrochem, ZM Silesia, and many others are the some of the manufacturers of Zinc Oxide profiled in the full version of the report.
Key players are focusing on expanding their production capacity to increase their market presence. In addition to this, some of the key manufacturers are investing in mergers, acquisitions, and collaboration to improve their product portfolios.