Albany, NY -- (SBWIRE) -- 03/15/2018 -- Zinc oxide is an inorganic compound, which is insoluble in water. Its chemical formula is ZnO. It is obtained as a white powder, produced synthetically from the naturally occurring mineral zincite. Zincite is chemically heated to combine with oxygen molecules. This solution is then vaporized, condensed, and formed into a powder, which has several medicinal uses, and can be employed as an additive in various materials such as rubbers, plastics, ceramics, batteries, glass, sealants, cement, lubricants, paints, ointments, adhesives, pigments, foods, ferrites, and fire retardants. It has various applications in the pharmaceutical industry, especially in skin care products, and is employed as a raw material in the manufacture of ointments, creams, lotions, baby powders, anti-dandruff shampoo, etc. It has various applications as an antiseptic in anti-septic creams and first-aid bandages due to its usage as an astringent, topical protectant, and an antiseptic. Zinc, due to its characteristics such as those of other elemental metals, can carry an electrical charge, which helps it act as a building block for protein synthesis in the human body. Moreover, zinc has a positive impact on the digestive tract and immune system.
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Hence, it has widespread applications in the healthcare industry. However, the compound zinc oxide is prescribed for medicinal usage only as an ointment or cream to be applied externally. It can prove hazardous if swallowed or consumed. Furthermore, inhalation of zinc oxide fumes can cause metal fume fever. The conductivity of zinc oxide is comparatively lower than that of its counterparts. Additionally, zinc oxide has several environmental hazards, as it is insoluble in water. This drives the need for substitutes. The market for zinc oxide is anticipated to provide lucrative growth opportunities due to its increasing usage in the tire and pharmaceutical industries. Both, the tire industry and pharmaceutical industry are likely to expand considerably during the forecast period. Governments from all around the world are approving the usage of zinc oxide as a UV filter in cosmetics. This is a key factor driving the zinc oxide market.
In terms of end-use industry, the zinc oxide market can be segmented into rubber, ceramics, pharmaceuticals, chemicals, agriculture, and others. The rubber industry has dominated the market and is anticipated to dominate the market during the forecast period due to the extensive usage of zinc oxide as the main vulcanizing agent in the vulcanization process of rubber. The tire and automotive industries are anticipated to expand at a considerable growth rate during the forecast period, which in turn is projected to drive the zinc oxide market.
In terms of geography, the market can be segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominates the zinc oxide market and is likely to continue its dominance during the forecast period followed by Europe and Asia Pacific. The governments of countries in North America and the European Union, both, have approved the usage of zinc oxide in cosmetics and beauty products. Moreover, its increased utilization in the tire industry is anticipated to propel the market for zinc oxide in Asia Pacific, as Asia Pacific is a major market with lucrative growth opportunities for the tire industry.
Major players operating in the global market include Symrise, Ashland Specialty Chemical, BASF SE, Croda International plc, Kobo Products, Merck KGaA, Sunjin Chemical Co. Ltd., Mineral and Pigment Solutions Inc., Evonik Industries AG, and TRI-K Industries Inc., and Transpek Silox.
Companies are adopting aggressive marketing tactics and merger & acquisition strategies to expand their market share. They are also shifting their production facilities to emerging economies, such as China and India, in Asia Pacific due to the easy availability of land, cheap labor, and government subsidies in the region. Additionally, companies are employing export as a tool for geographic expansion in emerging economies in Middle East & Africa.
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