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Zinc Oxide Market Segments Analysis and Growth Forecast

The global zinc oxide market size is estimated to reach USD 8.1 billion by 2030, registering a CAGR of 6.9% during the forecast period, according to a new report by Grand View Research, Inc. Growth can be attributed to the rising product demand for vulcanization of rubber in the tire industry. In addition, the growing consumption of premium skincare products in emerging economies due to the increasing disposable income is expected to drive market growth. The raw materials used to manufacture the product using direct processes include sulfuric acid and zinc chloride. The availability of raw material impacts zinc oxide (ZnO) prices and production.

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Inconsistency in the prices of raw materials and regulations against the usage of the product in several end-use industries are likely to hamper the demand in the coming years. Asia Pacific is projected to be the largest and fastest-growing regional marketover the forecast period. Factors, such as the growing automotive industry and increasing consumer spending on personal care products, are likely to fuel the market growth in the coming years. Key players in the market are inclined towards mergers & acquisitions and joint ventures. For instance, In September 2017, Zinc Oxide LLC acquired Zochem Inc., a subsidiary of American Zinc Recycling Corp. LLC. This deal has increased the revenue and production capacity of the company.

Industry Share Analysis By Major Companies

The market has the presence of large-scale multinational players having a well-established and strong distribution network across the globe. Players are investing more in research & development activities to produce high-performance products. Some prominent players in the global zinc oxide market include:

·        U.S. Zinc

·        Zinc Oxide LLC

·        EverZinc

·        Rubamin

·        Grupo Promax

For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/industry-analysis/zinc-oxide-market-report/request/rs5

Grand View Research has segmented the global zinc oxide market on the process, application, and region

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