Lately, zinc oxide has gained significant prominence across the agricultural sector. This can be ascribed to various essential micronutrients for crops and plants offered by zinc oxide. With greater efficiencies and better crop yields, zinc oxide has been successful in replacing zinc sulphate used in fertilisers. When applied to soils, the use of zinc oxide in inorganic micronutrient fertiliser is effective in improving soil quality and fulfilling the soil’s zinc requirements. As a result, substantial enhancements have been witnessed in crop yields and overall soil productivity. Considering the limited availability of arable land, the use of zinc oxide facilitates aversion to loss of vital micronutrients while improving crop yield and output. Under such circumstances, gains are likely to propel the global zinc oxide market in the forthcoming years.
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Zinc Oxide Market to Stay Lucrative with Substantial Applications in Biomedicine Domain
The upcoming years hold promising prospects for the global zinc oxide market. Owing to its low toxicity and high biocompatibility, zinc oxide has found its application in the biomedicine domain. An amalgamation of zinc oxide (ZnO) and nanoparticles (NPs) facilitates the development of reactive oxygen species (ROS) and the release of zinc ions. Due to this, these particles are considered to be ideal for antibacterial and anticancer applications. To this end, successive research on potential components of nanoparticles is being pursued. Furthermore, zinc helps in maintaining the structural integrity and formation of insulin which has promoted its use in diabetes treatment. With the ability to block pathogens and higher luminescence, the zinc oxide market is booming with significant opportunities.
Skyrocketing Tire Sales and Concurrent Rise in Rubber Production to Prolong Market Growth Trajectory
Being a vulcanizing agent, zinc oxide has found its application in the rubber and tire manufacturing industry. When vulcanised using zinc oxide, end-products based on rubber, such as tires, endure exceptional durability. It adds greater resilience, and strength, and curtails the heat buildup in tires. Tires are widely used in the transportation and logistics, and automotive industries. As the growth curve of these industries begins to steepen, the demand for a tire is experiencing a rampant rise. This, in a way, has increased the global demand for rubber, in turn, accelerating the pace of rubber production. Such a favourable business environment is setting the stage for a robust expansion of the zinc oxide market.
Asia Pacific Dominance Remains Intact with Soaring End-use Industrial Applications
Region-wise, Asia Pacific garners a major share of the global zinc oxide industry revenue. The accelerated adoption of zinc oxide in end-use industries including cosmetics, rubber manufacturing, and ceramics has unlocked new incremental opportunities for the manufacturers and distributors of zinc oxide. Its use in rubber vulcanization has propelled the demand for zinc oxide in tire manufactures across various economies including China and India. Favourable government initiatives to increase local production of tires have further fuelled market expansion.
Major Market Players
Some of the most prominent players in the global zinc oxide market include Grupo Promax, Yongchang Zinc Industry Co. Ltd., Weifang Longda Zinc Industry Co. Ltd., Uttam Industries, EverZinc, Akrochem Corporation, Parchem Find Specialty Chemicals, Lanxess, Zochem Inc., ZM Silesia, Silox S.A., Suraj Udyog, and Hemadri Chemicals.
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