Report : North America Zinc Oxide Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Process (French Process, American Process, Wet Process, and Others), Grade (Standard Grade, Food Grade, USP Grade, and Others), Application (Rubber, Agriculture, Chemicals and Lubricants, Glass and Ceramic, Paint and Pigment, Pharmaceutical, and Others)
At 5.1% CAGR, the North America Zinc Oxide market is speculated to be worth US$ 1102.17 million by 2028, says Business Market Insights
According to Business Market Insights’ research, The North America Zinc Oxide market was valued at US$ 780.40 million in 2021 and is expected to reach US$ 1102.17 million by 2028, registering an annual growth rate of 5.1% from 2021 to 2028. Growing bio medicinal use of zinc oxide and growing penetration of zinc oxide in rubber products are the critical factors attributed to the market expansion.
Zinc oxide has emerged with a promising potential in biomedicine, especially in the fields of anticancer and antibacterial, which can trigger excess reactive oxygen species (ROS) production, release zinc ions, and induce cell apoptosis. In addition, zinc is well known to keep the structural integrity of insulin. It has also been effectively developed for antidiabetic treatment. Moreover, zinc oxide nanoparticles have shown excellent luminescent properties and have turned them into one of the main candidates for bioimaging. Further, the US Food and Drug Administration (FDA) has conducted extensive research on the safety of zinc oxide for use as a color additive in drugs and skin protectant active ingredient and has stated that zinc oxide may be safely used in cosmetics. The FDA has also approved the use of zinc oxide in over-the-counter skin protectants and sunscreen at concentrations up to 25%. Thus, increasing bio medicinal usage is trending and expected to bolster The North America zinc oxide market growth during the forecasted years.
On the contrary, challenges faced in marketing the stringent government policies hurdles the growth of the North America Zinc Oxide Market.
Based on process, The North America Zinc Oxide market is segmented into French process, American process, wet process, and others. The French process held 72.3% market share in 2021, amassing US$ 564.03 million. It is projected to garner US$ 806.61 million by 2028 to expand at 5.2% CAGR during 2021–2028.
Based on grade, The North America Zinc Oxide market is segmented into standard grade, food grade, usp grade, and others. The standard grade segment held 51.9% market share in 2021, amassing US$ 405.21 million. It is projected to garner US$ 579.99 million by 2028 to expand at 5.3% CAGR during 2021–2028.
Based on application, The North America Zinc Oxide market is segmented into rubber, agriculture, chemicals and lubricants, glass and ceramic, paint and pigment, pharmaceutical, and others. The rubber segment held 38.1% market share in 2021, amassing US$ 297.23 million. It is projected to garner US$ 444.60 million by 2028 to expand at 5.9% CAGR during 2021–2028.
Based on country, The North America Zinc Oxide market has been categorized into the US, Canada, and Mexico. Our regional analysis states that US captured 77.7% market share in 2021. It was assessed at US$ 606.01 million in 2021 and is likely to hit US$ 866.10 million by 2028, exhibiting a CAGR of 5.2% during the forecast period.
Key players dominating The North America Zinc Oxide market are Silox SA, EverZinc, U.S. Zinc, Zochem, Umicore, Grillo-Werke AG, L. Bruggemann GMBH, and Akrochem Corporation among others.
- Feb-2022, the company has expanded their production capacity at their TN facility. It will add an additional 15000 tons to their capacity. This expansion will help fill the expected increased demand for French process zinc oxide in new applications such as the battery storage market, along with continued growth in durable products found in the agriculture, automotive, and specialty chemical sectors. Zochem’s approach is to continually focus on the greater good of all stakeholders, particularly our dedicated employees and customers.