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Opacifiers Market Growth Projections and Opportunities
The zinc oxide market around the world is expected to get bigger by about 5.85% each year from 2018 to 2023. By the end of 2023, it might be worth around USD 4,946.26 million.
More and more people are using zinc oxide in things like makeup, medicine, paint, ceramics, and rubber. This is a big reason why the market is growing. Also, industries like rubber and medicine are using zinc oxide more, and it's also getting popular in electronics.
But there are some problems that might slow down the market's growth. Rules from the European Commission about using zinc oxide in certain products might cause some issues. Also, in Asia-Pacific, there might not be enough leftover zinc, which could be a problem for the market.
The market is split into different parts based on how it's made, what it's used for, who uses it, and where it's used. For example, there are different ways to make zinc oxide, like direct and indirect processes. The indirect process is the most common because it's used in lots of things like rubber and paint.
When it comes to what zinc oxide is used for, there are lots of things like rubber, ceramics, paint, medicine, and more. Rubber is the biggest user of zinc oxide, especially in making tires. Cosmetics are starting to use it more too, especially after it got approved to use in sunscreens by the European Commission.
Different industries use zinc oxide too. Cars and buildings use it a lot, and personal care products are using more of it, especially in places like Asia-Pacific and Latin America.
In 2017, Asia-Pacific was the biggest market for zinc oxide, and it's expected to keep growing fast. This is because there's a big demand for zinc oxide in industries like cars, buildings, and personal care products, and the government rules in this area might help it grow even more.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 16.5 Billion |
| Market Size Value In 2023 | USD 17.29 Billion |
| Growth Rate | 4.80% (2023-2032) |
Opacifiers Market Highlights:
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