Zinc oxide is an inorganic chemical compound that is in demand because it is used in the electronics and semiconductors. The zinc oxide market has been expected to earn high revenue worth US $ 4,946.26 mn while growing at a CAGR of 8.37% by 2023. The penetration of zinc oxide in the rubber industry and its surging demand in the pharmaceuticals, cosmetics, & personal care, and industries are the factors driving the market growth.
Analyzing the market structure, this report offers insights about factors affecting the market growth. Estimating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R&D), and strategic alliances.
Increasing demand for the product in semiconductor and electronics is advancing the growth of the global zinc oxide market.
Detailed Regional Analysis
The regional analysis of the zinc oxide market covers regions such as Europe, Asia Pacific, North America, Latin America and the Middle East & Africa (MEA). North America is the largest regional market. In 2017, it held the largest market share of 70.23% worth US $ 164.7 mn. During the forecast period, possibly, it may grow at a 5.40% CAGR. The most important country-specific markets in this region are USA and Canada. Many key market players are based in North America. In the region, the market is growing due to the existence of various industries that require zinc oxide.
In Europe, the market growth is due to the technological advancement that is second only to North America. Industries that require zinc oxide are steadily growing here. Many key market players are based in this region too. The market growth for Europe is expected to register a 5.01% CAGR during the forecast period. The primary country-specific markets in this region are Belgium, France, Germany, Italy, the Netherlands, Poland, Spain, and the UK.
During the forecast period, the Asia Pacific stands a strong chanced to emerge as the fastest growing market during the forecast period at 6.37% CAGR due to rapid urbanization, rapid industrialization, rising technological advancement. The crucial country-specific markets in this region are Australia & New Zealand, Brunei, China, Cambodia, India, Indonesia, Japan, Laos, Malaysia, Myanmar (Burma), Philippines, Singapore, South Korea, Thailand, and Vietnam, followed by the remaining countries of the Asia Pacific region.
In the MEA region, the market is small. It is slowly growing due to limited technology, limited production, lack of awareness, lack of education, and political instability. During the forecast period, the market in the MEA region is expected to grow at 5.61% CAGR. Significant country-specific markets in this region are Saudi Arabia, UAE, and South followed by the remaining countries of the MEA region.
In Latin America, the market growth calculations predict growth at 7.81% CAGR during the forecast period because here the market is steady due to limited economic growth. The major country-specific markets in this region are Argentina, Brazil, and Mexico, followed by the remaining countries of Latin America.
Competitive Analysis
The outlook for growth in the zinc oxide market is competitive due to the efficient application of strategies such as geographic expansion, new product launch, acquisitions, agreement, and R&D to strengthen their business portfolio. The key players profiled in the zinc oxide market are Advanced Nano Products Co. Ltd., American Zinc Recycling LLC, Befesa, EverZinc, GHC Ltd., Grillo-Werke AG, Marzinc, PontenossaSPA, Miike Smelting Co. Ltd., Nyrstar, Recylex, Symrise, US Zinc, Weifang Longda Zinc Industry Co. Ltd., and Zochem LLC.
Segmental Analysis
The zinc oxide market is segmented on the basis of application, end user, process, and region.
The application-based segmentation segments this market into animal feed & nutrition, ceramics, cosmetic ingredients, fertilizers, food additives, light emitting diodes, lubricants, metal processing, paints & coatings, pharmaceuticals products, rubber, and others. During the forecast period, cosmetic ingredients segment has been estimated to grow at 9.50% CAGR.
Based on end users, the zinc oxide market COVID-19 Impact segmentation covers the automotive, building & construction, food & beverages, healthcare, metallurgy, personal care, and others. Automotive segment controlled the largest market share of 36.04 % in 2017. Its market value of USD 1,257.2 million. During the forecast period, it may grow at 4.36% CAGR. During the forecast period, the personal care segment is going to be the highest growing segment, and its worth is the US $ 279.93 mn.
In the context of process-based segmentation, the market has been segmented into direct, indirect, laboratory, waelz, wet, and ZnO nanostructures. Indirect segment held the largest market share of 36.21% in 2017, and its market value was US $ 1,263.2 mn. During the forecast period, it has been projected to grow at 5.53% CAGR. However, during the forecast period, Waelz has been estimated to grow at the highest CAGR of 7.05%.
The regions covered in the global market are Europe, Asia Pacific, North America, Latin America and the Middle East & Africa (MEA).
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Zinc oxide is an inorganic chemical compound that is in demand because it is used in the electronics and semiconductors.
Estimating the market size and forecasting the revenue, this reports covers and observes the competitive developments of market players that include joint ventures, mergers and acquisitions, new product developments, research and developments (R), and strategic alliances.Increasing demand for the product in semiconductor and electronics is advancing the growth of the global zinc oxide market.Segmental AnalysisThe zinc oxide market is segmented on the basis of application, end user, process, and region.The application-based segmentation segments this market into animal feed & nutrition, ceramics, cosmetic ingredients, fertilizers, food additives, light emitting diodes, lubricants, metal processing, paints & coatings, pharmaceuticals products, rubber, and others.
Indirect segment held the largest market share of 36.21% in 2017, and its market value was US $ 1,263.2 mn.
During the forecast period, possibly, it may grow at a 5.40% CAGR.
The crucial country-specific markets in this region are Australia & New Zealand, Brunei, China, Cambodia, India, Indonesia, Japan, Laos, Malaysia, Myanmar (Burma), Philippines, Singapore, South Korea, Thailand, and Vietnam, followed by the remaining countries of the Asia Pacific region.In the MEA region, the market is small.
It is slowly growing due to limited technology, limited production, lack of awareness, lack of education, and political instability.
Market Scope Market Research Future (MRFR) studied the global sunglasses market 2021 for the review period till 2024.
By 2024, the sunglasses market value can touch USD 37.43 Bn.Drivers and Restrains Impacting Sunglasses MarketThe growing adoption of sunglasses to prevent eyes from the harmful UV rays is expected to prompt the growth of the sunglasses market.
Thus, the availability of high quality, esthetical lenses glass that meet the preference of customers can prompt the expansion of the sunglass market in the years to come.
The availability of expertise to check and control quality of feedstock and their affordable purchase rate can prompt the market growth in the near future.The introduction of different types of sunglass lenses, such as; polarized lenses that help in eliminating glare due to reflection and ease driving and outdoor activities, can support the market growth.
(Italy), Revo Holdings, LLC (US), Marchon Eyewear, Inc. (US), Randolph Engineering, Inc. (US), Alexander McQueen Trading Limited (UK), Fielmann AG (Germany), Maui Jim (US), Eyeking LLC (US), and Nike, Inc. (US) are some of the key players in the global sunglasses marketSegment Assessment of Sunglasses MarketThe global sunglasses market has been segmented based on type, distribution channel, and region.
On the basis of distribution channel, the global market has been bifurcated into store-based and non-store-based.
Many key players in beverages market are investing in R so as to focus on product development which enriches the flavors in flavored milk.
Moreover, flavored milk is gaining popularity across the globe, as the demand for healthy food & beverages has been increasing in recent years.
Access Report Details @ https://www.marketresearchfuture.com/reports/flavored-milk-market-5458Market Forecast:The global flavored milk market is witnessing an impressive growth over the last few years.
This is attributed to the shifting consumer preferences among the population of both developed and developing economies.
Apart from that, the companies are introducing their products in the developing economies in order to penetrate the untapped market.
Among all the flavor’s, the chocolate segment holds the major market share followed by the vanilla segment.On the basis of the packaging material, it is segmented into plastic, glass, paper, metal, and others.
According to the research report by Research Report Insights, the global automotive drive shafts market was valued at US$5.3 bn in 2015 and is likely to be worth US$8.9 bn by the end of 2024. During the forecast years of 2016 and 2024, the global market is expected to progress at a CAGR of 6.1%.
Heavy Commercial Vehicles to be Prime Consumers of Automotive Drive Shafts
On the basis of vehicles, the market is split into passenger cars, heavy commercial vehicles, and light commercial vehicles. Of these, the heavy commercial vehicles are expected to show steady growth rate in the coming years due to their demand in the transportation industry. The research report states, that the heavy commercial vehicles segment will rise at a CAGR of 6.2% between 2016 and 2024. The increasing demand for automotive shafts in production and serving of heavy-duty trucks is estimated to provide an impetus to the segment in the coming years.
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Geographically, the market is segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. Asia Pacific is poised to remain the leading regional market in the coming years as the demand for automobiles and their production picks up pace. The report estimates, that Asia Pacific automotive drive shafts market will rise at a CAGR of 6.5% between 2016 and 2024.
Repair and Replacement of Old Parts Augments Demand for Automotive Drive Shafts through After-sales Services
The global automotive drive shafts market has been growing due to the unstoppable production of vehicles in emerging economies of Taiwan, India, China, and Singapore amongst others. As economies limp back to normalcy after the depression of 2008, the production and sales of automobiles and their parts have steadily risen to generate soaring revenues. In the coming years, the increasing investments in automobile manufacturing, especially in countries such as China, is likely to boost the automotive drive shafts market.
The demand for automotive drive shafts has also been increasing as they are the most critical parts of a vehicle. As they are known to working under continuous pressure and stress, they undergo severe damage, which demands their replacement or repair. Thus both of these factors are expected to propel the sale of automotive drive shafts in developing and developed countries.
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Emerging Trend of Electric Vehicles to Impede Market Growth
Despite the steady market drivers, the global automotive drive shafts market is facing a tough challenge. The rising trend of electric cars against the backdrop of emerging pollution concerns is expected to restrain the growth of the market. Electric cars operate on batteries, which can be charged. Thus, they completely eliminate the need for automotive drive shafts. Analysts state, “if this trend is to grow rapid as countries work on reducing carbon footprint it could negatively impact the global market”.
The global automotive drive shafts market has several players in the market, making the landscape fragmented. Some of the leading players in the market are Dana Holding Corporation, NTN Corporation, Hyundai Wia, and Yamada Manufacturing Co., Ltd. The companies are focused on development of new products with enhanced quality. To deal with competition, several players will emphasize on mergers and acquisitions to expand their geographical reach and penetrate into many other foreign markets.
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The global automotive drive shafts market has been segmented as follows:
Global Automotive Drive Shafts Market, By Vehicle Type
- Passenger Cars
- Heavy Commercial Vehicles
- Light Commercial Vehicles
Global Automotive Drive Shafts Market, By Shaft Type
- Hotchkiss Drive Shaft
- Flexible Drive Shaft
- Torque Tube Drive Shaft
Global Automotive Drive Shafts Market, by Position Type
- Front Wheel Drive Shaft
- Rear Wheel Drive Shaft
Global Automotive Drive Shafts Market, By Geography
- North America
- The U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- Italy
- France
- RoE (Rest of Europe)
- Asia Pacific
- India
- Japan
- China
- RAPAC (Rest of Asia Pacific)
- Middle East and Africa (MEA)
- U.A.E
- South Africa
- RMEA (Rest of Middle East and Africa)
- Latin America (LATAM)
- Brazil
- Argentina
- Rest of Latin America (RLATAM)
