According to the latest research report published by MarkNtel Advisors, the Mexico Zinc Oxide Market is projected to grow at a CAGR of 2.8% during the forecast period, i.e., 2022-27. Zinc oxide has numerous applications in various products and materials owing to it being an inorganic compound and insoluble in water, thus performing as an activating means.
Moreover, several manufacturers of cosmetics have their headquarters in Mexico that manufacture cosmetics on a local scale. Zinc oxide is capable of being a great sunscreen agent, and works wonders for customers having sensitive skin. Along with this aspect, the rising awareness of consumers concerning the effect of sun exposure on the skin is fueling the Mexico Zinc Oxide Market. Additionally, the report also highlights that the prompt expansion of Mexico’s automotive sector contributes substantially to the rising demand for zinc oxide.
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Key Market Players Acquiring the Front Row in the Mexico Zinc Oxide Market
Zinc Nacional, Brenntag, RE Caroll Inc., Zochem Inc., Glencore, Lanxess, PAN Continental Chemical, Weifang Longda Zinc Industry, and Others, are counted among the prominent companies that hold a significant amount of market share in the Zinc Oxide Market of Mexico.
Analyzing the Segmentation of the Mexico Zinc Oxide Market
· By Application (Rubber Industry, Ceramic Industry, Pharmaceuticals, Food & Beverages, Paints, Coatings & Pigments, Personal Care, and Others (Chemicals, Automotive, etc.))
· By Grade (Standard, Treated, United States Pharmacopeia (USP), and Food and Chemical Codex (FCC))
· By Process (Indirect Process or French Process, Wet Process, and Direct Process or American Process)
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The Rubber industry segment grasped a prominent share in the Mexico Zinc Oxide Market over the historical years of 2017-19 owing to its massive utilization in the production of tires to meet the requirements of the automotive industry. Further, the application and utilization of zinc oxide as an activating agent in the vulcanization of rubber to heighten its resilience is also leading to the segment’s growth. Moreover, the high-temperature resistance of zinc oxide makes it a highly demanded component in the rubber industry facilitating the automotive sector. Moreover, the upsurge in the country’s tire manufacturing to meet the continuously increasing demand from the automotive industry is likely to propel the segment’s growth further boosting the overall market.
The Lack of Semiconductor Chips Globally is Likely to be a Possible Limitation in the Mexico Zinc Oxide Market
The Automotive sector has been facing an acute scarcity of semiconductors since December 2020, owing to the fluctuating attention of semiconductor manufacturers to meet the diverse demand in industries, including consumer electronics, telecommunications, and home automation. Moreover, the shortage of chips caused numerous automotive manufactures to provisionally shut their production services, which gravely impacted the demand for tires and led to their concentrated production. This temporary closing of automotive production plants created a hurdle for the demand for zinc oxide.
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