Global zinc oxide pigment market has seen steady growth in paints and ceramic applications over the last decade and is expected to witness similar trend over the next seven years. High degree of optical, biochemical and physical properties has increased the significance of these pigments over other metal pigments. Owing to its high cohesion, anti-corrosive and chemical stability the pigment has witnessed increased demand in rubber and paint industry.
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Increased demand for fuel efficient automobiles is expected to positively affect pigment demand in both rubber and engine oil markets. Due to its anti-oxidant, anti-corrosion and high cohesion properties, the pigment forms a thin film over metal parts and improves lubricity & longevity of the automobile engines. The pigment is also mixed with other additives so as to meet demand of lubricants and paint industries. Good heat conductivity, resistance to compression fatigue coupled with sulfur neutralizing ability has led pigments to play a critical role in rubber making processes. Wide range of rubber quality requirements in automobile industry is passed on to tire suppliers. Increased disposable income coupled has resulted in higher automotive sales in emerging economies, this factor is expected to drive zinc oxide manufacturing sector.
Availability of wide range of color pigments has led to its surging demand in architectural and industrial applications. Owing to its biocidal & low reactivity along with UV absorption characteristics, zinc oxide is used as a major ingredient in paint manufacturing process. Increased concern over lead pollution has urged the paint industry to look for alternatives in lead free paint segment. Aforementioned factors are expected to positively affect the demand for high ore grade from suppliers in mining industry. This provides an opportunity for R&D initiatives in improvisation of both upstream and downstream tiers of the value chain.
Price hikes coupled with volatile currency exchange are expected to negatively affect global trade with greater impact on importing markets. Surging demand for end-use products in rubber, ceramic, paint and pharmaceutical industries is expected to steer forward the monetization of R&D projects. U.S., Middle East, and Australia along with South Asia and Nordic regions are major consumers of zinc oxide pigments. Major companies in the global market include BASF S.A., Zinc Nacional, Pan-Continental Chemical Co. Ltd. GH Chemicals, Hakusui Tech Company Ltd, U.S. Zinc, Korea Zinc Ltd. and Alliance Organics LLP.
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