During the early months of 2023, the Asia Pacific region saw a surge in zinc oxide demand across various industries, thanks to consistent supply and the importation of pricier products. However, as the year progressed, demand took a hit due to soaring inflation rates and reduced market activity, notably within the automotive industry. The oversupply of zinc oxide stemmed from increased production capacities in mining mills, leading to a downward spiral in prices. In Europe, market challenges arose from disruptions caused by the Russia-Ukraine crises, resulting in a gradual price decline throughout both quarters. Meanwhile, North America faced a similar trend with dwindling zinc oxide prices, influenced by low demand, inflationary pressures, and an economic downturn.
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Definition
Zinc oxide is an inorganic compound with the chemical formula ZnO. Zinc oxide has numerous industrial applications due to its unique properties, including anti-corrosion abilities, and antimicrobial properties. It is also widely used in sunscreens and cosmetics for its UV protection. Additionally, it serves as a key ingredient in rubber manufacturing, ceramics, paints, coatings, electronics, and various other sectors. Its versatility and beneficial attributes make zinc oxide a valuable compound across diverse industries.
Key Details About the Zinc Oxide Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Zinc Oxide in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Zinc Oxide Price forecast, including India Zinc Oxide price, USA Zinc Oxide price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Zinc Oxide Price Trend:
During the early months of 2023, the Asia Pacific region saw a surge in zinc oxide demand across various industries, thanks to consistent supply and the importation of pricier products. However, as the year progressed, demand took a hit due to soaring inflation rates and reduced market activity, notably within the automotive industry. The oversupply of zinc oxide stemmed from increased production capacities in mining mills, leading to a downward spiral in prices. In Europe, market challenges arose from disruptions caused by the Russia-Ukraine crises, resulting in a gradual price decline throughout both quarters. Meanwhile, North America faced a similar trend with dwindling zinc oxide prices, influenced by low demand, inflationary pressures, and an economic downturn.
Key Players:
- Ace Chemie Zynk Energy Limited
- AG CHEMI GROUP
- LANXESS
- Tata Chemicals Ltd
- TOHO ZINC CO LTD
- TP Polymer Private Limited
- Yongchang Zinc Industry Co Ltd
- Zochem Inc
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