According to MarkNtel Advisors, the Mexico Zinc Oxide Market is expecting around 2.8% CAGR during 2022-27. The growth of the market is driven primarily by the escalating application of zinc oxide in rubber, cosmetics & personal care, pharmaceuticals, food & beverage, and chemical industries due to its biocompatibility, non-toxicity, UV-absorbing, & notable antibacterial properties.
Due to its antibacterial & UV filter properties, Zinc oxide is a crucial ingredient in the manufacturing process of various cosmetic & personal care products like baby lotions, foot powders, bath soaps, sunscreens, colorants, skin protectants in OTC drugs, etc.
As a result, the increased sales of cosmetic & personal care products in the country are amongst the key factors encouraging companies to expand their production capacities, which, in turn, would strongly contribute to the growth of the Mexico Zinc Oxide Market in the coming years.
Rubber Industry to Contribute Significantly to the Zinc Oxide Market during 2022-27
Mexico's rubber industry is the leading end-user of the Zinc Oxide Market. Zinc oxide acts as a key component in the vulcanization process of rubber, which leads to its increased requirement in the automotive sector, mainly for tire production. Hence, the growing sales of automotive vehicles are ascertaining the demand for rubber in tires, which, in turn, is surging the production of zinc oxide across the country.
Many tire companies, such as Pirelli, Michelin, Bridgestone, Kal Tire, etc., are massively investing in Mexico to enhance their production capabilities and meet the requirement of customers. For instance:
Hence, a rise in the production of tires would necessitate the demand for zinc oxide, which would ascend the market growth in the foreseen years.
Standard Grade Zinc Oxide seizes Considerable Share in the Mexico Zinc Oxide Market
The standard grade is the universal zinc oxide used in almost every industry and captured a significant share in the Mexico Zinc Oxide Market. The growth in the cosmetic & personal care, automotive, construction, & medical industries has driven the demand for standard grade zinc oxide to manufacture personal care, rubber, & ceramic products. For instance:
Moreover, the cosmetic industry holds significant importance in Mexico’s economy. The demand for cosmetic products is soaring among the Mexican population due to growing consciousness regarding skin & beauty, improved consumer lifestyle, rise in the number of women employees, etc. Hence, it has positively impacted the production & sales of zinc oxide in Mexico's cosmetic industry, reveals MarkNtel Advisors in their research report, “Mexico Zinc Oxide Market Analysis, 2022.”
Key Market Competitors
According to MarkNtel Advisors, the leading players in the Mexico Zinc Oxide Market are Zinc Nacional, Brenntag, RE Caroll Inc., Zochem Inc., Glencore, Lanxess, PAN Continental Chemical, & Weifang Longda Zinc Industry.
Key Questions Answered in the Study