Solid Growth Expected for Zinc Oxide through 2021
The growing demand for zinc oxide in the production of varistors, ferrites, and solar cells is expected to propel growth during the forecast period.
The global zinc oxide market is projected to grow at a compound annual growth rate (CAGR) of 3.94% from 2017-2021, according to a recent report available from Research and Markets. Zinc oxide is seeing increasing use in the semiconductor industry. The growing demand for zinc oxide in the production of varistors, ferrites, and solar cells is expected to propel growth during the forecast period. Global sales of semiconductors reached more than $325 billion in 2016 and are expected to grow during the forecast period, which will drive the demand for zinc oxide.
Another driver in the market is increasing demand for nano-sized zinc oxide. Nano-zinc oxide is a specialized nanomaterial that is mainly available in the form of dispersions and powders. It reportedly exhibits excellent physiochemical characteristics such as anticorrosion, antifungal, antibacterial, catalytic, and UV filtering properties.
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