Global Zinc Dust Market Is Estimated To Witness High Growth
The global zinc dust market is estimated to be valued at US$ 369.15 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
· Strength: Zinc dust has high corrosion resistance properties, and it acts as an effective sacrificial anode. It is a sustainable material due to its high recyclability. It is cost effective and has a wide range of applications.
· Weakness: Exposure to zinc dust can cause health issues like metal fume fever. Strict environment regulations regarding mining and production of zinc dust can increase costs.
· Opportunity: Increasing use of zinc dust in various end-use industries like automotive, construction, and agriculture offers significant growth opportunities. Growing demand for galvanization from developing nations provides a platform for market expansion.
· Threats: Volatility in prices of raw materials required for zinc dust production can pose major threats. Substitutes like aluminium dust and magnesium dust can hamper the market growth.
Key Takeaways:
The Global Zinc Dust Market Size is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing usage in galvanization applications. Zinc dust finds usage in hot-dip galvanization process to protect steel and iron from corrosion, thereby driving the market growth.
Regional analysis Asia Pacific dominated the global zinc dust market in 2023 and is estimated to maintain its dominance over the forecast period. This is attributed to presence of emerging economies like China, India, Indonesia, and Vietnam where zinc dust demand is high. China is the leading producer as well as consumer of zinc dust globally.
Key players operating in the zinc dust market are EverZinc, S. Zinc, Numinor Chemical Industries Ltd., Hanchang, Silox India Private Limited, Metal Powder Company Limited (MEPCO), Toho Zinc Co., Ltd., Hakusui Tech Co., Ltd., Pars Zinc Dust Manufacturing Co. (PZD), and Jiangsu Shenlong Zinc Industry Co., Ltd. These players are involved in expansion strategies to strengthen their market position.
Read More - https://makuv.com/iot-connectivity-is-the-fastest-growing-segment-fueling-the-growth-of-zinc-dust-market/
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