According to MarkNtel Advisors study the Mexico Zinc Oxide Market is projected to grow at a CAGR of 2.8% during the forecast period, i.e., 2022-27.
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Key Findings of the Study: Mexico Zinc Oxide market
Key Driver: Escalating demand for Zinc Oxide in Rubber Industry
The expansion in Mexico's automotive industry is one of the key contributors to the rising demand for zinc oxide since it is utilized in the rubber industry for manufacturing tires other parts. Mexico is home to tire manufacturers such as JK Tornel, Bridgestone, etc., for several passenger commercial vehicles.
The strategic location of Mexico helps in trade between North American Central American markets, where road transportation plays a key role. It has positively impacted the demand for trucks in the country and provided more opportunities for the players to offer truck tires.
In 2019, Cooper Tires Rubber Company announced manufacturing a new line of tires in Jalisco, Mexico, which would include tires for passenger cars trucks. Moreover, the growth in the e-commerce sector and increasing construction activities mining projects in the country are anticipated to boost the demand for trucks and, in turn, for zinc oxide while manufacturing their tires. For instance:
- In November 2019, the Mexican government and private sector representatives announced the first package of an ambitious “Private-Sector-Led” USD 424 billion infrastructure plan. It identifies 147 projects out of an estimated 1,600, totaling USD 43 billion. The overall plan covers transportation, telecommunications, water sanitation, energy, tourism, and social welfare.
For more detailed information about the Mexico Zinc Oxide market report, click here – https://www.marknteladvisors.com/research-library/mexico-zinc-oxide-market.html
Scope of the Report and Mexico Zinc Oxide Market Segmentation:
By Application
- Rubber Industry
- Ceramic Industry
- Pharmaceuticals
- Food Beverages
- Paints, Coatings Pigments
- Personal Care
- Others (Chemicals, Automotive, etc.)
By Grade
- Standard
- Treated
- United States Pharmacopia (USP)
- Food and Chemical Codex (FCC)
By Process
- Indirect Process or French Process
- Wet Process
- Direct Process or American Process
Here, Standard Grade captured a considerable share in the Mexico Zinc Oxide Market during 2017-20 owing to its extensive application in rubbers ceramics due to its purity ranging between 99-99.5%.
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