Zinc borate possesses fire resistance properties. It is largely used as a fire retardant compound in plastic, rubber, textile, and paper industries. It is useful as a smoke suppressant in industrial applications. Zinc borate is widely used in the manufacture of paints, pigments, and adhesives. As fire retardant, zinc borate can replace antimony oxide in the system of halogen bases and halogen-free systems. Zinc borate possesses anti-dipping properties that suppress the afterglow effect. Its insulation property reduces arching and tracking effects of electricity. Zinc is used with antimony trioxide and alumina trihydrate along with other halogen-containing compounds. Zinc borate is highly used in the manufacture of polyvinyl chloride, polyamides, polyolefin, epoxy resins, thermoplastics elastomers, polyester, and rubber. The compound provides a synergistic effect with zinc phosphate and barium borate. Zinc borate is an essential compound used in the manufacture of fertilizers, fungicides, and other agrochemicals. Zinc borate also has excellent properties for ceramic glazing with outstanding electrical conductivity. Therefore, its electric conductive properties are utilized in producing high electricity conducting products.
Increase in electricity consumption is propelling the demand for high-performance insulation materials. This is expected to fuel the zinc borate market during the forecast period. Zinc borate is largely used in the manufacture of insulation products, especially in the electronics industry. This is propelling the demand for zinc borate. Rise in usage of plastic polymers across the globe due to low cost and excellent durability is projected to boost the demand for zinc borate during the forecast period.
Zinc Borate Market: Segmentation
Based on product type, the global zinc borate market can be segmented into zinc borate firebrake FB, zinc borate firebrake 500, zinc borate firebrake 415, ZB-467, and ZB 223. The zinc borate firebrake FB segment is expected to account for dominant share of the market due to its superior chemical properties. Based on end-user industry, the global zinc borate market can be divided into plastic, rubber, paper, textile, ceramic, paint, and agriculture. The plastic segment is anticipated to constitute major share of the market during the forecast period. Rise in consumption of plastic in a number of applications in which zinc borate is used to manufacture PVC, nylon, elastomers, and polyesters products anticipated to propel the zinc borate market during the forecast period.
Zinc Borate Market: Region-wise Outlook
Based on region, the global zinc borate market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to be the dominant region during the forecast period. High demand for flame retardant wires, wherein zinc borate is widely used, across the U.S. is projected to boost the zinc borate market in the region. After North America, Asia Pacific is expected to account for prominent share of the global market during the forecast period. Growth of plastic and rubber industries in countries such as China, Japan, South Korea, and Malaysia is fuelling the demand for zinc borate compound in the region. Zinc borate is highly used in plastic and rubber industries owing to its superior chemical compatibility with plastics. This is driving the zinc borate market in Asia Pacific. The market in Europe is projected to expand at a moderate pace during the forecast period. Presence of prominent paint and adhesive industries across Europe is fueling the zinc borate market. The market in Latin America and Middle East & Africa is projected to expand at a sluggish pace compared to that in North America in the near future. Rapid development and upcoming major investments in Brazil, Africa and other emerging markets are anticipated to boost the demand for zinc borate in the next few years.
Zinc Borate Market: Key Players
Major companies operating in the global zinc borate market include Rio Tinto, Niknam Chemicals Pvt Ltd., Societa Chimica Larderello, Lanxess Aktiengesellschaft, Royce Chemical Company, Huber Engineered Materials, Borax Morarji Limited, Wallace Fr Ltd, and Zibo Bainisi Chemical Co. Ltd.
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