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The global lead oxide market size is estimated to grow by 1,022.97 th tons at a CAGR of 7.81% between 2022 and 2027. The growth of the market hinges on several pivotal factors, notably the escalating demand from developing countries where industrialization and urbanization spur increased consumption. Furthermore, the thriving automobile industry drives demand for lead oxide, particularly in the production of lead-acid batteries essential for vehicle operation. This surge in demand reflects the market's response to the global shift towards electric vehicles and sustainable energy solutions. As developing economies witness rapid growth and infrastructure development, the need for reliable energy storage solutions intensifies, further bolstering the demand. With the automobile sector at the forefront of this demand surge, the market anticipates sustained growth in the foreseeable future, underpinned by the expanding footprint of the automotive industry and the increasing adoption of lead-acid batteries.
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The market is influenced by factors such as the Herfindahl–Hirschman index and GDP growth projection, impacting exporting countries and their lead-based industries. With the rise of electric vehicles and increasing battery production, demand for lead oxide, a key component in lead acid battery manufacturing, experiences a significant surge. Lead oxide finds extensive applications in various sectors, including fireworks manufacturing and battery house operations. Companies like Campine and PENOX GmbH adhere to ISO standards in lead oxide production, ensuring quality and reliability. The market's trajectory is shaped by influencing trend like the adoption of lead oxide in electric vehicle batteries and its role in sustainable energy storage solutions. As a compound of lead, it exists in multiple forms such as litharge, red lead, and lead suboxide, catering to diverse industrial requirements. With a study period spanning over years, the market reflects continuous innovation and adaptation to meet evolving demands across various applications such as oxygen (O), and massicot. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The developing economies of the world, including China, India, Brazil, Mexico, the Philippines, and Indonesia, are expected to drive the growth of the market. Due to factors such as low transportation costs, availability of land, cheap labor, raw materials, and less stringent government regulations, many OEMs of lead oxide are shifting their manufacturing activities to these countries. The increasing population, high disposable income, and growing purchasing power in APAC and Latin America are promoting incremental investment rates in automobiles and other manufacturing activities. Specifically, the increase in GDP of developing countries in APAC and Latin America is expected to drive the manufacturing industries in these regions, fostering the growth of the market.
However, the COVID-19 outbreak led to economic disruptions in many developing countries in 2020, with governments implementing lockdowns that caused the shutdown of manufacturing plants and supply chain disruption. India and China, the manufacturing hubs in APAC, were adversely affected. Nevertheless, with the lifting of lockdowns in May 2020 and the introduction of vaccines for COVID-19, the market is expected to reach pre-pandemic levels by the end of 2021, and the demand from developing countries is expected to increase post the pandemic.
Stringent regulations and policies are a major restraint in the market. The growing health concerns related to lead oxide manufacturing are expected to hinder the market. The constant push from regulatory agencies such as the Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) on environmental and sustainability issues is expected to impede market growth. When inhaled, the lead oxide can cause irritation to the lungs. In cases of accidental dosage, one might experience chest pain, metallic taste, and abdominal aches. When ingested, it will dissolve in gastric acid and result in lead poisoning with symptoms such as irritability, agitation, hypertension, vision disorders, and others. In the US, Title IV of the Toxic Substances Control Act (TSCA) and Residential Lead-Based Paint Hazard Reduction Act provides rules for the regulation of lead-based paint hazards.
Further, the EPA also has imposed strict guidelines pertaining to the recycling of lead-acid batteries. The recycling plants' lead must be sealed, and the smokestacks should be fitted with scrubbers. The plant perimeter must be surrounded by lead-monitoring devices. According to a study involving laboratory animals, lead oxide was proven to be carcinogenic. However, the carcinogenicity level for humans is yet to be proven. Lead exposure might also impair a child's intellectual functioning. For instance, the loss of intelligence quotient (IQ) of Indian children due to such a high lead level is resulting in USD 236.1 billion (12.5% of India's GDP) in economic productivity every year.
An increase in the use of lead glass in healthcare facilities is an ongoing trend creating opportunities for market players. Lead oxide finds significant application in the production of lead glass, which is primarily used for radiation shielding in healthcare centers. Due to the COVID-19 outbreak, several hospitals were established to cater to the infected patients, which led to a surge in demand for advanced medical equipment. As a result, there has been an increase in investments in building hospitals and expanding healthcare facilities worldwide.
For instance, the Prime Minister of the UK announced plans to invest USD 5.1 billion in building 40 hospitals by the end of 2030, while Kaiser Permanente announced an investment of USD 13 billion to increase the number of its centers in the Baltimore region by 2028. Additionally, hospital chains like Apollo and Fortis in India have resumed the expansion of their operations after the lockdown. The growing demand for radiation shielding equipment in healthcare centers is expected to drive the demand for lead glass, and consequently, lead oxide.
The market share growth by the lead II oxide segment will be significant during the forecast period. Lead (II) oxide, also known as lead monoxide, is an inorganic compound with the formula PbO. This particular oxide is mostly used in lead-based industrial glass and industrial ceramics, including computer components. It is the most common type of lead found in lead glass, and it is widely used in the production of glass.
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The lead II oxide segment was valued at 1,015.09 thousand tons in 2017 and continued to grow until 2021. Depending on the glass, the benefits of using lead (II) oxide in glass can include increasing the refractive index, decreasing the viscosity, increasing the electrical resistivity, and increasing the glass's ability to absorb X-rays. Adding lead (II) oxide to industrial ceramics (and glass) makes them more magnetically and electrically inert (by raising their Curie temperature), and it is frequently used for this purpose. Other less common applications include rubber vulcanization and the manufacture of certain pigments and paints. It is also used in cathode ray tube glass to block X-ray emission, but only in the neck and funnel because it can cause discoloration when used in the faceplate. As lead is a key component of automotive lead-acid batteries, the consumption of lead, and thus the processing of lead (II) oxide, is proportional to the number of automobiles. Thus, owing to such factors the segment is expected to grow during the forecast period.
The growing demand for lead oxide batteries in automotive, forklifts, uninterruptible power supply (UPS), solar power backup, and others are also expected to drive the demand. The automotive segment accounted for more than 70% of the share in the lead-acid battery application in 2020. The growing demand for passenger cars and two-wheelers is expected to foster more market demand.
APAC is estimated to contribute 57% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The growing demand for lead oxide applications such as lead-acid batteries, glass packaging, and paints is expected to foster the demand for lead oxide. The growing demand mainly originates from countries such as China, India, Australia, Japan, Indonesia, North Korea, the Philippines, and Malaysia. China is the largest consumer of lead oxide in this geographic segment. Moreover, the high potential of lead reserves in APAC, such as India, China, Australia, Kazakhstan, and North Korea, is expected to drive the demand. The availability of raw materials and less stringent regulations in APAC is also expected to drive the demand during the forecast period.
Moreover, the growth of the automotive industry in APAC is expected to drive market growth. In 2019, APAC accounted for around 42 million passenger cars. The growing demand for motorbikes and scooters in APAC is also expected to augment the market growth. Furthermore, the booming rate of residential and infrastructural activities in APAC is also expected to drive the demand for lead glass and paints, hence fostering the demand.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Colorobbia Holding S.P.A - The company focuses on the production and distribution of raw materials and semi-finished products for the ceramics and glass industry. The key offerings of the company include lead oxide products.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "Thousand tons " for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
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In the market, raw material suppliers play a crucial role in ensuring a steady supply of essential components such as minium and various lead oxides, including lead (Pb) compounds like lead(ii) oxide and lead dioxide. Used extensively in industries like glass making and as a white paint pigment, lead oxide finds applications in electric vehicle battery and automobile battery applications, reflecting the market's response to the growing demand for sustainable energy solutions. Companies like ACI Alloys are pivotal in providing high-quality lead oxide for diverse industrial needs. The market's trajectory is influenced by political factors and social scenarios, shaping about approach of stakeholders and their strategies. With a focus on sustainability and efficiency, aftermarket repair services and innovative solutions like those offered by Ace Matrix contribute to the market's growth and adaptation to changing trends and demands.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.81% |
Market growth 2023-2027 |
1,022.97 th tons |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.11 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 57% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ALB Materials Inc., Aldon Corp., Amtek Batteries, Colorobbia Holding S.p.A, Durox Chemical Products, Dynakrom, Galaxy Pigments Pvt. Ltd., Gravita India Ltd., Haihang Industry Co. Ltd., Hammond Group Inc., Hunan Hanhua Chemical Co. Ltd., Merck KGaA, Noah Chemicals, Oxford Lab Fine Chem LLP, Penox Group GmbH, Pilot Industries Ltd., Reade International Corp., Sisco Research Laboratories Pvt. Ltd., Thermo Fisher Scientific Inc., Waldies Co. Ltd., and Xinxiang Yangyuan Chemical Co. Ltd. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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