Zinc Oxide Market is Set to Grow to USD 9.03 Billion by 2032 with a CAGR of 5.7% | SNS Insider

The growth in the market is driven by the increasing use of zinc oxide in various applications including, cosmetics, rubber, and ceramics.

AUSTIN, TX, UNITED STATES, November 26, 2024 /EINPresswire.com/ --
The Zinc Oxide Market was valued at USD 5.5 Billion in 2023 and is expected to reach USD 9.03 Billion by 2032, growing at a robust CAGR of 5.7% over the forecast period from 2024 to 2032.

Zinc oxide, an essential compound used across various industries, including rubber, cosmetics, pharmaceuticals, and electronics, is experiencing substantial growth due to its widespread applications and growing demand for eco-friendly solutions.

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Key Players Listed in Zinc Oxide Market Are:

•LANXESS
•Zochem
•EverZinc
•S. Zinc
•Neo Zinc Oxide
•Tata Chemicals Ltd.
•Upper India
•Pan-Continental Chemical Co. Ltd.
•Zinc Oxide Australia
•Rubamin
•Ace Chemie Zynk Energy Limited
•Akrochem Corporation
•Weifang Longda Zinc Industry Co. Ltd.
•AG CHEMI GROUP
•Yongchang zinc industry Co. Ltd.

Market Drivers: Increasing Demand Across Key Industries

This growth is released due to various globalization, such as this is majorly due to the increasing utilization of zinc oxide in the rubber industry, mostly as a vulcanizing agent owing to its outstanding properties. In addition, the growing application of zinc oxide in pharmaceutical and cosmetic industries for its antibacterial and ultraviolet-blocking properties is also boosting the growth of the market. Moreover, with the growing usage in various industries, such as paints coatings, and electronics, for manufacturing eco-friendly products, the demand for zinc oxide is on the rise, as it is regarded as a non-toxic, biodegradable product.

According to the U.S. Department of Commerce, demand for zinc oxide by end-use industries that require zinc oxide for agricultural and chemical purposes has increased significantly due to its role in plant growth and protection against environmental pollutants. Besides this, increasing demand for agricultural applications in North America, especially in the US, coupled with the trend toward sustainable products, has yet increased its application in this area, thus adding fuel to the burning growth of the zinc oxide market.

Segment Analysis: Dominating and Fastest-Growing Segments

By Grade: The "Standard" grade is the leading segment within the Zinc Oxide Market due to its versatile applications across various sectors, such as rubber manufacturing and paints and coatings. The United States Pharmacopeia (USP) grade is gaining traction due to its higher purity, making it essential in pharmaceuticals and healthcare applications. Among all, the Standard grade continues to dominate owing to its cost-effectiveness and wide usage.

By Process: In 2023, the indirect (French) process accounted for the largest revenue share of approximately 78.5% of the zinc oxide market. It was previously known faster process of production; thus, it is also known as an efficient production method due to its properties. The type of zinc used to form the ZnO has the potential to move the quality of ZnO made in a fundamentally different way. As an example, gold seals or ZnO of pharmacopoeial purity are produced via special high-grade zinc of 99.99% concentration, but conventional Zn of 99.95% concentration is adequate for the zinc for the rubber industry. Note: the top yield of ZnO you can get per ton of special high-grade zinc will not exceed 1.2 tons.

By Form: The segment of powder form generated the largest revenue in 2023, representing 76.9% of the total revenue, and is projected to maintain its dominance during the forecast period. This constitutes the reason for the increasing use of it in sectors such as batteries, lubricants, friction materials, gold extracting, silver extracting, spray galvanizing, etc. Powdered zinc oxide is most commonly used to provide UV and corrosion protection for paints, and to act as a catalyst in multiple chemical processes. Irregular igneous particles of a very fine zinc oxide powder are in the order of 4-10 microns. Also, it is used in the production of zinc-rich paint formulations and in the manufacture of chemicals including sodium hydrosulfite, zinc phosphide, and so on. Fine powder ZnO is mainly used in multiple utility industries, one of the main reasons being its character.

Key Market Segmentation:

By Grade

•Standard
•United States Pharmacopeia (USP)
•Treated
•Food and Chemical Codex (FCC)
•Others

By Process

•Direct (American) Process
•Indirect (French) Process
•Wet Chemical Process
•Others

By Form

•Powder
•Liquid
•Pellets

By Application

•Rubber
•Chemical
•Paints & Coatings
•Ceramics
•Cosmetics and Personal Care
•Automotive
•Construction
•Agriculture
•Pharmaceuticals
•Electronics & Semiconductors
•Others

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Regional Analysis

The Asia-Pacific region held the largest market share around 51.2% in 2023. It is driven by rapid industrialization, urbanization, and a growing demand for eco-friendly products. Countries like China and India are major consumers, leveraging zinc oxide for applications in rubber, paints, and cosmetics. The region's growing manufacturing base, especially in automotive, construction, and electronics, is creating a surge in the demand for zinc oxide. Companies like KZInc and China National Chemical Corporation are key players in the region, providing zinc oxide for a variety of end-use industries. Additionally, the rising focus on environmental sustainability in Asia-Pacific countries is propelling the market, as zinc oxide is often preferred for its low environmental impact compared to alternative chemicals.

Fastest Region: North America

North America is the fastest-growing region in the Zinc Oxide Market, primarily driven by the increasing demand for zinc oxide in the rubber, pharmaceutical, and cosmetics industries. The United States is the largest consumer of zinc oxide in this region, with significant contributions from automotive manufacturers and the agricultural sector. The regulatory support for sustainable and non-toxic products further strengthens the market position of zinc oxide in the region. Companies such as U.S. Zinc and Zinc Nacional play a crucial role in the production and supply of zinc oxide within North America, with applications ranging from tire manufacturing to sunscreen products. The strong presence of major chemical companies also boosts regional growth, supported by substantial investments in product innovation.

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Recent Developments

•In September 2023, U.S. Zinc launched a new line of high-purity zinc oxide designed specifically for use in the pharmaceutical and food industries. This innovation aims to meet the increasing demand for safe and eco-friendly ingredients in these sectors.

•In March 2024, Zinc Nacional announced an expansion of its manufacturing capacity in Mexico to meet growing demand from the Asian market. The expansion will focus on increasing production of both powdered and liquid forms of zinc oxide, targeting the rubber and electronics industries.

•In July 2024, the Indian company, Gujarat Zinc, unveiled a new zinc oxide product aimed at the growing demand for UV-blocking agents in the personal care and cosmetics market. The product line is designed to meet international safety standards while promoting sustainable skincare solutions.

Table of Content

1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Zinc Oxide Market Segmentation, By Grade
8. Zinc Oxide Market Segmentation, By Process
9. Zinc Oxide Market Segmentation, By Form
10. Zinc Oxide Market Segmentation, By Application
11. Regional Analysis
12. Company Profile
13. Use Cases and Best Practices
14. Conclusion

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