Zinc Oxide Market Size & Share, By Form (Powder, Pellets), Process (Indirect, Direct, Wet Chemical, Others), Application, Regional Forecast, Industry Players, Growth Statistics Report 2023-2030

Market Outlook:

Zinc Oxide Market size surpassed USD 4.94 Billion in 2022 and is poised to reach USD 8.91 Billion, growing at over 6.6% CAGR between 2023 and 2030. The increasing demand for zinc oxide across various industries, including rubber, ceramics, chemicals, and pharmaceuticals, is driving the market growth. Additionally, the rising use of zinc oxide in the manufacturing of sunscreen products due to its UV-filtering properties is further propelling the market expansion.

• Base Year Value (2022): USD 4.94 Billion
• CAGR (2023-2030): 6.6%
• Forecast Year Value (2030): USD 8.91 Billion
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

1. Growing demand for rubber products: The rubber industry represents a major growth driver for the zinc oxide market. Zinc oxide is extensively used as a vulcanization accelerator in the rubber manufacturing process, improving the mechanical properties and durability of rubber products. The expansion of the automotive and construction sectors is expected to increase the demand for rubber products, thereby creating opportunities for zinc oxide manufacturers.

2. Increasing use in ceramic applications: Zinc oxide is widely utilized in the ceramics industry as a fluxing agent, imparting excellent glaze characteristics and improved product performance. The growing demand for ceramic products, such as tiles, sanitaryware, and tableware, is expected to boost the demand for zinc oxide in this sector.

3. Rising applications in the chemicals industry: The chemicals sector is another significant driver for the zinc oxide market. Zinc oxide is employed as a raw material for the production of various chemicals, including zinc stearate, zinc sulfide, and zinc phosphate. The expanding chemical industry, particularly in emerging economies, is likely to provide lucrative growth opportunities in this segment.

 

Industry Restraints & Challenges:

Report Scope

Report Coverage	Details
Segments Covered	Form, process, application, region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Ace Chemie Zynk Energy Limited, AG CHEMI GROUP s.r.o., CCL, EverZinc, Zinc Nacional, HAKUSUI TECH, LANXESS, IEQSA, Neo Zinc Oxide, Pan-Continental Chemical Co., Ltd., Rubamin, Tata Chemicals Ltd., TOHO ZINC CO., LTD., TP Polymer Private Limited, Upper India, Weifang Longda Zinc Industry Co., Ltd., Yongchang zinc industry Co., Ltd., Zinc Oxide Australia, Zochem, Inc

1. Availability of alternatives: The zinc oxide market faces a challenge from the availability of substitute products such as titanium dioxide and carbon black, which offer similar functionalities in some applications. The use of these alternatives poses a threat to the growth of the zinc oxide market.

2. Fluctuating raw material prices: Zinc oxide is predominantly derived from zinc ore or secondary zinc sources, making it susceptible to fluctuations in raw material prices. The volatility in prices can impact the overall profitability of zinc oxide manufacturers and act as a restraint to market growth.

3. Environmental concerns: The manufacturing process of zinc oxide can involve emissions of greenhouse gases, thereby contributing to environmental pollution. Stringent regulations and increasing awareness regarding sustainable manufacturing practices may pose challenges to market growth.

In conclusion, the zinc oxide market is expected to witness positive growth in the coming years, driven by the increasing demand from sectors such as rubber, ceramics, and chemicals. However, the market faces challenges from substitute products and fluctuating raw material prices. To maintain a competitive edge, manufacturers need to focus on research and development activities to enhance the product's performance and address environmental concerns.

Regional Forecast:

1. North America:

The North American region is expected to witness steady growth in the zinc oxide market. The growing healthcare industry and increasing consumption of personal care products are driving the demand for zinc oxide in the pharmaceutical and cosmetic sectors. Additionally, the rising automotive industry in countries like the United States and Canada is fueling the demand for zinc oxide in rubber applications.

2. Asia Pacific:

Asia Pacific is projected to dominate the zinc oxide market due to the rapid industrial development and expanding end-use industries in countries like China, India, and Japan. The region has a significant demand for zinc oxide in applications such as ceramics, paints and coatings, and rubber. The increasing population, urbanization, and rising demand for consumer goods are contributing to the growth of the zinc oxide market in this region.

3. Europe:

The European zinc oxide market is driven by the growing demand for sustainable and eco-friendly products. Zinc oxide is extensively used in various industries, including pharmaceuticals, textiles, and electronics, due to its non-toxic nature and excellent thermal and electrical conductivity. The region's strict regulations regarding the use of environmentally friendly materials further contribute to the market growth of zinc oxide in Europe.

Segmentation Analysis:

1. By Grade:

- Sub-Segment: Pharmaceutical Grade

Zinc oxide is widely used in the pharmaceutical industry due to its numerous properties such as antimicrobial and anti-inflammatory capabilities. It is used in various medications, ointments, and topical creams for treating skin conditions like acne, eczema, and sunburns. Zinc oxide also offers UV protection, making it a common ingredient in sunscreens. The pharmaceutical grade sub-segment of zinc oxide is expected to witness substantial growth as the demand for advanced and effective medicinal products continues to rise.

2. By Application:

- Sub-Segment: Rubber

Zinc oxide acts as a reinforcing agent in rubber manufacturing, enhancing the mechanical and physical properties of rubber products. It improves heat resistance, tensile strength, and wear resistance, making it suitable for various applications such as tires, belts, hoses, and seals. The rubber sub-segment is anticipated to experience significant growth as the automotive industry thrives, increasing the demand for high-quality rubber components.

Competitive Landscape:

Some of the key market players include Ace Chemie Zynk Energy Limited, AG CHEMI GROUP s.r.o., CCL, EverZinc, Zinc Nacional, HAKUSUI TECH, LANXESS, IEQSA, Neo Zinc Oxide, Pan-Continental Chemical Co., Ltd., Rubamin, Tata Chemicals Ltd., TOHO ZINC CO., LTD., TP Polymer Private Limited, Upper India, Weifang Longda Zinc Industry Co., Ltd., Yongchang zinc industry Co., Ltd., Zinc Oxide Australia, and Zochem, Inc.