The Zinc Oxide Market report, published by Stratview Research is Segmented by Application Type (Agriculture, Ceramics, Rubber, Chemicals, Pharmaceuticals, Cosmetics & Personal Care, and Others), by Process Type (Wet-Chemical Process, French Process, and American Process), by Grade Type (Standard, Treated, United States Pharmacopeia (USP), Food and Chemical Codex (FCC), and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Insights
The zinc oxide market was estimated at USD 5.21 billion in 2022 and is likely to grow at a CAGR of 6.82% during 2023-2028 to reach USD 7.75 billion in 2028.
What is zinc oxide?
ZnO stands for Zinc oxide. It is an insoluble and inorganic compound used as an additive in various products such as cosmetic creams, rubber, paints, ceramics, foods, lubricants, batteries, plastics, medical, and others. This also plays a pivotal role in obstructing harmful rays.
The report estimates the current and future demand for Zinc Oxide Market at the global, regional, as well as country-level. The report also studies all the major suppliers of the market located across the globe. The vital data/information offered in the report can play an important role for the market participants in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies in order to expedite their growth process. This exclusive report is the outcome of an exclusive research methodology including primary research and secondary research.
Market Dynamics
There are a number of factors that drive the global zinc oxide market. A few of them are mentioned below -
- Wide usage of zinc oxide in various applications – Zinc oxide is an inactive white compound that is used very widely as a bulking agent or filler and as a white pigment. This is used in different industries and in various applications such as – cosmetics, food supplements, ceramics, and more. The growing usage of all these products hence, increases the demand for zinc oxide.
- Usage of Zinc oxide in rubber used for Tires - Zinc oxide (ZnO) possesses excellent properties that act as activators for the vulcanization of rubber. This makes it the best material for manufacturing tires for the automotive industry. Around 75% of the rubber produced across the globe is used in tire production and the automotive industry is expected to grow leaps and bounds in the coming years. This creates a high demand for zinc oxide materials.
- Growing construction industry – The global construction industry is predicted to reach USD 13.3 trillion by 2025, according to Oxford Economics. With the rising construction industry, demand for materials used in the industry also grows. Zinc oxides are used in architectural applications for rainwater systems, cladding, and roofing, and are alloyed with copper and titanium.
- Emerging applications in the electronics industry – Zinc oxide is used in electronic components due to its unique electric and semiconducting properties. The expanding electronics industry and the development of innovative electronic devices create a great opportunity for zinc oxide applications.
Segment Analysis
The market is segmented as agriculture, ceramics, rubber, chemicals, pharmaceuticals, cosmetics & personal care, and others. The rubber segment accounted for the largest market share of more than 40% in 2022 and is projected to register significant growth during the review period. The growth of the segment is owing to the durability of ZnO, which is used for the vulcanization of rubber, used to manufacture tires.
The market is segmented into wet-chemical, American, and French processes. The french process segment accounted for the largest market share of more than 80% in 2022 and is projected to register significant growth during the forecast period as Zinc produced by using this process is very fine in size and possesses good dispersion and slow settling rates.
Asia-Pacific accounted for the largest market share of 30% in 2022, as well as the fastest-growing market for ZnO during the forecast period, with China and India, being the major countries with lucrative growth opportunities. One of the major driving factors is the rapid growth of the personal care products and cosmetics market in the region, with China being the largest exporter of ZnO.
Frequently Asked Questions (FAQs)
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