Zinc Oxide Market Size, Share, Industry & Revenue | 2031

Zinc Oxide Market Size, Share, Industry & Revenue | 2031

Segments - Zinc Oxide Market by Process (Direct, Indirect, and Wet Chemical Process), Grade (Standard, Treated, United States Pharmacopeia, and Food and Chemical Codex), Application (Rubber, Ceramics, Chemicals, Agriculture, Cosmetics & Personal Care, Pharmaceuticals, Foods, Paints & Coatings, Electronics & Semiconductors, and Others), and Region (Europe, North America, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

Upcoming | Report ID :MC-242 | 4.7 Rating | 67 Reviews | 142 Pages | Format : PDF Excel PPT

Report Description


The global zinc oxide market size was around USD 3.7 Bn in 2022 and is expected to reach USD 7.41 Bn by 2031, expanding at a CAGR of 5.9% during 2023 – 2031. The growth of the market is attributed to the rising demand from rubber, ceramics, cosmetics & personal care industry.

Zinc oxide is an insoluble inorganic compound in a white powder form. The molecular formula of the compound is ZnO. It usually occurs as zincite minerals and is obtained by oxidizing the zinc ores.

Zinc Oxide Market Outlook

It is an important compound, as it is used as an activator in various industries such as rubber, ceramics, chemicals, agriculture, pharmaceuticals, and cosmetics & personal care. Zinc oxide is antifungal, anti-bacterial, and anti-corrosive in nature. Through the process of vulcanization, zinc oxide is used to increase the durability of rubber.

The report finds that the COVID-19 pandemic hampered the overall revenue of the global zinc oxide market, owing to the sudden disruption in the supply chain. A sharp decline in demand from various industries, due to the prolonged shutdown of various industries plummeted the market growth.

Several restrictions and limitations imposed by the government on import-export activities caused a certain delay in the supply of raw materials, which forced zinc oxide manufacturers to either delay their production or reschedule their existing projects and supplies. The cosmetic industry recorded a low consumption of zinc oxide during the COVID-19 pandemic, as there was a slow economic growth rate observed.

Zinc Oxide Market Dynamics

Major Drivers

Increasing area of application along with the growing demand from various industries is a major factor driving the market growth during the forecast period. Zinc oxide is widely used in the manufacturing of rubber, paint & coatings, glass, cosmetics, and medicines. It reduces the melting point in the production of ceramics and the vulcanization of rubber.

Increasing production of smart devices is expected to boost market growth in the coming years. Demand for zinc oxide increased in electronics and semiconductors, owing to its ability to sustain large electric fields, high power operation, and high temperature.

Existing Restraints

Exposure to zinc oxide is harmful to human beings and causes conditions such as skin allergies, irritations, and other illnesses. Thus, ensuring safety precautions and following safety guidelines for the well-being of the workers in the factory, is a responsible task for the companies. This is expected to restrain the zinc oxide market.

Emerging Opportunities

Increasing demand for zinc oxide nanoparticles creates lucrative growth opportunities in the market. Zinc oxide nanoparticles are easy to fabricate, do not harm the environment, and do not release toxic elements, which makes them ideal for biological applications. It acts as the best alternative for zinc sulfate as it is identified as an important micronutrient for plants and grains. It is known to be a better fertilizer in terms of a source of zinc elements.

Zinc Oxide Market Dynamics

Scope of Zinc Oxide Market Report

The report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Attributes

Details

Report Title

Zinc oxide Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2020 – 2021

Forecast Period

2023–2031

Segmentation

Process (Direct, Indirect, and Wet Chemical Process), Grade (Standard, Treated, United States Pharmacopeia, and Food and Chemical Codex), Application (Rubber, Ceramics, Chemicals, Agriculture, Cosmetics & Personal Care, Pharmaceuticals, Foods, Paints & Coatings, Electronics & Semiconductors, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Continental Chemicals Limited; Zochem, Inc.; EverZinc.; ZM SILESIA SA; Akrochem Corporation.; RUBAMIN; Pan-Continental Chemical Co., Ltd.; JG Chemicals Limited; Upper India; and Nokian Tyres plc.

Zinc Oxide Market Segment Insights

Based on process, the global zinc oxide market is segmented into direct, indirect, and wet chemical process. The indirect segment held more than 80% market share in 2021 and is projected to grow at a rapid pace during the forecast period.

The wet chemical process segment is expected to expand at a sustainable CAGR in the coming years. This method obtains zinc oxide with fine size, good dispersion properties, and slow settling properties. The growth is attributed to the rising demand for high-quality zinc oxide.

Zinc Oxide Market Process

On the basis of grade, the market is divided into standard grade, treated grade, United States Pharmacopeia (USP) grade, and Food and Chemical Codex (FCC) grade. All three grades are different in composition, surface area, particle size, and heavy metal content. Food and Chemical Codex (FCC) grade segment is expected to grow at a significant growth rate during the projection period, owing to the increasing adoption in the food industry. Food and Chemical Codex (FCC) grade can be added to breakfast cereals as a source of nutrients.

In terms of application, the market is segmented into rubber, ceramics, chemicals, agriculture, cosmetics & personal care, pharmaceuticals, and others. The rubber segment is projected to register a considerable CAGR during the assessment period, due to the rising demand from the automotive and footwear industries. It is widely used in tires, hockey pucks, and shoe soles.

Zinc oxide helps in rubber vulcanization to increase durability. Zinc oxide offers several superior properties such as rubber-like heat resistivity and protection against UV rays, which makes it suitable for industrial use. It acts as an activator by increasing the rate of the rubber vulcanization process. The automotive industry has a high demand for zinc oxide for the manufacturing of rubber parts such as tires and automotive interiors like airbags systems, ventilation & window flaps, and reflective seals, among others.

Zinc Oxide Market Application

Based on region, the global zinc oxide market is classified as Europe, North America, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. Developing countries such as China and India emerge as manufacturers, consumers, and exporters of zinc oxide, which consequently increases the demand for zinc oxide in the Asia Pacific region.

The rising use of skin care products in the region is estimated to drive market growth. Moreover, the region has several manufacturing bases such as pharmaceutical, housing, and glass, which is estimated to increase the share of the market in the coming years

Zinc Oxide Market Regions

Segments

The global zinc oxide market has been segmented on the basis of

Process

  • Direct
  • Indirect
  • Wet Chemical Process

Grade

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

Application

  • Rubber
  • Ceramics
  • Chemicals
  • Agriculture
  • Cosmetics & Personal Care
  • Pharmaceuticals
  • Foods
  • Paints & Coatings
  • Electronics & Semiconductors
  • Others

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Continental Chemicals Limited
  • Zochem, Inc.
  • EverZinc.
  • ZM SILESIA SA
  • Akrochem Corporation.
  • RUBAMIN
  • Pan-Continental Chemical Co., Ltd.
  • JG Chemicals Limited
  • Upper India
  • Nokian Tyres plc.

Competitive Landscape

Key players competing in the global zinc oxide market are Continental Chemicals Limited; Zochem, Inc.; EverZinc.; ZM SILESIA SA; Akrochem Corporation.; RUBAMIN; Pan-Continental Chemical Co., Ltd.; JG Chemicals Limited; Upper India; and Nokian Tyres plc.

These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. For instance,

  • On January 11, 2023, Nokian Tyres to expand the Dayton factory as the site nears full capacity. The company will invest USD 174 million in 2013 in order to double the output of the Dayton factory. This expansion is an initial investment that will facilitate the ability to store around four million tires per year.
  • In February, 2022, Zochem, Inc. to expand its zinc oxide production capacity at its Dickson, TN, facility. This will add about 15,000 metric tons of capacity to the Central Tennessee facility.
Zinc Oxide Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Zinc Oxide Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Zinc Oxide Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Zinc Oxide Market - Supply Chain
  4.5. Global Zinc Oxide Market Forecast
     4.5.1. Zinc Oxide Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Zinc Oxide Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Zinc Oxide Market Absolute $ Opportunity
5. Global Zinc Oxide Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Zinc Oxide Market Size and Volume Forecast by Applications
     5.3.1. Rubber
     5.3.2. Ceramics
     5.3.3. Chemicals
     5.3.4. Agriculture
     5.3.5. Cosmetics & Personal Care
     5.3.6. Pharmaceuticals
     5.3.7. Foods
     5.3.8. Paints & Coatings&a
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Zinc Oxide Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Zinc Oxide Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Zinc Oxide Demand Share Forecast, 2019-2026
7. North America Zinc Oxide Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Zinc Oxide Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Zinc Oxide Market Size and Volume Forecast by Applications
     7.4.1. Rubber
     7.4.2. Ceramics
     7.4.3. Chemicals
     7.4.4. Agriculture
     7.4.5. Cosmetics & Personal Care
     7.4.6. Pharmaceuticals
     7.4.7. Foods
     7.4.8. Paints & Coatings&a
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Zinc Oxide Demand Share Forecast, 2019-2026
8. Latin America Zinc Oxide Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Zinc Oxide Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Zinc Oxide Market Size and Volume Forecast by Applications
     8.4.1. Rubber
     8.4.2. Ceramics
     8.4.3. Chemicals
     8.4.4. Agriculture
     8.4.5. Cosmetics & Personal Care
     8.4.6. Pharmaceuticals
     8.4.7. Foods
     8.4.8. Paints & Coatings&a
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Zinc Oxide Demand Share Forecast, 2019-2026
9. Europe Zinc Oxide Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Zinc Oxide Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Zinc Oxide Market Size and Volume Forecast by Applications
     9.4.1. Rubber
     9.4.2. Ceramics
     9.4.3. Chemicals
     9.4.4. Agriculture
     9.4.5. Cosmetics & Personal Care
     9.4.6. Pharmaceuticals
     9.4.7. Foods
     9.4.8. Paints & Coatings&a
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Zinc Oxide Demand Share Forecast, 2019-2026
10. Asia Pacific Zinc Oxide Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Zinc Oxide Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Zinc Oxide Market Size and Volume Forecast by Applications
     10.4.1. Rubber
     10.4.2. Ceramics
     10.4.3. Chemicals
     10.4.4. Agriculture
     10.4.5. Cosmetics & Personal Care
     10.4.6. Pharmaceuticals
     10.4.7. Foods
     10.4.8. Paints & Coatings&a
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Zinc Oxide Demand Share Forecast, 2019-2026
11. Middle East & Africa Zinc Oxide Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Zinc Oxide Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Zinc Oxide Market Size and Volume Forecast by Applications
     11.4.1. Rubber
     11.4.2. Ceramics
     11.4.3. Chemicals
     11.4.4. Agriculture
     11.4.5. Cosmetics & Personal Care
     11.4.6. Pharmaceuticals
     11.4.7. Foods
     11.4.8. Paints & Coatings&a
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Zinc Oxide Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Zinc Oxide Market: Market Share Analysis
  12.2. Zinc Oxide Distributors and Customers
  12.3. Zinc Oxide Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Continental Chemicals Limited
     12.4.2. Zochem, Inc.
     12.4.3. EverZinc.
     12.4.4. ZM SILESIA SA
     12.4.5. Akrochem Corporation.
     12.4.6. RUBAMIN
     12.4.7. Pan-Continental Chemical Co., Ltd.
     12.4.8. JG Chemicals Limited
     12.4.9. Upper India
     12.4.10. Nokian Tyres plc.

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