Zinc Powder Market Size, Growth, Industry & Revenue | 2031

Report Description

Zinc Powder Market Outlook

The Global Zinc Powder Market was estimated at USD 1,647.1 Million in 2022 and is anticipated to reach USD 2,476.4 Million by 2031, expanding at a CAGR of 4.7% during the forecast period.

Zinc powder is made up of fine zinc particles. It is grey or silver in color and has a metallic sheen. Pure zinc powder has a particle size above 9.0µ. The condensation of purified zinc vapors produces zinc powder. It displays the characteristics such as improved yields, quick reaction time, and consistent quality. Zinc powder is used for many different applications in various fields.

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Zinc powder is highly pure with more than 99% zinc and has deficient concentrations of trace metal impurities. This makes it a suitable material for the production of semiconductor & electronic components, for research & testing, and to use as a catalyst in chemical reactions. Zinc powder is a suitable material for semiconductor production, acting as a dopant material in manufacturing zinc oxide films, due to its purity level. A high purity level of zinc powder ensures that these films do not have impurities that impact the semiconductor performance.

Macro-economic Factors

Industrial Growth

Rapid expansion of industries influence the demand for zinc powder. Some key end-use industries that use zinc powder include paints and coatings, electrical and electronics, chemicals, and metal processing. The demand for zinc powder from these industries depends on their production and consumption levels.

For instance, the chemical industry heavily relies on zinc powder, as it is extensively used in chemical reactions as a catalyst. Thus, the demand for zinc powder in chemical and chemical processing facilities is increasing, especially in Asia Pacific, due to the strong presence of manufacturing industries.

According to the European Chemical Industry Council, global chemical sales increased from USD 3,984.0 billion in 2020 to USD 4,758.9 billion in 2021, an increase of 15.2%. The growth of end-use industries such as  chemicals, electrical and electronics and paints and coatings industry create an environment favorable for the growth of zinc powder market.

Gross Domestic Product

Global increase in the gross domestic product (GDP) in the post-pandemic period has created a positive business environment, supporting various businesses, such as manufacturing and services. The industrial manufacturing sector creates a strong demand for zinc powder, which is consumed in a variety of end-use industries, such as chemical, electrical and electronics, and metal processing.

The growth of GDP results in the strengthening of these industries. GDP growth is a key growth indicator  in developing economies, such as India, Indonesia, and the Philippines. For instance, according to the World Bank, in 2022, India emerged as one of the rapidly growing economies in the world, despite significant environmental challenges.

GDP in India reached the value of about USD 3.5 trillion. Thus, the growing GDP of emerging countries, such as India, China, Indonesia, Japan, Brazil, and South Korea, is influencing the industrial sector in these countries, which further contributes to the growth of the zinc powder market.

Zinc Powder Market Dynamics

Market Driver- Growing Demand of Zinc Powder for Batteries

Zinc powder is used as an anode material in many battery systems. Zinc powder (Zn) forms the anode of modern alkaline batteries. Zinc powder anodes are more suitable for the industrial application of aqueous zinc-ion batteries than the widely used zinc foil anodes, due to their low cost, adjustability, and processability. Therefore, the growing demand for zinc-ion batteries (ZIB) is driving the demand for zinc powder.

Aqueous zinc-ion batteries are a promising next-generation battery system that is expected to alleviate the current problems of conventional lithium-ion batteries. Aqueous zinc batteries are one of the most competitive energy storage devices for future portable electronic devices and large-scale energy storage, due to their intrinsic safety and low cost.

Zinc powder has good electrical properties and is widely used as an anode in alkaline batteries, as zinc powder has excellent battery characteristics and suppresses gas evolution, which is expected to drive the demand for zinc powder in alkaline batteries. Zinc metal powder is also used in other types of batteries, such as silver oxide button batteries, circular alkaline batteries, zinc-air button batteries, and printed batteries.

Recently, zinc-air has shown its potential as a fuel cell powering electric vehicles, including scooters, buses and trucks, which is expected to boost the demand for zinc-air batteries. Therefore, the demand for zinc powder is expected to increase during the forecast period.

Market Driver- Growing Demand for Zinc Powder for Anti-corrosion coatings

Zinc powder coating provides excellent corrosion resistance, and is ideal for use in harsh environments. Zinc powder coating is an anti-corrosion primer that is designed to protect steel substrates. Zinc powder coating issed in a two-coat system and forms a resilient base coat, which protects metal from corrosion.

Corrosion protection requires conductive contact between the substrate and the coated zinc particles. Zinc powder has a much wider surface contact, offers higher conductivity, and better corrosion protection than zinc dust, which is expected to boost the demand for zinc powder.

Zinc powder coating has a variety of applications, including protecting steel structures, auto parts, and home appliances. Zinc powder has better processability, no stress corrosion cracking, and improved application characteristics with improved durability as compared to zinc dust, which is driving the demand for zinc powder for anti-corrosion coating. Paints and coatings are widely used in the automotive and construction industries.

Notable growth in the construction sector in developed and developing countries, driven by rapid technological advancement, urbanization and rising consumer disposable income, is expected to drive the global zinc powder market during the forecast period. Zinc powder is used as a pigment and as a corrosion inhibitor in paints, thus protecting metal surfaces.

Demand for anti-corrosion coatings has increased in various industries, including automotive, construction and marine industries, leading to increased demand for zinc powder. For instance, in 2021, the government of India announced plans to invest in the development of anti-corrosion coatings for steel structures, highlighting the growing importance of this technology in the construction sector.

Market Restraint- Presence of Various Alternatives

Availability of various substitutes of zinc powder based on different applications is expected to hamper the market. Zinc powder is used in the manufacturing process of diamond tools, mainly to improve the alloy strength of the diamond tools. Other metal powders such as tin copper, iron, and nickel powders are used as substitutes of zinc powder, which is expected to hamper the demand for zinc powder in the diamond tool manufacturing process.

Furthermore, zinc foil acts as an alternative to zinc powder in batteries. Zinc foil is currently used as a common anode, as zinc powder induces hydrogen evolution and experiences corrosion, due to its large specific surface area, thereby resulting in poor cyclability for zinc powder-based batteries, which is expected to hamper the demand for zinc powder in batteries. Aluminum zinc alloy powder is used as an alternative to zinc powder in coating processes, as aluminum is cheaper than zinc. These factors restrain the growth of the market.

Scope of Zinc Powder Market Report            

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

Zinc Powder Market Segmental Outlook

Based on purity, the global zinc powder Market is categorized into below 99% and 99% & above. The below XX% segment held XX% of the market share in 2022. Zinc powder finds application in variety of applications, which include mechanical plating as an anti-corrosion substance in steel; in die casting of precision components; in making brass; in making paints; in pharmaceuticals & cosmetics; and as micro nutrients for animals, plants & humans.

The applications such as mechanical plating, making paints, and brass manufacturing do not have stringent requirements for the purity, which enables usage of low purity zinc powder in these applications. 

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Based on distribution channel, the global zinc powder market is categorized as manufacturers and distributors (online and offline). The manufacturers segment held a XX% market share in 2022. Sometimes, manufacturers directly supply the product to the end-user without the involvement of third parties or distributors.

Buying products directly from manufacturers is beneficial to the customer, as they are convenient, reliable, and cost-effective source of products. Brand loyalty is a major concern for consumers, which is ensured when they purchase products directly from manufacturers. All these factors contribute to the segment growth.

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Based on application, the global zinc powder market is categorized into metal surface treatment product, precision equipment, brass, paints, battery, and others. The metal surface treatment product segment holds a XX% market share in 2031.

Growing population and changing lifestyle with rapid industrialization have boosted infrastructure development and manufacturing. Requirement for anti-corrosive surfaces of steel products and structures has increased. Zinc powder is one of the most used surface treatment products. These factors contribute to the demand for zinc powder.

The precision equipment segment held XX% market share in 2022. The precision equipment segment is set to grow continuously over the forecast period, due to the rise in construction activities as the investments are rising in constructions and real estate. In the construction industry, there are high requirements for precision equipment such as diamond-cutting tools. This is driving zinc powder demand in precision equipment manufacturing, as zinc powder is used in the production of diamond-cutting tools.

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Based on end use industry, the global zinc powder market is categorized into automotive, electrical & electronics, chemical, aerospace, and others. The automotive segment held XX% of the market share in 2022.

Zinc powder is used in alkaline batteries, which are extensively used in the electric vehicles. The segment is anticipated to expand with a lucrative CAGR of XX% during the forecast period, owing to the increasing demand for the batteries used for electric vehicles.

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Regional Outlook

On the basis of region, the zinc powder market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to hold XX% share of the market in 2031, due to the expansion of industries, such as chemicals, electrical & electronics, energy, and automotive. The increasing demand for batteries used in electric vehicles drives the market in the region.

Zinc powder coating provides excellent corrosion resistance, making it ideal for use in harsh environments. Zinc powder coating is an anti-corrosion primer designed to protect steel substrates. The strong presence of chemical and electronics industries in North America, particularly in the US, contributes to the market growth in the region.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Zinc Powder Market

• Historical, Current, and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players

• Neutral Perspective on Global Zinc Powder Market Performance