The Global Zinc Oxide Market size is projected to grow from USD 4.4 billion in 2019 to USD 5.7 billion by 2024, at a compound annual growth rate (CAGR) of 5.4% between 2019 and 2024. Growing demand from the rubber industry and the non-availability of substitutes that can replace ZnO in various applications, is driving the market growth.
Browse 104 market data Tables and 28 Figures spread through 117 Pages and in-depth TOC on "Zinc Oxide Market by Process (French Process, Wet Process, American Process), Grade (Standard, Treated, USP, FCC), Application (Rubber, Ceramics, Chemicals, Agriculture, Cosmetics & Personal Care, Pharmaceuticals), Region - Global Forecast to 2024"
The key players in the zinc oxide market are US Zinc (US), Zochem (US), EverZinc (Belgium), ZM Silesia (Poland), Akrochem (South Africa), Rubamin (India), Pan-Continental Chemical (Taiwan), J.G. Chemicals (India), Upper India (India), and Suraj Udyog (India). These players have adopted the strategy of acquisition to enhance their product offerings and geographic presence.
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“Indirect (French) process segment accounted for the largest share of the zinc oxide market.”
In this process, metallic zinc is melted in a crucible and is vaporized at high temperatures (above 1652 F). The ZnO, thus obtained, typically consists of agglomerated particles with an average size of 0.1 micrometers to a few micrometers. ZnO produced by this process is used in rubber, cosmetics, pharmaceuticals, and paints.
“The cosmetics & personal care applications is expected to register the fastest growth during the forecast period.”
The property of ZnO to absorb harmful ultraviolet rays is widely put to use in cosmetics & personal care applications. Various types of sunscreen and baby lotions are prepared using ZnO, and as the consumers are becoming more aware of its benefits, this application is expected to drive the growth of the market.
“APAC was the largest zinc oxide market in 2018.”
APAC led the global zinc oxide industry in 2018. The main reason for the growth of the market in the region is China, which accounts for 30% of the worldwide zinc oxide production. The demand is attributed to the growing tire and ceramic industries in China due to the demand from the construction and automotive sectors.
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Key questions addressed by the report
What was the zinc oxide market size in 2018?
What are the global zinc oxide market trends in demand for ZnO?
Will the market witness an increase or decline in demand in the near future?
What were the revenue pockets for ZnO in 2018?
Who are the key players in the global ZnO market?
US Zinc is one of the leading producers of ZnO in the world. It manufactures almost 40 different grades of ZnO, which caters to various applications such as rubber, ceramics, chemicals, and animal feed. In recent years, the developed economies such as Europe has brought in regulation which limits the use of ZnO in application like animal feed. These regulations will create an opportunity for the company in developing economies like the Middle East & Africa, which can be tapped easily due to the global reach of the company.
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