Zinc Oxide Market size is anticipated to surpass USD 22 billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of zinc oxide was over USD 11 billion. Zinc oxide is commonly used in the rubber industry as a vulcanization accelerator. As the automotive industry and tire manufacturing continue to grow, the demand for zinc oxide is expected to rise. The ceramic industry uses zinc oxide in glazes and as a flux material. The construction sector's growth also contributes to the increased demand for ceramic products, driving the demand for zinc oxide.
Zinc oxide is used in sunscreen lotions and other cosmetic products due to its UV-blocking properties. The growing awareness of the harmful effects of UV rays and an increasing interest in skincare products have boosted the market. Zinc oxide is a versatile inorganic compound used in various industries, and its demand is influenced by factors such as industrialization, urbanization, and technological advancements.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 11 Billion |
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Forecast Year Market Size (2035) |
~ USD 22 Billion |
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Regional Scope |
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Type (Standard, Chemical)
The chemical segment is estimated to gain the largest market share of 60% in the year 2035. Zinc oxide is widely used as a vulcanization accelerator in the rubber industry, promoting cross-linking of rubber molecules and enhancing the mechanical properties of rubber compounds. In the ceramics industry, zinc oxide is utilized in glazes and as a flux material to improve the flow of ceramic materials during firing and enhance the final product's properties.
End User (Ceramics, Pharmaceuticals, Agriculture)
The pharmaceuticals segment is expected to garner a significant share in the year 2035. Zinc oxide is known for its antiseptic and astringent properties, making it suitable for various medicinal applications, including ointments, creams, and topical formulations. According to a report, global zinc oxide sales for pharmaceutical applications were valued at nearly USD 657.3 million in the year 2020.
Our in-depth analysis of the global market includes the following segments:
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Type |
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End User |
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APAC Market Forecast
The zinc oxide market in the Asia Pacific region is projected to hold the largest market share of 38% by the end of 2035. The rapid industrialization and urbanization in the APAC region have led to increased demand for zinc oxide in various industries, including rubber, ceramics, paints, coatings, and electronics. According to the Asian Development Bank (ADB), the APAC region accounted for over 60% of the world's urban population in 2020, and this trend is expected to continue as urbanization rates rise.
North American Market Statistics
The zinc oxide market in the North America region is projected to hold the second-largest share during the forecast period. The increasing consumer awareness of sun protection and the demand for skin care products in North America drive the use of zinc oxide in cosmetics and personal care products, such as sunscreens and skincare lotions. The pharmaceutical industry in North America utilizes zinc oxide in various medicinal products, including ointments, creams, and topical formulations, due to its antiseptic and astringent properties.
Author Credits: Smruti Ranjan, Rajrani Baghel
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