Zinc Oxide Market Size & Share, by Type (Standard, Chemical); End-user (Ceramics, Pharmaceuticals, Agriculture) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5167
  • Published Date: Aug 16, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

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.


Zinc Oxide Market
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Zinc Oxide Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Use in Rubber and Tire Industry: Zinc oxide is widely used as a vulcanization accelerator in the synthetic rubber and tire industry. The demand for zinc oxide in this sector is driven by the growth of the automotive industry and tire manufacturing. According to a report, global rubber processing sales reached nearly USD 4.6 billion in the year 2020.
  • Expanding Applications in the Pharmaceutical Industry: Zinc oxide is utilized in various medicinal products, such as ointments and creams, due to its antiseptic and astringent properties. The pharmaceutical sector's growth contributes to the increased demand for zinc oxide in this industry.
  • Growing Adoption in Agricultural Applications: The use of zinc oxide in agriculture, particularly in animal feed additives, has been on the rise due to its positive effects on animal health and performance.

Challenges

  • Volatility in Raw Material Prices: The cost and availability of raw materials, particularly zinc metal, can be subject to fluctuations, impacting the production costs and profitability of zinc oxide manufacturers.
  • Environmental Regulations
  • Competition from Substitutes

Zinc Oxide Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 11 Billion

Forecast Year Market Size (2035)

~ USD 22 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Zinc Oxide Segmentation

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:

           Type

  • Standard
  • Chemical

 

   

           End User

  • Ceramics
  • Pharmaceuticals
  • Agriculture

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Zinc Oxide Industry – Regional Synopsis

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.

Research Nester
Zinc Oxide Market Size
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Companies Dominating the Zinc Oxide Landscape

top-features-companies
    • Umicore N.V.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • EverZinc
    • American Zinc Recycling
    • Weifang Longda Zinc Industry Co., Ltd.
    • GH Chemicals Limited
    • Rubamin Ltd.
    • ZOchem Inc.
    • Seyang Zinc Technology (Shanghai) Co., Ltd.
    • Mario Pilato Blat S.A.
    • Grillo-Werke AG

In-the-news

In The News

  • American Zinc Recycling sold to Befesa for $450 million. American Zinc Recycling was acquired by Luxembourg-based Befesa SA for USD 450 million in 2021. Befesa is a global leader in the recycling of hazardous waste, and the acquisition of American Zinc Recycling will give the company a significant presence in the U.S. steel industry.
  • American Zinc Recycling to invest USD 10 million in new zinc refining operations. American Zinc Recycling announced in 2022 that it would invest USD 10 million in a new zinc refining operation in Rutherford County, North Carolina. The new operation will produce special high-grade (SHG) and continuous galvanizing grade (CGG) zinc, and it is expected to be operational by the end of 2023.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5167
  • Published Date: Aug 16, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for the pharmaceutical sector is the major factor driving the market growth.

The market size of zinc oxide is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Umicore N.V., EverZinc, American Zinc Recycling (formerly known as Horsehead Corporation), Weifang Longda Zinc Industry Co., Ltd., GH Chemicals Limited, and others.

The pharmaceuticals segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Zinc Oxide Market Report Scope
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