Zinc Oxide Market Trends

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)

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 â€“ 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 Trends