Global Zinc Oxide Market Insights Forecasts to 2033

• The Global Zinc Oxide Market Size was Valued at USD 4.15 Billion in 2023.
• The Market Size is Growing at a CAGR of 5.58% from 2023 to 2033.
• The Worldwide Zinc Oxide Market Size is Expected to Reach USD 7.14 Billion by 2033.
• Europe is Expected to Grow the fastest during the forecast period.

The Global Zinc Oxide Market Size is Anticipated to Exceed USD 7.14 Billion by 2033, Growing at a CAGR of 5.58% from 2023 to 2033.

Market Overview

Zinc oxide (ZnO) is a white, inorganic solid powder. It is insoluble in water and not flammable. In a typical atmosphere, the primary elements are closely connected so that they merge and form a cluster. Zinc oxide is primarily considered to be zincite in nature, and it is further removed through various processes. Zinc oxide is also known for its unique physiochemical properties, including catalytic, anti-corrosive, antifungal, antibacterial, and UV filtering properties. Furthermore, another significant driver of the zinc oxide market is its increased use in the thriving cosmetics industry. Zinc oxide, known for its sun protection properties, is a common ingredient in sunscreens that provide broad-spectrum protection against harmful UVA and UVB rays. As individuals become more aware of the importance of skin health, the demand for zinc oxide in skincare and sun care products increases. The development of ZnO nanoparticles has increased their potential in biomedicine, particularly in anticancer and anti-bacterial applications. These nanoparticles can produce an excess of reactive oxygen species, release zinc ions, and induce cell apoptosis. Furthermore, zinc can maintain insulin's structural integrity, so zinc oxide nanoparticles could be developed for antidiabetic treatment.

Report Coverage

This research report categorizes the market for the global zinc oxide market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global zinc oxide market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global zinc oxide market.

Driving Factors

The global market for zinc oxide is being driven by the increasing use of zinc oxide in end-user industries, and also by increased demand from the dye and paint industries. Its highly stable chemical and physical properties have gained significant traction in the electronics industry, resulting in increased demand for the global zinc oxide market. Zinc oxide is frequently used in pharmaceuticals to deliver color and disease-specific properties. Zinc oxide is also used in agricultural chemicals, which is the primary reason for the increase in global demand for zinc oxide. Market participants are focused on collaboration and mergers to develop new technologies and capitalize on opportunities in the solar and surface coating industries. Further, demand from the rubber sector, which is driven by high vehicle demand, is a growth driver for the global zinc oxide market. Furthermore, due to increased demand, the global market for zinc oxide is expected to expand positively in the future.      

Restraining Factors

A variety of factors, including supply and demand dynamics, geopolitical events, and economic conditions, can influence the price of zinc, the primary raw material used to manufacture zinc oxide. Zinc price volatility might hamper market expansion and reduce the profitability of zinc oxide producers. Also, zinc oxide production can be energy intensive, particularly when using procedures such as the indirect or French process. Energy price fluctuations and concerns about energy efficiency can have an impact on production costs and market competitiveness.

Market Segmentation

The global zinc oxide market share is classified into form and end user.

• The powder segment is expected to hold the largest share of the global zinc oxide market during the forecast period.     

Based on the form, the global zinc oxide market is categorized into powder and pellets. Among these, the powder segment is expected to hold the largest share of the global zinc oxide market during the forecast period. Zinc oxide powder is widely used in many applications due to its versatility and effectiveness. It is widely used in a variety of industries, including batteries, lubricants, friction materials, gold and silver extraction, spray galvanization, and many more. Zinc oxide powder is important in paints because it provides excellent UV and corrosion protection.   

• The automotive segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the end user, the global zinc oxide market is categorized into automotive, construction, paints & coatings, pharmaceutical, agriculture, and others. Among these, the automotive segment is expected to grow at the fastest CAGR during the forecast period.  The tire industry's growth can be attributed to the high demand for rubber, which is primarily used in the manufacture of automobile tires. ZnO is an important component in the production process because it aids in the vulcanization of rubber. ZnO also acts as a crosslinking or curing agent for halogen-containing elastomers like polysulfides and neoprene. These elastomers require ZnO's unique properties to improve their performance and durability, making it an essential component in the rubber industry.   

Regional Segment Analysis of the Global Zinc Oxide Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific is anticipated to hold the largest share of the global zinc oxide market over the predicted timeframe.

Asia-Pacific is anticipated to hold the largest share of the global zinc oxide market over the predicted timeframe. The increasing demand for zinc oxide is primarily attributed to the advancements in the automobile, construction, personal care, and cosmetics industries in countries such as India, China, Japan, and South Korea. Additionally, the expanding pharmaceutical industry is expected to further fuel the demand for zinc oxide due to its numerous beneficial properties. These properties include anti-inflammatory, antiseptic, drying, and ultraviolet protection capabilities, which make zinc oxide a versatile and sought-after ingredient in various applications.

Europe is expected to grow at the fastest CAGR growth of the global zinc oxide market during the forecast period. In Europe, Germany is the largest contributor to the zinc oxide market. The increasing demand for zinc oxide from ceramic and rubber applications contributes to the growth in this region. Zinc oxide is used as an additive in ceramic and rubber applications. The growth in ceramics is due to the increasing demand from various end-use industries such as automotive, electronics, energy, and medical. The rising demand for zinc oxide from the rubber industry for producing a variety of products such as hoses, belts, matting, flooring, and medical gloves, is also increasing the demand for zinc oxide in Europe.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global zinc oxide market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Akrochem Corporation
• Pan-Continental Chemical
• Rubamin
• Silox SA
• Suraj Udyog
• Weifang Longda Zinc Industry Co. Ltd
• Zinc Nacional SA
• Zinc-Co-India
• ZM SILESIA SA
• Zochem Inc.
• EverZinc
• HAKUSUI TECH
• Hanil
• Hindustan Zinc Limited
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Developments

• In June 2022, Aterian Investment Partners merged U.S. Zinc and EverZinc, the world's two largest producers of zinc chemical products, to create the world's leading zinc chemistry company.

• In February 2022, Zochem announced that it would increase zinc oxide production capacity at its Dickson, Tennessee, facility. The new furnace will add another 15,000 metric tons of capacity to the Central Tennessee facility.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global zinc oxide market based on the below-mentioned segments:

Global Zinc Oxide Market, By Form

• Powder
• Pellets

Global Zinc Oxide Market, By End User

• Automotive
• Construction
• Paints & Coatings
• Pharmaceutical
• Agriculture
• Others

Global Zinc Oxide Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa