Zinc Oxide Market Dynamics and Product Segments By 2030

Zinc Oxide Market Growth & Trends

The global zinc oxide market size is estimated to reach USD 8.1 billion by 2030, registering a CAGR of 6.9% during the forecast period, according to a new report by Grand View Research, Inc. Growth can be attributed to the rising product demand for vulcanization of rubber in the tire industry. In addition, the growing consumption of premium skincare products in emerging economies due to the increasing disposable income is expected to drive market growth. The raw materials used to manufacture the product using direct processes include sulfuric acid and zinc chloride. The availability of raw material impacts zinc oxide (ZnO) prices and production.

Gather more insights about the market drivers, restrains and growth of the Global Zinc Oxide Market

Market Segmentation:

Grand View Research has segmented the global zinc oxide market on the process (Indirect, Direct, Wet Chemical, Others), application (Rubber, Ceramics, Chemicals, Cosmetics & Personal Care, Paints & Coatings, Pharmaceuticals, Agriculture, Others).

Based on Regional Insights, the market is segmented into North America, Europe, Asia Pacific, and South America and Middle East & Africa.

Asia Pacific region accounted for the largest revenue share of more than 30.0% in 2021.

This is attributed to the large manufacturing base in the region that houses several end-use sectors, such as pharmaceuticals, rubber, and ceramics. In addition, the growing consumption of skincare products and the rise in the tire industries in India and China are likely to drive the market growth in the region. China is a major producer and consumer of ZnO globally. Increasing population, growing urbanization, and an increase in average disposable income in China, India, Indonesia, and Vietnam are expected to drive the demand for paints and coatings.

North America plays a significant role in the zinc oxide market with a revenue share of 16.2% in 2021.

The U.S. has a major influence on the North America market owing to the presence of major manufacturers in the industry. The increasing demand for ZnO from the pharmaceutical and cosmetics industries due to the rising geriatric population is expected to boost the market growth in the coming years.

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Key Companies

The key players in the global zinc oxide market include – US Zinc, Zinc Oxide LLC, EverZinc, Rubamin, Grupo Promax, Weifang Longda Zinc Industry Co., Ltd., and Yongchang Zinc Industry Co., Ltd.

The market has the presence of large-scale multinational players having a well-established and strong distribution network across the globe. Players are investing more in research & development activities to produce high-performance products. U.S. Zinc is one of the leading manufacturers of ZnO globally. It caters to various end-use industries, such as rubber, chemicals, ceramics, and others.

Market Share Insights

• September 2017: Zinc Oxide LLC acquired Zochem Inc., a subsidiary of American Zinc Recycling Corp. LLC. This deal has increased the revenue and production capacity of the company.

Order a free sample PDF of the Zinc Oxide Market Intelligence Study, published by Grand View Research.