The global zinc oxide market is estimated to be worth USD 4,449.6 million by 2024 and is projected to reach a value of USD 8,273.5 million by 2034. Over the projection period, global demand for veterinary rapid tests is predicted to increase at a CAGR of 6.4%. The established key player holds a strong position in the sector while smaller players are applying various key strategies to gain substantial sector share in the current era.
The sector is set to witness prominent growth in projected years. In this substantial growth, several industry manufacturers are expected to play a crucial role in the route of this market expansion and have leveraged the unique properties of zinc oxide to drive their production process. Manufacturers are anticipated to launch sustainable product lines to attract environmentally friendly consumers and others in the coming years.
The zinc oxide is essential in rubber manufacturing. The demand for rubber is increasing in various industries nowadays. The automobile sector is vying for a prominent market share owing to the requirement for rubber products such as tires, windshields, and others. Wherever the zinc oxide sector also holds the dominating position in the pharmaceutical sector. The growing demand for zinc oxide including products such as medicines and skin care creams is accelerating the demand for zinc oxide in various nations in the current period.
The several regions such as North America, and Asia Pacific have been seen in the upgradation process of their products in recent years. Also, stakeholders are applying different strategies for the promotion of the products and are ready to gain a prominent industry share. By creating partnerships with various educational and chemical institutes, producers are constantly seen in the enhancement of zinc oxides. The expansion of infrastructure activities in emerging economies such as India, Thailand, and japan can lead the sector growth for the foreseeable period.
| Attributes | Description |
|---|---|
| Estimated Global Zinc Oxide Market Size (2024E) | USD 4,449.6 million |
| Projected Global Zinc Oxide Market Value (2034F) | USD 8,273.5 million |
| Value-based CAGR (2024 to 2034) | 6.4% |
Need For the Ceramic Products to Lead the Way in Market Expansion
The upsurge in the usage of zinc oxide in ceramic products is presumed to lead to the demand for zinc oxide during the projected years. By providing greater control transparency or opacity to the glaze, zinc oxide has gained popularity among ceramic manufacturers over the years. Moreover, having the ability to the enhancement of whiteness and color consistency of ceramic surfaces, zinc oxide has emerged as the prominent ingredient in the ceramic industry nowadays.
Regulatory Standards are Setting up Industry Barriers
The increasing regulator standards for zinc oxide in feed applications in animals are expected to hinder the demand for zinc oxide in the coming years. Individuals are increasingly using zinc oxide in their animal diet to complete their zno needs but this excess of zno feeding in animals results in reduced feed intake and growth in animals. Therefore, several governments are actively implementing initiatives to reduce this excess use of zno in animal feed nowadays.
The properties such as excellent biocompatibility and others create substantial growth opportunities
Having excellent biocompatibility and low toxicity is anticipated to create lucrative opportunities for zinc oxide nanoparticles during the projected period. The Nanoparticles are expected to merge as an important element in anticancer and antibacterial applications.
The evaluation of the estimated sector, the zinc oxide side production in the multiple components bolsters the consumption at the CAGR 2.90% of 2019 to 2023. That is utilized in multiple end-use industries like rubber, paints and coating, personal care and cosmetics, textiles, and others. Zinc oxide is highly demanded in the personal care and cosmetic sectors for the formulation of numerous products due to the non-availability of appropriate knowledge and technologies for manufacturing techniques hampering the growth of revenues.
The continued research and development by the various academies is an upsurge in industry development. The manufacturers and the government are significantly investing in the research and innovation sector to develop economic growth and fulfill the consumer's needs.
Recently zinc oxide has gained popularity in the textile and pharmaceutical industries are estimated to expect a valuation of a CAGR of 6.4% through 2034 2034. The multipurpose use of zine-like in India is utilized for the construction sector also aided by the number of government flagships that promote the expansion of the market surge in the demand for zine oxide.
In the pharmaceutical industry, zinc oxide plays a vital role due to its biochemical properties and the advantageous characteristics of flourishing industry upswings. The rising focus on research and development are efforts to innovate product technologies that prioritize sustainability. This advancement offerings growth opportunities.
A deep analysis of segmentation is below. In terms of grade type, the industrial segment is estimated to account for a share of 74.9% by 2034. By application, the rubber sector is anticipated to dominate by holding a share of 46.3% in 2034.
| Segment | Industrial |
|---|---|
| Value Share (2034) | 74.9% |
The industrial grade is widely utilized due to its physical and chemical qualities, which make it suited for usage in a variety of end-use industries, including the rubber industry. Rubber is widely utilized in the automobile industry for the manufacture of tires and other vehicle components.
It is also utilized in a wide range of sectors, including building and construction, industrial machines, and others. The industrial grade of zinc oxide is less pure than the other two grades. Industrial-grade zinc oxide is widely used in the ceramics, chemical, paint and coatings, and rubber sectors.
| Segment | Rubber |
|---|---|
| Value Share (2034) | 46.3% |
The rubber subdivision accounted for the large revenue in the projected period. The rubber sector utilizes zinc oxide in large quantities as it’s the key significant application area. Rubber vulcanization has been used to formulate tires, hoses, sports equipment, shoe bottoms, and so on rubber goods. It is the procedure that turns natural rubber into a robust material.
In every component production, there are 50 % zine oxide has been used. The pigmentary abilities provided by zine oxide develop the capacity of the rubbers to protect the product from heat friction and improve performance. These are the foremost factors that influence the growth of this segment.
The zinc oxide industry builds greater dominance in the Asia Pacific and growth forefronts with India and China. Furthermore, the Germany and United Kingdom are the significant contributors in the market after India with a steady CAGR.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| United States | 3.6% |
| Germany | 3% |
| United Kingdom | 2.5% |
| China | 7.2% |
| India | 9.5% |
The zinc oxide market in the United States is projected to experience a moderate growth rate with a 3.6% CAGR over the forecast period.
The skincare products industry is ready to gain a prominent market share in the nation during the forecast period. The usage of zinc oxide has been increasingly seen in the production of sunscreens and other over-the-counter drugs (OTC) in the United States in recent years. For instance, the US Food and Drug Administration approved the inclusion of active ingredients in sunscreen in 2021. These ingredients include zinc oxide additives.
China’s zinc oxide market is expected to experience gradual growth in the years ahead, with a projected CAGR of 7.2% until 2034, signaling a promising outlook.
The enlarged rubber industry is accelerating the zinc oxide market growth in China in the current period. Zinc oxide is recognized as an important aspect of the vulcanization process in rubber manufacturing. As manufacturers are increasingly seeking out greater product output, as a result, producers are highly using zinc oxide in the rubber manufacturing process for the greater physical properties of these rubber products in China.
The India zinc oxide market is poised for steady success, with a projected compound annual growth rate (CAGR) of 9.5%, propelling it to new heights.
The rapid expansion of the pharmaceutical industry is leading the demand for zinc oxide in India's current period. As the rising concern about skin irritations like cuts, burns, and diaper rash, individuals are increasingly seen using zinc oxide-included products. Zinc oxide can control these types of issues and also healthcare professionals are prescribing these types of medicines in the country nowadays.
Manufacturers are constantly increasing their product capacities to meet the consumer's demand. Also, manufacturers are increasingly seen in investing research and development activities for the enhancement of production. Producers are highly introducing new machinery in their project sites to reduce production burdens from the laborers.
Moreover, the stakeholders are applying key strategies for brand promotions such as digital marketing and online advertisements. Also, manufacturers are targeting emerging economies where mega infrastructure projects are emerging. By diversifying the product offerings for industries such as rubber and ceramic industry, producers are ready to gain substantial market potential during the forecast period.
Acquisition, Partnerships, and Merger
In 2023, Nevada Zinc has recently formed a partnership with BelZinc, a renowned zinc oxide producer, to expand its production capabilities. This partnership will enable Nevada Zinc to leverage BelZinc's expertise and state-of-the-art facilities to produce high-quality zinc oxide and meet the growing demand for this essential ingredient in various industries. Together, they are committed to delivering innovative solutions and exceptional value to their customers.
In 2024, LBB Specialties has recently established a significant partnership with VIZOR, a well-known player in the industry. This strategic alliance will enable LBB Specialties to offer a wide range of innovative products and services to its clients, ensuring that they receive top-notch solutions for their respective needs. With VIZOR's expertise and LBB Specialties' strong market presence, this partnership is expected to bring about positive changes and contribute to the growth of the industry.
Depending on the grade type, the segment is divided into Industrial, Pharma, and Food
The process type is further separated into Wet Chemical, Indirect, and Direct
The usage of zinc oxide in applications such as Rubber, Ceramics, Chemicals, Cosmetics and personal care, Paints & Coatings, Pharmaceuticals, Agricultural
Regional analysis was conducted on the industry in North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
The CAGR of the industry from 2024 to 2034 in the United States is estimated to be 3.6%.
The industry is expected to grow at a CAGR of 6.4% from 2024 to 2034.
The industry is expected to be worth USD 4,449.6 million in 2024.
The CAGR of the industry from 2024 to 2034 in Germany is estimated to be 3%.
The industry is estimated to get as big as USD 8,273.5 million by 2034.
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Zinc Oxide Market
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