According to the report, the zinc oxide market was estimated at USD 5.21 billion in 2022 and is likely to grow at a CAGR of 6.82% during 2023-2028 to reach USD 7.75 billion in 2028.
What is zinc oxide?
ZnO stands for Zinc oxide. It is an insoluble and inorganic compound used as an additive in various products such as cosmetic creams, rubber, paints, ceramics, foods, lubricants, batteries, plastics, medical, and others. This also plays a pivotal role in obstructing harmful rays.
Leading players in the market -
To build a successful business, it is vital to understanding the market - both the customers and the competitors. The report published consists of a list of key players active in the Zinc Oxide Market, which is given below -
- Zochem Inc.
- EverZinc Belgium SA
- ZM Silesia SA.
- Akrochem Corporation
- J. G. Chemicals Pvt. Ltd.
- Pan-Continental Chemical Co Ltd.
- Umicore SA
- Rubamin Limited
- Showa Denko KK
- Advanced Nano Technologies Ltd.
Market Dynamics
There are a number of factors that drive the global zinc oxide market. A few of them are mentioned below-
- Wide usage of zinc oxide in various applications – Zinc oxide is an inactive white compound that is used very widely as a bulking agent or filler and as a white pigment. This is used in different industries and in various applications such as – cosmetics, food supplements, ceramics, and more. The growing usage of all these products hence, increases the demand for zinc oxide.
- Usage of Zinc oxide in rubber used for Tires - Zinc oxide (ZnO) possesses excellent properties that act as activators for the vulcanization of rubber. This makes it the best material for manufacturing tires for the automotive industry. Around 75% of the rubber produced across the globe is used in tire production and the automotive industry is expected to grow leaps and bounds in the coming years. This creates a high demand for zinc oxide materials.
- Growing construction industry – The global construction industry is predicted to reach USD 13.3 trillion by 2025, according to Oxford Economics. With the rising construction industry, demand for materials used in the industry also grows. Zinc oxides are used in architectural applications for rainwater systems, cladding, and roofing, and are alloyed with copper and titanium.
- Emerging applications in the electronics industry – Zinc oxide is used in electronic components due to its unique electric and semiconducting properties. The expanding electronics industry and the development of innovative electronic devices create a great opportunity for zinc oxide applications.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Zinc Oxide Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market Segment Analysis and Forecast
Which are the top players and their market positioning?
Competitive landscape analysis, Market share analysis
How complex is the business environment?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirements?
10% free customization
Report Findings
The market is segmented as agriculture, ceramics, rubber, chemicals, pharmaceuticals, cosmetics & personal care, and others. The rubber segment accounted for the largest market share of more than 40% in 2022 and is projected to register significant growth during the review period. The growth of the segment is owing to the durability of ZnO, which is used for the vulcanization of rubber, used to manufacture tires.
The market is segmented into wet-chemical, American, and French processes. The french process segment accounted for the largest market share of more than 80% in 2022 and is projected to register significant growth during the forecast period as Zinc produced by using this process is very fine in size and possesses good dispersion and slow settling rates.
Asia-Pacific accounted for the largest market share of 30% in 2022, as well as the fastest-growing market for ZnO during the forecast period, with China and India, being the major countries with lucrative growth opportunities. One of the major driving factors is the rapid growth of the personal care products and cosmetics market in the region, with China being the largest exporter of ZnO.
Research Methodology
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
The research report aims to help the users learn about their market size and potential to connect with customers. This report answers the following questions:
· How big is the potential Zinc Oxide Market?
· Will this market grow or shrink in the future?
· Who are our top competitors or key players?
· What market share do the competitors own?
· How Covid19 has affected the market?
· How long will it take to recover from the Covid-impact?
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