Zinc Oxide Market Share

Global Zinc Oxide Market Overview

The Zinc Oxide Market Size was valued at USD 5.40 Billion in 2023. The Zinc Oxide industry is projected to grow from USD 4.0 Billion in 2024 to USD 9.66 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.8% during the forecast period (2024 - 2032). The growth in the market is driven by the increasing use of zinc oxide in various applications including, cosmetics, rubber, and ceramics. Further, research & developments of ZnO nanoparticles and their adoption in several applications are the factors playing a key role in the market.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Zinc Oxide Market Trends

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  Rising Need to Remove Micronutrient Deficiency from Soil to Increase the Consumption of Zinc Oxide in the Agriculture Industry.

  
  

ZnO is identified as a crucial micronutrient to grains and plants and acts as the best alternative for zinc sulfate in most fertilizers as a source of zinc element. The use of these supplements in soil reduces zinc deficiency, seed coating, and root dipping before crop transplants and increases crop yields. It acts as an enzyme system that regulates plant growth. ZnO is majorly utilized in fruit trees and grapevines. For instance, the company Everzinc produces Afox 72–75, for compensation for zinc deficiency. Hence, the need to produce more food grains on limited arable land and to minimize the micronutrient deficiency in soils are the factors driving the market.

Additionally, The development of ZnO nanoparticles has increased the potential in biomedicine, mainly in anticancer and anti-bacterial fields. These nanoparticles can generate excess reactive oxygen species, release zinc ions, and encourage cell apoptosis. Furthermore, zinc can maintain the structural integrity of insulin, and hence, zinc oxide nanoparticles can be developed for antidiabetic treatment. Hence, increasing consciousness regarding the effects of UV rays on the skin, coupled with rising awareness regarding the benefits of ZnO will fuel the demand in the cosmetics & pharmaceuticals industry.

Zinc Oxide Market Segment Insights

Zinc Oxide Process Insights

The Zinc Oxide market segmentation, based on Process, includes French/indirect process, American / direct process, wet process, and others. Amongst these, the French/indirect process is the leading segment. In this process, the metallic zinc is collected and melted in a furnace and vaporized at a temperature between 900°C to 1000°C in the air. The zinc vapor reacts with the oxygen to form ZnO. According to the Iraqi Journal of Chemical and Petroleum Engineering, the French process is purer and finer than the American process. Hence, in comparison with other processes, the French process is widely used for production. In the American process, zinc composites such as zinc ores or smelter by-products are heated with carbon to produce zinc vapors that are oxidized to form zinc oxide.

Zinc Oxide GRADES Insights

Based on GRADES, the Zinc Oxide market segmentation includes standard, chemical, pharma, food, and others. The standard grade accounted for the highest zinc oxide market share. It has a purity between 99 to 99.5% and is majorly used in rubber and ceramic applications. The growing application of zinc oxide for the manufacturing of tires and mechanical rubber goods in the automotive industry will boost the market growth. Whereas, ceramics are majorly utilized in the consumer goods industry due to their superior properties such as lightweight, corrosion-resistance, high-temperature stability, and low thermal expansion. Hence, the growth in the rubber and ceramic industry will spur the demand for the standard grade.

The chemical grade has purity between 96 to 99% and is majorly utilized in paints & coatings and chemical applications. The growth in the construction industry has led to an increase in the demand for paint in decorating residential and non-residential infrastructures & buildings. In the chemical industry, ZnO is used as a key ingredient to produce zinc sulfate. Further, zinc sulfate helps to prevent zinc deficiency in the human body. The rapidly growing paints & coatings and chemical industries will lead to the demand for a chemical grade.

Figure 2: Zinc Oxide Market, by Process, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Zinc Oxide Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific holds the highest revenue share of the zinc oxide market in which China, India, and Southeast Asian countries are the leading contributors. The growth in this region is attributed to the growing demand for rubber applications. Zinc oxide is used for vulcanizing the rubber that is mainly utilized in the automotive industry. The use of rubber in the automotive industry can be seen in the manufacturing of many automotive parts such as tires, automotive antivibration, transmission systems, molded parts, spare parts, body sealing systems, and adhesives. Hence, increasing demand for rubber from the automotive industry will drive the market in the Asia Pacific.

Figure 3: ZINC OXIDE MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

In Europe, Germany is the largest contributor to the zinc oxide market. The increasing demand for ZnO 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 ZnO 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 ZnO in Europe. North America is expected to witness comparatively slow growth in the market during the forecast period, owing to the decreasing rubber production in the region. However, an increase in demand for ZnO from the cosmetics & pharmaceutical industry, owing to its ability to prevent sunburn, and premature aging of the skin, and protect the skin from UV lights, will serve as a driving factor for the ZnO market in North America.

Zinc Oxide Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Zinc Oxide market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Zinc Oxide industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Zinc Oxide. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Zinc Oxide industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Zinc Oxide industry to benefit customers and expand the market sector. The Zinc Oxide market has recently given medicine some of the most important advantages. Major Zinc Oxide market players, including Zochem (US), SILOX SA (Belgium), American Chemet Corporation (US), H. Chemicals (Canada) and others, are attempting to increase market demand by funding R&D initiatives.

American Chemet is a privately owned manufacturer and marketer of cuprous oxide, cupric oxide, zinc oxide, copper powder, copper oxide agricultural fungicides, and related products. Chemet is best known for its variety of copper oxides. Since the 1970's the company has produced both cuprous oxides and cupric oxides which are sold around the world for use in antifouling coatings, catalysts, agricultural applications, ceramics, copper chemicals, and ferrites.

Also, Gharda Chemicals is a chemical manufacturer. It offers intermediates, polymers, pigments, plant protection and public health products, dyestuffs, pesticides, and veterinary drugs.

Key Companies in the Zinc Oxide market include

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  Zochem (US)

  
  


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  SILOX SA (Belgium)

  
  


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  American Chemet Corporation (US)

  
  


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  H. Chemicals (Canada)

  
  


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  Rubamin (India)

  
  


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  Grillo Zinkoxid GmbH (Germany)

  
  


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  Pan-Continental Chemical Co., Ltd (Taiwan)

  
  


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  Mario Pilato Blat, and

  
  


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  SA (Spain)

  
  

Zinc Oxide Industry Developments

In July 2021, Vizor LLC announced the launch of two new next-generation inorganic sunscreen ingredients based on patent-pending surface modification technology, which can offer significantly superior SPF values with better performance and less material than conventional zinc oxide ingredients. Super Zinc 1000 and Super Zinc Natural offer lower viscosity, superior wetting, and better dispersibility in formulation, enabling better transparency and 50%-100% higher SPF values. The ingredients focus on the growth of appealingly pleasant sunscreen for the FDA Category the color, anti-aging, skincare, and sun care cosmetic products, which can meet upcoming EU Monograph requirements and FDA Sunscreen Monograph requirements UVA/UVB protection. Super Zinc ingredients are environmentally safe and proven safe for aquatic life by an EPA-certified testing laboratory. The company believes that the sun protection Zinc oxide market is stronger than ever and provides a lucrative opportunity for consumers who modernize with consumer requirements in mind. In both Super Zinc 1000 and Super Zinc Natural, Vizor’s patent-pending surface modification technology enhances the SPF value per unit of zinc oxide, causing a complete, uniform coating of the zinc oxide particles.

Zinc Oxide Market Segmentation

Zinc Oxide Process Outlook

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  French/ Indirect Process

  
  


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  American / Direct Process

  
  


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  Wet Process

  
  


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  Others

  
  

Zinc Oxide Grade Outlook

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  Standard

  
  


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  Chemical

  
  


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  Pharma

  
  


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  Food

  
  


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  Others

  
  

Zinc Oxide Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America