Zinc Oxide Market Size, Demand Insights
The Global "Zinc Oxide Market" is Expected to reach at a CAGR of YY% during the forecast period 2024-2031.
Market Scope and Summary
Metrics | Details |
Market CAGR | High |
Segments Covered | By Process, By Grade, By Application, and By Region |
Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
Fastest Growing Region | Asia Pacific |
Largest Market Share | North America |
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Zinc oxide is a white water-insoluble powder. A few examples of materials and products that contain zinc oxide include cosmetics, food supplements, ointments, adhesives, sealants, rubbers, plastics, ceramics, glass, cement, lubricants, paints, pigments, foods, batteries, ferrites, fire retardants, first-aid tapes. Even though zinc oxide is found naturally in the mineral zincite, the majority of zinc oxide is synthesized.
ZnO is a semiconductor with a broad bandgap that belongs to the II-VI group due to the n-type doping of the semiconductor caused by oxygen vacancies or zinc interstitials. Good transparency, high electron mobility, a broad bandgap, and strong room-temperature luminescence are also advantages. Because of the aforementioned qualities, ZnO is being used in a range of new applications, including energy-saving or heat-protecting windows, transparent electrodes in liquid crystal displays, and electronics such as thin-film transistors and light-emitting diodes.
Source: DataM Intelligence Analysis (2023)
Market Dynamics and Trends
The growth experienced in demand for rubber and cosmetics tends to accelerate the growth of zinc oxide since it finds application in the respective industry as a raw material. However, the growing environmental awareness and the negative impact of zinc oxide on the environment major restraints.
Growing demand for zinc oxide in rubber and cosmetic markets
Zinc oxide (ZnO) is a chemical that is frequently utilized in the rubber industry because of its great qualities as a vulcanization activator. Vulcanization is a chemical process that turns natural rubber into a more durable material. As a result, zinc oxide strengthens rubber composites, enhances their resilience to heat and abrasion, and protects them from ultraviolet degradation. Zinc oxide is widely used in the rubber sector because of its numerous optical, physical, and chemical qualities. For example, tires require a high zinc oxide loading for durability and heat conductivity. The chemical is vital in manufacturing tires to prevent heat buildup at high speeds to maintain vehicle safety.
Similarly, zinc oxide is widely used in cosmetics and personal care, including mineral makeup. Mineral makeup has become quite a breakthrough in the cosmetic market in recent years due to its aesthetic and skin-care benefits. Mineral makeup's success subsequently translated into a surge in demand for this new generation of cosmetics, made entirely of natural, finely powdered earth components. Many brands and producers market cosmetics free of any chemicals, colors, or preservatives found in traditional makeup.
Since zinc is an earth element beneficial to all skin types, it is crucialn to give mineral cosmetics a marketable image. Zn-based cosmetics were made more agreeable for patients with particular skin disorders by eliminating the common irritants included in standard makeup formulas. As a result, the demand for zinc oxide in the cosmetic industry has grown exponentially. Since increasing demand for zinc oxide in the rubber and cosmetic industry boosts its demand, production, and sales, the respective factor is considered a major market driver for the global zinc oxide market.
The negative impact of zinc oxide on the environment and growing environmental awareness
Zinc-oxide nanoparticles find extensive commercial applications in various industrial sectors. However, since zinc oxide tends to enter the soil environment, the toxicity of zinc-oxide nanoparticles, the establishment of environmental health criteria, and the acceptance of metal nanoparticle toxicity limits are all issues that need to be addressed.
Soil is an important natural reserve that is affected by zinc oxide nanoparticles. The respective presence could hamper various physicochemical and biological processes that could harm the ecosystem. Further, these zinc oxide particles from the ground could be taken by plants and accumulate in plant tissues, including edible sections, or leach into groundwater, contaminate them and disrupt the living organisms. Nonetheless, due to the growing environmental awareness, people are aware of the repercussions of zinc oxide nanoparticles on the environment and take measures to limit their exposure. Since the environmental problems associated with zinc oxide and growing awareness regarding them could limit their demand and sales, the respective factors could be recognized as a major market restraint for the market.
COVID-19 Impact on Zinc Oxide Market Growth
The impact of the COVID-19 pandemic on the zinc oxide market was disastrous and resulted in a significant curtail of the market. Zinc oxide production has been affected by a lack of raw materials, skilled personnel, and production disruptions in the manufacturing process, hampered by industry lockdowns and a demand for social isolation. Further, the lockdown imposed in reaction to the COVID-19 outbreak impeded the delivery of finished goods, generating substantial supply-demand disruptions in the market.
Despite disruptions in the zinc oxide market's production process and raw materials and final product supply chain, the industry is likely to develop in the post-COVID-19 period due to increased demand for zinc oxide as a raw material in rubber, automotive, and cosmetics. Factors such as the growing influence of social media and a desire for a more aesthetically pleasing appearance are driving demand for mineral-based cosmetics, which will drive the global zinc oxide market forward in the post-COVID-19 future.
Market Segment and Shares Analysis
The global zinc oxide market is segmented based on process, grade, application, and region.
The high demand for rubber in the manufacture of tires allows the rubber segment to dominate the application segment of the market.
Based on application, the global zinc oxide market is segmented into rubber, ceramics, chemicals, agriculture, cosmetics and personal care, pharmaceuticals, and others. The rubber sector dominates the application segment of the market. Zinc oxide (ZnO) is a chemical that is frequently utilized in the rubber industry because of its great qualities as a vulcanization activator. Vulcanization is a chemical process that turns natural rubber into a more durable material. As a result, zinc oxide strengthens rubber composites, enhances their resilience to heat and abrasion, and protects them from ultraviolet degradation. Zinc oxide is widely used in the rubber sector because of its numerous optical, physical, and chemical qualities.
For example, vulcanized rubber is used in the tire business and they require a high zinc oxide loading for durability and heat conductivity, which is crucial to prevent heat buildup in tires at high speeds to ensure vehicle safety. Due to increased tire production, the rubber industry absorbed more than half of the ZnO produced globally in 2018. Zinc oxide consumption is predicted to rise in response to the rising demand for rubber in tires and other non-tire uses.
Source: DataM Intelligence Analysis (2023)
Market Geographical Analysis
The growing advancements in production processes and growing demand from various industrial verticals allow North America to dominate the regional segment of the global zinc oxide market.
The Asia-Pacific is expected to lead the ZnO market as the respective region is currently the world's greatest producer of zinc oxide. China is the world's largest producer, and consumer and one of the world's top exporters of zinc oxide. During the foreseeable period, a similar trend is expected to continue. Furthermore, the existence of a major industrial base in the region, which houses many industries such as glass, pharmaceuticals, and rubber production, is likely to play a significant role in driving zinc oxide market expansion in the region throughout the forecast period.
Further, the Increased disposable income of Asia-Pacific countries boosts the growth of industries such as cosmetics, personal care, and paints & coatings. The region's rapid industrialization, along with an increase in investments in the aforementioned industries, also fuels the growth of the respective market in the region.
Source: DataM Intelligence Analysis (2023)
Companies and Competitive Landscape
The global zinc oxide market is stagnant in terms of the number and size of global and local competitors. The market is categorized as consolidated because of the presence of only a few manufacturers that control the majority of the market share. U.S. Zinc, Zochem, EverZinc, ZM Silesia, Akrochem, Rubamin, Pan-Continental Chemical, Elementis Specialties, Inc, Hakusui Tech Co., Ltd. and Grillo-Werke AG are some of the major market players. The key market stakeholders utilize market tactics such as mergers, acquisitions, product launches, contributions, and partnerships to gain competitive advantages and recognition in their respective markets.
For instance, on October 26, 2021, Zinc Nacional, a manufacturer of high-quality zinc compounds, announced plans to expand its manufacturing capacity. A 7,000-ton-per-year French process zinc oxide facility will be built in Mexico, followed by a 10,000-ton-per-year facility in the U.S.
U.S. Zinc
Overview: U.S. Zinc, headquartered in Texas, U.S., has been a global leader in the added value zinc products market, with the world's biggest single-site distilled dust factory. Zinc oxide is made from high-grade (HG) and special-grade (SHG) zinc metal, as well as zinc secondaries. Zinc from the United States For more than 65 years,
The company provides best-in-class products to various industries, from the purest, highest-grade zinc oxide to the most environmentally friendly recycled zinc dust. All have a track record of routinely meeting the highest quality and service requirements. By reclaiming nearly 80% of its zinc, the company contributes to the circular economy, minimizing waste and reusing commodities to ensure long-term sustainability.
Product Portfolio:
- Zinc Oxide: In unfavorable settings, zinc oxide provides long-term protection from damaging UV rays. UV protection is essential for the long-term functioning of substrates and their coatings. Zinc oxide can be found in various sunscreens and is one of the most commonly found components in sunscreens. Zinc oxide is produced in the 20–60 nm size range for usage in cosmetic products
Key Development:
- For instance, on January 07, U.S. Zinc, a leading manufacturer of zinc oxide, Prime Western grade zinc metal products, and zinc dust sold to the tire, chemical, coatings, and agriculture markets, was acquired from Votorantim Group by Aterian Investment Partners, a private investment firm in a global carve-out transaction.
Why Purchase the Report?
- To visualize the global zinc oxide market segmentation by process, grade, application, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the global zinc oxide market by analyzing trends and co-development.
- Excel data sheet with numerous zinc oxide market-level data points with four segments.
- PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping available as excel consisting of key products of all the major market players
The global zinc oxide market report would provide approximately 61 tables, 64 figures, and almost 180 pages.
Target Audience 2023
- Zinc Oxide Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
- Logistics companies
- Distributors/ Suppliers
