Zinc oxide (ZnO) might not be a household name, but it's a hidden champion in our everyday lives. This white, inorganic compound is a jack-of-all-trades, finding applications in various industries from rubber to cosmetics. This information is stated by Fortune Business Insights, in its report, titled, “Zinc Oxide Industry Size Report, 2032” The development in the global market is fueled by the growing usage of zinc oxide in several applications including, rubber, ceramics and cosmetics. Additionally, research & developments of ZnO nanoparticles and their implementation in numerous applications are vital in the market.

Market on the Rise

The global zinc oxide industry reached a valuation of USD 4.10 billion in 2018 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% during the forecast period, eventually reaching USD 6.36 billion by 2026. The Asia Pacific region alone contributed a significant portion to this growth, with the zinc oxide market size in the region increasing from USD 2.12 billion in 2018 to USD 2.24 billion in 2019.

Zinc Oxide's Diverse Applications

• Rubber Rules the Roost: The rubber industry is the biggest consumer of zinc oxide. It acts as a key activator during rubber vulcanization, a process that strengthens and improves the material's properties. This makes ZnO essential for tires, shoe soles, and many other rubber products.
• Ceramics and Glass Get a Boost: In the world of ceramics and glass, zinc oxide plays a crucial role. It lowers the melting temperature, leading to more efficient production and enhanced performance of construction materials.
• Cosmetics Embrace Sun Protection: Zinc oxide is a superstar in the personal care and cosmetics industry. It functions as a broad-spectrum UV absorber, shielding our skin from harmful sun rays. You'll find it in sunscreens, lotions, and makeup.
• Beyond the Big Three: ZnO has a presence in various other industries such as paints and coatings, pharmaceuticals, and agriculture. Its potential for biomedical applications like anti-cancer treatments is also being explored.

Source- https://www.fortunebusinessinsights.com/zinc-oxide-market-102480 

A Bright Future for Zinc Oxide

The zinc oxide industry is driven by several factors:

• Rising Demand in End-Use Industries: As the rubber, ceramics, and cosmetics sectors flourish, the demand for zinc oxide is expected to climb.
• Multifunctional Marvel: ZnO's diverse applications across various industries solidify its market position.
• Innovation Breeds Opportunity: Ongoing research into new applications like biomedicine creates exciting possibilities for future growth.

The Road Ahead

The zinc oxide industry faces challenges like fluctuating zinc metal prices and stricter environmental regulations. However, with its vast applications and ongoing research, the future looks bright for this versatile material.

Segmentation

French / Indirect Process to Lead During Forecast Period

The market is segmented into French/indirect process, American / direct process, wet process, and others. Amongst these, the French/indirect process is the leading segment.

Standard Grade to Generate the Highest Revenue

Based on the grades, the market is categorized into standard, chemical, pharma, food, and others. The standard grade accounted for the highest zinc oxide market share. It has purity between 99 to 99.5% and particularly used in rubber and ceramic applications.

Rubber Application to be a Leading Segment during the Forecast Period

Based on the application, the market is segmented into rubber, ceramic, chemical, agriculture, paints & coatings, cosmetics & pharmaceuticals, and others. The rubber application is the leading segment in the market.

Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Driving Factors

Increasing Adoption of Zinc Oxide in Rubber Production to Surge Demand

Zinc oxide is used as an effectual activator that escalates the rate of rubber vulcanization. Every year, over 65% of rubber is consumed for the production of road tires and automotive interiors such as airbags, radiator seals, and ventilation flaps. It offers effective gelation to foam, high heat resistance, and UV rays’ absorption properties. These properties have enhanced the demand for ZnO powder from the rubber industry. The growing need for rubber from the automotive industry for the manufacturing of tires and other rubber products has led to the demand.  

Regional Insights

Asia Pacific to Hold Dominance during Forecast Period

Asia Pacific holds the highest revenue share of the zinc oxide market in which some Southeast Asian countries including India and China are the leading contributors. The development in this region is attributed to the increasing demand in rubber applications.

In Europe, Germany is the biggest contributor to the zinc oxide market. The growing demand for ZnO from the ceramic and rubber applications supplements to the growth in this region. Zinc oxide is used as an additive in ceramic and rubber applications.

North America is estimated to witness relatively sluggish growth in the market during the forecast period, due to the decreasing rubber production in the region.

List of Key Players Covered in the Report

• Spirochem Lifesciences Private Limited
• Cosmo Zincox Industries
• UCA Lanka Pvt. Ltd
• Rubamin
• S. Zinc
• Hemadri Chemicals
• Zochem