Zinc Oxide Market Trend, Share, Size, Analysis and Forecast 2032

Zinc Oxide Market: Size

The global Zinc Oxide market size was worth around USD 4.18 billion in 2023 and is predicted to grow to around USD 6.82 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.6% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Zinc Oxide market on a global and regional level.

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Global Zinc Oxide Market: Overview

Zinc oxide (ZnO) is a white inorganic solid powder. It is insoluble in water and non-flammable. The primary elements are closely connected to each other in order to merge, and further create a cluster in a typical atmosphere. Zinc oxide is mainly considered to be zincite in nature and is further removed after different processes of zinc oxide. Zinc Oxide is also noted for its unusual physiochemical properties such as catalytic, anti-corrosive, antifungal, anti-bacterial and UV filtering properties.

Global Zinc Oxide Market: Growth Factors

The increasing use of zinc oxide in the end-user industries and the increasing demand from the dye and paint industries are driving the global market for zinc oxide. It’s highly stable chemical and physical properties have gained immense prominence in the electronics industry, resulting in a growing demand for the global zinc oxide market. Zinc oxide is commonly used in pharmaceuticals to circulate colour and disease-specific properties. Zinc oxide is also used in chemicals used in agriculture, and is also the main factor responsible for the rise of the global demand for zinc oxide. Market participants are focused on partnership and mergers to create new technologies and to tap into opportunities in the solar and surface coating industries. These are the key reasons responsible for the accelerated growth of the global demand for zinc oxide. Moreover the demand from the rubber sector, owing to the high demand for vehicles, is also a development driver that motivates the global market for zinc oxide. Moreover, due to increasing demand, the global market for zinc oxide is projected to expand in a positive way in the future. However, sluggish economic growth and the introduction of new regulations related to the use of zinc have constrained the growth of the global demand for zinc oxide to some degree.

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Global Zinc Oxide Market: Segmentation

The global zinc oxide market is broadly segmented in various end-user industries such as rubber, chemicals, pharmaceuticals, agricultural, personal care, ceramics and many others from which rubber industry dominates the global zinc oxide market in terms of demand.

Further, based on applications, the global zinc oxide market is categorized as additive in plastic, glass, paints, lubricant, adhesive, and so on. 

Zinc Oxide Market: Report Scope

Global Zinc Oxide Market: Regional Analysis

Geographically, the Asia-Pacific region is leading the global market for zinc oxide due to the strong demand from the electronics industry, especially China. North American and European regions are projected to increase exponentially due to the increasing industrialisation of sub-regions in the immediate future.

Global Zinc Oxide Market: Competitive Players

Some main participants of the zinc oxide market are:

• BASF SE
• Hindustan Zinc Ltd.
• Pan-Continental Chemical Co. Ltd.
• Industrias Penoles
• Hakusui Tech Company Ltd.
• Korea Zinc Company Ltd.
• New Boliden AB
• Teck Cominco Ltd.
• Zinifex Ltd.
• Xstrata Plc
• Among others

The Global Zinc Oxide Market is segmented as follows:

By End-User 

• Rubber
• Chemicals
• Pharmaceuticals
• Agricultural
• Personal Care
• Ceramics
• Others

By Applications 

• Additive in Plastic
• Glass
• Paints
• Lubricant
• Adhesive

Zinc Oxide Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa