Zinc Oxide Market By Product Type (Zinc Oxide Powder, Zinc Oxide Granules, Zinc Oxide Paste, Zinc Oxide Nanoparticles), By Application (Rubber Manufacturing, Cosmetics and Personal Care, Pharmaceuticals, Agriculture, Paints and Coatings, Electronics and Electrical), By End-User Industry (Rubber and Plastics, Cosmetics and Personal Care, Pharmaceuticals & Healthcare, Agriculture, Paints & Coatings, Electronics and Electrical), and By Region; Global Insights & Forecast (2024 – 2030)

Published: January, 2025  
|   Report ID: CM6397  
|   Chemicals and Material

As per Intent Market Research, the Zinc Oxide Market was valued at USD 5.1 billion in 2023 and will surpass USD 7.7 billion by 2030; growing at a CAGR of 6.0% during 2024 - 2030.

The Zinc Oxide market is essential for a wide range of applications due to its versatile properties such as UV protection, anti-inflammatory effects, and catalytic capabilities. Zinc oxide is commonly used in industries like rubber manufacturing, cosmetics, pharmaceuticals, paints, coatings, agriculture, and electronics. The growing demand for sustainable, eco-friendly, and multifunctional materials has led to significant market expansion. It plays a critical role in the development of several products that address modern challenges such as UV protection, better agricultural yields, and more durable industrial materials.

The demand for zinc oxide has seen a steady rise across various sectors, with certain subsegments, such as rubber manufacturing and cosmetics, gaining more prominence due to their critical applications. This growth is particularly driven by ongoing technological advancements, the increasing focus on personal care products, and the growing awareness regarding health benefits in various industries. As the market expands, companies continue to innovate and develop advanced forms of zinc oxide to cater to these diverse applications.

Zinc Oxide Powder is Largest Product Type Owing to Versatility and Wide Application

Zinc Oxide Powder is the largest product type in the global zinc oxide market. Its widespread use in industries such as rubber manufacturing, paints, coatings, and agriculture makes it the most sought-after form of zinc oxide. The powder form is highly versatile, allowing for easy integration into various manufacturing processes, from the production of tires and rubber goods to coatings that provide UV protection. Additionally, the powder is integral in agriculture, where it is used as a micronutrient in fertilizers and a fungicide in pesticides, further driving its market demand.

The ease of handling, cost-effectiveness, and multifunctionality of zinc oxide powder make it the preferred choice across these industries. Furthermore, with the continued development of sustainable and health-conscious consumer products, the demand for zinc oxide powder in personal care products, such as sunscreens, has seen a steady rise. As the largest product segment, zinc oxide powder is expected to maintain its dominance throughout the forecast period.

Rubber Manufacturing is Fastest Growing Application Due to Expanding Demand in Automotive and Industrial Sectors

Rubber manufacturing is the fastest-growing application segment in the zinc oxide market. Zinc oxide plays a vital role in the vulcanization process, which is key to improving the elasticity, durability, and overall performance of rubber products. As the global automotive and industrial sectors expand, the demand for high-performance rubber goods continues to rise, significantly boosting the need for zinc oxide in rubber manufacturing. With the increasing demand for tires, automotive components, and industrial rubber goods, zinc oxide's role in rubber compounding and reinforcement is crucial.

The automotive industry, in particular, has seen robust growth, especially in emerging markets, leading to higher demand for rubber products. As a result, zinc oxide continues to be indispensable in this sector. Moreover, with rising concerns regarding sustainability and the environment, zinc oxide in rubber manufacturing contributes to the production of more durable and eco-friendly products, driving market growth further.

Pharmaceuticals & Healthcare is Largest End-User Industry Owing to Growing Demand for Health-Related Products

The pharmaceuticals and healthcare sector stands as the largest end-user industry for zinc oxide. This is primarily due to its essential role in formulations such as topical ointments, creams, and sunscreen lotions, owing to its anti-inflammatory, antimicrobial, and UV-blocking properties. Zinc oxide is a crucial ingredient in products designed to treat skin conditions like acne, diaper rash, and burns. Its widespread use in sunscreens further elevates its demand, as more consumers turn to dermatologically tested and health-conscious skin care products.

With an increase in the demand for personal care and healthcare products that provide both protection and healing properties, the pharmaceuticals and healthcare industry will continue to see consistent growth in the use of zinc oxide. The ongoing advancements in zinc oxide-based formulations, particularly in dermatological products, ensure that the industry remains a key driver of market demand.

Asia Pacific is Fastest Growing Region Due to Robust Industrialization and Rising Demand in Manufacturing Sectors

The Asia Pacific region is the fastest-growing market for zinc oxide. The region's rapid industrialization, coupled with the burgeoning automotive, electronics, and construction sectors, has driven an increasing demand for high-quality zinc oxide. Countries like China and India are witnessing substantial growth in the rubber and electronics industries, both of which rely heavily on zinc oxide in manufacturing processes. Additionally, with growing awareness of personal care products and agricultural needs, there is a heightened demand for zinc oxide in both cosmetic formulations and fertilizers.

The region's dominance is fueled by its low-cost manufacturing capabilities, coupled with rising domestic consumption. As economies in Asia Pacific continue to expand, the demand for zinc oxide, particularly in the rubber, agriculture, and electronics sectors, will remain a key factor propelling the market's growth.

Leading Companies and Competitive Landscape

Key players in the zinc oxide market include global leaders such as EverZinc, UMICORE, Shaanxi Huatao Group, American Zinc Recycling Corp., and Sumitomo Chemical Co., Ltd. These companies have established a strong market presence by focusing on product innovation, expanding production capacities, and catering to the growing demand across diverse end-user industries. Additionally, companies like Triveni Chemicals and Hindustan Zinc are continuously enhancing their offerings, particularly in specialized products like zinc oxide nanoparticles for use in cosmetics and healthcare.

The competitive landscape is shaped by a combination of global and regional players, with competition intensifying on product quality, pricing strategies, and customer service. Companies are also focusing on sustainability and eco-friendly practices, responding to the growing demand for more environmentally responsible products. Strategic collaborations, mergers, and acquisitions are expected to remain key strategies for companies aiming to expand their market share in the highly competitive zinc oxide market.

List of Leading Companies:

  • UMICORE
  • Zochem Inc.
  • American Zinc Recycling Corp.
  • EverZinc
  • Shaanxi Huatao Group
  • Pan-Continental Chemical
  • Hunan Jinwang Zinc Co., Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Triveni Chemicals
  • Brueggemann
  • Laiwu Iron & Steel Group
  • Hindustan Zinc
  • Balaji Industries
  • JIANGSU SHANDONG ZINC INDUSTRY
  • Global ZINC

Recent Developments:

  • EverZinc has announced the opening of a new production facility in Europe aimed at increasing production capacity for high-quality zinc oxide used in the rubber and coatings industries.
  • UMICORE, a global leader in zinc oxide production, has expanded its recycling operations to meet growing demand for eco-friendly and sustainable zinc oxide solutions, focusing on the automotive sector.
  • American Zinc Recycling has entered into a strategic partnership with major rubber manufacturers to provide high-purity zinc oxide for the automotive and construction industries, enhancing their product offerings.
  • Hindustan Zinc has announced an investment in research and development aimed at producing zinc oxide nanoparticles for use in cosmetics and pharmaceuticals, enhancing product safety and effectiveness.
  • Triveni Chemicals has received regulatory approval for a new zinc oxide formula designed for use in high-performance paints and coatings, offering improved durability and UV resistance.

Report Scope:

Report Features

Description

Market Size (2023)

USD 5.1 Billion

Forecasted Value (2030)

USD 7.7 Billion

CAGR (2024 – 2030)

6.0%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Zinc Oxide Market By Product Type (Zinc Oxide Powder, Zinc Oxide Granules, Zinc Oxide Paste, Zinc Oxide Nanoparticles), By Application (Rubber Manufacturing, Cosmetics and Personal Care, Pharmaceuticals, Agriculture, Paints and Coatings, Electronics and Electrical), By End-User Industry (Rubber and Plastics, Cosmetics and Personal Care, Pharmaceuticals & Healthcare, Agriculture, Paints & Coatings, Electronics and Electrical)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

UMICORE, Zochem Inc., American Zinc Recycling Corp., EverZinc, Shaanxi Huatao Group, Pan-Continental Chemical, Hunan Jinwang Zinc Co., Ltd., Sumitomo Chemical Co., Ltd., Triveni Chemicals, Brueggemann, Laiwu Iron & Steel Group, Hindustan Zinc, Balaji Industries, JIANGSU SHANDONG ZINC INDUSTRY, Global ZINC

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Zinc Oxide Market, by Product Type (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Zinc Oxide Powder

   4.2. Zinc Oxide Granules

   4.3. Zinc Oxide Paste

   4.4. Zinc Oxide Nanoparticles

   4.5. Others

5. Zinc Oxide Market, by Application (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Rubber Manufacturing

   5.2. Cosmetics and Personal Care

   5.3. Pharmaceuticals

   5.4. Agriculture (Fertilizers, Pesticides)

   5.5. Paints and Coatings

   5.6. Electronics and Electrical

   5.7. Other Applications

6. Zinc Oxide Market, by End-User Industry (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. Rubber and Plastics

   6.2. Cosmetics and Personal Care

   6.3. Pharmaceuticals & Healthcare

   6.4. Agriculture

   6.5. Paints & Coatings

   6.6. Electronics and Electrical

   6.7. Other Industries

7. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Regional Overview

   7.2. North America

      7.2.1. Regional Trends & Growth Drivers

      7.2.2. Barriers & Challenges

      7.2.3. Opportunities

      7.2.4. Factor Impact Analysis

      7.2.5. Technology Trends

      7.2.6. North America Zinc Oxide Market, by Product Type

      7.2.7. North America Zinc Oxide Market, by Application

      7.2.8. North America Zinc Oxide Market, by End-User Industry

      7.2.9. By Country

         7.2.9.1. US

               7.2.9.1.1. US Zinc Oxide Market, by Product Type

               7.2.9.1.2. US Zinc Oxide Market, by Application

               7.2.9.1.3. US Zinc Oxide Market, by End-User Industry

         7.2.9.2. Canada

         7.2.9.3. Mexico

    *Similar segmentation will be provided for each region and country

   7.3. Europe

   7.4. Asia-Pacific

   7.5. Latin America

   7.6. Middle East & Africa

8. Competitive Landscape

   8.1. Overview of the Key Players

   8.2. Competitive Ecosystem

      8.2.1. Level of Fragmentation

      8.2.2. Market Consolidation

      8.2.3. Product Innovation

   8.3. Company Share Analysis

   8.4. Company Benchmarking Matrix

      8.4.1. Strategic Overview

      8.4.2. Product Innovations

   8.5. Start-up Ecosystem

   8.6. Strategic Competitive Insights/ Customer Imperatives

   8.7. ESG Matrix/ Sustainability Matrix

   8.8. Manufacturing Network

      8.8.1. Locations

      8.8.2. Supply Chain and Logistics

      8.8.3. Product Flexibility/Customization

      8.8.4. Digital Transformation and Connectivity

      8.8.5. Environmental and Regulatory Compliance

   8.9. Technology Readiness Level Matrix

   8.10. Technology Maturity Curve

   8.11. Buying Criteria

9. Company Profiles

   9.1. UMICORE

      9.1.1. Company Overview

      9.1.2. Company Financials

      9.1.3. Product/Service Portfolio

      9.1.4. Recent Developments

      9.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   9.2. Zochem Inc.

   9.3. American Zinc Recycling Corp.

   9.4. EverZinc

   9.5. Shaanxi Huatao Group

   9.6. Pan-Continental Chemical

   9.7. Hunan Jinwang Zinc Co., Ltd.

   9.8. Sumitomo Chemical Co., Ltd.

   9.9. Triveni Chemicals

   9.10. Brueggemann

   9.11. Laiwu Iron & Steel Group

   9.12. Hindustan Zinc

   9.13. Balaji Industries

   9.14. JIANGSU SHANDONG ZINC INDUSTRY

   9.15. Global ZINC

10. Appendix

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A comprehensive market research approach was employed to gather and analyze data on the Zinc Oxide Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Zinc Oxide Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Zinc Oxide Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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