Global Zinc Oxide Market to Grow at a CAGR of 6.1% over the Forecast Period of 2024-2032

The global zinc oxide market is being driven by the expanding rubber and automotive industry coupled with its high demand from the ceramic sector. The Asia Pacific is the leading market for the global zinc oxide industry, accounting for 58% of the total supply. Within the Asia Pacific, China serves as the leading manufacturer of zinc oxide owing to the high accessibility of raw materials, further emerging as the major exporter of the product, primarily exporting to Thailand, Indonesia, and Vietnam. The growing automotive sector in emerging countries such as China and India are driving the demand for zinc oxide in the Asia Pacific. The major application sectors of zinc oxide include rubber, ceramic, and chemicals, accounting for almost 80% of the total market share. North America is the leading net exporter of zinc oxide owing to its convenient access to the raw material, while Europe serves as a significant importer of the product due to increased feedstock and regulatory constraints in the region.

In October 2017, Zinc Oxide LLC, a leading player in the zinc oxide market, acquired Zochem, a subsidiary of American Zinc Recycling LLC, to become a leading North American producer of zinc oxide. The company announced that they will together generate sales of approximately USD 250 million in 2017, becoming approved suppliers to 88% of the total North American zinc oxide market. In November 2016, Umicore N.V. (OTCMKTS: UMICY), another leading player in the industry, announced the acquisition of its zinc chemicals business by OpenGate Capital, which renamed it to EverZinc, further expanding the production of its fine zinc powders, zinc oxide, and zinc for batteries, fulfilling the global demand for the products. Such developments are expected to aid the market for zinc oxide further.

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Market Breakup by Applications and Regions:

• Zinc oxide finds its applications in sectors such as rubber, ceramic, chemical, and electronics industries, among others.
• Region-wise, the global zinc oxide market can be divided into North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The expanding electronics industry, along with the rising demand for advanced gadgets, is driving the growth of the global zinc oxide industry. 
• Zinc oxide, which is majorly used in the rubber industry to produce tyres, is witnessing an increased demand due to the growing automotive sector. 
• The growing cosmetics and personal care sector is providing further impetus to the industry growth as zinc oxide is widely used to manufacture products such as sunscreens, baby lotions, etc.
• Increasing urbanisation and rising disposable incomes, leading to the increased per capita spending on premium quality products in the emerging economies, is further propelling the industry forward.

Key Offerings of the Report:

• The EMR report gives a detailed overview of the global zinc oxide market, providing an insight into the applications and regional markets of the product for the periods (2018-2023) and (2024-2032). 
• The report gives the regional historical (2018-2023) and forecast (2024-2032) price trends of zinc oxide. 
• The global trade data analysis has also been provided in the report by EMR, covering the value and volume of the leading importing and exporting countries.

The major players in the global zinc oxide market are Umicore N.V., Zinc Oxide LLC, US Zinc Corp., Hebei Botai Environmental Protection Technology Co., Ltd, Co.Ge.Fin. S.p.A., Rubamin Ltd, and Zinc Nacional, S.A, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players. 

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