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Base Year
Historical Year
Forecast Year
The global zinc oxide market reached a value of nearly USD 4.69 billion in 2023. The market is expected to witness a further growth in the forecast period of 2024-2032 at a CAGR of 6.1%. It is expected to reach a value of nearly USD 7.97 billion by 2032.
Global Zinc Oxide Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 4.69 |
Market Size 2032 | USD Billion | 7.97 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 6.1% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 7.9% |
CAGR 2024-2032 - Market by Country | India | 9.1% |
CAGR 2024-2032 - Market by Country | China | 7.6% |
CAGR 2024-2032 - Market by Application | Rubber | 6.9% |
Market Share by Country 2023 | Brazil | 2.2% |
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The significant factors driving the growth of the market are the rising end-use demand from advanced electronics and cosmetics sectors, particularly from emerging economies such as India, Brazil, and China. Rubber, ceramic, and chemical together account for the largest application market share of zinc oxide, representing nearly 80% of its total global applications. The electronics segment is expected to overshadow the rubber and chemical segments in the coming years due to the rising innovations taking place within the sector.
The Asia Pacific is the leading regional market for zinc oxide, accounting for 58% of the total supply of the product. The growth of the zinc oxide market in the Asia Pacific region owes to the rapidly increasing automotive demand in China and India. Most manufacturing plants are situated in Asia, with China being the centre of manufacture of the product due to the high access to raw materials. China is currently exporting zinc oxide, primarily to Thailand, Indonesia, and Vietnam. Taiwan, India, and China are the largest exporters of the product within the region. North America continues to be the largest net exporter due to its convenient access to raw material, while Europe is a significant importer due to feedstock and regulatory constraints. The United States primarily imports from Canada and Mexico. Although the Netherlands and Germany are majorly the exporting nations, there are many intra-regional imports in these countries for the transport of raw materials and finished goods.
Zinc oxide refers to an inorganic compound. Its formula is ZnO. It is a white powder that is not soluble in water. It finds its application as an additive in a wide range of products, like rubber, ceramics, plastics, glass, concrete, lubricants, ointments, paints, adhesives, pigments, sealants, meat, batteries, fire retardants, ferrites, and first aid films. Even if it naturally occurs as mineral zincite, the majority of zinc oxides are synthetically produced.
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It finds wide applications in the following segments:
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
CAGR 2024-2032 - Market by | Country |
India | 9.1% |
China | 7.6% |
Brazil | 6.7% |
Canada | 5.8% |
Mexico | 5.7% |
UK | XX% |
Germany | XX% |
France | XX% |
Italy | XX% |
Australia | 5.4% |
Saudi Arabia | XX% |
USA | 5.0% |
Japan | 4.7% |
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The global zinc oxide market is majorly driven by the growing electronics industry, which is one of the largest industries in the world. The electronics industry is rapidly growing due to the increased demand for smartphones, artificial intelligence, as well as voice recognition technologies.
The zinc oxide market is majorly supported by the rubber industry, which is rapidly growing due to its extensive use in tyre production. The use of rubber in automotive is thus driving the growth of the market because automotive is one of the largest markets globally. The sales of automobiles is growing at a faster pace and is expected to continue to grow at a fast rate in the coming years. This growth is expected to be even more robust in emerging economies like India and China. The markets for automotive in these regions are further propelling the market growth. The automotive segment, specifically in South Korea as well as India, is driving the demand for a high volume of zinc oxide. South Korea is the powerhouse of passenger cars and is expected to show the highest growth.
Zinc oxide is widely used in the production of cosmetic products, especially sunscreens, baby lotions, makeup, and bath soaps. It helps protect cells from damage, stops the effects of ageing, and reduces skin dryness by blocking out harmful UV rays. The growing personal care industry is thus boosting the demand for the product. Another major driver propelling the market growth is the increasing disposable income of the consumers., which is increasing the purchasing power of people to spend on personal care and automotive products.
September 2017- Zinc Oxide L.L.C. acquired Zochem Inc, a subsidiary of American Zinc Recycling Corp. L.L.C., in a bid become the largest supplier of zinc oxide in North America.
The report gives a detailed analysis of the following key players in the global zinc oxide market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter’s five forces model, along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global zinc oxide market attained a value of nearly USD 4.69 billion.
The market is projected to grow at a CAGR of 6.1% between 2023 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 7.97 billion by 2032.
The major market drivers include the growing demand from the end-use industries, rising urbanisation and globalisation, changing lifestyles, and rising disposable incomes.
The rising demand for smartphones and the growing popularity of voice recognition technology and artificial intelligence are the key trends guiding the market.
The major regions in the market are North America, the Asia Pacific, Latin America, Europe, and the Middle East and Africa.
The significant applications of zinc oxide are rubber, ceramic, chemical, and electronics, among others.
The major players in the 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.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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