Zinc Oxide Market is Projected to Reach the Valuation of US$ 7.3 Billion in 2032
The global zinc oxide market is projected to reach US$ 7.3 Bn by 2032, with sales growing at a 6.4% CAGR over the assessment period of 2022 and 2032. Increasing demand for zinc oxide in the rubber industry owing to the growth in the automotive sector is expected to remain a key driving factor.
Zinc oxide is widely used in the rubber industry. It is used as an activator for the vulcanization of the rubber to convert the material into a more durable material by adding strength, improving its resistance against heat, and abrasion, and it also helps in ultraviolet degradation.
Rubber products have a wide range of applications in various industries such as engineering, construction, packaging, and manufacturing.
Increasing demand for rubber in the automotive industry for the production of a wide variety of products such as tires, hoses, gaskets, roll coverings, crap tubes, and adhesives are expected to drive the demand for zinc oxide in the rubber industry.
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According to a study, zinc oxide is also being used in coatings where it helps in protecting the automotive parts from corrosion. Zinc oxide nanoparticles are used in the formulation of vehicle electro coating, they absorb ultraviolet light and prevent an inner layer from corrosion.
“Growing production and consumption of industrial grade zinc oxide across paints & coatings and the chemical sector is expected to augment the growth in the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- The industrial grade segment is estimated to reach about US$ 5.6 Bn by end of the forecast period.
- The indirect process for zinc oxide manufacturing is expected to gain traction at CAGR of 6.6% during the forecast period.
- The rubber segment is anticipated to witness a growth rate at a 8% CAGR over the forecast period.
- Total sales in the U.S. zinc oxide market are expected to reach a valuation of US$ 1.2 Bn by 2032.
- Demand in the China zinc oxide market will reach US$ 1.8 Bn by the end of the forecast period.
- East Asia region is expected to dominate the market owing to the growth of the end use industries and expand at a CAGR of 7.0% during the forecast period.
Competitive Landscape
U.S. Zinc, Rubamin, Zinc Oxide LLC, Grupo Promax, Weifang Longda Zinc Industry Co. Ltd., Yongchang Zinc Industry Co. Ltd., Pan Continental Chemical, J.G. Chemicals, Akrochem, ZM Silesia, and many others are the some of the manufacturers of Zinc Oxide profiled in the full version of the report.
Key players are focusing on expanding their production capacity to increase their market presence. In addition to this, some of the key manufacturers are investing in mergers, acquisitions, and collaboration to improve their product portfolios.
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For instance:
- In June 2022, Aterian Investment Partner combined EverZinc & U.S. Zinc companies to form the pre-eminent global zinc business. The company is anticipated to source the majority of the raw material from a third party. This will help in reducing the need for virgin zinc.
Zinc Oxide Market Segmentation
By Grade:
- Industrial
- Pharma
- Food
By Application:
- Wet Chemical
- Indirect
- Direct
By Application:
- Rubber
- Ceramics
- Chemicals
- Cosmetics and personal care
- Paints & Coatings
- Pharmaceutical
- Agricultural
- Other
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More Insights into the Zinc Oxide Market Report
In its latest report, FMI offers an unbiased analysis of the global zinc oxide market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032.
To understand the global market potential, growth, and scope, the market is segmented based on grade (industrial, pharma & food), process (wet chemical, indirect & direct), application (rubber, ceramics, chemicals, cosmetics & personal care, paints & coatings, pharmaceuticals, agriculture, and others), and region.
