Publication Month: May 2022 | Report Code: TIPRE00028976 | No. of Pages: 173 | Category: Chemicals and Materials | Status: Published
Zinc oxide is an inorganic compound with the formula ZnO. It is a white powder that is insoluble in water, and it is widely used as an additive in numerous materials and products. Further, ZnO is used for the vulcanization of rubber to increase its durability. The tire industry further uses this vulcanized rubber for the manufacturing of tires. The rubber industry consumed more than half of the ZnO produced worldwide due to the growing production of tires. Further, increasing the production of smart devices and the utilization of zinc oxide in cosmetic products and personal care products, including makeup, baby lotions, powders, and bath soaps, are the key drivers of the zinc oxide market. It is also used as a bulking agent, a colorant, and a skin protectant in OTC drug products, such as sunscreen.
Further, zinc oxide is widely used as an additive for lubricating oils of automotive engines to reduce oxidation corrosion and wear. Zinc oxides are used to manufacture various types of lubricants, such as extreme-pressure lubricants, seizure-resistant lubricants, and greases. Thus, the above-mentioned products are high in demand, and respective industries are growing positively. For instance, in 2021, the cosmetic industry garnered around US$ 81 billion in revenue worldwide and registered around 8% growth compared to the previous year, as per the study by Statista. Similarly, in 2021, automotive lubricants have recorded 70.2 billion revenues, an increase of around 5% compared to 2020, as per the Statista report. Thus, the wide array of applications of zinc oxide is increasing its consumption rate and subsequently driving market growth.
|Market Size Value in||US$ 4,506.51 Million in 2021|
|Market Size Value by||US$ 6,338.82 Million by 2028|
|Growth rate||CAGR of 5.0% from 2021 to 2028|
|No. of Pages||173|
|No. of Tables||84|
|No. of Charts & Figures||81|
|Historical data available||Yes|
|Segments covered||Process, Grade, and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The COVID-19 pandemic caused considerable disruptions in the growth of various industries globally. Similarly, the COVID-19 pandemic had a major impact on the zinc oxide market in 2020, when the supply chain of the zinc oxide raw material got hampered due to the restriction of goods transport. Eased lockdown norms in several countries and the growing pharmaceutical industry sustained global demand for zinc oxide. In addition to this, the rapid COVID-19 vaccinations program and rise in adoption of zinc oxide for medicinal products globally are flourishing the growth of the zinc oxide market, and manufacturers of zinc oxide are witnessing significant growth in their business.
With the growing demand for chemical-free foods globally, green zinc oxide nanoparticle consumption is increasing since it is a safe alternative to conventional chemical methods without leaving any air pollutants. Zinc oxide nanoparticles are effective for germination and improve the development of plants. It also helps boost the growth rate of stem and roots without extracting soil nutrients. The demand for green zinc oxide nanoparticles gradually increases due to their soil reviving properties and increased crop yield.
Based on process, the global zinc oxide market is segmented into french process, wet process, american process, and others. The french process segment led the global zinc oxide market in 2020. The french process is also known as the indirect process; in this process, zinc is melted in a furnace and vaporized at 910 degrees. The immediate reaction of the zinc vapor with oxygen from the air produces zinc oxide.
Based on grade, the zinc oxide market is segmented into standard grade, food grade, USP grade, and others. The standard grade segment led the global zinc oxide market in 2020. Standard grade zinc oxide is widely used in labs, research, and development sector as a reference standard while experimenting. The standard grade zinc oxide is high-quality and pure zinc oxide.
Based on application, the global zinc oxide market is segmented into rubber, agriculture, chemicals and lubricants, glass and ceramic, paint and pigment, pharmaceutical, and others. The rubber segment led the global zinc oxide market in 2020. Rubber is being widely used in manufacturing various products such as tires and scrap tubes; the increasing use of rubber increases the market demand for zinc oxide. Zinc oxide is used in the rubber industry to prevent discoloration and maintain heat stability and product transparency.
EverZinc; L. Brüggemann GmbH & Co.; U.S. Zinc; Zochem, Inc.; Umicore; Grillo-Werke AG; Rubamin; JG Chemicals Pvt. Ltd.; Pan-Continental Chemical Co., Ltd.; and Akrochem Corporation are some players actively focusing on developing more innovative zinc oxide for various applications.