Zinc Oxide Market Size, Share | Revenue Forecast 2028

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Zinc Oxide Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Process (French Process, Wet Process, American Process, and Others), Grade (Standard Grade, Food Grade, USP Grade, and Others), and Application (Rubber, Agriculture, Chemicals and Lubricants, Glass and Ceramic, Paint and Pigment, Pharmaceutical, and Others)

Publication Month: May 2022 | Report Code: TIPRE00028976 | No. of Pages: 173 | Category: Chemicals and Materials | Status: Published

The zinc oxide market size was valued at US$ 4,506.51 million in 2021 and is projected to reach US$ 6,338.82 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.  

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.

Strategic Insights

Report Coverage - Zinc Oxide Market
Report CoverageDetails
Market Size Value inUS$ 4,506.51 Million in 2021
Market Size Value byUS$ 6,338.82 Million by 2028
Growth rateCAGR of 5.0% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
No. of Pages173
No. of Tables84
No. of Charts & Figures81
Historical data availableYes
Segments coveredProcess, Grade, and Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Impact of COVID-19 Pandemic on Zinc Oxide Market

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.

Global Zinc Oxide Market Share Breakdown –By Region

Global Zinc Oxide Market Share Breakdown –By Region

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Market Insights
Growing Demand for Green Zinc Oxide Nanoparticles in Agriculture

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.

Process Insights

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.

Zinc Oxide Market, by Process - 2020 and 2028

Zinc Oxide Market, by Process - 2020 and 2028

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Grade Insights

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.

Application Insights

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.

Report Spotlights

  • Progressive zinc oxide market trends to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the zinc oxide market from 2019 to 2028
  • Estimation of global demand for zinc oxide
  • Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the zinc oxide industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook as well as factors driving and restraining the growth of the zinc oxide market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the zinc oxide market at various nodes
  • Detailed overview and segmentation of the market, as well as the zinc oxide industry dynamics
  • Zinc oxide market size in various regions with promising growth opportunities

Frequently Asked Questions

The major players operating in the global butyric acid market are Eastman Chemical Company; OQ Chemicals GmbH; Tokyo Chemical Industry Co., Ltd.; Perstorp Holding AB; Alfa Aesar; MERCK KGaA; Vigon International, LLC.; Hefei TNJ Chemical Industry Co.,Ltd.; KUNSHAN ODOWELL CO.,LTD; and Yufeng International Co.,Ltd.
During the forecast period, Asia Pacific is anticipated to account for the largest share in the global butyric acid market. The region houses few of the fastest developing economies of the world such as China and India and that are the major consumer of the butyric acid. Moreover, in the Asia Pacific region, there is a growing number of livestock farms which is increasing the consumption of animal feed and subsequently proliferating the butyric acid market.
Based on application, the animal feed segment accounted the largest share of the global butyric acid market. Butyric acid and fatty acids are extensively used in production of poultry and swine feed due to its beneficial properties such as improving digestibility, better colonisation resistance, and improved growth performance among young livestock.
Due to the COVID-19 pandemic, butyric acid manufacturers witnessed a slight disruption in the supply chain of butyric acid during the first two quarters of 2020. However, the supply chain of butyric acid materials has been restored, and production activities have regained normalcy in late 2020. Later, the market was not significantly negatively impacted by the pandemic. Further, with the growing COVID-19 vaccinations and eased in lockdown restrictions, the global economy is resuming, and subsequently, the butyric acid market is regaining its growth.
Asia Pacific (APAC) is anticipated to grow with the fastest CAGR at rate of 15.3% from 2021 to 2028. The growing number of livestock farms in APAC is propelling animal feed consumption levels, subsequently leading to the proliferation of the butyric acid market.
Growing demand for butyric acid from animal feed sector is one of the major driving factors for the market. Butyric acid is known for its beneficial effects on gut health and development. For decades, it has been in use in the animal feed industry for ensuring improved gut health and animal performance. The use of butyric acid in animal nutrition also helps in improving nutrient absorption.

The List of Companies - Zinc Oxide Market

  1. EverZinc
  2. L. Brügge­mann GmbH & Co.
  3. U.S. Zinc.
  4. Zochem, Inc.
  5. Umicore
  6. Grillo-Werke AG
  7.  Rubamin
  8. JG Chemicals Pvt. Ltd.
  9. Pan-Continental Chemical Co., Ltd. 
  10. Akrochem Corporation
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global butyric acid market, thereby allowing players to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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