Austin, Oct. 07, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider Research, The Zinc Oxide Market is poised to witness substantial growth, projected to reach USD 9.03 Billion by 2032, growing at a compound annual growth rate of 5.7% from 2024 to 2032.
This growth is largely attributed to the rising demand for zinc oxide in key sectors such as cosmetics, rubber, and electronics The compound is widely used in basic sectors with diverse purposes: for example, its UV radiation-blocking abilities make it a common ingredient of sunscreens, while Zinc oxide’s anti-inflammatory and antimicrobial effects make it invaluable for the pharmaceutical industry. The rubber industry considers this compound a in disposable additive for the production of tires, where it is used for increased resistance and elasticity.
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Key Players :
- LANXESS (Zinc Oxide Activator ZOA)
- Zochem (ZnO HP Zinc Oxide)
- EverZinc (Zano Zinc Oxide)
- U.S. Zinc (USP Zinc Oxide)
- Neo Zinc Oxide (Nano Zinc Oxide Powder)
- Tata Chemicals Ltd. (ZincOx Zinc Oxide)
- Upper India (Zinc Oxide – Active Grade)
- Pan-Continental Chemical Co. Ltd. (Zinc Oxide Powder)
- Zinc Oxide Australia (Ultra-Fine Zinc Oxide)
- Rubamin (Zinc Oxide - White Seal)
- Ace Chemie Zynk Energy Limited (High Purity Zinc Oxide)
- Akrochem Corporation (Zinc Oxide - Feed Grade)
- Weifang Longda Zinc Industry Co. Ltd. (Rubber Grade Zinc Oxide)
- AG CHEMI GROUP (Zinc Oxide 99.7%)
- Yongchang Zinc Industry Co., Ltd. (Pharmaceutical Grade Zinc Oxide)
- Zinc Nacional (Zinc Oxide Premium)
- Global Chemical Co., Ltd. (Zinc Oxide 99% Industrial Grade)
- Industrias Peñoles (Zinc Oxide Feed Grade)
- Grillo-Werke AG (Zinc Oxide Battery Grade)
- J.G. Chemicals Pvt Ltd. (Zinc Oxide – White Seal)
Furthermore, Zinc oxide’s multifunctional properties, as a preservative, skin protectant, and antimicrobial ingredient, to name a few, have made it indispensable in countless customer and industrial products. Not surprisingly, it makes an invaluable contribution to the development of eco-friendly solutions, such as bio-based cosmetics or more sustainable paints.
Key Trends Impacting the Market
The factor that stimulates the growth of the zinc oxide market is the increasing consumer interest in the improvement of skin health and UV protection. On a global scale, people began paying more attention to sun care products. The dread of skin cancer promotes demand for zinc oxide-based sunscreens. Unlike certain chemical alternatives, this component is safe and effective in blocking both UVA and UVB rays.
According to the U.S. Geological Survey (USGS), the production of zinc oxide in the United States was estimated to be around 61,000 metric tons in 2021
At the same time, the area of application of zinc oxide is not limited to the cosmetic industry. In rubber and tires, the use of the compound is vital for creating more durable materials, resistant to heat. In electronics, zinc oxide is considered an ideal material with semiconductor properties used for generating solar cells and varistors.
In 2023, Kraton Corporation announced the launch of a new line of zinc oxide products designed specifically for the personal care industry. These products are formulated to enhance the regenerative properties of organic lotions and creams, focusing on safety and sustainability. This development aims to cater to the rising consumer demand for clean-label, natural ingredients in skincare products.
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Opportunities in the Zinc Oxide Market
- Expansion in Emerging Markets: Rising urbanization and disposable incomes in the emerging economies are resulting in the escalating demand for personal care products and industrial applications. Companies can exploit this opportunity by entering the emerging markets and remain focused on the local consumer demands.
- Innovation in Formulations: The potential for product innovation, in particular, remains high. Among the possible new formulations of zinc oxide, the options that can be viewed as the most promising one include hypoallergenic alternatives, as well as the increased number of skin benefits. The approach is likely to attract a larger number of consumers.
- Applications in Electronics: The globally rising role of renewable energy technologies creates numerous opportunities for the use of zinc oxide. Along with its incorporation into advanced solar cells, it can be used in cutting-edge electronic appliances that will be categorized as highly efficient, therefore, boosting the market growth.
- Emerging Regulatory Support for Zinc-Based Products: The growth of the market is also expected to be spurred by the increase in the regulatory support for zinc oxide products within the spheres of cosmetology and pharmacology. Companies will be able to capitalize on this opportunity by ensuring 100% safety and meeting the corresponding standards to prove the efficacy of their product.
Which Form Segment of the Zinc Oxide Market Dominated the Market in 2023?
The Powder segment dominated the Zinc Oxide Market in 2023 and held the largest market share of around 75%. Powdered zinc oxide is widely used in cosmetic and pharmaceutical applications. The fine particle size of the form helps it blend well with other powders and liquids in sunscreens, creams, and ointments. This means that the form is easily applied in both personal care and industrial processes, where it is valued for its high purity and reactivity.
Key Segments:
By Grade
- Standard
- United States Pharmacopeia (USP)
- Treated
- Food and Chemical Codex (FCC)
- Others
By Process
- Direct (American) Process
- Indirect (French) Process
- Wet Chemical Process
- Others
By Form
- Powder
- Liquid
- Pellets
By Application
- Rubber
- Chemical
- Paints & Coatings
- Ceramics
- Cosmetics and Personal Care
- Automotive
- Construction
- Agriculture
- Pharmaceuticals
- Electronics & Semiconductors
- Others
Which Application Segment Fastest Growing in Zinc Oxide Market in 2023?
The Cosmetics and Personal Care segment accounted for the fastest-growing share and held approximately 18% market share in 2023. Zinc oxide is a key ingredient in sunscreen, anti-inflammatory ointments, and skin care products, driving its adoption in the cosmetics industry. The growing awareness of the harmful effects of prolonged sun exposure has significantly increased the demand for sun care products, propelling the use of zinc oxide in formulations for safe and effective UV protection.
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Which Region is Estimated to Dominate the Zinc Oxide Market?
Asia-Pacific held the largest market share at around 51.2% in 2023. The region's dominance is attributed to the rapidly expanding cosmetics and skincare industries in countries such as China, Japan, and South Korea. These markets have experienced a surge in demand for zinc oxide due to its widespread use in sunscreens and skin care products that cater to the region’s consumer preference for sun protection and skin-whitening products.
In addition, Asia-Pacific is home to a burgeoning rubber and tire manufacturing industry, where zinc oxide is a crucial additive for enhancing product performance. China, as the world's largest tire producer, continues to drive demand for zinc oxide, further strengthening the region’s position in the global market.
Recent Developments
- In 2023, BASF introduced a new range of zinc oxide nanoparticles specifically formulated for use in high-SPF sunscreens. The new products are designed to provide broad-spectrum sun protection while being transparent on the skin, addressing consumer concerns about the white cast traditionally associated with zinc oxide products.
- In 2023, Zochem expanded its production capacity for pharmaceutical-grade zinc oxide to meet the growing demand for premium-quality products used in sunscreens, ointments, and medical applications.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Zinc Oxide Market Segmentation, by Grade
8. Zinc Oxide Market Segmentation, by Process
9. Zinc Oxide Market Segmentation, by Form
10. Zinc Oxide Market Segmentation, By Application
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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