Market Analysis
The worldwide zinc oxide market is predicted to touch USD 4,946.26 million at a 5.85% CAGR over the forecast period (2020-2027), as per the latest Market Research Future (MRFR) report. Zinc oxide is a white, powdery inorganic chemical compound that is composed of zinc and oxygen. Also known as zinc white or calamine, it is obtained through three processes- wet process, direct, and indirect process. Some of its common examples include makeup and foot powders. In the form of an ointment, it is used in sun protection products and diaper rash products.
Zinc oxide has deodorant-like and antibacterial properties that make it ideal for toiletries and medical products. Moreover, it is widely used in vitamin supplements, fertilizers, and animal feed. Its use does not end here. Zinc oxide serves as a catalyst in the chemical industry as well as used as a corrosion inhibitor and in paints for mildew control. In recent times, zinc oxide has transcended to use in glass and ceramic compositions, concrete use, and also cigarette filters.
Various factors are propelling the zinc oxide market size. These factors, in accordance with the MRFR report, include the growing use in electronic items, semiconductors, and the rubber industry, burgeoning demand in personal care, pharmaceuticals, and cosmetics industry, and government approval to use zinc oxide in beauty products.
Market Segmentation
The MRFR report provides a complete segmental analysis of the zinc oxide market report on the basis of process, application, and end user.
Based on end user, the zinc oxide market is segmented into healthcare, food and beverages, metallurgy, automotive, building and construction, personal care, and others. Of these, the automotive segment will have the largest share in the market over the forecast period. This will be followed by the personal care segment.
Based on application, the zinc oxide market is segmented into rubber, ceramics, fertilizers, pharmaceutical products, cosmetic ingredients, light-emitting diodes, paints and coatings, food additives, metal processing, animal feed and nutrition, lubricants, and others.
Based on process, the zinc oxide market is segmented into ZnO nanostructures, wet, laboratory, waelz, direct, and indirect. Of these, the indirect segment will dominate the market over the forecast period. This will be followed by waelz.
Regional Analysis
By region, the zinc oxide market report covers the latest trends and growth opportunities across Europe, North America, Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. It is predicted to grow at a 5.40% CAGR. Canada, as well as the USA, are the key contributors in this region.
The zinc oxide market in Europe will have the second-largest share in the market over the forecast period. This is owing to the presence of a strong economy and constant technological advancements. It is predicted to grow at a 5.01% CAGR.
The zinc oxide market in the APAC region will grow at the fastest pace over the forecast period. It is predicted to grow at a 6.73% CAGR.
The zinc oxide market in Latin America is predicted to grow at a 7.81% CAGR over the forecast period.
The zinc oxide market in the Middle East and Africa is predicted to have a small growth over the forecast period at a 5.61% CAGR.
Key Players
Leading players profiled in the zinc oxide market revenue report include Nyrstar, GHC Ltd., Zochem LLC., Marzinc, Miike Smelting Co. Ltd., Recylex, PontenossaSPA, Symrise, US Zinc, Advanced Nano Products Co. Ltd., Befesa, EverZinc, Weifang Longda Zinc Industry Co. Ltd., Grillo-Werke AG, and American Zinc Recycling LLC. Key players have adopted numerous strategies such as collaborations, partnerships, product innovations, research and development, acquisitions, and mergers to create a niche in the market.
September 2019: Researchers at the IIT Hyderabad and IIT Jodhpur have come up with a semiconductor material which can help in detecting gas leaks with extreme sensitivity. This research is chiefly on metal semiconductors, especially zinc oxide as it undergoes changes in the electrical resistance during the presence of hydrogen gas.
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