Zinc Oxide Market Growth (USD 9 Bn by 2033 at 5.8% CAGR) Global Analysis by Market.us

Introduction

The Zinc Oxide Market is experiencing notable growth, driven by its widespread applications in industries such as automotive, electronics, and healthcare. As of 2023, the market size is valued at approximately USD 5.4 billion, and it is projected to reach around USD 9 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period. This expansion is largely fueled by increasing demand for zinc oxide in sunscreens, pigments, and as a semiconductor material.

Recent developments in production technology and a rising focus on sustainable and eco-friendly manufacturing processes are contributing to this growth. However, the market faces challenges, including fluctuations in raw material prices and regulatory constraints related to environmental impact. Efforts to innovate and improve efficiency in production, alongside a growing emphasis on applications in the healthcare and electronics sectors, are pivotal in driving market advancements.

Ace Chemie Zynk Energy Limited specializes in the production of high-quality zinc oxide, serving diverse industries including rubber and ceramics. The company employs advanced technology to ensure the purity and effectiveness of its products, meeting stringent industry standards. Their focus on innovation and efficiency helps them cater to growing market demands and maintain a competitive edge.

AG CHEMI GROUP s.r.o. is a significant player in the zinc oxide market, known for its comprehensive range of zinc oxide products used in sectors like cosmetics, pharmaceuticals, and agriculture. The company emphasizes sustainable production practices and high-quality standards to meet varied customer needs. Their commitment to research and development supports their position in the market.

Key Takeaways

• Market Growth Projection: The Zinc Oxide Market is poised to reach a significant worth of around USD 9 billion by 2033 from USD 5.4 billion in 2023, experiencing a compound annual growth rate (CAGR) of 5.8%.
• Production Methods: Various production processes for Zinc Oxide include wet chemical, direct, indirect, and other less common methods, each offering distinct advantages based on factors like efficiency, cost-effectiveness, and purity requirements.
• Forms and Grades: Powder form dominates the market (over 76.5%), followed by pellets and liquid forms. Different grades like standard, treated, USP, FCC, and specialized grades cater to specific industrial standards and application requirements.
• Industry Dominance: Automotive and chemicals emerge as major players, with automotive securing over 40.5% of the market share due to Zinc Oxide’s use in rubber formulations for tires and various components.
• Regional Influence: The Asia Pacific (APAC) leads with over 52.2% revenue share in 2023 due to its substantial manufacturing base, while North America holds a 17.1% revenue share, boosted by the cosmetics and pharmaceutical industries.

Statistics

• zinc oxide is an n-type semiconductor like titanium oxide, it not only absorbs UV rays with wave lengths shorter than 380 nm effectively but also has high transparency and does not easily show white powder residue, so it is believed to be an effective anti-UV agent for blocking UV-A rays with wave lengths 320–400 nm, which are believed to cause wrinkles.
• Medicinal-grade zinc oxide is a concentration of no less than 99.5% and calamine is no less than 98%.
• The ZnO market supposes 100,000 tonnes per year, and it is fabricated through three different technologies: French process, American process and Hydrometallurgical process.
• A popular ointment known as calamine contains both ZnO and Fe2O3, the latter to the extent of approximately 0.5%.
• Each organism and community was exposed to Zn sources at 0.08, 0.8, and 8 mg Zn/L.
• Zinc oxide nanoparticles (ZnO NPs) have the third highest production rates of NPs worldwide (estimates range from 550 to 10 000 tons/yr) because of their extensive use in cosmetics, solar cells, pigments, electronics, and textiles.
• Modeled estimates of ZnO NP environmental concentrations range from 0.001 to 0.058 μg/L in surface waters, from 0.24 to 0.661 μg/kg in soil, and from 0.22 to 1.42 μg/L in sewage treatment plant effluent, where the concentrations are expected to continuously increase.
• Zinc oxide NPs have been classified as “extremely toxic” (50% lethal effect concentration [LC50] <0.1 mg/L) to aquatic organisms.
• Multiple endpoints were used to evaluate the impacts of ZnO particle uptake and toxicity at concentrations representing the highest environmentally relevant concentration (0.08 mg Zn/L), an extreme accidental spill scenario (0.8 mg Zn/L), and a much higher concentration (8 mg Zn/L) where adverse impacts could be expected.
• Zinc oxide NPs (average primary particle size <50 nm, BET >10.8 m2/g), ZnO MPs (<5 μm particle size), and ZnCl2 were all purchased in powder form from Sigma‐Aldrich.
• The abiotic rate of dissolution for both sizes of ZnO particles at 8 mg Zn/L was measured in NCM initially and after 1 and 5 d in triplicate.
• The germination rate of H. sativum seeds treated with ZnO NPs decreased by 17% compared to the control.
• A high dose of ZnO NPs (2000 mg/L) increases Zn content two-fold in plant shoots and affects biochemical indicators.
• In the present study, root and shoot protein contents were reduced depending on the amount of NPs applied. In another experiment, ZnO NPs (8 mg/L) increased the protein content by 45% in tomato shoots compared with their control.
• The ZnO thin films (buffer layers) were deposited in an electrolyte containing 5 mM ZnCl2 and 0.1 M KCl at a potential of −1 V at room temperature.
• As found with most group II-VI elements, the bonding in ZnO is largely ionic with 0.074 nm for zinc ions (Zn2+) and 0.140 nm for the oxygen ion (O2−) as corresponding radii
• The crystalline nature and the crystal size (48 nm) of the prepared ZnO NPs were confirmed by XRD.
• The ZnO NPs demonstrated moderate enzyme inhibition (30.8%) at a concentration of 200 mg ml−1.

Emerging Trends

• Sustainable Production: There’s a growing focus on eco-friendly and sustainable production methods, including recycling zinc waste and reducing environmental impact.
• Enhanced Applications: Zinc oxide is increasingly used in advanced applications like electronics, where it’s utilized in flexible displays and solar cells.
• Health and Wellness: The demand for zinc oxide in sunscreens and personal care products is rising due to its beneficial properties for skin protection and health.
• Nanotechnology: The development and use of nano-sized zinc oxide particles are expanding, offering improved performance in various applications, such as in paints and coatings.
• Regulatory Changes: Stricter environmental regulations are influencing production practices and encouraging the adoption of greener technologies in the zinc oxide industry.
• Growth in End-User Industries: Sectors like automotive and construction are driving increased demand for zinc oxide due to its use in tires, coatings, and other materials.

Use Cases

• Cosmetics and Personal Care: Zinc oxide is widely used in sunscreens and skincare products due to its ability to provide broad-spectrum UV protection. The global market for zinc oxide in personal care was valued at around USD 1.2 billion in 2023 and is projected to grow at a CAGR of 6% through 2030.
• Rubber Industry: In the rubber industry, zinc oxide acts as a vulcanization agent, improving the durability and strength of rubber products such as tires. The demand in this sector is significant, with the global rubber market using approximately 1.5 million tons of zinc oxide annually.
• Electronics: Zinc oxide is used in electronic devices as a semiconductor material and in varistors to protect circuits from voltage spikes. The electronics sector is a growing application area, with a market size projected to reach USD 400 million by 2025.
• Pharmaceuticals: It is utilized in topical ointments and creams for its antiseptic and astringent properties, aiding in wound healing and skin treatments. The pharmaceutical segment accounted for about USD 0.5 billion in 2023, with a steady growth forecast.
• Paints and Coatings: Zinc oxide serves as a pigment and anti-corrosive agent in paints and coatings, enhancing durability and longevity. This application is expanding, with the global market for zinc oxide in coatings expected to reach USD 1 billion by 2026.
• Agriculture: In agriculture, zinc oxide is used as a micronutrient in fertilizers to promote plant growth and crop yield. The agricultural use of zinc oxide is growing, with demand projected to increase by approximately 4% annually.

Key Players

Ace Chemie Zynk Energy Limited specializes in the production of high-quality zinc oxide, serving diverse industries including rubber and ceramics. The company employs advanced technology to ensure the purity and effectiveness of its products, meeting stringent industry standards. Their focus on innovation and efficiency helps them cater to growing market demands and maintain a competitive edge.

AG CHEMI GROUP s.r.o. is a significant player in the zinc oxide market, known for its comprehensive range of zinc oxide products used in sectors like cosmetics, pharmaceuticals, and agriculture. The company emphasizes sustainable production practices and high-quality standards to meet varied customer needs. Their commitment to research and development supports their position in the market.

CCL Industries, through its CCL Label division, is active in the zinc oxide sector primarily by providing specialized packaging solutions for the industry. Their expertise in advanced labeling and packaging helps companies in the zinc oxide sector improve product presentation and compliance with regulatory standards. By offering high-quality, durable, and customizable labels, CCL supports the efficient marketing and distribution of zinc oxide products.

EverZinc is a prominent player in the zinc oxide sector, known for its wide range of high-purity zinc oxide products used in industries such as rubber, ceramics, and pharmaceuticals. Their focus on advanced manufacturing techniques and sustainable practices positions them as a key supplier in the global market. EverZinc’s innovation and commitment to quality enhance their competitive advantage in the zinc oxide industry.

Zinc Nacional is a prominent player in the zinc oxide sector, with a significant focus on producing zinc oxide through both the “French” process, which uses refined zinc ingots, and the “American” process, which utilizes zinc concentrates and industrial by-products. This dual approach allows Zinc Nacional to offer a wide range of zinc oxide products, tailored to meet specific needs across various industries such as ceramics, rubber, and chemicals.

HAKUSUI TECH is a well-established Japanese company specializing in the production of functional zinc oxide. With over 70 years of industry experience, the company focuses on delivering high-quality zinc oxide products that cater to various sectors including electronics, automotive, and pharmaceuticals. HAKUSUI TECH prides itself on its stringent quality control processes and its ability to maintain a stable supply chain, making it a trusted name in the zinc oxide market​.

Neo Zinc Oxide is recognized for its specialization in manufacturing high-quality zinc oxide, particularly for industries like rubber, ceramics, and glass. The company emphasizes sustainability in its production processes, ensuring its products meet the stringent environmental standards required by modern industries. Neo Zinc Oxide’s products are integral in providing the necessary properties in end-user applications, such as improving durability in rubber and enhancing clarity in glass products. Their commitment to quality and innovation positions them as a significant player in the global zinc oxide market.

Pan-Continental Chemical Co., Ltd. is a prominent manufacturer of zinc oxide and related compounds, serving industries ranging from rubber to cosmetics. Established in 1979, the company offers products like active zinc oxide, which is essential for high-performance rubber applications. Their zinc oxide products are known for their eco-friendly attributes, aligning with global sustainability trends. Pan-Continental Chemical’s focus on innovation and quality control has solidified its reputation as a reliable supplier in the zinc oxide market, catering to diverse industrial needs​.

Rubamin, a key player in the zinc sector, specializes in the production of high-quality zinc oxide, serving industries such as rubber, ceramics, and chemicals. Their operations focus on sustainability and technological advancements, ensuring consistent supply and innovation in zinc oxide production. Rubamin’s commitment to quality and environmental responsibility has positioned them as a reliable supplier in the global market. By leveraging efficient production processes, Rubamin aims to meet the growing demand for zinc oxide, particularly in the Asia-Pacific region.

Tata Chemicals Ltd. has made significant strides in the zinc oxide sector by developing nano zinc oxide (nZnO) with enhanced anti-fungal, anti-microbial, and UV blocking properties. Their innovative approach includes a patented process that ensures the product is free from harmful heavy metals, making it ideal for use in cosmetics, paints, adhesives, and plastics. Tata Chemicals’ focus on nanotechnology highlights their commitment to providing advanced material solutions that meet diverse industrial needs, especially in high-performance and safety-critical applications.

Conclusion

The zinc oxide market is experiencing steady growth driven by its extensive use in various industries, particularly in rubber manufacturing and pharmaceuticals. The compound is critical in rubber vulcanization, which is vital for tire production, making it a key component in the automotive industry. Additionally, the growing demand for zinc oxide in the pharmaceutical sector, especially in the Asia-Pacific region, underscores its importance in healthcare applications such as sunscreens and over-the-counter drugs. This demand is expected to keep rising, particularly in emerging markets like India and China, where industrial and healthcare needs are expanding rapidly​.

Sources:

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