H1 2023: In H1 2023, the Asia Pacific region was found as the largest consumer of Zinc Oxide. Itsprices witnessed a decline in February 2023 in India due to subdued demand, despite India outperforming many major economies. Supply stability persisted, with expensive imports playing a pivotal role in shaping the price trajectory. In March 2023, the product experienced a price surge in the Indian market driven by a seasonal demand upswing, especially in downstream industries, resulting in a bullish market. The product's supply remained consistent, and the influence of costly imports further contributed to the upward price trend. The seasonal period saw a favourable uptick in demand from downstream industries. However. in the second quarter of 2023, Zinc Oxide prices in the Asian market underwent a bearish trend, mainly driven by subdued demand from the downstream rubber industry. During May and June, the price of Zinc Oxide consistently declined in the Indian market. The diminished demand was primarily ascribed to inflationary pressures and hazy demand outlook. However, North America experienced subdued to moderate demand for Zinc Oxide in H1 2023. The challenges associated with sluggish economic activity, despite uninterrupted production. There was a slight improvement in the rubber and ceramics sector in March, although it grappled with inflationary pressures. In the period of April-June, Zinc oxide prices declined in North America owing to diminished demand from downstream sectors.
The global Zinc Oxide market stood at approximately 1820 thousand tonnes in 2022 and is anticipated to grow at a CAGR of 4.2% during the forecast period until 2032.
Zinc oxide is an inorganic compound that manifests as a white powder and exhibits insolubility in water. It is naturally present in the form of the mineral zincite. Industrial production of zinc oxide involves three main processes: the French process, the wet process, and the American process. Among these, the wet process stands out as the most widely employed method, primarily because the resulting zinc oxide grade boasts finer particles, excellent dispersion, and superior properties compared to the other two processes. Zinc oxide, a versatile compound, finds a multitude of applications owing to its unique properties. In the realm of skincare, it is a cornerstone ingredient in sunscreens, where it acts as a highly effective ultraviolet (UV) filter, providing broad-spectrum protection against both UVA and UVB rays. Its ability to form a physical barrier on the skin makes it particularly valuable for preventing sunburn and reducing the risk of skin cancer. In the cosmetic industry, zinc oxide serves as a key component in various products like foundations, powders, and lotions due to its non-irritating nature and sebum-absorbing qualities, contributing to a matte finish. Beyond skincare, this compound is widely used in the manufacturing of rubber and plastics, enhancing their resistance to heat and UV radiation. In the textile industry, zinc oxide-coated fabrics exhibit antibacterial properties, leading to applications in medical textiles and sportswear. Furthermore, its role as a catalyst in chemical processes, such as the production of synthetic rubber, showcases its significance in industrial settings. In the realm of electronics, zinc oxide is employed in the fabrication of transparent conductive films, vital for the production of electronic devices like solar cells, sensors, and light-emitting diodes.
The primary driver of the market's expansion is the surging requirement for Zinc Oxide within the rubber sector. Zinc oxide serves as a vulcanizing agent in the rubber vulcanization process, enhancing the durability of rubber products. Given the extensive use of rubber in tire manufacturing, particularly in the booming transportation sector, the demand for zinc oxide is anticipated to rise in the foreseeable future. Increased concentrations of zinc oxide contribute to improved resistance to hot air and heat aging, while insufficient levels may result in scorching issues. Additionally, it plays a crucial role in minimizing heat build-up and wear in tires. As the tire and rubber industry experiences growth, the concurrent increase in zinc oxide consumption is evident. This underscores the compound's integral role in enhancing the performance and longevity of rubber-based products, particularly in sectors like transportation where tire quality is paramount. The increasing demand for zinc oxide in the ceramics sector, particularly within the tile industry, emerges as a significant market driver. Both the French (indirect) and American (direct) processes contribute to the suitability of zinc oxide in these applications. Zinc oxide plays a crucial role in ceramics by effectively reducing melting temperatures, thereby lowering energy and equipment requirements. As ceramics, including porcelain, brick, and cement, continue to be fundamental in constructing buildings, the rising trend in utilizing nanomaterials in modern construction further propels the market, enhancing the overall performance of construction materials and driving growth in the zinc oxide market. The global Zinc Oxide market is anticipated to reach nearly 2750 thousand tonnes by 2032.
Based on region, Asia Pacific region is the biggest consumer of Zinc Oxide. The Asia-Pacific region is strategically positioned to dominate the zinc oxide market due to its dynamic industrial landscape. Rapid industrialization, particularly in key economies such as China and India, fuels substantial demand across diverse sectors, including rubber, ceramics, and chemicals. The flourishing construction industry, driven by urbanization and infrastructure projects, intensifies the need for zinc oxide in applications like paints and coatings. Additionally, the thriving automotive sector in the region boosts demand for zinc oxide in tire manufacturing. The expanding cosmetics and personal care industry, coupled with the increasing agriculture and electronics sectors, further contribute to the region's dominance. As Asia-Pacific continues to be a hub for manufacturing and innovation, the zinc oxide market is well-positioned to witness sustained growth, driven by multifaceted industrial requirements across various key sectors.
Based on the end-user industry, the global Zinc Oxide market is divided into Rubber, Ceramics, Chemicals, Agriculture, and Others. However, Rubber industry is the major segment and held approximately 35% of the global Zinc Oxide market in 2022.
Major players in the Global Zinc Oxide market are Akrochem Corporation, EverZinc, HAKUSUI TECH, Hanil, Hindustan Zinc Limited, Pan-Continental Chemical, Rubamin, Silox SA, Suraj Udyog, Weifang Longda Zinc Industry Co. Ltd, Zinc Nacional SA, Zinc-Co-India, ZM SILESIA SA, Zochem Inc., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Zinc Oxide which covers production, demand and supply of Zinc Oxide market in the globe.
• To analyse and forecast the market size of Zinc Oxide
• To classify and forecast Global Zinc Oxide market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Zinc Oxide market in the globe.
To extract data for Global Zinc Oxide market, primary research surveys were conducted with Zinc Oxide manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Zinc Oxide market over the coming years.
ChemAnalyst calculated Zinc Oxide demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Zinc Oxide. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Zinc Oxide manufacturers and other stakeholders
• Organizations, forums and alliances related to Zinc Oxide distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Zinc Oxide manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Zinc Oxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1820 thousand tonnes
Market size Volume in 2032
2750 thousand tonnes
Growth Rate
CAGR of 4.2% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Rubber, Ceramics, Chemicals, Agriculture, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Zinc Oxide in terms of volume in 2022?
Ans:
The global market size of Zinc Oxide had reached approximately 1820 thousand tonnes in 2022.
Q2.
Which region is the major consumer of Zinc Oxide?
Ans:
Asia Pacific region is the leading consumer of Zinc Oxide globally.
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