Zinc Oxide Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Rubber, Ceramics, Chemical, Agriculture, Pharmaceutical, Cosmetics And Personal Care, Others), And By Geography - Forecasts From 2021 To 2026

The global zinc oxide market is expected to grow at a compound annual growth rate of 4.03% over the forecast period to reach a market size of US$6.263 billion in 2026, from US$4.750 billion in 2019. 

The increasing application of Zinc Oxide in rubber, ceramics, chemical, pharmaceutical, and personal care is driving the demand for Zinc Oxide. Rubber is expected to exhibit the highest growth rate owing to the increased sales of tires and other rubber products in the automotive industry across many regions. Increasing investments into research and development to develop new and enhanced products using zinc oxide will continue to drive the demand for zinc oxide, thus contributing significantly to the market growth. However, slow economic growth and new standards for rubber adopted in China and many other regions are hindering the market growth to some extent. Various growth strategies like acquisitions, mergers, and partnerships are being adopted by key players to increase their market share. Currently, Asia Pacific holds the largest market share, with China being one of the biggest markets globally.

Growth in Automotive Industry.

The market is expected to surge in the coming years, due to the growth in the automotive industry, worldwide. According to the data given by the International Organisation of Motor Vehicle Manufacturers, 91.7 million vehicles were sold in the year 2019. The rise in the sales of automotive vehicles is expected to increase the demand for tires, worldwide. The rubber production sector has been one of the major users of zinc oxide, globally. The material is an imperative accelerator in the vulcanization process, and it also contributes to the physical properties of the finished rubber product. Major companies have been significant developments in the market, in the past few years. For instance, EverZinc, one of the key players in the market, provides zinc oxide EPM, with and controlled and low lead, copper or magnesium, and controlled lead with no major metallic parts. The company also provides white seal zinc oxide powder or granules. The major advantage of the company's powder is that it has great flowability, greater ease weighing the product, and has the absence of dust. These trends and developments are expected to play a major role in the market growth, in the coming years.

Increasing usage in personal care products.

The market is expected to surge in the coming years, due to the increasing usage of zinc oxide in the production of personal care products, worldwide. Zinc oxide is widely used in personal care and cosmetics, which includes baby lotions, makeup, foot powders, and bath soaps. It is also being used as a colorant, a bulking agent, and a skin protectant in OTC drugs, and also as a sunscreen. According to the data given by L'OREAL, one of the biggest players in the cosmetics and personal care industry, the global cosmetic market grew by around 5.5% in the year 2019. Moreover, the market has been estimated at over US$200 billion in the year 2019. Asia Pacific region is expected to play a major role in the market growth, in the coming years. L'OREAL has also stated that the region had over 40% market share in the year 2019. Major players have been making significant developments in the market. For instance, in April 2021, Croda, a global specialty chemical company, announced that it had launched a novel solution for sustainable and safe solar protection products, known as Solavein MicNo, which combines all the major benefits of micron-sized Zinc Oxide with transparency on skin.

Latest Developments.

Major companies have been making significant developments in the market, in the past few years.

In June 2021, Walez Sustainable Products announced that it had received a permit from the Indiana Department of Environmental Management to start the operations of its zinc oxide production plant in Cass County, Missouri.

In July 2019, Vizor LLC announced the launch of two novel next-generation inorganic sunscreen ingredients that had been based on surface modification technology that could offer substantially bigger SPH values with minimum material and wider performance. This had been the next generation zinc oxide technology. The company had also stated that these super zinc ingredients had been ecologically safe and would not harm aquatic life.

Increasing Government Regulations.

Rising government regulations, worldwide, are expected to hinder the market growth, in the coming years. For instance, The European Union had stated that the use of zinc oxide as a veterinary medicinal product, which had been defined as levels over 150 ppm, would be banned in the EU, starting from June 2022. Canada had also stated that it would only allow zinc oxide to be put to weaned piglet diets at a certain nutritional level of around 350ppm. These developments are expected to hinder market growth in the coming years.

Global Zinc Oxide Market Scope:

Segmentation:

• By Application
  • Rubber
  • Ceramics
  • Chemical
  • Agriculture
  • Pharmaceutical
  • Cosmetics & Personal Care
  • Others
• By Geography
  • North America
    • USA
    • Canadá
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Thailand
    • Taiwan
    • Indonesia
    • Australia
    • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the zinc oxide market?
A1. The zinc oxide market is expected to grow at a CAGR of 4.03% over the forecast period.

Q2. What will be the zinc oxide market size by 2026?
A2. The global zinc oxide market is expected to reach a total market size of US$6.263 billion in 2026.

Q3. What is the size of the global zinc oxide market?
A3. Zinc Oxide Market was valued at US$4.750 billion in 2019.

Q4. Which region holds the maximum market share of the zinc oxide market?
A4. The Asia Pacific holds the largest share of the zinc oxide market, with China being one of the biggest markets globally.

Q5. What factors are anticipated to drive the zinc oxide market growth?
A5. The increasing application of Zinc Oxide in rubber, ceramics, chemical, pharmaceutical, and personal care is driving the demand for Zinc Oxide.