Global Zinc Oxide Market Set to Reach USD 7.41 Billion by 2031, With a Sustainable CAGR Of 5.9% | Growth Market Reports

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Mar 23, 2023, 11:30 ET

PUNE, India, March 23, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, " Zinc Oxide Market by Process (Direct, Indirect, and Wet Chemical Process), Grade (Standard, Treated, United States Pharmacopeia, and Food and Chemical Codex), Application (Rubber, Ceramics, Chemicals, Agriculture, Cosmetics & Personal Care, Pharmaceuticals, Foods, Paints & Coatings, Electronics & Semiconductors, and Others), and Region: Size, Share, Trends, and Opportunity Analysis, 2023-2031", the market was valued at USD 3.7 billion in 2022 and is expected to reach USD 7.41 billion, expanding at a CAGR of 5.9% by the end of 2031. The growth of the market is attributed to the rising demand from rubber, ceramics, cosmetics & personal care industry.

Key Market Players Profiled in the Report

Continental Chemicals Limited
Zochem, Inc.
EverZinc.
ZM SILESIA SA
Akrochem Corporation.
RUBAMIN
Pan-Continental Chemical Co., Ltd.
JG Chemicals Limited
Upper India
Nokian Tyres plc.

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include process, grade, application, region, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

Highlights on the Segments of the Cryogenic System Market

Based on process, the zinc oxide market is segmented into the direct, indirect, and wet chemical process. The wet chemical process segment is expected to expand at a sustainable CAGR in the coming years attributed to its fine size, good dispersion properties, and slow settling properties.

In terms of grade, the market is divided into standard grade, treated grade, United States Pharmacopeia (USP) grade, and Food and Chemical Codex (FCC) grade. These grades are different from each other in terms of composition, surface area, particle size, and heavy metal content. The FCC grade segment is expected to grow at a significant growth rate during the projection period, owing to the increasing adoption and applications in the food industry.

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On the basis of application, the market is segmented into rubber, ceramics, chemicals, agriculture, cosmetics & personal care, pharmaceuticals, and others. The rubber segment is projected to register a considerable CAGR during the assessment period, due to the rising demand from the automotive and footwear industries.

Based on region, the global zinc oxide market is classified as Europe, North America, Asia Pacific, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. Developing countries in the Asia Pacific are emerging as manufacturers, consumers, and exporters of zinc oxide, which consequently increases the demand for zinc oxide in the Asia Pacific region.

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Key Takeaways from the Study:

Zinc oxide is an insoluble inorganic compound mainly available in a white powder form, with the molecular formula ZnO. It occurs as zincite minerals and is obtained by oxidizing zinc ores.
Rubber, ceramics, and cosmetics & personal care industries are estimated to have a high demand rate for zinc oxide. The antifungal and anti-bacterial nature of zinc oxide holds a key role in the formulation of cosmetics & personal care products.
Zinc oxide acts as an activator in the automotive rubber vulcanization process. This process increases the durability of the rubber used in the manufacturing of tires, which increases the demand for tough tires.
Zinc oxide sustains high power operation and high temperature which increases its demand significantly in the electronics and semiconductors sector.
Zinc oxide nanoparticles are easy to fabricate. Additionally, they are considered harmless to the environment as they do not release any toxic elements into the atmosphere. This aspect is projected to raise its demand for biological applications such as beneficent fertilizers.
The wet chemical process of obtaining zinc oxide is expected to have a high acceptance rate as it processes zinc oxide with fine size and good dispersion properties.
The Food and Chemical Codex (FCC) grade zinc oxide is widely accepted in the food industry as it is estimated to serve necessary nutrients.

Read 142 Pages Research Report with Detailed ToC on "Cryogenic System Market by System Types (Supply, Handling, and Storage), Cryogens (Argon, Nitrogen, Oxygen, LNG, and Hydrogen), Equipment (Valves, Tanks, Pumps, and Vaporizers), End-users (Metallurgy, Chemicals, Energy, and Transportation), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Process

Direct
Indirect
Wet Chemical Process

Grade

Standard
Treated
United States Pharmacopeia
Food and Chemical Codex (FCC)

Application

Rubber
Ceramics
Chemicals
Agriculture
Cosmetics & Personal Care
Pharmaceuticals
Foods
Paints & Coatings
Electronics & Semiconductors
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

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Global Wurtzite Zinc Oxide Market by Type (Pharmaceutical Grade, Industrial Grade), By Application (Rubber, Batteries, Cosmetics, Foods, Others), And by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa), Forecast From 2022 To 2030
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