Zinc Oxide Market Size Worth $8.1 Billion by 2030: Grand View Research, Inc.

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Apr 06, 2022, 08:00 ET

SAN FRANCISCO , April 6, 2022 /PRNewswire/ -- The global zinc oxide market size is estimated to reach USD 8.1 billion by 2030, registering a CAGR of 6.9% during the forecast period, according to a new report by Grand View Research, Inc. Growth can be attributed to the rising product demand for vulcanization of rubber in the tire industry. In addition, the growing consumption of premium skincare products in emerging economies due to the increasing disposable income is expected to drive market growth. The raw materials used to manufacture the product using direct processes include sulfuric acid and zinc chloride. The availability of raw material impacts zinc oxide (ZnO) prices and production.

Key Insights & Findings from the report:

In 2021, indirect process emerged as the dominant process segment owing to the high productivity of the method.
Wet chemical is projected to grow at the fastest CAGR, in terms of revenue, from 2022 to 2030 due to the good dispersion offered by the ZnO produced using a wet chemical process.
Rubber was the dominant application segment in 2021 owing to the high demand for zinc oxide from the tire manufacturing industries.
Asia Pacific led the market in 2021 due to the growth of various end-use industries in the region.
North America is predicted to grow at a significant CAGR, in terms of revenue, from 2022 to 2030 owing to the presence of a large number of multinational companies in the region.

Read 80-page market research report, "Zinc Oxide Market Size, Share & Trends Analysis Report By Application (Rubber, Paints & Coatings, Chemicals, Ceramics), By Process (Wet Chemical, Direct, Indirect), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Zinc Oxide Market Growth & Trends

Inconsistency in the prices of raw materials and regulations against the usage of the product in several end-use industries are likely to hamper the demand in the coming years. Asia Pacific is projected to be the largest and fastest-growing regional marketover the forecast period. Factors, such as the growing automotive industry and increasing consumer spending on personal care products, are likely to fuel the market growth in the coming years. Key players in the market are inclined towards mergers & acquisitions and joint ventures. For instance, In September 2017, Zinc Oxide LLC acquired Zochem Inc., a subsidiary of American Zinc Recycling Corp. LLC. This deal has increased the revenue and production capacity of the company.

Zinc Oxide Market Segmentation

Grand View Research has segmented the global zinc oxide market on the process, application, and region:

Zinc Oxide Process Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Indirect
Direct
Wet Chemical
Others

Zinc Oxide Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

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

Zinc Oxide Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
Italy
Spain
Russia
Belgium
The Netherlands

Asia Pacific

China
Australia
India
South Korea

South America

Peru
Bolivia
Brazil

Middle East & Africa

Iran
South Africa

List of Key Players of Zinc Oxide Market

U.S. Zinc
Zinc Oxide LLC
EverZinc
Rubamin
Grupo Promax
Weifang Longda Zinc Industry Co., Ltd.
Yongchang Zinc IndustryCo., Ltd.

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Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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