Zinc Oxide Market Size Worth US$ 6,338.82MN, Globally, by 2028 at 5.0% CAGR - Exclusive Report by The Insight Partners

NEW YORK, May 31, 2022 /PRNewswire/ -- The Insight Partners published latest research study on Zinc Oxide Market to 2028 – COVID-19 Impact and Global Analysis – Process (French Process, Wet Process, American Process, and Others), Grade (Standard Grade, Food Grade, USP Grade, and Others), Application (Rubber, Agriculture, Chemicals and Lubricants, Glass and Ceramic, Paint and Pigment, Pharmaceutical, and Others), and Geography. The zinc oxide market size was valued at US$ 4,506.51 million in 2021 and is projected to reach US$ 6,338.82 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028. Zinc oxide is used as a key ingredient in a wide range of cosmetics and pharmaceutical products such as bath soaps, makeup, lipstick, baby lotion, shampoo, zinc soap, dental inlays, sunscreen, antiseptic ointments, and calamine creams to prevent sunburn, and premature aging of the skin.

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Zinc Oxide Market: Competition Landscape and Key Developments

The key players operating in the global zinc oxide market include EverZinc; L. Brügge­mann GmbH & Co.; U.S. Zinc; Zochem, Inc.; Umicore; Grillo-Werke AG; Rubamin; JG Chemicals Pvt. Ltd.; Pan-Continental Chemical Co., Ltd.; and Akrochem Corporation. These players are focusing actively on expanding their distributions in several regions to increase their revenue.

Zinc oxide also finds its wide application in skin protectant products such as diaper rash ointments. Further, zinc oxide is an inorganic and insoluble compound mainly used as an additive in various products such as rubber, ceramics, paints, lubricants, foods, batteries, plastics, first-aid tapes, and medical substances. Additionally, the growth of the construction industry due to the rapid urbanization is propelling the growth of ceramics in developing economies such as China, India, Brzail.

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Asia Pacific held the largest revenue share of the global zinc oxide market share. The growing automotive sector in the region is propelling the zinc oxide market growth. The rise in the number of on-fleet vehicles in countries such as China, India, and South Korea is fueling the demand for rubber tires. As per the The International Organization of Motor Vehicle Manufacturers (OICA) report, in 2021, more than 43 million automotive vehicles were sold in Asia Pacific region. Also, the development of automotive parts and components in Asia Pacific with the rise of electric vehicle production will create lucrative opportunities for zinc oxide market players, as zinc oxide is used for the vulcanization of rubber, which is extensively used to make automotive tires. The growing focus on a fuel economy, rising demand for convenience, and high maintenance or replacement costs of conventional tires are also driving the growth of zinc oxide-based automotive tires.

Moreover, Asia Pacific is anticipated to grow at the fastest CAGR from 2020 to 2028. The market's growth in Asia Pacific region is due to the increasing application of zinc oxide in the pharmaceutical industries in countries, such as India and China, which will create lucrative opportunities for the market players during the forecast period. Zinc oxide is used to manufacture zinc tablets, which are consumed as health supplements. These tablets help boost immunity, lower the risk of heart attack and protect against eye disease. Furthermore, the rising geriatric population is increasing the incidences of heart attacks, which, in turn, increases the demand for zinc oxide.

The continuous urbanization, upcoming infrastructure projects, and growing population base is increasing the demand for residential and commercial structures. Also, various governmental flagship programs like 'Smart Cities, 'Housing for All', 'Make in India' and 'Atal Mission for Urban Rejuvenation and Transformation' (AMRUT) is boosting the construction industry's growth in India. Thus, the aforementioned factors and the government's initiatives for the construction industry is supporting to the market's growth and increasing demand for zinc oxide in ceramic applications in developing economies.

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Growing Application of Zinc Oxide for Bio medicinal is Driving the Market

The rising application of zinc oxide for bio medicinal usage is propelling the market growth. Zinc oxide has promising potential in biomedicine, especially in the fields of anticancer and antibacterial, which are involved with their potent ability to trigger excess reactive oxygen species (ROS) production, release zinc ions, and induce cell apoptosis. Also, zinc oxide nanoparticles have shown excellent luminescent properties and have turned them into one of the main candidates for bioimaging

Further, the U.S. Food and Drug Administration (FDA) conducted extensive reviews of the safety of zinc oxide for use as a color additive in drugs and skin protectant active ingredient and stated that zinc oxide might be safely used in cosmetics. The FDA has also approved zinc oxide in over-the-counter skin protectants at concentrations up to 25% and in sunscreen drug products at concentrations up to 25%.

Zinc Oxide Market: Segmental Overview

Based on process, the global zinc oxide market is segmented into french process, wet process, american process, and others. Based on grade, the zinc oxide market is segmented into standard grade, food grade, USP grade, and others. Based on application, the global zinc oxide market is segmented into rubber, agriculture, chemicals and lubricants, glass and ceramic, paint and pigment, pharmaceutical, and others.

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During the forecast period, Asia Pacific is anticipated to account for the largest share in the global butyric acid market. The region houses few of the fastest developing economies of the world such as China and India and that are the major consumer of the butyric acid. Moreover, in the Asia Pacific region, there is a growing number of livestock farms which is increasing the consumption of animal feed and subsequently proliferating the butyric acid market.

Based on application, the animal feed segment accounted the largest share of the global butyric acid market. Butyric acid and fatty acids are extensively used in production of poultry and swine feed due to its beneficial properties such as improving digestibility, better colonisation resistance, and improved growth performance among young livestock.

With the growing demand for chemical free foods globally, green zinc oxide nanoparticles consumption is increasing since it is safe alternatives to conventional chemical methods without leaving any air pollutants. Zinc oxide nanoparticles are effective for germination and improved development of plants. It also helps to boost the growth rate of stem and roots without extracting soil nutrients. The demand for green zinc oxide nanoparticle is gradually increasing due to its soil reviving properties and increased crop yield.

In addition to this, various government initiatives to support green and sustainable agriculture is providing lucrative opportunities for zinc oxide nanoparticles manufacturers globally. For instance, the Government of India introduced several programs such as National Mission for Sustainable Agriculture (NMSA), Soil Health Card (SHC), Mission Organic for Value Chain Development for Northeast (MOVCD), to promote green agriculture across the country. Green zinc oxide nanoparticles is quite safe and ecofriendly compared to chemical synthesis, hence farmers across the globe are gradually adopting this nano particles.

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Asia Pacific (APAC) is anticipated to grow with the fastest CAGR at rate of 15.3% from 2021 to 2028. The growing number of livestock farms in APAC is propelling animal feed consumption levels, subsequently leading to the proliferation of the butyric acid market.

Growing demand for butyric acid from animal feed sector is one of the major driving factors for the market. Butyric acid is known for its beneficial effects on gut health and development. For decades, it has been in use in the animal feed industry for ensuring improved gut health and animal performance. The use of butyric acid in animal nutrition also helps in improving nutrient absorption.

Impact of COVID-19 Pandemic on Zinc Oxide Market

Due to the COVID-19 pandemic, zinc oxide manufacturers witnessed a major disruption in the supply chain of their raw materials during the first two quarters of 2020. However, the zinc oxide materials supply chain restored, and production activities regained normalcy in late 2020. Further, with the growing COVID-19 vaccinations and eased lockdown restrictions, the global economy resumed, and subsequently, the zinc oxide market trend showed positive signs for business.

Due to the COVID-19 pandemic, butyric acid manufacturers witnessed a slight disruption in the supply chain of butyric acid during the first two quarters of 2020. However, the supply chain of butyric acid materials has been restored, and production activities have regained normalcy in late 2020. Later, the market was not significantly negatively impacted by the pandemic. Further, with the growing COVID-19 vaccinations and eased in lockdown restrictions, the global economy is resuming, and subsequently, the butyric acid market is regaining its growth.

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