ID: MRFR/CnM/4646-CR | September 2019 | Region: Global | 140 pages
According to MRFR analysis, the Global Zinc Oxide Market was valued at USD 3,663.11 million in 2018 which is projected to reach USD 5,660.82 million in 2025 at a CAGR of 6.23%. Zinc oxide possesses unique physical and chemical properties. It derived by three different processes—direct, indirect, and wet chemical process. Majorly used in rubber, chemicals, ceramics, fertilizers, pharmaceuticals, paint & coatings, personal care, electronics, and others.
The rubber industry is growing at a remarkable pace owing to the high demand for tires from the transport industry. Zinc oxide is used for vulcanizing rubber to manufacture tires, hockey puck, and shoe soles. Around 75% of rubber produced is used in tire production, which is one of the important parts of automobiles and transport vehicles. The growing production and sales of automobiles across the globe are boosting the demand for tires; this is expected to fuel the demand for vulcanization-market-7894'>rubber vulcanization. The most widely used rubber for tire production is styrene-butadiene rubber (SBR). Other than SBR, silicone rubber is also used in wide range of applications in automobile interiors such as airbags, ignition cables, HT cables, grommets, radiator seals, performance hoses, vibration dampening, spark plug boots, and ventilation flaps. This is attributed to the properties of silicone rubber such as environmental resistance, sealing properties, and temperature resistance.
The demand for zinc oxide is growing due to its increasing application in electronics and semiconductors. High production of smart devices has positively influenced the electronics industry. Further, the growing utilization of zinc oxide in cosmetic products is the key driving factor for the market. Furthermore, the inclination toward multipurpose products among the working population has triggered the growth in the adoption of skincare ingredients. There is also a high demand for skin lightening products in Asian and Middle Eastern population. Moreover, the sales of simple daily beauty use beauty products with the benefits of anti-aging, moisturizing, cleansing, UV protection, and antioxidant are high. Such trends are leading to the increasing use of zinc oxide in cosmetic products. .
Global Zinc Oxide Market Share, by Application, 2018 (%)
Source: MRFR Analysis
The global zinc oxide market has been studied across five key regions, namely Latin America, North America, Europe, and the Middle East & Africa, and Asia-Pacific.
The market in Asia-Pacific held the largest market share in 2018, and is expected to register a CAGR of 5.1% during the forecast period. The growing market for electric vehicles is expected to drive the demand for automotive tires, thereby propelling the adoption of zinc oxide . Countries such India, Japan, and South Korea are contributing major shares toward the growth of the regional market.
The North America market accounted for the share of around 21% in 2018 and is projected to register a CAGR of 4.5% during the forecast period owing to the increasing production of cosmetic products and the presence of a large number of tier manufacturing companies. The US is the major contributor to the growth of the regional market.
The European market exhibited a high growth rate in 2018 and is projected to register a steady CAGR by the end of 2025. Germany is a prominent country-level market in the region and is followed by France, Italy, the UK, and Switzerland owing to the high usage of zinc oxide in the automotive industry.
The markets in the Middle East & Africa and the Latin America are expected to register a healthy CAGR during the forecast period.
The global zinc oxide market has been segmented based on the form, application, and region.
Based on form, the global zinc oxide market has been segmented into powder and pellets.
By application, the global zinc oxide market has been categorized as chemicals, rubber, ceramics, cosmetic ingredients, paints & coatings, metal processing, others, and others.
Based on the region, the global zinc oxide market has been studied for five key regions— North America, Latin America, Europe, and the Middle East & Africa, and Asia-Pacific.
Some of the key players operating in the global Zinc Oxide market are Zochem (US), American Chemet Corporation (US), SILOX SA (Belgium), G.H. Chemicals (Canada), Rubamin (India), Grillo Zinkoxid GmbH (Germany), Pan-Continental Chemical Co., Ltd (Taiwan), Mario Pilato Blat, SA (Spain).