Zinc Oxide Market is Owing to Rising Application Across Various Industries

 

Zinc Oxide Market
Zinc Oxide Market 

Zinc oxide is an inorganic compound with the formula ZnO. It is a white powder that is insoluble in water. Zinc oxide finds applications across multiple industries such as rubber, cosmetics, chemicals, paints & coatings, pharmaceuticals, etc. owing to its UV blocking abilities, antioxidant properties, ceramic opacity and ability to prevent corrosion. It is used in numerous products including sunscreen lotions, ointments, powders, creams, sticks and gels. Zinc oxide acts as a physical blocker that reflects, scatters as well as absorbs UV rays of both UVA and UVB types. It provides broad spectrum protection against skin damage from the sun.

The Global zinc oxide market is estimated to be valued at US$ 6.34 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the zinc oxide market are MorphoSys US Inc., Bristol Myers Squibb, Karyopharm Therapeutics, F. Hoffmann-La Roche AG, Merck & Co., Inc., Gilead Sciences, Inc., and Novartis AG. These players are focused on developing advanced zinc oxide to cater to the rising  Zinc Oxide Market Demand from end-use industries.

The key opportunities in the zinc oxide market include development of zinc oxide with new properties to enhance its application scope. Manufacturers are investing in R&D to develop zinc oxide variants with better UV protection capacities, transparency, antimicrobial properties etc. This will help gain new customers and increase market penetration.

On the global front, manufacturers are expanding their production facilities and strengthening distribution networks across emerging economies of Asia Pacific, Latin America, and Middle East & Africa. This is attributed to availability of raw materials, cheap labor, and growing demand for personal care and construction products incorporating zinc oxide.

Market Drivers

Rising application of zinc oxide across various industries such as rubber, plastics, pharmaceuticals, and personal care is a key driver for the market. Zinc oxide exhibits excellent properties such as UV blocking, imparting opacity to products, acting as an antimicrobial agent. This has resulted in its increasing usage in manufacturing of various goods.

Market Restrains

Volatility in zinc metal prices directly impacts the cost of zinc oxide. As zinc is the primary raw material for zinc oxide, price fluctuations pose a major challenge. Any rise in zinc prices compels manufacturers to increase their product prices as well. This can limit the demand for zinc oxide from price-sensitive end-use applications.


Segment Analysis

Content: The global zinc oxide market is dominated by the sub-segment "Chemical grade" zinc oxide, accounting for over 55% of market share. This sub-segment dominated owing to rising application of zinc oxide in various end-use industries like rubber, ceramics, paints & coatings etc. as it possesses better chemical properties and purity levels required for various industrial applications. The "Dust" zinc oxide sub-segment holds the second largest share attributed to rising usage in personal care products owing to its UV blocking properties.

Global Analysis

Content: The North America region hold the largest share in global zinc oxide market followed by Asia Pacific region. The North America region dominated attributed to well-established end-use industries like rubber, chemicals, pharmaceuticals in countries like United States and Canada. The growth is attributed to rising demand for zinc oxide from paints & coatings industry. The Asia Pacific region is the fastest growing region due to rapidly growing construction, automotive and plastics industry in major countries like China and India. The demand is expected to further rise with growing industrial and infrastructure development activities in the region.

Gets More Insights on, Zinc Oxide Market


About Author:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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