Zinc Oxide Market
Growth Factors of Zinc Oxide Market
The Zinc Oxide Market size was valued at USD 5.51 billion in 2023 and is projected to grow from USD 5.50 billion in 2024 to USD 8.51 billion in 2032 at a CAGR of 5.6% during the forecast period of 2024-2032.
The COVID-19 pandemic had a sizeable impact at the zinc oxide market .Lockdowns, decreased business sports activities sports, and transport rules affected the deliver of raw substances and no longer on time production schedules. This brought approximately a quick slowdown within the zinc oxide marketplace, mainly in sectors like rubber and ceramics that rely cautiously in this compound. However, call for from sectors like healthcare and personal care, in which zinc oxide is carried out in merchandise like lotions and ointments, helped stabilize the marketplace inside the route of the pandemic recuperation section.
A key the use of detail for the zinc oxide market is the growing call for from the rubber enterprise, specifically in tire manufacturing. Zinc oxide is crucial as an activator within the vulcanization manner, enhancing the strength and durability of rubber products. With the upward thrust in automobile production and the growing transportation company globally, the call for for durable tires has increased, sooner or later boosting zinc oxide intake. This call for is further supported through the developing reputation on sustainable and gas-inexperienced tires, at the side of to the market’s increase trajectory.
A fashion in the zinc oxide marketplace is the growing adoption of nano zinc oxide in numerous industries, specially cosmetics, electronics, and coatings. Additionally, upgrades in nanotechnology have extended its usage in electronics and coatings, in which precision and popular normal performance are important, thereby the use of this trend beforehand.
Comprehensive Analysis of Zinc Oxide Market
The Zinc Oxide Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by process, by grade,by application . By Process include French / Indirect Process, American / Direct Process, Wet Process ,Others. By Grade include Standard / Technical / Feed ,Chemical/Treated, Pharma/USP/BP, Food/FCC, Others. By Application include Rubber, Ceramic, Chemical, Agriculture, Paints & Coatings, Cosmetics & Pharmaceuticals, Others.
The Asia Pacific region lead the Zinc Oxide Market share by benefitting a market size of USD 3.07 billion due to demand for products used in machinery, equipment, control systems, and power distribution networks, contributing to market expansion .
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.
December 2023 - Brügge¬mann announced the a success establishment of a brand new chemical manufacturing plant on the Heil¬bronn web site. The plant operates on 15,000 metric heaps of biomass in step with 12 months for the heating cause of the gadget. Brügge¬mann’s approach is expected to reinforce its presence inside the developing carbon natural manufacturing society, contributing to improved annual overall performance.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion) and Volume (Million Ton)
Growth Rate CAGR of 5.6% during 2024-2032
Segmentation By Process
- French / Indirect Process
- American / Direct Process
- Wet Process
- Others
By Grade
- Standard / Technical / Feed
- Chemical/Treated
- Pharma/USP/BP
- Food/FCC
- Others
By Application
- Rubber
- Ceramic
- Chemical
- Agriculture
- Paints & Coatings
- Cosmetics & Pharmaceuticals
- Others
By Region
- North America (By Process, By Grade, By Application, By Country)
- U.S.
- Canada
- Mexico
Europe (By Process, By Grade, By Application, By Country)
- Germany
- U.K.
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific (By Process, By Grade, By Application, By Country)
- China
- India
- Japan
- South East Asia
- Rest of Asia Pacific
Latin America (By Process, By Grade, By Application, By Country)
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa (By Process, By Grade, By Application, By Country)
- Saudi Arabia
- UAE
- Rest of Middle East & Africa