Rubber Revolution: Rising Demand Propels Zinc Oxide Market Growth in Automotive and Beyond

Zinc oxide, a versatile inorganic compound, holds immense significance in various industries. With its remarkable properties, including high refractive index and excellent UV-blocking capabilities, zinc oxide is a key component in sunscreen and cosmetic products. It also serves as a crucial ingredient in rubber and plastics manufacturing, providing enhanced strength and heat resistance. Additionally, zinc oxide finds applications in pharmaceuticals, ceramics, and electrical devices, showcasing its wide-ranging impact across multiple sectors.

Valued at US$ 3.7 billion in 2021, the market reached US$ 3.9 billion in 2022. Historically, the market observed a sluggish CAGR of 3.3% from 2017 to 2021. The global zinc oxide market size is anticipated to reach a valuation of US$ 7.3 billion by 2032, with sales growing at a positive and restored CAGR of 6.4% from 2022 to 2032. Increasing application of rubber across multiple industry verticals and the growing use of zinc oxide in rubber manufacturing and in the production of cosmetics, paints, and ceramics will facilitate the growth of the zinc oxide market.

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A primary growth inducer for the zinc oxide market is the use of the product in the manufacturing of rubber. The rising production volume of rubber will boost the consumption of zinc oxide as it is used as an activator for the vulcanization of rubber. This demand is further amplified due to the rising use of rubber in different industries including automotive and transportation. Rubber finds expansive application in the automotive industry for the production of items like tires, hoses, gaskets, roll coverings, and adhesives. Moreover, rubber is in high demand in several other industries like packaging, engineering, manufacturing, and construction, among others. Thus, the high demand for rubber spurs the demand for zinc oxide in the next few years.

Zinc oxide witnesses greater demand as a melting point reducer in the manufacturing of ceramics. Zinc oxide nanoparticles have also emerged as a promising biomedicine candidate, especially for anticancer and antibacterial applications. These aspects have a positive impact on the sales of zinc oxide in the forthcoming years. Again, zinc oxide gains application as a catalyst in various chemical processes such as a sunscreen active ingredient in cosmetics and personal care products, and as an anti-corrosion element in paints and coatings. All of these considerations, along with others, underpin the growth of the zinc oxide market during the projection period.

Key Takeaways in Zinc Oxide Market:

- An advancing automotive sector along with heightened demand for zinc oxide powder will aid the growth of the market in China.
- The zinc oxide market in the US will reach US$ 1.2 billion by the end of 2032, fueled by rising ceramic production.
- By grade, the industrial category will expand at a CAGR of 6.1% due to its superior physical and chemical properties.
- Based on process, the indirect or French process segment will develop at a CAGR of 6.6% owing to its increasing commercial use.

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Competitive Landscape in the Zinc Oxide Market

EverZinc, Hindustan Zinc, Votorantim Group, GHC, Rubamin, Zinc Oxide LLC, Grupo Promax, Weifang Longda Zinc Industry Co. Ltd., U.S. Zinc, and American Zinc Recycling, among others, are some of the key players in the zinc oxide market profiled in the full version of the report.

Leading market players are focusing on expanding their production capacities so as to strengthen their market presence. A few of these participants also employ partnerships, collaborations, mergers, and acquisitions tactics to gain a competitive edge.

Zinc Oxide Market Segmentation

By Grade:

Industrial
Pharma
Food

By Application:

Wet Chemical
Indirect
Direct

By Application:

Rubber
Ceramics
Chemicals
Cosmetics and personal care
Paints & Coatings
Pharmaceutical
Agricultural
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa

More Insights into Zinc Oxide Market 

In its latest report, FMI offers an unbiased analysis of the global zinc oxide market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, application, and region.

According to the same reports, based on segmentation, the indirect process of producing zinc oxide will retain popularity due to its use in the commercial production of zinc. This segment will grow at a CAGR of 6.6%. In terms of grade, the industrial grade will lead the market with a CAGR of 6.1%.

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.