Zinc Oxide Market thrives with automotive rubber vulcanization and rising demand in sunscreens, skincare, ceramics, pharmaceuticals, and paints.

AUSTIN, TX, UNITED STATES, January 31, 2024 /EINPresswire.com/ -- According to the SNS Insider report, the 𝐙𝐢𝐧𝐜 𝐎𝐱𝐢𝐝𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at USD 5.3 billion in 2022. It is anticipated to reach USD 8.07 billion by 2030, exhibiting a CAGR of 5.4% from 2023 to 2030.

The zinc oxide market is experiencing significant growth due to its wide range of applications across various industries. Zinc oxide, a white powder with excellent properties, is primarily used as a pigment in the manufacturing of paints, coatings, and plastics. Its ability to provide high opacity and UV protection makes it an ideal choice for these industries.

Furthermore, the rising demand for zinc oxide in the cosmetics and personal care industry is also contributing to its market growth. Zinc oxide is widely used in sunscreens, skincare products, and baby powders due to its natural sun protection properties and soothing effects on the skin. With increasing awareness about the harmful effects of UV radiation, consumers are actively seeking products that offer adequate sun protection, thus driving the demand for zinc oxide-based formulations.

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Market Report Scope:
With increasing awareness of UV radiation's harmful effects, Zinc Oxide's demand has surged, especially in sunscreens and skincare products. Its role in rubber vulcanization for the automotive industry, ceramic glazes in the ceramics sector, and pharmaceutical products has significantly contributed to market growth.

Market Segmentation :
By Grade
• Standard
• United States Pharmacopeia (USP)
• Treated
• Food and Chemical Codex (FCC)
• Others
By Process
• Direct (American) Process
• Indirect (French) Process
• Wet Chemical Process
• Others
By Form
• Powder
• Liquid
• Pellets
By Application
• Rubber
• Chemical
• Paints & Coatings
• Ceramics
• Cosmetics and Personal Care
• Automotive
• Construction
• Agriculture
• Pharmaceuticals
• Electronics & Semiconductors
• Others

Market Analysis:
Zinc Oxide's market dominance stems from its pivotal role in rubber vulcanization, with over 65% used in tire production for the automotive industry. The compound's application as a white pigment in paints, offering UV absorption and corrosion inhibition, further contributes to its demand. However, concerns about health effects have led to regulatory restrictions in Europe, impacting its use as a feed additive.
Zinc Oxide Market Opportunities:
• Zinc oxide, a versatile compound with numerous applications, presents a plethora of market opportunities across various industries. One of the key drivers for the zinc oxide market is its extensive use in the cosmetics and personal care industry. Zinc oxide is widely used in sunscreens, as it provides effective protection against harmful UV rays. With growing awareness about skin health and increasing concerns regarding sun damage, the demand for zinc oxide-based sunscreens is expected to rise significantly.
• Furthermore, the healthcare sector offers promising opportunities for zinc oxide. The compound possesses antibacterial and antifungal properties, making it an essential ingredient in various pharmaceutical products such as ointments, creams, and lotions. The rising prevalence of skin infections and diseases worldwide is likely to drive the demand for these products, thereby fueling the growth of the zinc oxide market.

Impact of Recession:
• The impact of a recession on the zinc oxide market can be significant. During an economic downturn, consumer spending tends to decrease, leading to reduced demand for various products and industries. This decline in demand can directly affect the zinc oxide market as it is widely used in several sectors.
• One of the major applications of zinc oxide is in the rubber industry, where it is used as a reinforcing agent and vulcanization accelerator. In times of recession, the automotive industry typically experiences a decline in sales, resulting in reduced production and demand for rubber-based products such as tires. This decrease in demand for rubber products directly affects the zinc oxide market.

Segment Analysis:
In 2022, the powder form segment led with a 72% revenue share due to its versatile applications, including batteries, lubricants, and gold extraction. The indirect (French) process dominated with a 78.5% share, recognized for its speed and productivity. Automotive applications held the highest revenue share of 35% in 2022, propelled by the tire industry's growth.

Zinc Oxide Market Challenges :
• One of the major challenges faced by the zinc oxide market is the increasing competition from alternative materials. As industries are constantly seeking more sustainable and cost-effective options, they are exploring substitutes for zinc oxide in various applications. For instance, titanium dioxide is being increasingly used as a replacement for zinc oxide in sunscreen formulations due to its higher UV protection capabilities.
• Another challenge is the fluctuating prices of raw materials. Zinc oxide production heavily relies on the availability and cost of zinc metal, which can be influenced by factors such as mining regulations, geopolitical tensions, and global economic conditions. These price fluctuations can impact the profitability of zinc oxide manufacturers and make it difficult to maintain stable pricing for customers.
• Furthermore, environmental concerns surrounding the production and disposal of zinc oxide pose a challenge for the market. The traditional manufacturing process involves high energy consumption and emits greenhouse gases, contributing to climate change. Additionally, improper disposal or release of zinc oxide into water bodies can have detrimental effects on aquatic ecosystems.

Key Regional Development:
Asia Pacific dominated the market with a 51.2% revenue share in 2022, driven by the booming automotive and construction industries in countries like India, China, Japan, and South Korea.

Key Takeaways:
• The Zinc Oxide Market is set to witness substantial growth, reaching USD 8.07 billion by 2030.
• Automotive and cosmetic industries play a pivotal role in driving market expansion.
• Asia Pacific leads the market, fueled by the booming automotive and construction sectors.

Recent Developments:
• In the second quarter of 2023, Zochem, a leading player in French process zinc oxide production, announced plans to expand production capacity in Dickson, TN.
• In July 2022, Tata Chemicals unveiled nano zinc oxide (nZnO), boasting enhanced anti-fungal, anti-microbial, and UV-blocking properties, with implications for various industrial and cosmetic applications.

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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Zinc Oxide Market Segmentation, By Grade
9. Zinc Oxide Market Segmentation, By Process
10. Zinc Oxide Market Segmentation, By Form
11. Zinc Oxide Market Segmentation, By Application
12. Regional Analysis
13 Company Profile
13.1 LANXESS
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Product/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Zochem
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Product/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 EverZinc
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Product/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 U.S. Zinc
13.4.1 Company Overview
13.4.2 Financials
13.4.3 Product/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Neo Zinc Oxide
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Product/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Tata Chemicals Ltd.
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Product/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Upper India
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Product/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Pan-Continental Chemical Co. Ltd.
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Product/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Zinc Oxide Australia
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Product/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Rubamin
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Ace Chemie Zynk Energy Limited
13.11.1 Company Overview
13.11.2 Financials
13.11.3 Product/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
13.12 Akrochem Corporation
13.12.1 Company Overview
13.12.2 Financials
13.12.3 Product/ Services Offered
13.12.4 SWOT Analysis
13.12.5 The SNS View
13.13 Weifang Longda Zinc Industry Co. Ltd.
13.13.1 Company Overview
13.13.2 Financials
13.13.3 Product/ Services Offered
13.13.4 SWOT Analysis
13.13.5 The SNS View
13.14 AG CHEMI GROUP
13.14.1 Company Overview
13.14.2 Financials
13.14.3 Product/ Services Offered
13.14.4 SWOT Analysis
13.14.5 The SNS View
13.15 Yongchang Zinc Industry Co. Ltd.
13.15.1 Company Overview
13.15.2 Financials
13.15.3 Product/ Services Offered
13.15.4 SWOT Analysis
13.15.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
 
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