Zinc Oxide Market Research Report and Outlook by 2028

The zinc oxide market was valued at approximately US$ 4,506.51 million in 2021 and is anticipated to grow to US$ 6,338.82 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.0% during the period from 2021 to 2028.

Zinc oxide plays a crucial role in various applications, including its use in enzymes, sunscreens, and topical ointments designed for pain and itch relief. Its microcrystalline structure allows it to effectively absorb light in the ultraviolet A and B ranges due to its wide bandgap properties. The biological effects of zinc oxide are influenced by several factors, including its morphology, particle size, exposure duration, concentration, pH levels, and biocompatibility. It has demonstrated efficacy against a range of microorganisms, including Bacillus subtilis, Bacillus megaterium, Staphylococcus aureus, Sarcina lutea, Escherichia coli, Pseudomonas aeruginosa, Klebsiella pneumoniae, Pseudomonas vulgaris, Candida albicans, and Aspergillus niger.

The growing utilization of zinc oxide across various sectors such as rubber, ceramics, chemicals, pharmaceuticals, and personal care products is significantly boosting its demand. The rubber industry is projected to experience the most rapid growth, driven by increased tire sales and other rubber products in the automotive sector across multiple regions. Furthermore, ongoing investments in research and development aimed at creating innovative and improved products that incorporate zinc oxide will continue to propel market demand, thereby contributing to the overall growth of the zinc oxide market.

Additionally, the trend of increasing usage of zinc oxide in personal care products globally is expected to further enhance market growth. Zinc oxide is a common ingredient in a variety of personal care and cosmetic items, including baby lotions, makeup, foot powders, and bath soaps. The rising demand for phthalate-free plasticizers is also contributing to the market, as there is a shift towards using benzoate plasticizers, which in turn drives the need for zinc oxide. The transition from phthalate-based to non-phthalate plasticizers is thus fostering growth in the zinc oxide market.

In the Asia Pacific region, the zinc oxide market is projected to witness substantial growth during the forecast period, primarily due to heightened demand from the rubber industry. Zinc oxide is essential for the vulcanization process in rubber, particularly within the automotive sector. The expansion of the automotive industry in this region will further support the growth of the zinc oxide market. The increasing number of vehicles on the road in countries like China, India, and South Korea is driving the demand for rubber tires. Additionally, growing awareness regarding fuel efficiency is boosting the demand for zinc oxide lubricants in the Asia Pacific region.

The rise of electric vehicle production in Asia Pacific is also expected to create significant opportunities for players in the zinc oxide market, as zinc oxide is vital for the vulcanization of rubber used in automotive tires. The emphasis on fuel efficiency, coupled with the demand for convenience and the high costs associated with maintaining or replacing traditional tires, is further propelling the growth of zinc oxide-based automotive tires.

Key players in the zinc oxide market include EverZinc, L. Br?gge?mann GmbH & Co., U.S. Zinc, Zochem, Inc., Umicore, Grillo-Werke AG, Rubamin, JG Chemicals Pvt. Ltd., Pan-Continental Chemical Co., Ltd., and Akrochem Corporation.

The overall size of the global zinc oxide market share has been determined through a combination of primary and secondary research methods. Extensive secondary research has been conducted utilizing both internal and external sources to gather qualitative and quantitative data related to the zinc oxide market. Additionally, numerous primary interviews have been carried out with industry participants to validate the findings and gain deeper analytical insights. These participants include industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers, and external consultants, including valuation experts, research analysts, and key opinion leaders specializing in this market.