PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501651
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501651
Global Zinc Oxide Market is valued at approximately USD 5.51 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.70% over the forecast period 2024-2032. Zinc oxide (ZnO) is an inorganic compound that appears as a white powder, insoluble in water. It is used in a variety of applications due to its unique properties, including its ability to act as a semiconductor, its antimicrobial properties, and its effectiveness as a UV filter. One of the most common applications of zinc oxide is in creams, ointments, and lotions that protect human skin from sunburn and harmful UV rays. Zinc oxide is also used to treat a variety of skin disorders, including anti-dandruff shampoos, calamine creams, anti-septic ointments, infant care powder and diaper rash barrier creams. Zinc oxide is widely used in the personal and cosmetics industries due to its high refractive index, antimicrobial capabilities, UV protection, and thermal conductivity. Also, there is a growing emphasis on eco-friendly and sustainable products. Zinc oxide is being explored for its potential in green chemistry applications and as a non-toxic alternative to other materials. This trend is likely to support the Global Zinc Oxide Market as industries move towards sustainable practices.
Moreover, Zinc oxide's properties as a UV blocker make it a crucial ingredient in sunscreens and various skincare products. The increasing awareness of skin protection and the demand for cosmetic products with UV protection are fueling market growth. Also, in pharmaceuticals, Zinc Oxide is used for its antiseptic and antibacterial properties, finding applications in ointments, creams, and other medicinal products. Additionally, Zinc oxide is widely used as a vulcanization activator in the rubber industry, particularly for manufacturing tires. The increasing production of automobiles and demand for high-performance tires is boosting the need for Zinc Oxide. However, fluctuations in zinc prices and a prohibition on the use of zinc oxide in several applications are likely to stifle Global Zinc Oxide Market expansion during the projection period 2024-2032.
The key regions considered for the Global Zinc Oxide Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Asia Pacific was the largest regional market in terms of revenue. Zinc oxide is extensively used in the rubber industry as a vulcanizing agent. The expanding automotive industry in countries such as China and India drive the demand for rubber tires, subsequently boosting the need for zinc oxide. Also, the construction boom in emerging economies within the Asia-Pacific region has increased the demand for paints, coatings, and ceramics, all of which utilize zinc oxide for its protective and strengthening properties. Whereas, North America is expected to grow with the highest CAGR during the forecast period 2024-2032.