PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501653
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1501653
Europe Zinc Oxide Market is valued at approximately USD 1.16 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.80% over the forecast period 2024-2032. Zinc oxide is a chemical material with the formula ZnO. It's a white powder that doesn't dissolve in water. It occurs naturally as mineral zincite, while most zinc oxide is synthetically produced. Zinc oxide has a wide variety of applications. It's a popular element in paintings, cosmetics, and sunscreen. It is also utilized in rubber, plastics, ceramics, glass, and concrete. Zinc oxide is used as a topical treatment to treat diaper rash, among other skin conditions. Also, Zinc oxide finds applications across diverse industries including rubber, ceramics, chemicals, pharmaceuticals, cosmetics, and agriculture. The increasing demand from these sectors, driven by population growth, urbanization, and industrialization, is a significant trend in the Europe Zinc Oxide Market.
Moreover, the rubber industry extensively uses zinc oxide in the manufacturing of tires, footwear, and other rubber products. The need for zinc oxide is increasing as the automobile sector increases and high-quality tyres grow gaining in popularity. Also, Zinc oxide is considered environmentally friendly and safe compared to alternatives. With increasing awareness of sustainability and environmental concerns, there's a shift towards using eco-friendly materials, boosting the demand for zinc oxide. Additionally, other factors that support the market growth are growing investments in research and development and increasing use in pharmaceuticals and cosmetics. However, fluctuating zinc prices and limits on the use of zinc oxide in several applications are expected to impede Europe Zinc Oxide Market growth from 2024 to 2032.
The key countries considered for the Europe Zinc Oxide Market study includes UK, Germany, France, Italy, Spain, and Rest of Europe. In 2023, Germany was the largest market in terms of revenue. Zinc oxide is used extensively across various industries such as rubber, ceramics, chemicals, pharmaceuticals, cosmetics, and electronics. The rise of these industries, particularly in rubber manufacture, where zinc oxide is an important component in the vulcanization process, boosts demand for zinc oxide. Whereas, the United Kingdom is expected to grow with the highest CAGR during the forecast period 2024-2032.