Market Size of Zinc Oxide Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Zinc Oxide Market Analysis
The zinc oxide market is expected to reach over 2,200 kilotons by the end of this year and is projected to register a CAGR of over 4% during the forecast period.
The market was negatively impacted due to the COVID-19 pandemic in 2020. Major tire manufacturers shut down plants due to the losses that occurred in 2020. However, the global tire industry witnessed a significant recovery in 2021 and maintained a similar trend in the first half of 2022.
- Over the medium term, the growing demand from the rubber industry is expected to drive market growth.
- However, the poisonous nature of zinc oxide fumes, the exposure to which can cause metal fume fever - a flu-like illness with symptoms of a metallic taste in the mouth, headache, fever, and chills - is likely to hinder the growth of the studied market.
- Increasing application of zinc oxide in the pharmaceutical and cosmetics industries will create new opportunities in the near future.
- The Asia-Pacific region dominates the market, owing to the growing application in the rubber and ceramic sectors. Asia-Pacific accounts for more than 90% of the world's natural rubber production and engages in rubber processing activities at a large scale. Moreover, India and China are the major consumers with favorable contribution from other Asian countries like Indonesia, Thailand and Malaysia.
