Global Zinc Oxide Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Zinc Oxide Market is valued to reach USD 5.2 Billion by 2024, growing at CAGR of 5.2% over the forecast period 2020–2026. Growing application of zinc oxide in cosmetic and pharmaceutical industry, growing production and sales of automobiles and rising emphasis on skincare and skin protection are factors driving the market.

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The zinc oxide market has over the recent years gathering marked momentum from growing morbidity of bacterial infections on public healthcare system. In several countries, outbreaks of pathogenic strains have bolstered the need for antibacterial ingredients, where zinc oxide is emerging as promising avenue. This is something to do with their higher activity against gram-positive bacteria than most nanoparticles. Growing effect of such bacteria on the food safety, particularly ready-to-eat segment, has fuelled product research in the zinc oxide market. Growing prospect of zinc oxide in antimicrobial packaging is also likely to expand the potential biomedical applications. Zinc oxide nanoparticles permeate the cell membrane of microorganisms and inhibit their growth in range of packaged food.

In terms of end-use industry, the zinc oxide market can be segmented into rubber, ceramics, pharmaceuticals, chemicals, agriculture, and others. The rubber industry has dominated the market and is anticipated to dominate the market during the forecast period due to the extensive usage of zinc oxide as the main vulcanizing agent in the vulcanization process of rubber. The tire and automotive industries are anticipated to expand at a considerable growth rate during the forecast period, which in turn is projected to drive the zinc oxide market.

Market Trends, Drivers, Restraints, and Opportunities:

Zinc oxide is extensively used in the electronics industry due to its excellent physical properties. Expansion of the industry is projected to fuel the growth of the market.
If consumed, swallowed, or inhaled, this chemical compound can be hazardous to health. Zinc oxide, which is prescribed for medicinal usage can be taken in the form of cream or ointment.
Implementation of rigid regulations related to the utilization of zinc and slow economic growth are major hampering the growth of the market.
Medical grade zinc oxide has a positive effect on the digestive and immune systems. Hence, it has broad employed in the healthcare industry. It is used to treat skin conditions such as acne, dermatitis, diaper rash, and eczema. This, in turn, is projected to fuel the growth of the market.