The global zinc oxide market size is calculated at USD 4,454 million in 2024 and is predicted to reach around USD 8,361 million by 2034, expanding at a CAGR of 6.5% from 2024 to 2034.
Zinc oxide is a white powder that exists in the form of an insulating material having the basic chemical formula ZnO. It is a flexible inorganic material formed of zinc and oxygen elements. This compound is used in nature as the mineral called zincite, but for various applications, it is made artificially. Such industries include rubber processing; paints and coatings; ceramics, healthcare; Electronics and cosmetics; and pharmaceutical industries.
This is attributable to its extreme use in rubber during the development of vulcanization, which is the prime component in tires for the automotive industry. The Automotive Industry and tire industry have a close relationship, the rubber manufactured globally is used to manufacture tires. The increasing research and development for production technologies with low carbon and high yield muffle furnace could pose growth opportunities from the sustainable strategy perspective.
The high demand in the Asia Pacific region is propelled by several factors. People’s disposable income sees an upward trend which leads to a higher uptake of cosmetics and skincare which has boosted the demand for products containing zinc oxide. Rapid industrialization in countries through region supports the demand for various industrial applications.
Published by Saurabh Bidwai
