According to a new report, published by KBV research, The Global Zinc Oxide Market size is expected to reach $7.7 billion by 2030, rising at a market growth of 5.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,841.7 Kilo Tonnes, experiencing a growth of 4.9% (2019-2022).
The Indirect segment would display a CAGR of 5.3 % during the forecast period. The indirect process is known for producing high-purity zinc oxide. This makes it suitable for applications where product purity and quality are critical, such as the pharmaceutical, cosmetics, and electronics industries. The high purity and specific properties of zinc oxide produced using the indirect process are important for applications in the electronics and semiconductor industry. It is used as a semiconductor material in various electronic devices and sensors. The indirect process yields high-purity zinc oxide suitable for ceramics, enhancing the finish and properties of ceramic products.
The Automotive segment is leading the Global Zinc Oxide Market by Application in 2022 thereby, achieving a market value of $2.7 billion by 2030. Zinc oxide contributes to the development of high-performance tires that help improve fuel efficiency. As the automotive segment places a growing emphasis on environmental sustainability and fuel economy, the demand for such tires with zinc oxide content increases. Zinc oxide is a crucial ingredient in tire manufacturing, where it is used in the vulcanization process. This enhances the strength, wear resistance, and overall performance of tires. The steady demand for tires due to automotive production and the replacement tire industry ensures a continuous need for zinc oxide.
The Powder segment is showcasing a CAGR of 5.4% during the forecast period. Zinc oxide is an essential component of sunscreens and sunblocks due to its ability to block UV radiation effectively. It works as a physical sunblock, reflecting and scattering UV rays to protect the skin from sunburn and damage. Zinc oxide is used in cosmetics, such as foundation, powders, and creams, for its UV protection and skin-soothing properties and as a colorant in cosmetics like mineral makeup. Zinc oxide is used in medicinal and pharmaceutical products, including ointments, lotions, and creams. It provides antibacterial and antiseptic properties, making it useful for wound healing and skin care.
The Asia Pacific region dominated the Global Zinc Oxide Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4 Billion by 2030. The Europe market is anticipated to grow at a CAGR of 5% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 5.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/zinc-oxide-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of CCL Industries, Inc., Lanxess AG, Tata Chemicals Ltd. (Tata Group), Zochem inc., Toho Zinc Co., Ltd., Pan-Continental Chemical Co., Ltd., Ace Chemie Zynk Energy Limited, AG CHEMI GROUP s.r.o., HAKUSUI TECH CO., LTD., and Mario Pilato Blat SA.
By Process (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Form (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Million, 2019-2030)
Companies Profiled
Unique Offerings 
