What is the current Zinc Oxide Market size?

The Zinc Oxide Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029) Read More

Who are the key players in Zinc Oxide Market?

Zochem, Inc., Weifang Longda Zinc Industry Co., Ltd. , EverZinc, Silox S.A and Akrochem Corporation are the major companies operating in the Zinc Oxide Market. Read More

Which is the fastest growing region in Zinc Oxide Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Zinc Oxide Market?

In 2024, the Asia Pacific accounts for the largest market share in Zinc Oxide Market. Read More

What years does this Zinc Oxide Market cover?

The report covers the Zinc Oxide Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Zinc Oxide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the emerging trends in the Zinc Oxide Market?

The emerging trends in the Zinc Oxide Market are a) Increasing use of zinc oxide nanoparticles in various applications due to their unique properties b) Rising demand for sustainable and eco-friendly materials c) Growing demand from the rubber industry, particularly for tire production as zinc oxide acts as a vulcanizing agent Read More

How is the Zinc Oxide Market segmented?

Zinc Oxide Market is segmented by a) Process: Indirect Process, Direct Process, and Wet Process b) Application: Rubber and Tires, Ceramics and Glass, Pharmaceuticals and Cosmetics, Agriculture, Paints and Coatings c) Form: Powder and Pellets Read More

Zinc Oxide Market Trends

Market Trends of Zinc Oxide Industry

This section covers the major market trends shaping the Zinc Oxide Market according to our research experts:

The Rubber and Tire Industry Dominate the Market

Zinc oxide is used as a vulcanizing agent in the process of vulcanization of rubber to increase durability. As rubber is used to manufacture tires, which are extensively utilized in the transportation industry, the consumption of zinc oxide is expected to increase during the forecast period.
Similarly, the higher loadings of zinc oxide can improve hot air/heat ageing properties, and if the concentration of zinc oxide is too low, it can lead to scorching problems. Furthermore, it reduces heat build-up and wears in tires. Thus, with the growth in the tire and rubber industry, the consumption of zinc oxide also increases concurrently.
According to the International Rubber Study Group, up to the third quarter of 2022, global rubber production increased by 0.6% to 21.8 million tons, up from 21.6 million tons in the same period in 2021. The ratio of natural rubber (NR) to synthetic rubber (SR) produced in 2022 was 48:52.
The global demand for natural rubber remains positive. Global output of natural rubber in 2022 was around 14.624 million tons, up 3.6% from the previous year. In 2022, global consumption was around 14.415 million tons, up 1.5% from the previous year.
The United States Tire Manufacturers Association (USTMA) forecasted total tire shipments in the United States to be 334.8 million units in 2022, compared with 335.2 million units in 2021 and 332.7 million units in 2019.
In January 2023, Nokian Tyres announced an investment of USD 174 million to double the Dayton factory output. A 600,000-tire warehouse is part of Nokian's Dayton factory expansion. The expansion and warehouse are in line with Nokian Tyres' initial investment, which called for the facility to be able to hold up to four million tires.

Zinc Oxide Market - Rubber Production, in Million Tons, Global, 2017-2022 (Q3)

Understand The Key Trends Shaping This Market

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The Asia-Pacific Region is Expected to Dominate the Market

The Asia-Pacific region stands to be the dominating market for zinc oxide. Factors such as the growing consumption of zinc oxide in the rubber, tires, and ceramic sectors will drive market growth.
According to the National Bureau of Statistics of China, in 2021, approximately 900 million tires were produced in China. Also, investments in expanding tire manufacturing in the country may increase the demand for zinc oxide during the forecast period.
According to the rating agency ICRA, domestic demand growth in volumes for the Indian tire industry is expected to be 13-15 percent for the fiscal year 2022 and 7-9 percent for the FY 22-25 period.
ICRA's sample of tire manufacturers saw 25% year-on-year (Y-o-Y) growth, with all-time high revenues in Q2 FY2022 due to favorable replacement and export sales volumes. With the increasing acceptance of Indian tires in overseas markets, tire exports have increased sharply this year, owing to strong demand from destinations such as the United States and Europe.
The Indian pharmaceutical industry is very important globally. India ranks third in terms of volume and 14th in terms of value. The country is the world's largest supplier of generic medicines, accounting for 20% of global supply by volume, and the world's leading vaccine manufacturer. India also has the most US-FDA-compliant pharma plants outside of the US and is home to over 3,000 pharma companies with a strong network of over 10,500 manufacturing facilities and a highly skilled resource pool.
According to Invest India, India's pharmaceutical industry is expected to be worth USD 65 billion by 2024 and USD 120 billion by 2030. India's pharmaceutical industry is currently worth USD 50 billion. India is a major pharmaceutical exporter, with over 200 countries served by Indian pharmaceutical exports. India meets more than half of Africa's generics demand, 40% of generic demand in the United States, and 25% of total medicine in the United Kingdom.
Furthermore, the Asia-Pacific region is the largest automotive manufacturing hub, registering almost 60% production share of the world. According to OICA, in 2021, the total production of vehicles stood at 46.73 million units, an increase of 6% compared to the same period last year, increasing the demand for tires in the region.