Zinc Oxide Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

Methodology

Zinc Oxide Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Form

6.2.2. By End User

6.2.3. By Country

6.3. Asia-Pacific: Country Analysis

6.3.1. China Zinc Oxide Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Form

6.3.1.2.2. By End User

6.3.2. India Zinc Oxide Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Form

6.3.2.2.2. By End User

S.

6.3.3. Japan Zinc Oxide Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Form

6.3.3.2.2. By End User

6.3.4. South Korea Zinc Oxide Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Form

6.3.4.2.2. By End User

6.3.5. Australia Zinc Oxide Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Form

6.3.5.2.2. By End User

Zinc Oxide Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Form

7.2.2. By End User

7.2.3. By Country

7.3. Europe: Country Analysis

7.3.1. France Zinc Oxide Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value 7.3.1.2. Market Share & Forecast 7.3.1.2.1. By Form 7.3.1.2.2. By End User

7.3.2. Germany Zinc Oxide Market Outlook

7.3.2.1. Market Size & Forecast 7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

By Form

By End User

S.

7.3.3. United Kingdom Zinc Oxide Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Form

7.3.3.2.2. By End User

7.3.4. Italy Zinc Oxide Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Form

7.3.4.2.2. By End User

7.3.5. Spain Zinc Oxide Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Form

7.3.5.2.2. By End User

America Zinc Oxide Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Form

8.2.2. By End User

8.2.3. By Country

8.3. North America: Country Analysis

8.3.1. United States Zinc Oxide Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value 8.3.1.2. Market Share & Forecast 8.3.1.2.1. By Form 8.3.1.2.2. By End User

8.3.2. Mexico Zinc Oxide Market Outlook

8.3.2.1. Market Size & Forecast 8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast 8.3.2.2.1. By Form 8.3.2.2.2. By End User

S.

8.3.3. Canada Zinc Oxide Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Form

8.3.3.2.2. By End User 9. South America Zinc Oxide Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Form

9.2.2. By End User

9.2.3. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Zinc Oxide Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1 By Value

9.3.1.2. Market Share & Forecast

By Form

By End User

S.

9.3.2. Argentina Zinc Oxide Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1 By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Form

9.3.2.2.2. By End User

9.3.3. Colombia Zinc Oxide Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1 By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Form

9.3.3.2.2. By End User 10. Middle East & Africa Zinc Oxide Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Form

10.2.2. By End User

10.2.3. By Country

10.3. Middle East & Africa: Country Analysis

S.

10.3.1. Saudi Arabia Zinc Oxide Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Form

10.3.1.2.2. By End User

10.3.2. South Africa Zinc Oxide Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Form

10.3.2.2.2. By End User

10.3.3. UAE Zinc Oxide Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Form

10.3.3.2.2. By End User

Market Overview

Scope of Report

Product of Interest (POI): Zinc Oxide

Zinc oxide is a chemical compound composed of zinc and oxygen, with the chemical formula ZnO. It is a white powder that is insoluble in water and commonly found in nature as the mineral zincite. Zinc oxide has a wide range of applications due to its unique properties, including its ability to act as a semiconductor, its UV-blocking properties, and its antimicrobial properties.

Market Segmentation

• Automotive

• Construction

• Paints & Coatings

• Pharmaceutical

• Agriculture

• Others END USER FORM

• Powder

• Pellets

REGION

• Asia-Pacific

• Europe

• North America

• South America

• Middle East & Africa

ResearchMethodology

Methodology Landscape Research Methodology

Formulating Questionnaire

In-depth secondary research was conducted to determine top companies in the global Zinc Oxide market, overall market size, and segmental market size.

In order to conduct industry experts’ interviews, TechSci formulated a detailed Survey Questionnaires.

Developing list of Respondents

List of top companies and industry specialists was developed.

TechSci conducted interviews with industry experts and leadings companies for data collection and verification.

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about global Zinc Oxide market.

✓ Identifying Key Opinion Leaders

Questionnaire Design ✓ In-depth Interviews

Research Methodology

Objective of The Study

To analyze the historical growth in the market size of the global Zinc Oxide market from 2019 to 2023.

To estimate and forecast the market size of the global Zinc Oxide market from 2024 to 2029 and the growth rate until 2029.

To classify and forecast the global Zinc Oxide market based on form, end user, region, and company.

To analyze and forecast the market size in terms of Form (Powder, Pellets), End User (Automotive, Construction, Paints & Coatings, Pharmaceutical, Agriculture, Others).

To analyze and forecast the market size in terms of region: North America (United States, Canada, Mexico), Europe (Germany, France, United Kingdom, Italy, Spain), Asia Pacific (China, Japan, India, Australia, South Korea), South America (Brazil, Argentina, Colombia), Middle East & Africa (Saudi Arabia, South Africa, UAE)

To identify drivers, challenges, and trends for the global Zinc Oxide market.

To examine competitive developments in the global Zinc Oxide market, such as expansions, new product launches, mergers & acquisitions, etc.

To identify and analyze the profile of leading companies in the global Zinc Oxide market and the top 5 companies market share.

Baseline Methodology

Our research team has relied on primary and secondary research to gather market size and market data. The team has monitored and analyzed various aspects of the global Zinc Oxide market. The team has studied the outlook of multiple segments such as form, end user, and the companies of this market. The study includes historical data for 2019, 2020, 2021 and 2022, base data for 2023, estimated data for 2024 and forecast data for 2025, 2026, 2027, 2028 and 2029 which will enable our clients to make better decisions while planning their strategy to achieve sustainability in the global Zinc Oxide market.

Research Methodology

Formulation of the Scope

The base year is a reference point used as a starting point, for comparison in various analyses and forecasts. It serves as the foundation against which changes, growth, or trends are measured.

The review period refers to the time span during which historical data is examined, analyzed, and reviewed. It is the period of time leading up to the base year and is used to establish the baseline for comparison and understand trends.

The forecast period is a future-oriented timeframe during which predictions or projections are made based on current/ historical data and analysis. It extends beyond the base year and allows for estimations of potential future outcomes.

The market could be defined by a specific industry, product/service. The market then is further divided into meaningful segments based on demographics, psychographics, behavior, geography, or product/service categories. This helps in analyzing the market more effectively, along with estimating the size of each segment.

Assumptions and Limitations:

The base currency considered is USD. Based on the average exchange rate for the corresponding review period years, other currencies have been converted to USD. The projection period's exchange rate conversion was calculated using the conversion rates from the base year. The base year considered for this study is 2023. The historic period considered for this study is from 2019 to 2022. The estimated year for the study is 2024. The forecast CAGR considered is for the period of 2024E-2029F.

Note: 2023 being the base year, 2019-2022 is the review period, 2024 is estimated year and 2025-2029 is the forecast period for analyzing the market in between 2019-2029

Research Methodology

Sources of Research

TechSci Research has used a combination of secondary and primary research sources (free telephonic and face-to-face interviews and incentivized telephonic and face-to-face interviews with the respondents) to capture the data. We have an extensive network of respondents of participants in the value chain, industry experts, and customers to obtain relevant insights and navigate data challenges.

Secondary Research

It comprises desk research, in which our research team conducted a preliminary assessment of the information available through secondary sources. Below is the categorization given for each reference from which the data was sourced, and further, that data was used for the data triangulation and estimation of the market sizes and market shares.

Industry Associations

• International Zinc Association (IZA)

• American Coatings Association (ACA)

• China National Coatings Industry Association (CNCIA)

• The International Association of Advanced Materials (IAAM)

News Portals/Secondary Sources

• World Bank

• Company Annual Reports

• Factiva

• Hoovers

• EMIS

• Business Wire

• TechSci Research Proprietary Database & Knowledge

• Repository

• Industry Reports

• News Dailies

Research Methodology

Primary Research: Our research team maintains survey questionnaires with a set of questions and topics and responses from the primary respondents. The survey questionnaires are administered through telephonic or face-to-face interviews and surveys online or by email with the value chain participants. Surveys (online or by email) or field surveys are done to gather customer opinions. Interviews with industry experts are done through telephone or face-to-face interviews only. Below is a set of exercises done with the help of primary interviews through our network of respondents, such as value chain participants, industry experts, and customers, to obtain relevant insights and gather the required information.

Value Chain participants (Zinc Oxide companies) End Users/Customers Industry Experts

Sample Size = 10

• Survey Questionnaires

✓ Telephonic Interviews

✓ Face-to-Face Interviews

• Surveys

✓ Online

✓ email

• Partial List of Companies Interviewed

✓ Akrochem Corporation

✓ EverZinc Group SA

✓ Hakusui Tech Co Ltd

✓ Hindustan Zinc Limited

✓ Silox SA

✓ Weifang Longda Zinc Industry Co. Ltd

✓ Zinc Industrias Nacionales SA

✓ ZM SILESIA SA

✓ Zochem LLC

✓ Rubamin Pvt Ltd

Sample Size = 100 Sample Size = 5

• Surveys

✓ Online

✓ email

• Field surveys

✓ Face-to-Face Interviews

• Voice of Customers

✓ Brand Awareness

✓ Sources of Information

✓ Product Preferences, By Form

• Survey Questionnaires

✓ Telephonic Interviews

✓ Face-to-Face Interviews

Research Methodology

Approach for the Market Study

TechSci Research follows two types of approaches for the assessment of the market:

The Bottom-Up Approach of market analysis starts with a granular analysis of specific regions, segments, companies and then builds up to form a broader understanding of the overall market. This method focuses on gathering detailed data and insights at the micro level and then aggregating them to draw conclusions about the larger market.

The Top-Down Approach of market analysis involves starting with a broad view of the overall market and then narrowing down to specific segments or niches. It typically begins with analyzing macroeconomic factors and industry trends and then drilling down to understand the specific market segments, target customers, and potential opportunities.

Bottom-Up Approach 80%

Methodology Followed for Calculation of Market Size & Market Shares:

Market Size By Value: Market size, in terms of value, for the year 2023 was calculated based on information collected through exhaustive secondary research and primary surveys with various key opinion leaders i.e., value chain participants, such as Zinc Oxide companies, market influencers, industry experts.

The team interviewed 10 critical value chain participants, majorly from Zinc Oxide companies. The respondents have been working at responsible positions in the companies. The team interviewed 100 end users/customers for the Voice of Customer section and 5 industry experts associated with the Zinc Oxide industry from the last two decades were also interviewed. This exercise obtained the overall market size during 2019-2023, validated by multiple round of interviews. Considering standard deviation, the market size was averaged out to arrive at the market size data during 2019-2023.

Research Methodology

Market shares by form, by end user, by region, and by the company and current and future market growth rates were calculated based on the responses received through primary surveys with the value chain participants, in which the respondents were asked about the market shares or revenue generated from various segments of global Zinc Oxide market. The final percentage shares were calculated by taking the geometric mean of growth estimates, and company wise revenue shares generated across various segments were considered to arrive at the final market percentage shares after eliminating the outliers.

Forecasting Methodology:

TechSci Research performed periodical checks on data collected through the surveys with logic checks and analysed the survey results using statistical tools.

Data Triangulation & Validation:

Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global Zinc Oxide market, TechSci Research used various forecast techniques such as:

Moving Average Method for Time Series Analysis: The average of the data set of the market's historical data was considered for data forecasting. This technique is beneficial for forecasting short-term trends and is a widely used method for time series forecasting. Yearly moving average of historical data was used for estimating the trend values for time series forecasting.

After estimating the trend values based on yearly moving average methods, seasonal variations were calculated from the actual data. After getting these two as a basis, market sizes were predicted for the forecasting years.

Regression Analysis: In this technique, multiple linear regression analysis was practiced, which involves using a regression model to estimate the value of the dependent variable on the numerous independent and directly related variables. The values of the independent variable were typically those assumed to determine the values of the dependent variable. Based on the historical trend of market data of two or more independent variables, the data of the global Zinc Oxide market was forecasted with the help of statistical tools.

Research Methodology

Econometric and Judgmental Analysis: Relationships with the economic variables, majorly macro-economic variables, were considered to forecast the data, combined with incorporating intuitive judgment and opinions. This technique is majorly used when there is no historical data, and the market is totally niche, new, and unique.

Note: (a) Sum of some shares may not be 100% due to round off till two decimal places.

Allied Industry Parameters Studied:

Global Paints & Coatings Market Outlook

Global Specialty Chemicals Market Outlook

Global Pesticides Market Outlook

Global Bulk Chemicals Market Outlook

Global Lubricants Market Outlook

Market Overview

▪ Zinc oxide, a versatile compound with a wide range of industrial applications, has emerged as a crucial ingredient across various sectors. From rubber manufacturing to cosmetics, from pharmaceuticals to electronics, zinc oxide plays a pivotal role in numerous products and processes. As the global economy continues to evolve, understanding the dynamics of the zinc oxide market becomes increasingly important for investors, manufacturers, and policymakers alike.

▪ The rubber industry represents one of the largest consumers of zinc oxide, primarily due to its role as a crucial ingredient in the manufacturing of tires. With the automotive sector witnessing steady growth worldwide, the demand for tires has surged, consequently driving the demand for zinc oxide.

▪ Zinc oxide's properties, such as UV protection and anti-inflammatory characteristics, have led to its widespread use in sunscreen lotions, skincare products, and cosmetics. As consumers become increasingly conscious about sun protection and skincare, the demand for zinc oxide in the cosmetics industry has witnessed significant growth.

▪ Zinc oxide's antimicrobial properties make it a preferred ingredient in pharmaceutical formulations, particularly in products such as ointments, lotions, and medicated powders. With the growing prevalence of skin ailments and infections, the demand for zinc oxidebased pharmaceuticals is on the rise.

▪ Continuous research and development efforts have led to the development of advanced grades of zinc oxide, catering to specific industrial requirements. Nano-sized zinc oxide particles, for instance, exhibit enhanced properties and find applications in diverse sectors, including electronics, textiles, and ceramics.

▪ Zinc oxide production relies on zinc metal as a raw material, the prices of which are subject to volatility due to factors such as supply-demand dynamics, geopolitical tensions, and currency fluctuations. Fluctuations in raw material prices can impact the profitability of zinc oxide manufacturers.

▪ The zinc oxide manufacturing process involves high-temperature reactions, which may result in emissions of pollutants and greenhouse gases. Stringent environmental regulations aimed at reducing emissions and promoting sustainable practices pose compliance challenges for market players.

Recent Developments

Key Industry Developments

• In December 2023, Research progress on chitosan-zinc oxide nanocomposites fabrication, characterization, biomedical and environmental applications was published in ELSEVIER. The CS-ZnO composite nanomaterials have shown potential biomedical applications (antimicrobial, wound healing, and anticancer).

• In November 2023, Ecotoxicological, ecophysiological, and mechanistic studies on zinc oxide (ZnO) toxicity in freshwater environment was published in ELSEVIER. The study concluded, ZnO itself adversely affects many aspects including oxidative stress, energy content, growth, reproduction, and behavior. However, toxicity of ZnO depends on size, shape, coated chemicals, dissolution, and type of ZnO. Hence, ZnO contaminated in environment can pose a threat to living organisms, specifically in freshwater ecosystem.

• In August 2023, Nevada Zinc, a Canada-based development stage company, formed a strategic alliance with BelZinc, a zinc producer based in Belgium. Under this partnership, Nevada Zinc is leveraging BelZinc’s zinc processing technology to extract highgrade zinc oxide from its Lone Mountain mine, a non-sulphide zinc project located in Nevada, USA. BelZinc possesses a proprietary zinc processing technology capable of extracting high-grade zinc oxide from non-sulphide zinc ore. Nevada Zinc has highlighted the environmental benefits of this collaboration, asserting that supplying high-grade zinc to smelters can help reduce emissions associated with smelting operations. The company has successfully utilized BelZinc’s technology to produce zinc oxide, with samples sent to European smelters yielding positive results.

Sample Data- Snapshot

Global Zinc Oxide Market Size, By Value (USD Million), 2019–2029F Global Zinc Oxide Market Share, By Form, By Value, 2019–2029F

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TechSci Research is a Canada market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving By Productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and Canada industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.