Zinc Oxide Market Trends

Growth Drivers

Increasing Use in Rubber and Tire Industry: Zinc oxide is widely used as a vulcanization accelerator in the synthetic rubber and tire industry. The demand for zinc oxide in this sector is driven by the growth of the automotive industry and tire manufacturing. According to a report, global rubber processing sales reached nearly USD 4.6 billion in the year 2020.
Expanding Applications in the Pharmaceutical Industry: Zinc oxide is utilized in various medicinal products, such as ointments and creams, due to its antiseptic and astringent properties. The pharmaceutical sector's growth contributes to the increased demand for zinc oxide in this industry.
Growing Adoption in Agricultural Applications: The use of zinc oxide in agriculture, particularly in animal feed additives, has been on the rise due to its positive effects on animal health and performance.

Challenges

Volatility in Raw Material Prices: The cost and availability of raw materials, particularly zinc metal, can be subject to fluctuations, impacting the production costs and profitability of zinc oxide manufacturers.
Environmental Regulations
Competition from Substitutes

Zinc Oxide Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	6.8%
Base Year Market Size (2024)	USD 12.61 billion
Forecast Year Market Size (2037)	USD 29.66 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of zinc oxide is estimated at USD 13.3 billion.

The zinc oxide market size was valued at USD 12.61 billion in 2024 and is likely to cross USD 29.66 billion by 2037, expanding at more than 6.8% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for the pharmaceutical sector will fuel the market growth.

Asia Pacific industry is likely to account for largest revenue share of 38% by 2037, as rapid industrialization and urbanization in the region have led to increased demand for zinc oxide in various industries, including rubber, ceramics, paints, coatings, and electronics.

The major players in the market are Umicore N.V., EverZinc, American Zinc Recycling, Weifang Longda Zinc Industry Co., Ltd., GH Chemicals Limited, Rubamin Ltd., ZOchem Inc., Seyang Zinc Technology (Shanghai) Co., Ltd., Mario Pilato Blat S.A., Grillo-Werke AG

Zinc Oxide Market Trends