Zinc Oxide Market Growth Drivers and Challenges:
Growth Drivers
- High recyclability of zinc and corresponding tariff reduction in global trade relations: Zinc is recyclable and aligns with the rising focus on sustainability. Refined or recycled zinc is recovered from secondary materials at both primary and secondary smelters. Secondary materials include crude zinc oxide and galvanizing residues and crude zinc oxide retrieved from electric arc furnace dust. As of December 2023, zinc ores and concentrates, zinc oxide, zinc content, and zinc peroxide in the U.S. had free trade relations. According to a Commonwealth of Pennsylvania May 2024 report, Befesa (previously known as American Zinc Recycling Corp.) in Delaware recycles and stores electric arc furnace dust (EAFD), where kilns are used to generate crude zinc oxide (CAO) and other iron from EAFD to crude zinc oxide (CZO) and iron-based material.
- Growth in global trade: Zinc oxide held a total trade value of USD 1.47 billion in 2023 and was the 845th most traded item out of 1217 products. Zinc oxide and peroxide represent 0.0065% of total world trade. In 2023 the top exporters comprised Mexico (USD 224 million), Canada (USD 138 million), the U.S. (USD 105 million), the Netherlands (USD 101 million), and Peru (USD 93.3 million). The top five zinc oxide and peroxide importers were the U.S. (USD 312 million), Germany (USD 103 million), Mexico (USD 82.5 million), Spain (USD 74.8 million), and Vietnam (USD 74.4 million). Between 2022 and 2023, the outbound supply grew the fastest in Thailand (USD 15.5 million), Egypt (USD 3.74 million), Nigeria (USD 3.23 million), Australia (USD 2.68 million), and Pakistan (USD 1.5 million). The highest export potential is China which has an export gap of USD 2.05 million, whereas the highest import potential is the U.S. with a gap of USD 2.76 million.
Challenge
- 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.
Zinc Oxide Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
5.7% |
|
Base Year Market Size (2025) |
USD 5.91 billion |
|
Forecast Year Market Size (2035) |
USD 10.29 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2026, the industry size of zinc oxide is estimated at USD 6.21 billion.
The global zinc oxide market size was more than USD 5.91 billion in 2025 and is anticipated to grow at a CAGR of more than 5.7%, reaching USD 10.29 billion revenue by 2035.
Asia Pacific zinc oxide market is anticipated to achieve a 38% share by 2035, driven by rising production of gallium and germanium.
Key players in the market include 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.
