Zinc Oxide Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1420
Zinc Oxide Market size to witness a substantial growth, with increasing demand in various industries including rubber, paint/coatings industry, ceramics/glass, cosmetics and pharmaceutical. Rising demand for cosmetics and personal care products will add to the growth of zinc oxide (ZnO) market in forecast time frame. The product is used as a bulking agent and protects the skin against harmful UV rays. Further government approval regarding the application of product in beauty segment will also be a major driving force for zinc oxide market growth.
Rising demand for the product in cosmetics industry as an essential nutrient for skin care, color cosmetics, hair care, toiletries, talcum and face powder are expected to be major factors propelling zinc oxide market growth. Upsurging use of the product as a filter against ultraviolet rays in sun protection lotions is expected to drive product development over the forecast period. In addition, increase in demand for application where product is widely used for lubrification and desulfurization to improve energy efficiency and protect the environment will help in product penetration. The chemical properties to seal out wetness and help in protecting chafed skin will further supplement application in baby products.
Increasing demand of ZnO in chemical and manufacturing industry will further boost the market size. Industrial application of the product majorly vulcanization of rubber will surge significantly in forecast period. Tire industry is one the major consumer of the product. Other major application including manufacturing of concrete, photovoltaic, electronic, optoelectronic devices and glass cutting. Rising application of product in paints and coatings is projected to drive the zinc oxide market growth.
North America, led by the U.S. is expected to account for substantial growth in the market during the forecast period. Government approval for the chemical in sun care applications is supporting the product growth across the region. Surge in demand for product is projected to increase with the rising automotive sales. Usage in rubber will account for largest industry share, followed by chemicals and agricultural applications will drive the zinc oxide market growth.
European region is anticipated to witness a significant growth in zinc oxide market owing to rising demand for cosmetics and personal care products. Government consent on the usage of ZnO in beauty segment is projected to further propel zinc oxide market growth. For instance, after European Commission Standing Committee permitted the product as an UV filter in beauty applications thus, many manufacturing companies started using ZnO in their sunscreen cosmetic products.
Asia Pacific is expected to gain significant growth in the zinc oxide market owing to rising application in cosmetics, especially the skin care products are anticipated to propel the market positively across the region. By 2019, more than 80.0% of global skin care products income will come from Asia Pacific, with China to account for more a major revenue share. China is a leading producer of zinc oxide pigment. Dye application is persistently increasing in Asia Pacific’s electronics industry due to antioxidant properties.
Zinc oxide market is highly competitive owing to presence of a considerable number of manufacturers worldwide. The key players are Zochem, Chemet, Silox, GH Chemicals, Rubamin, Grillo, Pan-Continental Chemical, Mario Pilato and Brueggemann. Other prominent players are Hakusui, Seyang, Umicore, Hebei Yongchang, Longli Chemical, and Shanghai Jinghua Chemical.
The industry participants are continuously focusing on expansion of their product portfolio across the globe. For instance, Zochem a North American manufacturer plans to expand its presence wide reaching for competitive advantage. The company will be further investing heavily to increase its manufacturing capabilities to deliver product to customers worldwide. Zochem also planned to open a distribution center in Europe as a part of project expansion.
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