Global Zinc Oxide Market: Market Analysis by Knowledge Sourcing Intelligence
The zinc oxide market is predicted to witness a compound annual growth rate of 4.32% during the forecast period to reach a total market size of US$5.239 billion by 2023, increasing from US$4.065 billion in 2017. Zinc oxide is considered as a multifunctional material due to its unique physical and chemical properties. This will further increase the demand for zinc oxide and thus is used in a variety of end-user applications. One of the main properties of zinc oxide is its antibacterial property and hence this property is widely utilized in applications which include food, pharmaceuticals, water and wastewater treatment among others. The potential application of zinc oxide across a wide range of end- user industries is driving the growth of the zinc oxide market in the forecast period. Also, growing innovations and increasing research & development investments, especially in the field of nanotechnology is further driving the market growth.
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| Sample View of Zinc Oxide Market Forecast, US$ Billion, 2017 TO 2023 |
Global Zinc Oxide Market by Geography:
By geography, zinc oxide market is segmented as North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). APAC dominated the global zinc oxide market in 2017 and is projected to remain at its position till the end of the forecast period. This dominance is attributed to the high rubber production in countries like Malaysia and Thailand. Growing demand across agriculture sector and cosmetic industry also contribute to the growth of APAC Zinc Oxide market. European market will also witness a substantial growth of zinc oxide market owing to the EU approval to the use of zinc oxide for various applications including cosmetics and pharmaceuticals. The market research provides a detailed analysis of global zinc oxide market on the basis of various segment like- by geography, by application etc.
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| Sample view of Zinc Oxide Market Share by Geography |
Global Zinc Oxide Market by Application:
By application, the zinc oxide market is segmented as rubber, ceramics, chemical, agriculture, pharmaceutical, cosmetics and personal care, and others. Rubber applications hold a major share in this market on account of increasing automotive production worldwide, which is driving the demand for tires. Cosmetics and personal care applications also hold a significantly large share in this market. Zinc oxide is an FDA approved ingredient in many of the cosmetics and personal care products produced worldwide. The market is expected to show a good growth in other applications as well.
global zinc oxide market size
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In the form of a food additive, zinc oxide is used as an essential trace element. Also, zinc oxide nanoparticles are known for their antimicrobial properties and are used in food preservation.
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