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The global zinc oxide market size was valued at USD 5.51 billion in 2023. The market is anticipated to expand from USD 5.50 billion in 2024 to USD 8.51 billion in 2032 at a CAGR of 5.6% during the forecast period.
Fortune Business Insights™ presents this information in its report titled “Zinc Oxide Market Size, Share & Industry Analysis, By Process (French/Indirect Process, American/Direct Process, Wet Process, and Others), By Grade (Standard/Technical/Feed, Chemical/Treated, Pharma/USP/BP, Food/FCC, and Others), By Application (Rubber, Ceramic, Chemical, Agriculture, Paints & Coatings, Cosmetics & Pharmaceuticals, and Others), and Regional Forecast, 2024-2032”.
Occurring naturally as zincite, Zinc oxide is synthetically produced for diverse industrial applications such as electronics and cosmetics. The rubber sector's increasing dedication to eco-friendly and sustainable practices drives market growth, with zinc oxide serving as a dual-function vulcanization accelerator and reinforcing agent. This aligns with the industry's shifting focus toward environmental responsibility.
Amidst COVID-19, manufacturers faced shortages in terms of workforce, raw materials, and demand in industries such as cosmetics and ceramics, impacting the product demand. Post-COVID-19, the market rebounded as end-use industries started experiencing increased activities which drove up the demand for product despite earlier challenges.
Brugge¬mann Opened a New Chemical Manufacturing Plant at the Heil¬bronn site to Boost its Foothold
In 2023, Brügge¬mann successfully launched a new chemical manufacturing plant at the Heil¬bronn site. Operating with 15,000 metric tons of biomass yearly for equipment heating, this strategic move is poised to enhance Brügge¬mann's footprint in the growing carbon-neutral manufacturing landscape, leading to improved annual performance.
Increasing Product Utilization in Different Applications to Stimulate Product Demand
The development of nanostructured zinc oxide materials for solar cell applications, offering high conductivity and stability, presents a significant growth factor for the market. Moreover, the recent discovery of black zinc oxide in material science, unlocking potential in energy storage, optoelectronics, and chemical catalysis, providing manufacturers with opportunities for market expansion.
However, imposed workplace exposure limits, ranging from 5mg/m3 to 15 mg/m3, and associated safety concerns impedes the zinc oxide market growth in industries such as ceramics, agriculture, paints & coatings, and rubber.
Key Industry Participants Focus on Pricing Strategy to Gain competitive Edge
The global market, marked by high fragmentation, sees intense competition among numerous global and regional players, emphasizing price, product quality, and technological advancements. Differentiation is crucial for companies seeking a competitive edge, leading them to offer products with specific characteristics such as high purity, controlled particle size, and applicability across diverse uses.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/zinc-oxide-market-102480
List of Key Players Profiled:
Key Industry Development
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Unit | Value (USD Billion) and Volume (Million Ton) |
Growth Rate | CAGR of 5.6% during 2024-2032 |
Segmentation | By Process
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By Grade
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By Application
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By Region
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