Zinc Oxide is an inorganic compound with the formula ZnO. It is a white powder that is insoluble in water. Some key properties of zinc oxide includes its antibacterial and UV absorbing nature which has increased its use in pharmaceutical, personal care and cosmetics. It is used in manufacturing bulk drugs, medical devices and as UV protectant in sunscreens. Zinc oxide is known for its skin protecting and antiseptic properties which have led to its increasing usage in creams, lotions and ointments. Zinc oxide also finds applications as pigment in rubber, plastics, glass and ceramics.
The Global zinc oxide market is estimated to be valued at US$ 6.34 Mn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 to 2030.
Key players operating in the zinc oxide market are MorphoSys US Inc., Bristol Myers Squibb, Karyopharm Therapeutics, F. Hoffmann-La Roche AG, Merck & Co., Inc., Gilead Sciences, Inc., and Novartis AG. These companies are engaged in new product development, capacity expansion and strategic collaborations to expand their market share.
The key opportunities in zinc oxide market lies in its increasing demand from personal care industry. Rising health awareness among consumers has increased the demand for skincare and sun protection products using zinc oxide. The market players are also focusing on expanding their manufacturing facilities in regions with high consumer demand like North America and Asia Pacific region.
The global zinc oxide market provides ample opportunities for expansion, especially in emerging markets of Asia Pacific and Latin America. Rising middle class population and economic growth in countries like China, India and Brazil is expected to drive the future demand. Market players are actively focusing on establishing manufacturing and sales network in these high potential regions.
One of the key driver for Zinc Oxide Market Share growth is increasing demand from healthcare sector. Zinc oxide’s antiseptic and skin protecting properties have increased its usage in pharmaceuticals, wound dressings, and surgery related products. It is also widely used as an active ingredient in ointments and creams for treating skin diseases. The increasing focus on personal hygiene and healthcare is expected to drive the consumption of zinc oxide market over the forecast period.
Availability of substitutes like titanium dioxide can restrain the growth of zinc oxide market. While zinc oxide provides good UV protection, titanium dioxide is considered more effective UV blocking agent. With titanium dioxide prices falling, some manufacturers may switch to it as substitute. Strict regulations pertaining to mining and production of zinc can also hamper market growth over the forecast period.
The zinc oxide market is dominated by the cosmetic sub segment owing to its varied applications in sunscreens, skin care creams and lotions, as it has natural sun protection properties and antibacterial qualities. Zinc oxide acts as a physical sunscreen protecting the skin from both UVA and UVB rays. It is widely used as the active ingredient in mineral based sunscreens and also forms a major part of daily use skin care creams and lotions. The construction sub segment is another major shareholder in the zinc oxide market due to its fire retardant and anti-corrosive properties making it an important ingredient in sealants, coatings, pipes and flooring which see extensive usage in residential and commercial construction projects.
The North America region accounts for the largest share in the global zinc oxide market owing to the extensive demand from cosmetics, pharmaceutical and rubber industries as key end users. The region is home to some of the biggest cosmetics companies and the changing lifestyle with increased preference for natural skincare products has further augmented the demand. The Asia Pacific region is anticipated to be the fastest growing regional market for zinc oxide. Developing economies like India and China are witnessing rapid industrialization and infrastructure development leading to a rise in construction activities which require zinc oxide based coatings and sealants.
For more insights, read-https://www.newsstatix.com/zinc-oxide-market-trends-size-and-share-analysis/