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| Zinc Oxide Market |
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 Takeaways
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.
Market Drivers
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.
Market Restrains
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.
Segment Analysis
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.
Global Analysis
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/
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