Zinc Oxide Market Worth $5.7 Billion by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, Nov. 20, 2019 /PRNewswire/ -- According to the new market research report "Zinc Oxide Market by Process (French Process, Wet Process, American Process), Grade (Standard, Treated, USP, FCC), Application (Rubber, Ceramics, Chemicals, Agriculture, Cosmetics & Personal Care, Pharmaceuticals), Region - Global Forecast to 2024", published by MarketsandMarkets, the Zinc Oxide Market is estimated to grow from USD 4.4 billion in 2019 and to USD 5.7 billion by 2024, at a CAGR of 5.4% from 2019 to 2024. The demand from the rubber industry for using in the vulcanization process, which is used by the tire manufacturers, is driving the market.

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Browse in-depth TOC on "Zinc Oxide Market"104 – Tables 28 – Figures 117 – Pages

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Indirect (French) process segment accounted for the largest share of the zinc oxide market.

In this process, metallic zinc is melted in a crucible and is vaporized at high temperatures (above 1652 F).  The ZnO, thus obtained, typically consists of agglomerated particles with an average size of 0.1 micrometers to a few micrometers. ZnO produced by this process is used in rubber, cosmetics, pharmaceuticals, and paints.

The cosmetics & personal care applications is expected to register the fastest growth during the forecast period.

The property of ZnO to absorb harmful ultraviolet rays is widely put to use in cosmetics & personal care applications. Various types of sunscreen and baby lotions are prepared using ZnO, and as the consumers are becoming more aware of its benefits, this application is expected to drive the growth of the market.

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APAC was the largest zinc oxide market in 2018.

APAC led the global zinc oxide industry in 2018. The main reason for the growth of the market in the region is China, which accounts for 30% of the worldwide zinc oxide production. The demand is attributed to the growing tire and ceramic industries in China due to the demand from the construction and automotive sectors.

The key players in the Zinc Oxide Market are US Zinc (US), Zochem (US), EverZinc (Belgium), ZM Silesia (Poland), Akrochem (South Africa), Rubamin (India), Pan-Continental Chemical (Taiwan), J.G. Chemicals (India), Upper India (India), and Suraj Udyog (India).