Home Bulk Chemicals Nano Zinc Oxide Market Size, Share and Forecast to 2030

Nano Zinc Oxide Market

Nano Zinc Oxide Market Size, Share & Trends Analysis Report By Product Type (Coated nano zinc oxide, Un-coated zinc oxide), By End-Use Industry (Paints and Coatings, Cosmetics, Chemicals, Pharmaceuticals, Textiles, Electronics, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRCH1410DR
Study Period 2020-2032 CAGR 6.5%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market Asia-Pacific Fastest Growing Market Europe
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Market Overview

The global nano zinc oxide market size was valued at USD 350 million in 2021 and is projected to reach USD 616.90 million by 2030 at a CAGR of 6.5% from 2022 to 2030.

Zinc oxide is a multifunctional material that has unique chemical and physical properties, such as chemical stability, paramagnetic nature, a broad range of radiation absorption, and high photo-stability. It is an inorganic and insoluble compound that is mainly used as an additive in various products. It is transparent, non-toxic, and is commonly available in the market as powder or dispersion. Furthermore, the nanoparticles of zinc oxide that range between 1 - 100 nanometre in size enveloped in an interfacial layer are mainly known as nano zinc oxide.

Market Dynamics

Zinc oxide also has anti-bacterial, anti-fungal, anti-corrosion, catalytic, and UV filtering properties and thus, finds its applications in sunscreens, anti-microbial, conductive thin-films in blue laser diodes, protective coatings, solar cells, LCDs, varistors, photo printing, transparent plastics and plastic films, capacitors, and electrophotography. Moreover, the characteristics of this compound can be improved by doping, changing the chemical composition, size, shape, as well as surface area.

The global nano zinc oxide market is anticipated to grow during the forecast period owing to the increasing consumption of nano zinc oxide in paints and coatings, cosmetics, food contact materials (such as containers for transporting food, machinery to process food, packaging materials, kitchenware and tableware, and others), electronics, textiles, and other industries. However, inhaling its nano particles via spray or other products can cause harm to living beings leading to health problems, and hamper the global nano zinc oxide market growth.

Regional Analysis

Rapid Industrialization and Urbanization Contribute to the Asia-Pacific Market Growth

The Asia-Pacific is expected to have the largest market share in the global nano zinc oxide market during the forecast period. The growth can be attributed to the presence of developing countries like India and China. The countries in the region have observed industrialization and urbanization, due to which industries such as paints and coatings, cosmetics, personal care, chemicals, pharmaceuticals, electronics, and others have seen a robust growth. According to the data shared by the International Trade Administration, the USA, the pharmaceutical industry of China is expected to become the second-largest in the world during the forecast period due to increasing health awareness, and rising total and per capita expenditures on healthcare which uses nano zinc oxide in first-aid tapes, antiseptic creams, dental creams, etc.

The growing population and rise in the disposable income of the individuals have also positively impacted the growth of these industries which is expected to drive regional market growth. As per the National Bureau of Statistics of China, the national average resident disposable income was USD 6,632 billion in Q4, 2017, which grew to USD 7,815 billion in Q1, 2018 at a growth rate of 6.6% which is projected to increase further during the forecast period.

Emerging Textile Industry Expected to Drive the European Market

Europe is expected to be the second-largest region to hold the maximum share in the global nano zinc oxide market owing to increasing demand from the textile industry. The region is considered home to some of the most important textiles and fashion inventions and therefore, has a strong textile market. Nano zinc oxide is used to provide extra protection from the sun as it is a highly-effective broad-spectrum UV absorbent and can be firmly attached to the fabricfibers for reliable UV protection.

The rising fashion industry in Europe demands high-quality fabrics which are then converted into different outfits contributing to the regional market growth. The European Apparel and Textile Confederation estimated the turnover of the textile and clothing industry in the EU-27 to be 185.49 USD billion, whereas investments amounted to 573 USD billion, which showed an increase of 2.7% compared to 2018 and is projected to further increase during the forecast period. Therefore, this increase in the demand for nano zinc oxide from the textile industry will promote market growth in this region.

Report Scope

Report Metric Details
Segmentations
By Product Type
  1. Coated nano zinc oxide
  2. Un-coated zinc oxide
By End-Use Industry
  1. Paints and Coatings
  2. Cosmetics
  3. Chemicals
  4. Pharmaceuticals
  5. Textiles
  6. Electronics
  7. Others
Company Profiles Croda International PLC S. Zinc Corporation Zochem LLC Zinc Nacional S.A. Zinc Oxide LLC H. Chemicals Ltd EverZinc Group Pan-Continental Chemical Co Ltd Advanced Nano Technologies Ltd Weifang Longa Zinc Industry Co. Ltd
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

Growing Cosmetics Segment to Augment Demand For Nano Zinc Oxide

Based on end-use industry, cosmetics segment is expected to boost the global nano zinc oxide market during the forecast period. Nano zinc oxide is largely used as a colorant for cosmetic products. It is also used for bulking, skin protection, and as a UV absorbent. The growth can be attributed to the increasing consciousness of one's appearance and grooming leading to demand for cosmetic products in the market. The growing demand for online shopping for cosmetic products allows the manufacturers, or producers to establish a wide sales network which accelerates the market growth.

Furthermore, the rise in per capita disposable income with an improved standard of living is the vital contributing factor for market growth. According to the 2019 annual report of L'Oreal Paris, the cosmetic market saw a growth of 5.5% in 2019, of which approximately 40% constituted the skincare and 18% makeup segment which demonstrates the rapid growth in the cosmetics industry.

Rising Demand for Paints and Coatings Segment to Boost the Market Growth

Nano zinc oxide offers a range of functionalities, such as thermal barrier, anti-bacterial, easy-clean, anti-corrosion, protection, and UV-absorbent, and therefore, is widely used in the paints and coatings industry. The increase in the focus of the government on the renovation of existing infrastructure especially public places is creating demand for paints. It has a lot of untapped potential in the developing countries where the construction sector is on a boom due to the robust economic growth and its positive impact on corporate profits, the state of public finances, and household income which is expected to boost the demand for nano zinc oxide.

As per the data shared by the Republic of Turkey - Ministry of Trade, the value of the global paint and coatings industry, valued 100 billion USD in the year 2019. Out of which, the decorative coatings formed 44% and industrial coatings formed 56%.

The growth in various end-user industries like automobiles, across the world, is expected to increase the consumption of paints and coating leading to global nano zinc oxide market growth. According to the statistics shared by the International Organization of Motor Vehicle Manufacturers (OICA), a total number of 95,634,593 cars and commercial vehicles, across the world, were manufactured in the year 2018.Out of which, 21,072,296 units of light commercial vehicles were manufactured worldwide, which is 4.2% higher than 2017. The rise in car production is anticipated to create greater demand for automotive paints, which in turn, is expected to augment the market growth during the forecast period.

Market Size By Product Type

Recent Developments

  • In December 2019, EverZinc Group invested in zinc oxide to increase its production from 55 KT to 85 KT through new product lines and company acquisitions.
  • In January 2019, EverZinc Group, one of the leading companies in zinc chemicals production, acquired G.H. Chemicals Ltd., and Microzinc Inc., which are manufacturer and exporter of French Process Zinc Oxide products, to meet the growing demand for zinc chemicals in North America in January 2019.
  • In September 2017, Zinc Oxide LLC, a manufacturer of zinc oxide, acquired Zochem, which is a subsidiary of American Zinc Recycling LLC in September 2017 to be the leading supplier of zinc oxide in North America.

Top Key Players

Croda International PLC S. Zinc Corporation Zochem LLC Zinc Nacional S.A. Zinc Oxide LLC H. Chemicals Ltd EverZinc Group Pan-Continental Chemical Co Ltd Advanced Nano Technologies Ltd Weifang Longa Zinc Industry Co. Ltd Others

Frequently Asked Questions (FAQs)

What is the growth rate for the Nano Zinc Oxide Market?
Nano Zinc Oxide Market size will grow at approx. CAGR of 6.5% during the forecast period.
Some of the top industry players in Nano Zinc Oxide Market are, Croda International PLC, S. Zinc Corporation, Zochem LLC, Zinc Nacional S.A., Zinc Oxide LLC, H. Chemicals Ltd, EverZinc Group, Pan-Continental Chemical Co Ltd, Advanced Nano Technologies Ltd, Weifang Longa Zinc Industry Co. Ltd, etc.
In the Nano Zinc Oxide Market, Asia-Pacific has established itself as the market leader with a significant market share.
The Nano Zinc Oxide Market has seen the most substantial growth rate in Europe.
The global Nano Zinc Oxide Market report is segmented as follows: By Product Type, By End-Use Industry


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