India Zinc Oxide Market to Grow with a CAGR of 4.33% through 2029
Growing demand of zinc oxide from paints and coatings
industry is expected to drive the India Zinc Oxide Market growth in the
forecast period, 2025-2029.
According to
TechSci Research report, “India Zinc Oxide Market- By Region, Competition,
Forecast and Opportunities, 2019-2029”, the India
Zinc Oxide Market stood at USD 387.34 million in 2023 and is anticipated to
grow with a CAGR of 4.33% in the forecast period, 2025-2029. Initiatives taken
by government based on zinc oxide has led to favorable market conditions for
the India Zinc Oxide Market. Several factors contribute to the growth of
various zinc oxide products.
The Indian
government has proactively undertaken a multitude of initiatives pertaining to
zinc oxide. It is worth mentioning that the government has been diligently
working towards identifying and developing indigenous sources of critical
minerals, with a specific focus on zinc.
Moreover, there
have been concerted efforts to encourage the utilization of zinc-based
nanostructures in the management of plant diseases, supported by schemes like
Rashtriya Krishi Vikas Yojana (RKVY). These commendable initiatives aim to not
only bolster domestic production and utilization of zinc oxide and its
derivatives but also foster value addition and innovation in this domain. By
prioritizing the development and utilization of zinc resources, the government
is paving the way for a more self-reliant and sustainable future in this
crucial sector.
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The paints and
coatings industry has undergone a notable transformation, witnessing a
prominent shift towards high-performance coatings that offer exceptional
durability, outstanding resistance to corrosion, and enhanced protection. In
this context, zinc oxide emerges as a key component in formulating such
advanced coatings due to its remarkable and unique properties. Notably, zinc
oxide exhibits outstanding anti-corrosive capabilities, shielding the coated
surfaces from the detrimental effects of corrosion, while also providing
effective UV-blocking properties.
By incorporating
zinc oxide into coatings, the longevity and overall performance of the coatings
themselves are significantly improved, making them highly desirable for a wide
range of applications across various sectors, including infrastructure,
automotive, and industrial domains. The issue of corrosion remains a
significant concern across multiple industries, as it can lead to extensive
damage to infrastructure and result in increased maintenance costs. Recognizing this
challenge, zinc oxide has been widely acknowledged as a highly effective
corrosion inhibitor, finding extensive use in the formulation of paints and
coatings. By applying zinc oxide-based coatings, surfaces are effectively
safeguarded against the detrimental effects of rust and corrosion, thereby
extending the lifespan of structures and equipment. Consequently, the demand
for zinc oxide from the paints and coatings industry continues to experience a
steady rise, as more and more stakeholders recognize the invaluable benefits it
offers in terms of long-term protection and enhanced performance.
The India Zinc
Oxide Market is segmented into process, application, regional distribution, and
company
Based on its process,
the indirect process segment held the largest market share in the forecast
period. The indirect technique is commonly used in the manufacturing process of
the majority of ZnO. It is regarded as the fastest and most efficient
industrial method for producing zinc oxide. In this process, high-quality zinc
metal is utilized as the raw ingredient. The zinc metal is carefully evaporated
in a container and then exposed to air for rapid oxidation. This combustion
process results in the formation of zinc oxide powder, which is then cooled
down to achieve the desired consistency.
It is important
to note that the quality of the raw materials significantly influences the
final product. Only when using a high-purity feedstock can we expect to obtain
a high-purity zinc oxide output. Furthermore, the indirect approach primarily
yields ZnO particles with sizes ranging from 30 to 2000 nm. The particle size
can be controlled by adjusting the airflow and flame turbulence during the
manufacturing process. By carefully considering these factors and implementing
precise control measures, we can achieve optimal results in the production of
zinc oxide.
Based on region,
West India segment is expected to grow during the forecast period. This is
attributed to the advancing automobile, construction, and personal care &
cosmetics industries in West India. Moreover, the growing pharmaceutical
industry is anticipated to drive the demand for ZnO owing to its
anti-inflammatory, antiseptic, drying, and ultraviolet protection properties.
Additionally, the rise in awareness about skincare and the increasing focus on
personal hygiene have further contributed to the demand for ZnO in the region.
According to the
India Brand Equity Foundation, the pharmaceuticals industry in India meets over
50% of the global demand for different vaccines, positioning it as a key player
in the global pharmaceuticals market. With its robust infrastructure and
skilled workforce, India has emerged as a major hub for pharmaceutical
manufacturing, making it the third-largest pharmaceuticals industry worldwide.
Major companies
operating in India Zinc Oxide Market are:
- Hindustan
Zinc Limited
- Kannan
Group
- Zinc-O-India
- Prakash
Chemicals International Pvt Ltd.
- Himadri
Chemicals
- MLA
Group of Industries
- Silox
India Private Limited
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“Growing
application of zinc oxide in various end user industries are key drivers of the
zinc oxide market. Growth in competitive landscape and presence of
well-established companies in the market who are dedicated to enhance their
productivity of zinc oxide with every passing year are anticipated to register
an impressive growth to India Zinc Oxide Market in the forecast period.,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“India Zinc Oxide Market By Process
(Indirect Process, Direct Process, Wet Process, Others), By Application
(Rubber and Tires, Ceramics and Glass, Pharmaceuticals and Cosmetics,
Agriculture, Paints and Coatings, and Others), By
Region, By Competition Forecast & Opportunities, 2019-2029”,
has evaluated the future growth potential of India Zinc Oxide Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Zinc Oxide Market.
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