India Zinc Oxide Market: Share and Size Analysis - USD 387.34 Billion in 2029

India Zinc Oxide Market: Share and Size Analysis - USD 387.34 Billion in 2029

July 11, 2024

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.

Market Drivers

Government Initiatives

The Indian government has undertaken initiatives to develop indigenous sources of critical minerals, including zinc. Efforts to encourage the use of zinc-based nanostructures in managing plant diseases, supported by schemes like Rashtriya Krishi Vikas Yojana (RKVY), aim to bolster domestic production and utilization of zinc oxide. These initiatives foster value addition and innovation, paving the way for a more self-reliant and sustainable future in the zinc oxide sector.

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Growing Applications in Paints and Coatings

The paints and coatings industry is shifting towards high-performance coatings that offer exceptional durability and resistance to corrosion. Zinc oxide, with its outstanding anti-corrosive capabilities and UV-blocking properties, is a key component in these advanced coatings. This shift is driving demand for zinc oxide in sectors such as infrastructure, automotive, and industrial applications, where long-term protection and enhanced performance are critical.

Market Segmentation

By Process

  1. Indirect Process
  2. Direct Process
  3. Wet Process
  4. Others

The indirect process segment held the largest market share. This method uses high-quality zinc metal, evaporated and oxidized to form zinc oxide powder. The particle size can be controlled during the manufacturing process, producing ZnO particles ranging from 30 to 2000 nm. The quality of the raw materials significantly influences the final product's purity and consistency.

By Application

  1. Rubber and Tires
  2. Ceramics and Glass
  3. Pharmaceuticals and Cosmetics
  4. Agriculture
  5. Paints and Coatings
  6. Others

By Region

  1. North India
  2. South India
  3. East India
  4. West India

The West India segment is expected to grow due to advancements in the automobile, construction, and personal care & cosmetics industries. The region's growing pharmaceutical industry, driven by ZnO's anti-inflammatory, antiseptic, drying, and ultraviolet protection properties, is also contributing to demand.

Key Trends and Opportunities

Advancements in Pharmaceuticals

India's pharmaceutical industry meets over 50% of global vaccine demand and has emerged as a major hub for pharmaceutical manufacturing. The industry's growth is driving demand for zinc oxide, especially given its extensive use in pharmaceuticals for its medicinal properties.

Increased Focus on Personal Hygiene

The rise in awareness about skincare and the increasing focus on personal hygiene are boosting demand for zinc oxide in the cosmetics and personal care industry. ZnO's properties make it a valuable ingredient in various skincare and personal care products.

Competitive Landscape

Major companies operating in the India Zinc Oxide Market include:

  1. Hindustan Zinc Limited
  2. Kannan Group
  3. Zinc-O-India
  4. Prakash Chemicals International Pvt. Ltd.
  5. Himadri Chemicals
  6. MLA Group of Industries
  7. Silox India Private Limited

The India Zinc Oxide Market is set for robust growth, driven by government initiatives, technological advancements, and increasing applications across various industries. The expanding pharmaceutical and personal care sectors, along with the growing demand in the paints and coatings industry, position zinc oxide as a vital component in India's industrial landscape.

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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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