Rockville, MD, May 12, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global zinc oxide nanoparticles market is estimated at US$ 376.6 million in 2022 and is expected to expand at a CAGR of 7.0% during the forecast years of 2022-2032.
Zinc oxide is used in a range of applications such as in the production of rubber, tires, glass & ceramics, animal feeds, as a raw material to produce zinc chemicals, cosmetics & pharmaceuticals, and others. These applications are continually surging the demand for high-purity zinc oxides.
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Consumption of zinc oxide nanoparticles has increased recently due to their impressive protection against early signs of skin aging including wrinkles and uneven pigmentation as well as their ability to prevent skin cancer. As a result, personal care products and color cosmetics that were previously only used for sports and on beaches have been incorporated into daily use.
The demand for sun protection products is expected to increase due to the rise of multifunctional sun care products that combine UV protection with anti-pollution, anti-aging, and moisturizing properties.
Significant advantages offered by zinc oxide nanoparticles such as chemical stability, thermal resistance, and longer shelf life over conventional zinc oxide will fuel its demand during the forecast period.
Key Takeaways from Market Study
- The global zinc oxide nanoparticles market is estimated to grow at a CAGR of 7.0% in the forecast period 2022-2032
- The market witnessed a 3.3% CAGR for the period of 2017-2021
- Coated ZnO nanoparticle dominates the market and is estimated to be valued at US$ 270.1 million in 2022
- North America is expected to be the crown of the market with a 34.5% market share in 2022
- ZnO nanoparticles are extensively used in the cosmetics and personal care industry and are likely to represent 81.5% market share in 2022
- South Asia & Oceania and North America’s demand for zinc oxide nanoparticles is expected to increase at CAGRs of 7.7% and 6.6%, respectively
“Increasing Disposable Income Leading to Increased Expenditure on Cosmetics and Personal Care Increases the Demand for ZnO Nanoparticles,” says a Fact.MR analyst.
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Key Companies
- ALTANA
- American Elements
- Anhui Linghu Paint Co., Ltd
- BASF
- Croda
- EverZinc
- Hakusui Tech Co., Ltd.
- Hanil Chemical Industry Co., Ltd.
- Nanophase Technologies Corporation
- Sakai Chemical Industry Co. Ltd.
- Tata Chemicals Ltd.
Market Development
Market goliaths within the zinc oxide nanoparticles industry are maintaining a good balance between organic and inorganic growth strategies. Investment towards production capacity and facility expansions, acquisitions, and collaborations have remained some top key strategies by market players in order to strengthen their position and deepen their roost across the globe.
Additionally, market players are focusing on expanding their product offerings by making R&D investments to offer advanced and smart products.
Segmentation of the Industry Research Report
- By Production Method:
- Direct Method
- Indirect Method
- By Grade:
- Coated
- Uncoated
- By Primary Function:
- UV Shielding Agent
- Antibacterial and Antifungal Agent
- Plastic Cross-linking Agent
- By Application:
- Cosmetics & Personal Care
- Sun Care
- Skin Care
- Color Cosmetics
- Others
- Paints & Coatings
- Polymers & Textiles
- Others
- Cosmetics & Personal Care
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global zinc oxide nanoparticles market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of production method (direct method, indirect method), grade (coated, uncoated), primary function (UV shielding agent, antibacterial and antifungal agent, plastic cross-linking agent), and application (cosmetics & personal care (sun care, skin care, color cosmetics, others), paints & coatings, polymers & textiles, others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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