Zinc Oxide Nanoparticles Market

Zinc Oxide Nanoparticles Market Growth Outlook

The global zinc oxide nanoparticles market is estimated to value at US$ 376.6 million in 2022 and further expand at a CAGR of 7.0% to reach US$ 738.0 million by the end of 2032.

Significant properties of zinc oxide nanoparticles like broad spectrum UV protection, antibacterial, antifungal, anti-inflammatory, protection against photo-aging, and skin healing properties have made it a choice of nanomaterial in a range of applications. Increasing demand from skin care applications to plastics, paints & coatings, baby products, adhesives, and semiconductor industry is set to result in an additional demand.

Report Attributes	Details
Market Size in 2021	US$ 355.1 Million
Market Value in 2022	US$ 376.6 Million
Forecasted Market Value (2032F)	US$ 738.0 Million
Global Market Growth Rate (2022-2032)	7.0% CAGR
North America Market Share (2021)	~34.5%
Europe Market Growth Rate (2022-2032)	~6.0% CAGR
East Asia Market Growth Rate (2022-2032)	~8.1% CAGR
Key Companies Profiled	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’s Buoyancy Analysis

Zinc oxide nanoparticle is an inorganic UV filter recognized for its exceptional broad-spectrum UV protection in sunscreen products. Owing to its less toxic nature and safety in skin care formulations it has emerged as a choice of UV filter in sunscreen and various skin care products.

Other bundled benefits offered by zinc oxide nanoparticles like efficacy in antiaging products have increased their consumption. It is also used as an antibacterial agent, antifungal agent, and a plastic cross-linking agent.

It also finds numerous applications in paints & coatings, plastics, textiles, semiconductors, adhesives, pharmaceuticals, and etc. Zinc oxide nanoparticles can be attached to fibers and fabrics to offer an effective broad-spectrum UV absorber in textiles. The trend of textiles with extra UV protection against the sun will surge its demand in textile industries.

• Early Growth Opportunities: Pullulating utilization and integration of zinc oxide nanoparticles in the cosmetic and personal care industry will positively impact the market growth.
• Medium-Term Growth Opportunities: East Asia and North America are estimated to observe high demand on the back of the growing cosmetics and paints & coatings industry in these regions, coupled with favorable government initiatives.
• Long-Term Growth Opportunities: Increasing use of zinc oxide nanoparticles in the medical and semiconductor industry drive will be responsible for stable demand in the long run.

Over the 2017-2021 historical period, the global zinc oxide nanoparticle market registered a CAGR of 3.3%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 7.0% CAGR between 2022 and 2032.

Market share analysis of zinc oxide nanoparticles based on application and region is provided in a nutshell in the above image. Under the grade segment, the coated sub-segment dominates with a 71.7% market share in 2022.

“Burgeoning Demand for Engineered Nanomaterials Poised to Create Progressive Environment for Market”

Nanotechnology is an advanced technological revolution, that deals with the manipulation of matter on a molecular scale. Engineered nanomaterial’s size ranges from 1 to 100 nanometers. In the last decade, governments across the globe, have invested over US$ 67.0 billion in the research and development of nanotechnology. Constant initiatives and huge investments done by the USA, China, and Europe for nanomaterials are poised to drive the global engineered nanomaterials market growth during the forecast period.

Engineered Nanomaterials ranged from m 0.37–1.48 Mg (dendrimers) to 210000–1 600 000 Mg (SiO2, Silicon dioxide), TiO2 (titanium dioxide), clays, ZrO2 (Zirconium dioxide), ZnO (Zinc Oxide), Al2O3 (aluminum oxide), and CNTs (carbon nanotubes) account for over largest share in engineered nanomaterials by mass.

Further, on the basis of technology readiness level, zinc oxide stands at the commercial level. Zinc Oxide nanoparticles being the top-produced nanomaterial along with titanium dioxide and Silicon dioxide have gained significant importance as a UV shielding agent. The aforementioned facts are set to fuel the demand for zinc oxide nanoparticles during the forecast period.

“Growing Demand for Sun Protection Products to Boost Adoption of ZnO Nanoparticles”

There has been a rise in the use of sunscreen protection products due to growing worries about the harm that prolonged sun exposure can inflict in recent years. The situation is anticipated to persist as a result of manufacturers of sun care products releasing novel products, like transparent lotions with antibacterial and antifungal qualities.

Zinc oxide nanoparticles are a popular ingredient among sunscreen makers due to their effectiveness in providing broad spectrum protection in sunscreens against UVA and UVB (in the range of 320-400 nm). Consumers are increasingly turning to sunscreen due to worries about the impacts of UV radiation, including premature skin aging, immune system suppression, and even cancer.

The need for zinc oxide nanoparticles will also be fuelled by their compatibility with other metal oxides, such as titanium dioxide, to enhance UVB protection and raise the sun protection factor. Additional benefits including outstanding photostability and great transparency are expected to drive demand.

“Toxicity Concerns Aligned with Use of Zinc Oxide Nanoparticles at Higher Concentration”

It is proven that zinc oxide nanoparticles are laced with antibacterial and antifungal properties, which are able to kill a range of bacteria and microorganisms. This is a key feature of zinc oxide nanoparticles, which makes them toxic to microorganisms and raises concerns related to them.

Zinc oxide nanoparticles may interact with the surface of microorganisms or with bacterial core, exhibiting different reactions or mechanisms. Zinc oxide nanoparticle is able to disrupt bacterial cell membrane integrity and hydrophobicity, which raise concerns related to their usage in cosmetics and other applications.

Above mentioned facts may hinder the consumption of zinc oxide nanoparticles during the forecast period.

Country-wise Insights

How is the Growing Cosmetic Industry in France Drive High Demand for Zinc Oxide Nanoparticles?

Countries from Europe such as France and Germany are growth epicenters for the zinc oxide nanoparticles market owing to the prominent presence of cosmetic and personal care product manufacturers. According to Cosmetics Europe, the European personal care and beauty market was valued at US$ 78.6 billion in 2021.

France is the leading exporter of beauty cosmetics and personal care products accounting for over 15% of the total European market. France is home to almost more than 430 cosmetic companies that are investing heavily in R&D to offer innovative and effective products.

Rising awareness and increasing disposable income lead to increased expenditure on high-quality cosmetics. Along with digitalization and globalization, consumers’ preference for green products will create lucrative opportunities for ZnO nanoparticle manufacturers.

What is the Scenario of China’s Zinc Oxide Nanoparticle Market?

China dominates the global market for zinc oxide nanoparticles as a result of significant R&D spending in the country. China is a significant user of zinc oxide nanoparticles due to its extensive rubber vulcanization activities, particularly those geared toward the automotive industry.

China is the third-largest market for personal care products and the demand for zinc oxide nanoparticles is expected to increase as a consequence of Chinese trends including increased sun protection (higher SPF and UVA protection). The demand in the region is expected to increase in the next years as a result of the Chinese trend of essence and sun gels, sun sprays, and transparent sunscreen sticks.

Additionally, the market in the area is anticipated to grow during the forecast period as a result of the popularity of multifunctional goods and the increased need for high-quality interior electronics, particularly in the automobile industry.

China is the crown of East Asia’s ZnO nanoparticles market accounting for 44.1% of the market share. The China market for zinc oxide nanoparticles is expected to reach a valuation of US$ 40.9 million in 2022.

Category-wise Insights

Why is Indirect Process Preferred by Zinc Oxide Nanoparticles Manufacturers?

In the indirect method or French process, zinc metal serves as the raw ingredient. During the Process, zinc is evaporated and then exposed to air for quick oxidation. The quality of the raw material has a significant impact on the final product's quality.

High-purity (>99%) zinc oxide products are produced only when a high-purity feedstock is employed. The ZnO nanoparticles formed after the process typically range between 30-2000 nm. The particle size can be changed by controlling the airflow and flame.

The indirect process is the primary production method among zinc oxide manufacturers and is used to produce high grades of zinc oxides. The scenario is projected to continue during the forecast period due to the increasing demand for ultra-fine zinc oxides.

Will Market Growth Be Led by Usage in Cosmetic & Personal Care?

Personal care is the largest segment in the global beauty and personal care market. The growth is due to the high demand for makeup products, cosmetic color products, and ongoing demand for the same. Further, increasing consumption of antiaging products and growing consumption of male grooming products are set to drive the global demand for beauty cosmetic and skincare products.

The impressive broad spectrum UV protection offered by zinc oxide nanoparticles attracts cosmetic manufacturers and the trend of antiaging and multifunctional skin care products is poised to open lucrative avenues for market players.

Increasing global awareness about the harmful side effects of ultraviolet rays has driven the consumption of sunscreen products. In order to prevent sunburn and even cancer caused due to UV light is poised to fuel the global sun care industry.

Sunscreen products being the largest application of zinc oxide nanoparticles will drive the global zinc oxide nanoparticles market growth. Further, the trend of multifunctional products, such as sunscreen protection with beautification properties is poised to assist the market growth.

Eminent Players Stratagems

Prominent zinc oxide nanoparticle manufacturers are ALTANA, American Elements, Anhui Linghu Paint Co., Ltd, BASF, Croda, EverZinc, GRILLO, Hakusui Tech Co., Ltd., Hanil Chemical Industry Co., Ltd., Nanophase Technologies Corporation, Sakai Chemical Industry Co. Ltd., Sukgyung AT Co., Ltd., Sunjin Chemical, Taekyung SBC. Co., Ltd., Tata Chemicals Ltd., and Tayca Corporation.

Market players are targeting to achieve ultra-fine levels of zinc oxide nanoparticles along with R&D investments and capacity expansions to align themselves with ever-changing trends and increasing demand. Setting up facilities across the major cosmetic and personal care formulating industries remains the top strategy for the market leaders in Zinc Oxide Nanoparticles Market.

• In June 2022, Aterian combined U.S. Zinc and EverZinc to form the largest zinc, chemistry manufacturer.
• ALTANA acquired Paul N. Gardner Company Inc. to integrate BYK business division. This will strengthen its position in paints, coatings, and related markets.

Fact.MR has provided detailed information about the price points of key manufacturers of zinc oxide nanoparticles positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of the Industry Research

• 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

• By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA