SAN FRANCISCO, March 23, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Zirconium – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 20; Published: February 2022
Executive Pool: 5621
Companies: 89 – Players covered include Allegheny Technologies, Inc.; ASM Inc.; Astron Ltd. ; Foskor Zirconia (PTY) Limited; Iluka Resources Limited; Imerys Fused Minerals Murg GmbH; Kenmare Resources plc; Luxfer Holdings plc; Oxkem Limited; Richards Bay Minerals; The Chemours Company; TiZir Limited; Tosoh Company; Tronox Limited; Zhejiang Jinkun Zirconium Industry Co., Ltd. ; Zircomet Limited and others.
Blanket: All major geographies and key segments
segments: Occurrence Type (Zircon, Zirconia, Other Occurrence Types); End use (ceramics, chemicals, refractories, foundries, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Zirconium Market To Reach 1.1 Million Metric Tons By 2026
Zirconium represents an obscure but vital element with immense potential for a full spectrum of applications. Commonly found in zircon, the element is an indispensable component of nuclear power plants, cell phones, paints, ceramics, catalytic converters and dialysis equipment. Based on its unique chemical and physical characteristics, zirconium is destined to find use in emerging applications, including sustainable and more efficient clean technologies. Factors responsible for the long-term growth of the market include increasing urbanization, rising growth in ceramic tile consumption, and growing demand for zirconium chemicals across various industries. Additionally, maturing of long-term contracts, growing popularity of zirconium flour, emergence of innovative applications as well as vertical integration in the zirconium market are some of the ongoing trends in the industry. . Some of the growth inhibitors include low pigment plant capacity utilization, radiological issues, fluctuation in exchange rates as well as other disturbances apart from the threat of substitute materials, price fluctuations, related health issues and its outright elimination from use in product formulations such as TV Glass.
Amid COVID-19 Crisis, Global Zirconium Market Estimated at 1 Million Metric Tons in 2022 is Expected to Reach a Revised Size of 1.1 Million Metric Tons by 2026, Growing at a CAGR of 3 .1% over the analysis period. Zircon, one of the segments analyzed in the report, is expected to register a CAGR of 3.3% and reach 845.3 thousand metric tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Zirconia segment is readjusted to a revised CAGR of 2.7% for the next 7-year period.
The US market is estimated at 89.2 thousand metric tons in 2022, while China is expected to reach 511.2 thousand metric tons by 2026
The zirconium market in the United States is estimated at 89.2 thousand metric tons in 2022. China, the world’s second largest economy, is expected to reach a projected market size of 511.2 thousand metric tons by 2026 growing at a CAGR of 2.7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 2.3% and 3.4% respectively over the analysis period. In Europe, Germany is expected to grow at around 3.3% CAGR. China ranks as the largest consumer of zirconium due to growing demand from end-use industries including ceramics, construction, medical and healthcare. Additionally, the country has become one of the largest producers of zirconium sponge. South Africa and Australiaholding huge ore reserves, represent the largest producers of zirconium in the world.
Global Zirconia Market Segment to Reach 224.1 Billion Metric Tons by 2026
The global zirconia market is estimated at 204.9 thousand metric tons in 2022 and is projected to reach 224.1 thousand metric tons by 2026, reflecting a compound annual growth rate of 2.7% over the period. to analyse. China constitutes the largest regional market for the Zirconia segment, accounting for 41.1% of global consumption. Asia Pacific is poised to record the fastest compound annual growth rate of 3.8% over the analysis period, reaching 26.6 thousand metric tons by 2026.
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