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Market Summary

The Global Zirconium Market is projected to grow at a CAGR of 4.9% from USD 444.8 million in 2019 to USD 657.1 million in 2027. One of the mentionable factors that are acting as a significant driver for the market is the upsurge of nuclear power stations in developing nations that results in increase in demand for zirconium. Apart from the increase in nuclear power stations, factors like stable growth in refractories and foundry applications also have a positive impact on the growth of the industry. In the last decade, a rise in the demand for zirconium can be observed that has contributed to its market growth.

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Blue zircon, zircon ring, green zircon, yellow zircon are some of the widely-used types of zirconium. Zirconium wedding band is one of the high-growing zirconium uses. Cubic zirconia is the most used form of zirconium.

A rise in demand for the product in surface coatings is another mentionable factor that is boosting the growth of the market. Developing nations are also witnessing a surge in the construction industry. Zirconium is an indispensable resource for the construction industry. Applicability of zirconium ranges from ceramic tables, sanitary ware, decorative ware, table, pipes, and bricks. This rise in the construction industry and the varied applicability of zirconium has resulted in positively impacting the expansion of zirconium market.

The chemical element is associated with specific properties like low acidity, high bonding capacity, high chemical resistance, low thermal expansion coefficient, good recyclability, and low wettability by molten metal. The presence of these qualities makes zirconium applicable in foundries that results in boosting the zirconium industry.

In spite of diverse applicability of zirconium, factors like development of other substitute products to this element and limited dependency on the same would harm the growth of the industry.

In regards to region analysis, Asia Pacific dominates the market. Reason for dominance of the region is a drastic expansion of the nuclear sectors along with a large amount of ceramics export. The fact that ceramics is an essential raw material for the mentioned industries results in the market dominance of the region.

Occurrence Type Outlook:

In regards to the occurrence, zirconia is forecasted to witness the highest growth rate of 5.8% during the forecast period. The reason for the highest growth rate of this segment during the forecast period is because of its applicability in the production of ceramics. The Asia Pacific region is one of the largest exporters of ceramics that contributes to its growth rate during the forecast period.

Zirconia is forecasted to witness the highest growth rate of 5.8% during the forecast period. The reason for the highest growth rate of this segment during the forecast period is because of its applicability in the production of ceramics. The Asia Pacific region is one of the largest exporters of ceramics that contributes to its growth rate during the forecast period.

End Use Outlook:

Among all the end users of zirconium, ceramics segment occupied the largest market share of 45% in the year 2019, with a growth rate of 5.4%. In the ceramics segment, the applicability of zirconium ranges from sanitary ware, tableware, and tiles. Such diverse applicability of this element in the ceramics segment along with significant exports of ceramics have contributed to its market dominance.

Application Type Outlook:

In the context of application, the nuclear grade held the largest market share of 45% in 2018, and it is forecasted to witness a growth rate of 5.1% during the forecast period. Reason for market dominance of this segment is the increase in nuclear power stations in developing nations.

Regional Outlook:

In regards to the region, Asia Pacific held the largest market share of 38% in 2019. It is forecasted to witness a growth rate of 5.2% during the forecast period. The reason for the market dominance of this region is the development of nuclear power stations in this region and substantial exports of ceramics.



Market-O-Nomics

Other than the mentionable applicability of the element in ceramics, foundry, refractory, it is also applicable in pressure vessels, heat exchangers, columns, vacuum tubes, piping systems, and condensers. Such varied applicability of zirconium also has a positive impact on its market growth

It is also applicable to the production of insulating, artificial jewelry, and abrasive materials. Such diverse applicability results in positively impacting the growth of the industry

Development of prosthetic applications of products like fabrication of crown and fixation of partial dentures has also created a new area of operation of this industry that results in further boosting the market.

The presence of strong corrosion resistance properties in zirconium makes it applicable in nuclear power plants. The presence of such a feature contributes to the growth of the market.

Applicability of the element in the nuclear industry has resulted in making it an integral part of the production of nuclear product casings and fuel containers.

In the context of processing, extraction holds a significant portion of the market. Extraction is forecasted to hold 62% of the market by 2026, with a growth rate of 4.6%. Factors contributing to the market dominance of this segment is the necessity of this processing method in collecting zircon that is considered to be an essential method in gathering zircon from sand and gravel. The significance and necessity of this method in gathering zircon contribute to its market dominance.

Companies considered and profiled in this market study

Iluka Resources, Alkane, Exxaro Resources, Tronox, Kenmare Resources, RBM, Luxfer Holdings PLC, Oxkem Limited, Richards Bay Minerals and Smartac Group China Holdings Limited, among others are leading players involved on the global market.

In November 2017, Ivoclar Vivadent announced the addition of several new LT blocks to its existing IPS e.max ZirCAD for the Cerec product range. These new launched blocks were designed to allow dental practices for manufacturing esthetic monolithic zirconium oxide restorations effectively at chairside.

Start-up Traction

The industry poses significant amount of opportunities for small manufacturers and startups to come up with cost-effective solutions in the manufacturing of products. Many innovative start-ups that are growing remarkably have been profiled in the report with all their innovative techniques and developments. There is a continuous growth in demand from the end-users, which can encourage several startups to launch innovative products in this market.

Deals Landscape

Mergers and Acquisitions are an integral part of this industry. These mergers and acquisitions help us decide the strategic initiatives taken up by the leading players as well as growing companies dealing in this market, and have been included in this report.

In November 2018, Lomon Billions announced its plan to acquire the China National Nuclear Corporation’s shares in Guangdong Orient Zirconic Ind Sci & Tech Co.,Ltd., a company based in Chenghai, China. Post-acquisition mines zirconium minerals & products including the zirconium oxides, compound zirconium oxides, dioxides, and zirconium silicates will be taken over.

In June 2017, Imerys announced its agreement with Zhejiang Zr-Valley Science and Technology Co., Ltd. about the acquisition of this manufacturer of zircon products in China.

Expert Insights:

Reports and Data forecasts in the industry having considered the interviews with some of most the prestigious personalities and experts in this market Blood pressure monitors take up a significant amount of market shares. Blue zircon, zircon ring, green zircon, yellow zircon are some of the widely-used types of zirconium. Zirconium wedding band is one of the high-growing zirconium uses. Cubic zirconia is the most used form of zirconium. The main players, according to experts, need to review their strategies in order to support the following COVID 19 scenario and to maintain healthy relationships with their business partners. As a result of this pandemic, the world's average disposable income would decrease. The main manufacturers of the company are expected to attempt to discover new areas.

Segments covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2027. The scope of the report can be defined as:

For the purpose of this report, Reports and Data have segmented the global Market based on Occurrence, Processing, End-user, Application, and Region:

Occurrence Type Outlook (Revenue: USD Million; 2017-2027)

Zircon

Zirconia

Others

Product Type Outlook (Revenue: USD Million; 2017-2027)

Extraction

Refining

End-user Outlook (Revenue: USD Million; 2017-2027)

Ceramics

Zircon chemicals

Refractories

Foundry

Others

Application Type Outlook (Revenue: USD Million; 2017-2027)

Nuclear grade

Industrial grade

Firearm grade

Regional Outlook (Revenue: USD Million; 2017-2027)

North America U.S Canada

Europe Germany U.K France BENELUX Rest of Europe

Asia Pacific China India Japan Rest of APAC

MEA Saudi Arabia UAE Rest of MEA

Latin America Brazil Rest of LATAM

