Global Zirconium Market 2016-2020

Overview of the global zirconium market

Technavio’s market research analyst predicts the global zirconium market to grow at a CAGR of almost 7% by 2020. One of the major drivers for the growth of the global zirconium market is the increase in demand from China. China has emerged as a hub for the manufacture of zirconium because of its low-cost labor and flexible government regulations. In 2015, China produced more than 90% of ZOC and zirconium silicate across the world. The country’s liberal trade policy gives access to exporters from developed countries in the Americas and EMEA. Moreover, the growing construction industry in China has led to an increase in the consumption of ceramics, propelling the demand for zirconium.

In terms of geographical segmentation, APAC is the fastest growing zirconium region in the market and will continue its dominance during the forecast period. The high growth rate of the market in APAC can be attributed primarily to the increase in demand from emerging countries such as China and India. Countries like Japan, Indonesia, and Australia are the other major contributors to the market, in terms of stable consumption for zirconium.

Competitive landscape and key vendors

The global zirconium market is dominated by established players that have significant market presence. China and North America are the leading markets for zirconium. Vendors in the market anticipate that the high demand for ceramic products in APAC will significantly contribute to the growth of the zirconium market in the region. In the North American market, especially in the US, the market growth is led by strong industrial activities and manufacturing. With the growing number of applications, the demand for zirconium worldwide is expected to increase, especially in the nuclear, medical, and zirconium-based chemical fields. To meet the constantly growing demand, there have been several new investments in mine developments as well as in downstream processing technologies.

Leading vendors in the market are -

• Alkane
• Exxaro Resources
• Iluka Resources
• Kenmare Resources
• RBM
• Tronox
• Alkane
• Exxaro Resources
• Iluka Resources
• Kenmare Resources
• RBM
• Tronox

Other prominent vendors in the zirconium market include Astron, Chemours, Cristal Mining, Luxfer Group, Molycorp, and Titanium.

Segmentation by product type and analysis of the zirconium market

• Zircon
• Zircon chemicals and metals

The zircon segment dominates the market and occupied the largest market share during 2015. Much of the segment’s demand primarily comes from the use of zircon in ceramics, television glass, and refractory and foundry applications. Zircon is broadly used in the production of traditional ceramics such as tableware, sanitary ware, and tiles. It is used in the form of opacifier and flour in ceramic applications. The surging applications of zirconia chemicals and metals in electronics, advanced ceramics, and applications used for building nuclear reactors will augment growth opportunities for the segment in the coming years.

Segmentation by end-use and analysis of the zirconium market

• Ceramics
• Chemicals
• Foundry
• Refractories

The zirconium market for chemicals is expected to grow at the fastest rate during the forecast period. Zirconium chemicals are primarily used in applications such as automobile and industrial catalysts, ware materials, dielectric and piezoelectric devices, oxygen sensors, and fuel cells. These are also used for surface coating of paper and cardboard. These chemicals are popular for low levels of environment pollution.     

 Key questions answered in the report include

• What will the market size, market forecast and the growth rate be in 2020?
• What are the key factors driving the global zirconium market?
• What are the key market trends impacting the growth of the global zirconium market?
• What are the challenges to market growth?
• Who are the key vendors in the global zirconium market?
• What are the market opportunities and threats faced by the vendors in the global zirconium market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global zirconium market?