Press release
Global Zirconium Market Expected to Reach US$ 2.65 Billion by 2027 with CAGR of 8.4% by 2027 - IMARC Group
Zirconium Industry Definition and Application:
Zirconium is a lithophile metallic element that is malleable and ductile in nature. It is a transition metal that is characterized by a silver-gray color. Commonly found in volcanic and plutonic rocks, it can be obtained by commercial extraction processes involving the use of zirconium dioxide and zircon that is further infused with rutile, silica and ilmenite. The metal can also be produced by the process of decomposition, fusion electrolysis and the reduction of halides with calcium or sodium. It can endure harsh and corrosive environmental conditions while being highly resistant to heat, acids, alkalis and seawater. As a result, it is extensively used in the manufacturing of pipes, bricks, ceramics, abrasives, heat exchangers and steel alloys.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Zirconium Market Trends and Drivers:
The market is primarily driven by the increasing demand for zirconium and its alloys in the nuclear sector. It is widely used as cladding or outer covering for fuel rods that triggers a nuclear reaction due to its high heat resistance, chemical corrosion resistance and low neutron absorption properties. Apart from this, zirconium alloys are widely replacing steel dental implants in the healthcare sector. With continual improvements in zirconia-based ceramics, it is being extensively preferred for dental applications, especially due to the wide range of flexural strength offered by it.
The market is further driven by the growing demand for zirconium for the manufacturing of modern porcelain tiles. The metal can easily bind with organic and inorganic sand binders while exhibiting low thermal expansion and acidity properties which makes it an ideal material for its utilization in the production process of tiles. Moreover, the increasing demand for zirconium from the automotive industry for applications in protective coatings and numerous engine components, including pistons and manifolds, is acting as another major growth-inducing factor. On account of the aforementioned factors, the market is anticipated to exhibit a CAGR of 8.4% during 2022-2027.
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Global Zirconium Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Alkane Resources Ltd., Base Resources Limited, Doral Mineral Sands Pty Ltd. (Iwatani Corporation), Eramet SA, Iluka Resources Limited, Kenmare Resources Plc, Rio Tinto Group, Saint-Gobain ZirPro, Tosoh Corporation and Tronox Holdings Plc.
The report has segmented the market on the basis on region, occurrence type, form and end use.
Breakup by Occurrence Type:
Zircon
Zirconia
Others
Breakup by Form:
Crystal
Powder
Breakup by End Use:
Ceramics
Chemicals
Foundry
Refractories
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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